On June 30, 2019, the general ledger of the Shoe Closet, a retail store, showed the following balances: Purchases $22,800; Freight In, $1,900; Purchases Returns and Allowances, $1,250. Determine the following:A) What was the delivered cost of purchases for June?B) What was the net delivered cost of purchases for June?
What will be an ideal response?
A) $24,700
B) $23,450
Feedback:
A. $22,800 + $1,900 = $24,700
B. $24,700 - $1,250 = $23,450
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What will be an ideal response?
Which of the following ratios is not a measure of profitability?
a. rate of return on assets b. rate of return on common stockholders' equity c. earnings per share of common stock d. rate of return on preferred stockholders' equity e. all of the above
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Indicate whether the statement is true or false
An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided below:
Sales (units) Price ($) Advertising ($) 500 100 50 480 120 40 485 110 45 510 103 55 490 108 40 488 109 30 496 106 45 Use model building to determine the best prediction equation for Sales, based on highest adjusted r2.