Question

*BUSINESS MATH 9 QUESTIONS*

Answer 1

Answer:

Step-by-step explanation:  

1. The balance sheet contains these three elements of a business - Assets, liabilities, and owner's equity

2. Which of the following is not considered a current assets? - Business equipment

3. Using a base year and calculating each future amount as a percentage of the base year amount is called a - Horizontal analysis

4. Which of the following items is not a current liability? - Mortgage payable

5. Gross sales total = $82649

Net sales total = $79281

To calculate the the percentage of the net sales ,

$\frac{82649-79281}{79281}*100$

= 4.2%

6. $\frac{4350+2500}{18200}*100=37.64$% ≈38%

7. gross profit in sales minus operating expenses = net income.

$4100-1990=2110$ ; option A.

8. The formula for the gross profit margin ratio is - Cost of goods sold divided by net sales

9. net sales = total sales - sales of return and allowances

= $15720-925=14795$ ; option C.

Answer 2

Hi there :-)
The answers to your questions are
1) B. Assets, liabilities, and owner's equity
2) B. Business equipment
3) A. Horizontal analysis
4) A. Mortgage payable
5) ((82,649−79,281)÷79,281)×100+100
=104.2
6) ((4350+2500)÷18200)×100=38%
7) 4,100−1,990=2,110
8) C. Cost of goods sold divided by net sales
9) 15,720−925=14,795

Hope it helps