Which situation best illustrates an effect of the law of demand?
A. A car company increases sales when incomes rise in a city.
B. More children go to a theme park after a competing park shuts
down.
C. Customers stop going to a restaurant after it raises its prices.
D. A shop orders more computers when their selling price increases.

Answers

Answer 1

The correct answer is C

Answer 2

Answer: C. Customers stop going to a restaurant after it raises its prices

Explanation: (apx)


Related Questions

The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a perfectly competitive firm that produces novelty ear buds in a competitive market. The market price of ear buds is $6.00 per pair. Buddies Production CostsQuantity of Ear Buds MC ATC ($) ($)5 - 80 2 515 2.45 4.1520 3.55 425 4 430 5.5 4.2535 6 4.540 8.5 5A. If Buddies wants to maximize its profits, how many pairs of ear buds should it produce?B. At the profit-maximizing quantity, what is the total cost of producing ear buds?C. If the market price for ear buds is $6 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what is Buddies weekly profit?D. If the market price is $5.50 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what is Buddies weekly profit?E. Buddies earns a normal profit whena. marginal cost equals average cost at the minimum of average cost.b. marginal cost equals average cost.c. marginal cost equals marginal revenue at the minimum of marginal cost.d. average cost equals average revenue at the minimum of average cost.

Answers

Answer and Explanation:

The computation is shown below:

a. The number of pairs of ear buds that should be produced for maximizing the profits is

As we know that

MR = MC

Q =  35

And also the price is equal to the MC

Hence, the quantity that should be produced would be 35

b). The total cost of producing ear buds for maximizing the profit is

As we know that

TC = ATC × Q

= 4.5 × 35

= $157.5

c. The weekly profit is

As we know that

Profit = TR - TC

= (P - ATC) × Q

= (6 - 4.5) × 35

= $52.5

d) The weekly profit is  

Profit= (5.5 - 4.25) × 30

= $37.5

e. The normal profit could be earned at the time when the marginal cost is equivalent to the average cost that contains the minimum

Hence, the option a is correct

A country has nominal GDP equal to $204.31 billion in 2018. The GDP deflator in 2018 has a value of 112.64. What was the value of real GDP, in billions of dollars. Round to two decimal places. If your answer is 3.2 billion then just enter 3.2.

Answers

Answer:

$181.38 billion

Explanation:

The computation of the value of the real GDP is shown below:

As we know that

Real GDP = (Nominal GDP ÷ GDP Deflator) × 100

 = ($204.31 billion ÷ 112.64) × 100

= $181.38 billion

Hence, the value of real GDP is $181.38 billion

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Please help me guysss ASAP the question is in the photo. I need to submit it. I'll give brainliest. ​

Answers

Answer:

f to b is right

Explanation:

.............

On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.7 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 9% promissory note. Interest is payable at maturity. Trico’s year-end is December 31.
Required:
Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).)

Answers

Answer: Please see answers in explanation ncolumn

Explanation:

Journal entry for Trico Technologies

1) To record issuance of notes

Date             General Journal        Debit          Credit

Aug 1st 2021    Cash                 $19,700,000  

                           Notes Payable                           $19,700,000

Adjustment for Interest

= Principal x rate x time ( from August to December 31st)

$19,700,000 X 9% X 5/12=$738,750

To record accrual of interest at Year end.

Date             General Journal        Debit           Credit  

Dec 31st,2021   Interest expense $738,750

Interest payable                                                           $738,750

3. Record Payment of Note at maturity

Date             General Journal        Debit           Credit  

Jan 31st,2022     Notes payable      $19,700,000

Interest Expense   $147,750

Interest payable                                  $738,750

Cash $20,586,500

Interest Expense  =Principal x rate x time ( the remaining one month

$19,700,000 X 9% X 1/12=$147,750

Landings Glassware Company issues $1,150,000 of 15%, 10-year bonds at 95 on February 28, 2019. The bonds pay interest on February 28 and August 31. The journal entry to record the issuance includes a ________.A. debit to Cash for $1,150,000 B. debit to Cash for $1,092,500 C. credit to Bonds Payable for $1,092,500 D. credit to Discount on Bonds Payable for $57,500

Answers

Answer:

B. debit to Cash for $1,092,500

Explanation:

The journal entry to record the issuance of the bond is shown below:

