Presented below is information related to Novak Corporation for the current year. Beginning inventory $ 607,100 Purchases 1,484,500 Total goods available for sale $2,091,600 Sales revenue 2,530,000 Compute the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 37% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e. g. 78.7% and final answers to 0 decimal places, e. g. 28,987.) Ending Inventory (a) Gross profit is 49% of sales $ 1239700 (b) Gross profit is 60% of cost $ (c) Gross profit is 37% of sales $ 936100 (d) Gross profit is 25% of cost

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.

You own a nonunion company with 93 nonexempt employees. all of these employ- ees pack books into boxes for shipment to customers throughout the united states. because of wide differences in performance, you have decided to try performance appraisal, something never done before. until now, you have given every worker the same size increase. now you want to measure performance and reward the best performers with bigger increases. without any further information, which of the five types of appraisal formats do you think would be most appropriate? justify your answer. do you anticipate any complaints, or other comments, from employees after you implement your new system?

Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition