If sales are $1,150,000 in 2022 and this represents a 15% increase over sales in 2021, what
Question:
If sales are $1,150,000 in 2022 and this represents a 15% increase over sales in 2021, what were sales in 2021?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (8 reviews)
Let Sales in 2021 After 15 increase sales becomes 15 ...View the full answer
Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
Question Posted:
Students also viewed these Business questions
-
If sales are $1,150,000 in 2016 and this represents a 15% increase over sales in 2015, what were sales in 2015?
-
T Pty Ltd is a manufacturer of tennis equipment and fashion wear. The statement of financial position as at 30 June 2020 and details of expenses and revenues for the year ending 30 June 2020 are as...
-
To ensure efficiency of its accounting procedures, the company uses the following Special Journals to maintain ?its accounting records: Sales Journal (SJ): to record all sales of Inventory on credit...
-
(5 points) In a study of purchasing behavior at a small shop, it was found that the probabaty that a purchase is more than $5 is 0.29, the probability that a customer will pay with a credit card is...
-
As discussed in the text, promoters were originally identified as consensus sequences upstream from transcriptional start sites. What additional evidence might support the assignment of these...
-
Describe the differences between corporate and competitive strategies.
-
With the neat sketch, explain the principle of MPFI?
-
Mastery Problem: Job Order Costing Purl of Great Price Company Maria Young is the sole stockholder of Purt of Great Price Company (POGP Company), which produces high-end knitted sweaters and sweater...
-
Damon Associates reported the following transactions during September 2017: Sept. 8 Sold $3,000 of merchandise to Bruce Company for cash. The cost of the merchandise was $1,250 10 Owner invested...
-
Interstate 81 through southwest Virginia is heavily traveled by long-distance truckers. To cut down on accidents, The Virginia State Patrol carries out random inspections of a trucks weight and the...
-
Sales are $2.6 million in 2020, $2.7 million in 2021, and $2.5 million in 2022. What is the percentage change from 2020 to 2021? What is the percentage change from 2021 to 2022? Be sure to indicate...
-
Match (by letter) the following items with the description or example that best fits. Each letter is used only once. Terms _____ 1. Vertical analysis. _____ 2. Horizontal analysis. _____ 3....
-
Using a spreadsheet analysis, plot the annual cost of fuel for the vehicle in Example 6.4 as the cost of gasoline ranges from $1.00 to $10.00 per gallon. Example 6.4 The cost of fuel is rising and...
-
Documenting internal controls: a. is always handled through the use of checklists and preformatted questionnaires. b. is not done for smaller clients because of the risk of management override. c....
-
A business plan is often called a selling document for a new company. In what ways does a business plan provide a mechanism for a young company to present itself to potential investors, suppliers,...
-
Discuss how elasticity meaningfully differs from the derivative in DEA.
-
Ensuring inventories include all materials, products, and supplies on hand at the end of the reporting period relates to the audit assertion of: a. accuracy, valuation, and allocation. b....
-
ITGCs are important because they: a. promote the reliability of electronic audit evidence. b. affect the effectiveness of both application controls and IT-dependent manual controls. c. prevent...
-
How much would you pay for an investment that provides $1,000 at the end of the first year if your required rate of return is 10 percent? Now compute how much you would pay at 8 percent and 12...
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19 year-old nanny $125 per week for 48 weeks during the current year. a. What is the employers portion of...
-
Accounting for lease by lessor and lessee. IBM manufactures a particular computer for $6,000 and sells it for $10,000. Adair Corporation needs this computer in its operations and contemplates three...
-
Comparison of borrow/buy with operating and capital leases. Carom Sports Collectibles Shop plans to acquire, as of January 1, 2008, a computerized cash register system that costs $100,000 and has a...
-
Financial statement effects of capital and operating lease. Excerpts from the notes to the financial statement of Northern Airlines for two recent years reveal the following (amounts in million)....
-
Provide the strengths and weakness of each of the theories of substance use disorders genetic, disease, moral, etc. What are the implications of each theory in an individual's pursuit of recovery...
-
highest mount you can ow finance 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and...
-
11. Selected information for Blake's Restaurant Supply follows. ($ millions) 2020 2021 Net sales 694 782 Cost of goods sold 450 502 Depreciation 51 61 Net income 130 142 Finished goods inventory 39...
Study smarter with the SolutionInn App