Cash Dr ($1,150,000 × 95%) $1,092,500

Discount on bond payable $57,500

      To Bond payable $1,150,000

(Being the issuance of the bond is recorded)

Here the cash and discount is debited as it increased the assets and discount while the bond payable is credited as it also increased the liabilities

Therefore option B is correct

Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer. Simon's additional Medicare tax is:______________

Answers

Answer:

$874

Explanation:

Calculation for Simon's additional Medicare tax

Based on the information given we were told Simon has a MAGI of the amount of $223,000 in which part of it is for wages income of the amount of $185,000 ($223,000 -$38,000)

while the amount of $38,000 is the net investment income which means that Samson MAGI is below the threshold limit of the amount of $200,000, therefore tax rate of 3.8% tax will be applied.

Now let calculate the additional Medicare tax

Additional Medicare tax = ($38,000-$15,000)*3.8%

Additional Medicare tax =$23,000*3.8%

Additional Medicare tax = $874

Therefore Simon's additional Medicare tax is:874

Why do the marketing, operations, HR management, and IT functions need to be closely coordinated in service organization?

Answers

Answer:

Explanation:

All of these needs to be closely coordinated because each department needs the other in order to efficiently fulfill their roles and help the organization grow. Marketing makes sure that a population becomes aware of the organization's products/services but need operations to provide the product. HR management makes sure that all the employees are happy and efficient in order for operations to have the manpower to create the products/services for the organization. Lastly, all of the departments need IT functions in order to receive and input data into the organization's system and communicate with one another.

Carla Vista Clinic purchases land for $480000 cash. The clinic assumes $4200 in property taxes due on the land. The title and attorney fees totaled $3200. The clinic had the land graded for $8100. What amount does Carla Vista Clinic record as the cost for the land?A. $476200 B. $470000. C. $484500 D. $478300.

Answers

Answer:

$495,500

Explanation:

Carla costs clinic purchases a land for $480,000

The clinic assumes $4,200 in property taxes

The title and attorney fee is $3,200

The land was graded for $8,100

Therefore the cost of the land can be calculated as follows

= $480,000 + $4,200+$3,200 + $8,100

= $495,500

Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July’s activities: ​On July 1:

Beginning inventories 850 units, 60% complete

Direct materials cost $5,000

Conversion costs $4,000

During July:

Number of units started 15,000

Direct materials added $155,000

Conversion costs added $83,520

On July 31:

Ending inventories 1,600 units, 40% complete ​ ​

Using the FIFO method and rounding cost per unit to four decimal places, the cost of goods completed and transferred out during July was:_________

Answers

Answer:

$227,270

Explanation:

The computation of the cost of goods completed and transferred out is shown below

Particulars        Direct materials     Conversion costs      

Beginning inventories    0                      340

                                                        (850 × 40%)    

Units started

and completed         13400                       13400

          (15,000 - 1,600)

Ending inventories       1600                   640  

                                                       (1,600 × 40%)    

Equivalent units          15000             14380      

Current costs              $155000         $83520      

Cost per Equivalent unit $10.3333    $5.8081      

Cost of goods completed and transferred out is

= ($5000 + $4000) + (340 × 5.8081) + 13400 × (10.3333 + 5.8081)

= $227,270

A product sells for $200 per unit, and its variable costs per unit are $130. The fixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold? A. 6,500 B. 6,000 C. 500 D. 5,000 E. 5,500

Answers

Answer:

A 6,500

Explanation:

The number of units to be sold is calculated as;

= (Pretax income + Fixed costs) ÷ Contribution margin

Given that;

Pretax income = $35,000

Fixed costs = $420,000

Contribution margin

= Selling price per unit - Variable cost per unit

= $200 - $130

= $70

= ($35,000 + $420,000) ÷ $70

= 6,500 units

Ramble On Co. wishes to maintain a growth rate of 8 percent a year, a debt-equity ratio of 0.37, and a dividend payout ratio of 54 percent. The ratio of total assets to sales is constant at 1.41. What profit margin must the firm achieve?

Answers

Answer: 16.55%

Explanation:

Profit margin is the amount of earnings that a company has left when every expenses and costs have been deducted.

