During the month, merchandise is sold for $80,500 cash and for $119,000 on account. The cost of goods sold is $101,500. What is the amount of gross profit?

a. $199,500

b. $119,000

c. $98,000

d. $80,500

At the beginning of the year, a company had a balance in its prepaid insurance account of $48,400. During the year, $86,000 was paid for insurance.

Four buyers are in the market for a new car. suppose buyer 1 is willing to pay $20,000, buyer 2 is willing to pay $56,000, buyer 3 is willing to pay $34,000, and buyer 4 is willing to pay $18,000.

Why do some people resist the goal of becoming world class? How can this resistance be overcome?

Journalize the entries to record the following selected bond investment transactions for Starks Products: For a compound transaction, if an amount box does not require an entry, leave it blank. a. Purchased for cash $102,000 of Iceline, Inc.

Bellue Inc. manufactures a single product. Variable costing net operating income was $115,600 last year and its inventory decreased by 2,300 units. Fixed manufacturing overhead cost was $4 per unit for both units in beginning and in ending inventory.

A company has two departments and allocates all overhead costs based on department revenues. The following information applies: Department 1 revenue $1,000,000 Department 2 revenue 1,500,000 Corporate overhead costs 250,000 Department overhead costs

The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Multiple Choice An equal amount of cost for each department. Number of customers to enter each department.

What happens when a bond becomes due? A The issuer will pay you back, minus interest. B The issuer will pay you back, plus interest. C You pay it back to the issuer, plus interest. D You pay it back to the issuer, minus interest.

The emphasis of a marketing strategy for a continuous innovation concentrates on

Daphne handles the payroll and performance appraisals of employees. Which business department does Daphne belong to?