Answer:
1) Debit sales discounts $14
2) Debit cash $686
3) Credit accounts receivables $700
Explanation:
nov-02 sold 700
terms 2/15 n 30
700
Discount 2%
14
Net payment 686
Db Cash_____________686
Db Sales discount_______14
Cr Account receivable_______700
Answer:
the perpetuity will pay the student 166.36 dollar per years
Explanation:
First, we solve for the amount of the original investment after 5 years:
Principal 1,642.00
time 5.00
rate 0.06200
Amount 2,218.17
<u>Then, this goes into a perpetual annuity at 7.5%</u>
2,218.17 x 0.075 = 166.3630983 = 166.36
the perpetuity will pay the student 166.36 dollar per years
Answer:
Sales revenue 392,500
Sales returns and allowances (20,000)
Sales discounts <u> (8,600) </u>
Net Sales: 363,900
COGS (221,000)
Gross Profit 142,900
Freight-out (9,700)
Salaries and wages expense (63,400)
Rent expense (33,500)
Insurance expense <u> (14,600) </u>
Earnings before taxes 21,700
Income tax expense <u> (4,900) </u>
Operating income 16,800
OCI <u> 2,000 </u>
Net Income 18,800
Explanation:
First we solve for net sales.
Then we subtract COGS for Gross profit.
THen we subtract hte expenses and get hte earnings before taxes.
Next the inome tax expense and operationg income
then we put htis along with OCI for thenet income of the period.
Answer: Nether Australia or Europe
Explanation:
Purchasing power parity is a notion that states that prices of the same or similar goods should have the same price across the world after adjusting for exchange rate differences.
If the price of a tall latte in the U.S. is $4,00, it should be the same price in Europe and Australia after exchange rate adjustments.
$4.00 in Euro is: $4.00 in Australian dollars is:
= 4 * 0.8 = 4 * 1.4
= €3.20 = $5.60
Purchasing power parity does not hold in wither countries because the prices of the lattes are not equal to the $4.00 in the U.S. after adjustments for exchange rates.
Answer:
$64,500= purchases
Explanation:
Giving the following information:
beginning inventory= $18,000
Ending inventory= $21,500
Cost of goods sold= $61,000.
To calculate the purchases during the year, we need to use the following formula:
COGS= beginning inventory + purchases - ending inventory
61,000= 18,000 + purchases - 21,500
64,500= purchases