From the information given, firstly, we calculate the return on equity. This will be:

= Growth rate /(1 + Growth rate) × Retention ratio

= 8% / (1 + 8%) × 46%

= 0.08/(1 + 0.08) × 0.46

= 0.08/1.08 × 0.46

= 0.08/0.4968

= 0.1610

= 16.10%

Return on equity, ROE = 16.10%

We then calculate the profit margin. This will be:

= ROE / Asset turnover × Equity Multiplier

where,

Equity Multiplier = 1 + debt-equity ratio

= 1 + 0.37 = 1.37

Profit margin = ROE / Asset turnover × Equity Multiplier

= 16.10% / {(1/1.41) × 1.37}

= 16.10% / 0.71 × 1.37

= 0.1610 / 0.9727

= 0.1655

Profit margin = 16.55%

The profit margin is 16.55%,

Calculation of the profit margin:

First we have to determine the return on equity.

So, it should be

= Growth rate /(1 + Growth rate) × Retention ratio

= 8% / (1 + 8%) × 46%

= 0.08/(1 + 0.08) × 0.46

= 0.08/1.08 × 0.46

= 0.08/0.4968

= 0.1610

= 16.10%

Now the profit margin is

= ROE / Asset turnover × Equity Multiplier

= 16.10% / {(1/1.41) × 1.37}

= 16.10% / 0.71 × 1.37

= 0.1610 / 0.9727

= 0.1655

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The amount of time it takes Robby to go grocery shopping is continuous and uniformly distributed between 20 minutes and 45 minutes. What is the probability that it takes Robby between 29 and 39 minutes to go grocery shopping? Give your answer as a decimal.

Answers

Answer:

0.4

Explanation:

This problem has been solved using the method of integration.

We are required to solve for the probability that it takes Robby between 29 and 39 minutes to go grocery shopping

= X~U(20,45)

= 1/45-20

= 1/25

Then we get computation for p[29<x<39]

When we take the integrals with x = 1/25

We get

Probability that it takes Robby between 29 and 39 minutes to go shopping to be 0.4

Kim hired Gold Contracting to build a pool and a fancy gazebo in her backyard. The plans were complex and required expert workmanship. After the work was completed, Kim was so pleased that she promised to pay Gold an additional $3,500 performance bonus. Later, when Gold demanded the bonus, Kim refused to pay it. If Gold sues Kim for the money, what will probably happen?
A. Gold will win, because the bonus was adequate consideration and served to entice Gold to do an outstanding job.
B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.
C. Gold will win, because the bonus is for work they have already performed.
D. Kim will win, because the bonus agreement was not in writing.

Answers

Answer:

B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.

Explanation:

In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.

Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.

Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had current assets of $145,332, net fixed assets of $356,190, and other assets of $4,176. The firm had long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current liabilities did this firm have?

a. $94,792
b. $410,906
c. $171,217
d. $76,445

Answers

Answer:

a

Explanation:

What is the rate of return on an investment of $124,090 if the company expects to receive $10,000 per year for the next 30 years? A. 5.5 percent B. 4 percent C. 7 percent D. 6 percent

Answers

Answer:

C. 7 percent

Explanation:

The computation of the rate of return on the investment is shown below:

Given that

PV = $124,090

FV = $0

PMT = $10,000

NPER = 30

The formula is shown below:

=RATE(NPER;PMT;-PV;FV;TYPE)

The present value comes in negative

After applying the above formula, the rate of return is 7%

Hence, the rate of return on the investment is 7%

The correct option is c. 7%

What is the value of $1000 investment that loses 5% each year for eight years

Answers

Answer:

$663.420

Explanation:

The value for the investment is the future of $1000, earning a compound interest of -5% for eight years.

The formula for compound interest is as below.

FV = PV × (1+r)^n

Fv = $1000 x ( 1 + (-5/100)^8

Fv= $1000 x (1 +(-0.05)^8

FV= $1000 x (0.95)^8

Fv=$1000x 0.6634204

Fv=$663.420

The value will be $663.42

Answer:

663.42

Explanation:

Trust me and him ^

Talia Corp. produces digital cameras. For each camera produced, direct materials are $20, direct labor is $16, variable manufacturing overhead is $12, fixed manufacturing overhead is $28, variable selling and administrative expenses are $10, and fixed selling and administrative expenses are $24. Compute the target selling price assuming a 40% markup on total per unit cost. Target selling price

Answers

Answer:

Talia Corp.

