Answer:
%variation= 31.58% increase
Explanation:
Giving the following information:
Selling price per dozen= $21
Sales in units= 4,250
They are considering reducing their sales price by 24% per dozen.
<u>First, we need to determine the actual total contribution:</u>
Total contribution= 21*4,250= $89,250
<u>Now, with the new selling price, the percentage variation in sales units</u>:
Selling price= 21*0.76= $15.96
89,250= 15.96*units
5,592= units
Percentage:
%variation= [(5,592/4,250) - 1]*100= 31.58%
Answer:
Preferred stock dividends is $71,100
Common stock dividends is $48,900
Explanation:
The cumulative preferred stockholders would be paid prior year dividends as well as the current year's,hence would be entitled to two years' dividends with remnant thereafter being paid to common stockholders.
preferred stock dividends=79,000*$5*9%=$35,550
The preferred stock dividends per year is $35,550,which means that they would get $71,100
(dividends for two years).
Common stock dividends=$120,000-$71,100
=$48,900
The rationale for preferred stocks receiving arrears of dividends is because of the cumulative nature which entitles them to arrears of dividends
Answer:
Gross profit= $388
Explanation:
Giving the following information:
Beginning November 1: 5 units at $20
Purchase November 2: 10 units at $22
Purchase November 12: 6 units at $25
On November 8, it sold 12 units for $54 each.
LIFO (last-in, first-out)
COGS= 10*22 + 2*20= $260
Gross profit= 12*54 - 260= $388
Answer:
Note: The full question is attached below
S/No Accounts titles and Explanation Debit ($) Credit ($)
A. Accounts receivable 5,200
Service revenue 5,200
(To record the service revenue)
B. Cash 3,100
Service revenue 3,100
(To record the service revenue)
C. Cash 1,500
Unearned service revenue 1,500
(To record the advance received for the services to be provided)
D. Cash 4,600
Accounts receivable 4,600
(To record the collection of amount)
E. Rent payable 1,100
Cash 1,100
(To record the payment of bill)
F. Rent expense 1,200
Rent payable 1,200
(To record the accrual of rent expense)
The borrower needs to bring the 10% down payment and another $3,3330 for points for a total of $21,830.
Answer=$21,830