Answer:
Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method.
Apr. 2 Purchased $5,800 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
3 Paid $250 cash for shipping charges on the April 2 purchase.
Explanation:
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Answer:
$174,240
Explanation:
Beginning inventory = $162,700
Purchases = $458,700
Sales revenue = $638,800
Cost of goods sold = sales × ( 1 - Gross profit )
= sales × ( 1 - Gross profit )
= $638,800 × ( 1 - 0.30 )
= $638,800 × 0.70
= $447,160
Now,
Estimated ending inventory destroyed in fire
= Beginning inventory + purchases - Cost of goods sold
= $162,700 + $458,700 - $447,160
= $174,240
Answer:
Concept & example of breakeven point
Explanation:
Break Even point is where, Total Revenue = Total Cost. So, dividing entire equation by Q, Average Revenue ie Price = Average Cost.
TC = 1000 + 2Q + 0.1 Q^2 , AC = TC / Q , AC = 1000 / Q + 2 + 0.1Q Lowest Price ie AR for breakeven, is where P = AC. So, P = 1000/Q + 2 + 0.1Q
Eg : For quantity Q = 100, minimum price for breakeven, at P = AC is (1000 / 100) + 2 + 0.1 (1000) = 100 + 2 + 100 = 202
Answer:
AD shifts left and price level would decrease.
Explanation:
If consumer wealth decreases due to a plunge in the stock market, the AD curve will shift to the left. This is because shifts to the left of the AD curve represent a reduction in demand, and if consumers are poorer, they will naturally decrease their demand.
This will in turn reduce the price level, because in a market system, prices will fall until they meet the new, lower demand, meaning that a new equilibrium price is reached.
Answer:
10.23%(approx)
Explanation:
WACC for this project:
= (Debt ÷ Initial investment) × cost × (1 - tax rate) + (Preferred stock ÷ Initial investment) × cost + (Equity ÷ Initial investment) × cost
= (750,000 ÷ 1,708,000) × 8.7 × (1 - 0.25) + (78,000 ÷ 1,708,000) × 9.9 + (880,000 ÷ 1,708,000) × 13.2
= (0.44 × 8.7 × 0.75) + (0.05 × 9.9) + (0.52 × 13.2)
= 2.871 + 0.495 + 6.864
= 10.23%(approx)