Target Selling Price

= $154

Explanation:

a) Data and Calculations:

Direct materials =                                           $20

Direct labor =                                                     16

Variable manufacturing overhead =                12

Fixed manufacturing overhead =                    28

Variable selling & administrative expenses = 10

Fixed selling and administrative expenses = 24

Total cost                                                       $110

40% markup on total per unit cost =              44

Target Selling Price =                                  $154

b) Talia bases its target selling price on the addition of 40% of the total cost  to the total cost (including manufacturing costs, selling, and administrative expenses).

A stock is expected to pay a dividend of $1 per share in 2 months and in 5 months. The current stock price is $50, and the continuous compounded risk free interest rate is 8% per annum. An investor has just taken a short position in a 6-month forward contract on the stock.

Required:
a. What is the arbitrage free price of the forward contract?
b. What are the forward price and the initial value of the forward contract?
c. Three months later, the price of the stock is $48 and the risk-free rate of interest is still 8% per annum. What are the forward price and the value of the short position in the forward contract?

Answers

Answer:

b) the initial value of the forward contract is $0

we must determine the present value of the dividends that the stock is expected to pay in order to determine the forward price:

present value of dividends = ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°¹⁶⁷⁾) + ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°⁴¹⁶⁷⁾) = $1.954

forward price = ($50 - $1.954) · e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾ = $50.0068 ≈ $50.01

c) again we first determine the present value of the dividends:

present value of dividends = ($1 x e⁽⁻⁰°⁰⁸⁾ ⁽⁰°¹⁶⁷⁾) = $0.9867

forward price = ($48 - $0.9867) · e⁽⁰°⁰⁸⁾ ⁽⁰°²⁵⁾ = $47.963 ≈ $47.96

short forward contract = -[$48 - $0.9867 - ($50.01 · e⁽⁻⁰°⁰⁸⁾ ⁽⁰°²⁵⁾)] = $2.006 ≈ $2.01

a) in order to determine the arbitrage free forward price, the NPV of our forward price must be 0. It is basically the same answer than (b) only that you calculate it in a different order:

$50 = $1.954 + forward price/e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾

$48.046 = forward price/(1 + e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾

forward price = $48.046 · e⁽⁰°⁰⁸⁾ ⁽⁰°⁵⁾ = $50.006 ≈ $50.01

Pillar Company owns 70 percent of Salt Company's outstanding common stock. On December 31, 20x8, Salt sold equipment to Pillar at a price in excess of Salt's carrying amount but less than its original cost. On a consolidated balance sheet at December 31,20x8, the carrying amount of the equipment should be reported at:_______________ A) Pillar's original cost. B) Salt's original cost. C) Pillar's original cost less Salt's recorded gain. D) Pillar's original cost less 70 percent of Salt's recorded gain.

Answers

Answer:

C. Pillar's original cost less Salt's recorded gain

Explanation:

For physical assets, that is in the form of machineries or computer hardware or in this case, equipment, we can calculate the carrying cost to be the original cost minus accumulated depreciation.

in answer to this question, the carrying amount of the equipment should be reported at Pillar's original cost less Salt's recorded gain.

If there is an excess supply of money in the economy, A. there is also an excess demand for money B. there is also an excess demand for bonds C. there is also an excess supply of bonds D. the interest rate will rise E. the Fed must intervene to restore equilibrium

Answers

Answer: B. there is also an excess demand for bonds

Explanation:

When there is an excess supply of money in the economy, there is also an excess demand for bonds.

This is because in his case, rather than holding money, individuals will want to increase their being holdings and therefore, this will lead to the reduction in their holding of money. Equilibrium will further be restored as there'll be reduction in interest rate.

The lead time for an inventory item is 3 weeks and weekly dmand average 8000 units with SD of 1500 units for an item we deisire a 78% servcie level. what are our average requirements during lead time?

Answers

Answer:

24,000 units

Explanation:

Demand per period, = 8,000  units

Lead time, LT (in periods) = 3 weeks

Average demand during lead time = Lead Time * Demand per period

Average demand during lead time = 8,000 units * 3 weeks

Average demand during lead time = 24,000 units

Thus, our average requirements during the lead time of 3 weeks is 24,000 units

The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as:_____________
a) Predetermined overhead.
b) Overapplied overhead.
c) Estimated overhead.
d) Adjusted overhead.
e) Underapplied overhead.

Answers

overapplied overhead

Option B is Correct. The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as  Overapplied overhead.

