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4 years ago

The following are budgeted data for the Bingham Corporation, a merchandising company:

Business

1 answer:

soldi70 [24.7K]4 years ago

5 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Budgeted Sales (at retail):

January $300,000*0.60= 180,000

February $340,000*0.6= 204,000

March $400,000*0.6= 240,000

April $350,000

Cost of goods sold as a percentage of sales 60%

Desired ending inventory 75% of next month sales

April:

Purchase from March= (240,000*0.25) + (350,000*0.60*0.75)=60,000 + 157,500= $217,500

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Which of the following accounts would not be included in the closing process at year-end?a) Rent expense.b) Additional paid-in c

hammer [34]

Answer:

b) Additional paid-in capital.

Explanation:

Closing process in accounting is a period end activities which involves

the movement or transfer of temporary accounts to permanent accounts.

Temporary accounts are all income statement accounts like sales account, rent account, depreciation expense account, telephone expense account e.t.c.

This exercise is to prepare temporary accounts for the next period. since temporary accounts are measured as at period end, the transaction of a period must not be allowed to mix with another, hence the need to always close or bring to zero all temporary accounts.

In the question, all are income accounts except additional paid-in capital

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3 years ago

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the m

kicyunya [14]

Answer:

market share

Explanation:

The market share of a product or business is the portion of the total market that it controls. Market share is usually measured as a percentage of the total market's sales. To calculate market share you need to divide your product's total sales by the market's total sales.

In this case, for every $100 sold by the total coffee market in San Francisco, BruceCo sells $1.

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4 years ago

Sharon spent the weekend with her friend amelia. amelia proposed a plan for shoplifting cd's from a local music store. sharon wa

Hatshy [7]

In the given situation, Amelia is wrong. Anyone who is fully aware and supported any criminal acts is considered a violator of the law. All people who participated in a criminal act is guilty of the crime.

However, it will only be punishable if there are witnesses and evidence.

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4 years ago

Leh Inc. recently borrowed $275,000 from its bank at a simple interest rate of 9 percent. The loan is for nine months and, accor

Andreyy89

Answer:

Monthly payment =$32,618.05

Explanation:

To arrive at the monthly installment, we would calculate the total interest due on the loan for nine months, add it to the principal and then divided the sum by 9 months

The monthly installment

= (Principal + total interest for 9 months)/ number of months

Interest for 9 months

= 9%× 9/12 × 275,000

= $18,562.5

Monthly installment

= (275,000 + $18,562.5)/9

=32,618.05 per month

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3 years ago

According to the terminology associated with changes in currency values, which of the following choices is the case when a curre

patriot [66]

Answer:

C) devaluation and revaluation

Explanation:

Devaluation and revaluation is the way that government changes the exchange rate of it's currency in relation to others.

Devaluation is the reduction of the exchange rate of a countrie's currency usually against the United States dollar. This reduces the currency value in relation to the foreign currency.

Revaluation on the other hand is when a country increases the exchange rate, making the value higher against foreign currency.

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3 years ago