The basic retailing equation states that the cost of an item is not equal to the selling price plus the markup.

Answers

Answer 1

Answer: Yes definitely. If the cost of an item is worth the same as the selling price, then you will not earn anything. Basically, the selling price already has the markup, so the selling price is definitely supposed to be higher than the cost of the item. For example, I bought a TV for 30 dollars. I would want to sell it at a selling price of 70 dollars. The difference of 40 dollars is my markup. The markup can also be expressed as a percentage if you divide the difference with the selling price.

Related Questions

Paloma Company establishes a $200 petty cash fund on Jan 1. On January 8, the fund shows $107 in cash along with receipts for the following expenditures: postage, $39; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $28. Palmona uses the perpetual system in accounting for merchandise inventory.Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $350 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.
The first federal retirement benefits were give to veterans ofA. World War I. B. the Spanish American War. C. the Mexican War. D. the Civil War.
Lashondra is the owner/operator of an interior design firm. Last year she earned $400,000 in total revenue. Her explicit costs were $200,000 (assume that this amount represents the total opportunity cost of these resources). During the course of the year she received offers to work for other design firms. One offer would have paid her $120,000 per year and the other would have paid her $130,000 per year. Lashondra’s economic profit is equal to:____________.a. $50,000b. $70,000c. $200,000d. $0.
According to the resource-based view, there are economic gains from international trade because some firms in one nation generate exports that are valuable, unique, and hard to imitate that firms from other nations find it beneficial to import.True / False.
If one U.S. dollar equals one euro, which of these could result if the euro experiences inflation?a) E.U. citizens could purchase more goods in the U.S. for less money. b) E.U. citizens would purchase large amounts of U.S. stock. c) U.S. citizens would purchase more goods from the E.U. for less money. d) U.S. citizens would purchase large amounts of E.U. stock. Which of these statements is true? a) Inflation means our money has more purchasing power. b) Inflation happens when there is not enough money. c) Inflation is due to low production costs. d) Inflation is problematic if unexpected.

What is the difference between a salaried job and an hourly job?

Answers

The difference is that they all not the same thing and they work different times and everything else

Salaried employee can have some benefits like healthcare insurance. Hourly employee don't have it

The Edwards Plateau was originally covered by grasslands. Overgrazing caused this to change from grasslands to brush land. What will the decrease in plants in this area is most likely to lead to a direct increase in? A) deposition of sand B) erosion of soilc) exfoliation D) weathering of rock

Answers

Answer:

B) erosion of soil

Explanation:

Edward plateau is at the border of the west, south and central texas and is surrounded by Balcones Fault, Pecos River, and the Chihuahuan Desert.

The bedrocks of the place consist of the limestone and landscape is mostly of savanna type and most of the place thin soil is found due to the overgrazing of the sheep.

The vegetation is shaped by the presence of the draughts and forest fires. Almost all of the landscape of this region has been converted to the ranchland and if it continues then the soil erosion will take place on a large scale.

What steps can you take to prevent yourself from being affected by a market correction? Explain.

Answers

Nobody like losing money. Market correction is something that no one canforecast. To protect ourselves from market correction, here are some ways youcan take:

1. Avoid listening tofinancial analysts. Ignore the predictions.

2. Study the kind ofmarkets you put your money into. Understanding how they work can help you alot.

3. Be ready to risk.

4. Avoid being impulsiveon your decisions.

5. Think about the risksand the probability of a potential return; from there you can decide what youneed to do.

Brandy has some money saved for college and also receives a work-study position to help pay for her college tuition. If Brandy graduates from college, will she have to pay the work-study compensation back? Why or why not?Select the best answer from the choices provided.
A. She will not have to repay the work-study compensation because that income is not a loan.
B. She will have to repay the work-study compensation if she attended an out-of-state college.
C. She will not have to repay the work-study compensation if her parents paid part of her college expenses.
D. She will have to repay the work-study compensation if she paid part of her college expenses from her savings.

Answers

Brandy has some money saved for college and also receives a work-study position to help pay for her college tuition. If Brandy graduates from college, she will not have to repay the work-study compensation because that income is not a loan.

Thus the answer is letter A.
>>The work-study program caters part-time employment to undergraduates and graduates to help with college expenses. There are two different kinds of work-study: Federal Work-Study and non-Federal Work-Study.

. Which choice best describes labor laws passed during the New Deal? A. No labor laws were passed during that time period B. Union friendly C. Anti-union D. Neutral towards unions

Answers

The best answer would be B, union friendly. During the New Deal, labor laws that favored unions were passed. The National Labor Relations Act was the most significant of these laws that was passed. It also goes by the Wagner Act and was passed in 1935. Hope this helps.

Answer:

B. Union friendly

Hope this Helps!! :))

Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an interest rate of 7.1%, compounded monthly, and requires that the loan be paid off in five years. Bank N charges an interest rate of 7.8%, compounded monthly, and requires that the loan be paid off in four years. How would you recommend that Maria choose her loan?a.
Bank M offers a better loan in every regard, so Maria should choose it over Bank N’s.
b.
Maria should choose Bank M’s loan if she cares more about lower monthly payments, and she should choose Bank N’s loan if she cares more about the lowest lifetime cost.
c.
Maria should choose Bank N’s loan if she cares more about lower monthly payments, and she should choose Bank M’s loan if she cares more about the lowest lifetime cost.
d.
Bank N offers a better loan in every regard, so Maria should choose it over Bank M’s.

Answers

Answer:

Explanation:

To answer this question we have to make comparisons between the two proposals.

1) Bank M

19700

7.1% compounded monthly = 86 annualy

5 years Maturity

Performing calculations, the outcomes:

Monthly Payment $391.01

Time Required to Clear Debt 5.00 years

60 Payments total of $23,460.82

Total Interest $3,760.82

2) Bank N

19700

7.8%

4 years maturity.

Monthly Payment $479.09

48 Payments total of $22,996.19

Total Interest $3,296.19

Both proposals consider a Constant Amortization System, with constant monthly payments. Notice also that Bank N offer lower total interest despite a higher monthly payment, and Bank M offer higher interest yield and lower monthly payment.

Answer:

Answer is B I am 2000% sure.

Explanation:

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