Overapplied Overhead

Overapplied overhead is  the amount that exceeds the estimated overhead  amount actually incurred during a production period, hence it is called overapplied.

Overapplied overhead is the amount by which the overhead applied jobs exceeds the overhead incurred, hence the correct option is B.

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Luther Industries has no debt, a total equity capitalization of $20 billion, and a beta of 1.8. Included in Luther's assets are $4 billion in cash and risk-free securities. What is Luther's enterprise value?

Answers

Answer:

2400000000

Explanation:

Luther's enterprise value will be $16 billion.

The following information can be depicted from the question given:

Total equity capitalization = $20 billionBeta = 1.8

It should be noted that an enterprise value is the difference between the market value and cash. Therefore, the enterprise value will be:

= $20 billion - $4 billion

= $16 billion.

In conclusion, Luther's enterprise value will be $16 billion.

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Tommy is about to order a steak dinner with a salad at his favorite restaurant. The restaurant recently raised its prices on steaks but kept its prices on salads the same. How might the real-income effect and the substitution effect influence Tommy’s order?

Answers

Answer:

Explanation:

Each of these effects would most likely influence Tommy's order differently. The real-income effect would most likely cause Tommy to buy the large steak and salad regardless of the increase in price since individuals tend to spend more when they start making more money. The substitution effect on the other hand would most likely cause Tommy to order a smaller steak since it costs more but at the same time order, more salad since the price has not increased as the steak did.

The following transactions were selected from among those completed by Hailey Retailers in the current year:

Nov. 20 Sold two items of merchandise to Customer B, who charged the $460 (total) sales price on her Visa credit card. Visa charges Hailey a 1 percent credit card fee.
25 Sold 14 items of merchandise to Customer C at an invoice price of $3,400 (total); terms 2/10, n/30.
28 Sold 12 identical items of merchandise to Customer D at an invoice price of $8,040 (total); terms 2/10, n/30.
30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer.

Dec. 06 Customer D paid the account balance in full.
30 Customer C paid in full for the invoice of November 25.

Required:
a. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold.
b. Compute Net Sales.

Answers

Answer:

Hailey Retailers

a. Journal Entries:

Nov. 20:

Debit Visa Card $455.40

Debit Card Charges $4.60

Credit Sales Revenue $460

To record the sale of goods via Visa credit card.

Nov. 25:

Debit Accounts Receivable $3,400

Credit Sales Revenue $3,400

To record the sale of goods on account, terms 2/10, n/30.

Nov. 28:

Debit Accounts Receivable $8,040

Credit Sales Revenue $8,040

To record the sale of goods on account, terms 2/10, n/30.

Nov. 30:

Debit Sales Returns $670

Credit Accounts Receivable $670

To record the return of the defective items.

Dec. 06:

Debit Cash $7,222.60

Debit Cash Discount $147.40

Credit Accounts Receivable $7,370

To record the receipt from Customer D.

Dec. 30:

Debit Cash $3,400

Credit Accounts Receivable $3,400

To record the receipt from Customer C.

b. Computation of the Net Sales:

Nov. 20: Sales Revenue    $460

Nov. 25: Sales Revenue $3,400

Nov. 28: Sales Revenue $8,040

Nov. 30: Sales Returns    $(670)

Net Sales =                    $11,230

Explanation:

Hailey Retailers' net sales equals the addition of the sales revenue minus the sales returns.

