Answer:
A. $68,200
Explanation:
Retail Cost
Beginning inventory $60,000
$120,000
Plus: Net purchases. $312,000
$480,000
Goods available for sale $372,000
$600,000
Cost to retail percentage = $372,000 ÷ $600,000 = 62%
Less : Net sales
($490,000)
Estimated ending inventory at retail
$110,000
Estimated ending inventory at cost
62% × $110,000 = $68,200
Answer:
D) The quantity of available rental housing units falls.
Explanation:
Price ceilings often carry long-term disadvantages, such as shortages, extra charges, or lower quality of products.
Price Ceilings major long-term effect is for goods to be in high demand but supply to be in shortfall creating an ongoing presence of a black market
Therefore when cities prevent landlords from charging market rents, the definite consequence and common long-run outcomes is that the quantity of available rental housing units falls.
Answer:
b. $75,000
Explanation:
Depreciable cost is the amount of an asset's cost that will be depreciated. Depreciable cost is calculated by using purchase and installation cost of a fixed asset, minus its estimated salvage value at the end of its useful life.
Depreciable cost = Total asset cost - salvage value = $90,000 - $15,000 = $75,000
The company then uses a depreciation method, such as the straight-line method, to calculate depreciation expense of the equipment.
Example:
Annual Depreciation expense = $75,000/6 = $12,500
Answer:
Explanation:
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