Answer:
- The entries in VLC's accounting information system to record all the preceding events will include all of the following except:
C. A credit togross profit
Explanation:
An entry to Gross Profit does not exist because the gross profit it's the result of the total sales minus the Cost of Goods, so the Gross Profit it's a result and not a journal entry.
The other entries are used as follows:
A. A debit to cost of goods sold
D. A credit to inventory
B. A debit to delivery expense
A credit to Cash
Answer:
2.look at explanation.
Explanation:
2.Profession refers to type of a job that needs special training or skill after getting certain knowledge related to particular Sector
Answer:
All the options written are the steps involved in solving the problem. The formula that would be used is compounding formula because we have future value which is $150,000 and rate of return which is 10.25%. Furthermore, here n is 10 years time.
The formula is:
Future Value = Present Value * (1 + r)^n
$150,000 = Present Value * (1.1025)^10
$150,000 = Present Value * 2.6524
$150,000 / 2.6524 = Present Value
Present Value = $56553
So the amount that we should deposit in mutual funds today to buy Ferrari is $56553. The difference is due to rounding off.
The question is incomplete. The following is the complete question.
Sag Manufacturing is planning to sell 400,000 hammers for $6 per unit. The contribution margin ratio is 20%. If Sweet will break even at this level of sales, what are the fixed costs?
Answer:
Fixed costs are $480000
Explanation:
The break even sales is the value of total sales or total revenue where it equals total cost and the company makes no profit or no loss. The break even in sales is calculated by dividing the fixed costs by the contribution margin ratio.
Break even in sales = Fixed cost / Contribution margin ratio
Plugging in the available values we can calculate the value of fixed cost. We know that the break even in units is at 400000 units. Thus, its value in sale will be 400000 * 6 = 2400000
2400000 = Fixed cost / 0.2
2400000 * 0.2 = Fixed cost
Fixed costs = $480000
Answer:
the price elasticity of demand is -0.77
Explanation:
The computation of the price elasticity of demand is as follows;
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
Here,
Change in quantity demanded is
= Q2 - Q1
= 14 - 12
= 2
And, average of quantity demanded is
= ( 14 + 12) ÷ 2
= 13
Change in price is
= P2 - P1
= $180 - $220
= -$40
And, average of price is
= ($180 + $220 ) ÷ 2
= 200
So, after solving this, the price elasticity of demand is -0.77