The stockholders' equity of Gaulin Company at the start of the current year follows: Common stock, $ 5 par value, 350,000 shares authorized; 120,000 shares issued and outstanding $ 600,000 Paid-in capital in excess of par value 600,000 Retained earnings 346,000 During the current year, the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $12 cash per share. Jan. 18 Purchased 4,000 shares of common stock for the treasury at $14 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $17 cash per share. July 17 Sold 500 shares of the remaining treasury stock for $13 cash per share. Oct. 1 Issued 5,000 shares of 8%, $22 par value preferred stock for $32 cash per share. This is the first issuance of preferred shares from the 50,000 authorized shares.
(a) Use the financial statement effects template to indicate the effects of each transaction. Use negative signs with answers, when appropriate.
Balance Sheet
Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital
Jan. 5 Answer Answer Answer Answer Answer Jan. 18 Answer Answer Answer Answer Answer Mar. 12 Answer Answer Answer Answer Answer July. 17 Answer Answer Answer Answer Answer Oct. 1 Answer Answer Answer Answer Answer Income StatementRevenue - Expenses = Net IncomeAnswer Answer AnswerAnswer Answer AnswerAnswer Answer AnswerAnswer Answer AnswerAnswer Answer Answer(b) Prepare the December 31, 2014, stockholders' equity section of the balance sheet assuming that the company reports net income of $65,800 for the year.Stockholders' EquityPaid-in capital 8% Preferred stock, $25 par value, 50,000 shares authorized, 5,000 shares issued and outstanding $Answer Common stock, $5 par value, 350,000 shares authorized; 260,000 shares issued Answer $AnswerAdditional paid-in capital Paid-in capital in excess of par value-preferred stock Answer Paid-in capital in excess of par value-common stock Answer Paid-in capital from treasury stock Answer AnswerTotal paid-in capital AnswerRetained earnings AnswerAnswerLess: Treasury stock (2,500 shares) at cost AnswerTotal Stockholders' Equity $ Answer

Answers

Answer:

common stock $600,000

additional paid in capital, common stock $600,000

retained earnings $346,000

I used an excel spreadsheet because there is not enough room here

1) Dr Cash 120,000

    Cr Common stock 50,000

    Cr Additional paid in capital, common stock 70,000

2) Dr Treasury stocks 56,000

    Cr Cash 56,000

3) Dr Cash 17,000

    Cr Treasury stock 14,000

    Cr Additional paid in capital, common stock 3,000

4) Dr Cash 6,500

Dr Additional paid in capital, common stock 500

    Cr Treasury stock 7,000

5) Dr Cash 160,000

    Cr Preferred stocks 110,000

    Cr Additional paid in capital, preferred stock 50,000

What is the purpose of the FASFA4CASTER

Answers

The FAFSA4caster is a free tool which provides an early estimate of your federal student aid eligibility. It analyzes your household income and assets to determine your expected family contribution or EFC.

A company manufactures various-sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $75 per unit (100 bottles), including fixed costs of $28 per unit. A proposal is offered to purchase small bottles from an outside source for $40 per unit, plus $4 per unit for freight.
a. Prepare a differential analysis dated July 31 to determine whether the company should make _______ or buy __________ the bottles, assuming fixed costs are unaffected by the decision.
b. Determine whether the company should make ___________ or buy ________ the bottles.

Answers

Answer:

Part a

Differential analysis to determine whether the company should make or buy  the bottles.

                                                                           Make         Buy

Variable manufacturing costs ($75 - $28)        $47

Purchase price                                                                     $40

Freight charges                                                                      $4

Total Cost                                                            $47           $44

Part b

The Company should Buy instead of making the bottles. This is because it costs $3 more to make the bottles than buying them.

Explanation:

The make or buy decision should be done by considering relevant costs. The fixed costs are irrelevant in this decision hence, we have to ignore them.

The alternative course which gives the lowest cost is the one to go for. This will minimize the costs for the entire business and in turn maximizes the profits of the company.

In constructing a common-size income statement, depreciation will be______. A. omitted since it is a noncash expense. B. expressed as a percentage of sales. C. added back to convert net income to cash flows. D. expressed as a percentage of total assets. E. expressed as a percentage of gross fixed assets.

Answers

Answer:

B. expressed as a percentage of sales.

Explanation:

The common size income statement is the income statement where n each line the item on the income statement should be expressed as a percentage of sales

In the given options, the option B is correct as it shows that the depreciation would be expressed in sales percentage

Therefore all other options are wrong

A company had inventory on July 1 of 5 units at a cost of $16 each. On July 2, they purchased 9 units at $28 each. On July 6 they purchased 5 units at $25 each. On July 8, 8 units were sold for $58 each. Using the LIFO periodic inventory method, what was the value of the inventory on July 8 after the sale?

Answers

Answer:

$248

Explanation:

The LIFO inventory method implies that the inventory that was purchased last would be the first to be sold.

Here, we would compute the inventory units as seen below;

= 5 units + 9 units + 5 units - 8 units

= 11 units

Now, the value of inventory is;

= 5 units × $16 + 6 units × $28

= $80 + $168

= $248.

The 6 units come from

= 11 units - 5 units

= 6 units.

Therefore, the value of inventory is $248.

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