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s344n2d4d5 [400]
3 years ago
5

Philo T. Farmsworth is a corn farmer with a 40-acre tract of land. Each acre can produce 100 bushels of corn. The cost of planti

ng the tract in corn is $20,000, and the cost of harvesting the corn is $10,000. In May, when corn is selling for $10 per bushel, Philo plants his crop. In September the price of corn has fallen to $2 per bushel. What should Philo do? Explain, assuming that there are no costs involved with bringing the corn to market to sell.
Business
1 answer:
k0ka [10]3 years ago
7 0

Answer:Philo should sell.

Explanation:

If price falls $2, the final price would be $8. So Philo's income will be:

40 acre x 100 bushel x $8 = $32.000

And costs will be:

Planting cost = $20.000

Harvesting cost = $10.000

Total cost = $30.000

$32.000 - $30.000 = $2.000

So Philo's earning will be $2.000

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Splish Brothers Inc. uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
harkovskaia [24]

Answer:

Splish Brothers Inc.

Perpetual Inventory Schedule using moving average costs:

Date       Description   Number   Average Cost  Total Cost          Cost

                                     of Units                                                   Balance

May 7         Purchase       105               $7                $735            $735

June 1        Sales              (55)              $7                  385              350

July 28       Purchase         63             $18                1,134            1,484

August 27  Sales              (84)            $13.1327        1,103               381

Explanation:

a) Data and Calculations:

Date                          Number of Units   Unit Price    Total Costs

May 7         Purchase           105                $7                $735

June 1        Sales                  (55)               $7                  385

July 28       Purchase            63              $18                 1,134

August 27  Sales                 (84)             $13.1327        1,103

Cost of goods sold = $1,488 ($385 + $1,103)

Ending inventory =       $381

8 0
3 years ago
On July 31, 2017, Crane Company had a cash balance per books of $6,355.00. The statement from Dakota State Bank on that date sho
Ivan

Question Completion:

Prepare a bank reconciliation statement as of July 31, 2017.

Answer:

<h3>Crane Company</h3>

Bank Reconciliation Statement as of July 31, 2017

Balance as per bank statement         $7,905.80

Add Uncredited deposits                      1,309.30

Less Checks outstanding                      1,979.10

Balance as per adjusted cash book  $7,236.00

Explanation:

a) Data and Analysis:

July 31, 2017:

Cash balance per books of $6,355.00

Bank statement balance = $7,905.80

Reconciling items:

1. Bank service charge$19.00

2. Direct EFT receipt $1,630.00  

3. Uncredited deposits $1,309.30

4. Understated check No. 2480 $45

5. Checks outstanding $1,979.10

6. NSF charge of $685.00 (W. Krueger)

Cash Book Adjustment as of July 31, 2017

Balance as per cash book        $6,355.00

add: Direct EFT receipt                1,630.00

less: Bank service charge                 19.00

Understated check No. 2480          45.00

NSF charge                                    685.00

Adjusted Cash Book balance  $7,236.00

3 0
3 years ago
​________ is the degree to which employees believe the organization values their contribution and cares about their​ well-be
shtirl [24]

Answer:  

Organizational commitment                  

Explanation:

Organizational loyalty or commitment refers to the relationship of the bond that workers share with their organization. Overall, workers who are engaged in their organization usually feel connected to the organization, these workers assume that they suit in and make sure that they comprehend the organization's objectives.

Such workers ' economic value would be that they appear to become more motivated in their job, demonstrate fairly high efficiency, and are much more assertive in providing support.

8 0
3 years ago
You’re a bright, female investment analyst about to give a major presentation to a group of bankers supporting a corporate acqui
Ivanshal [37]

Explanation:

In this case, the ideal is to reject a task that is not mandatory in your contract. The boss's attitude in this situation was somewhat sexist, as it reduced the professional skills of a female investment analyst to having to be liked and serving coffee to bankers, since the professional was there to make a great professional presentation.

These unprofessional attitudes can be combated with an assertive attitude, without the professional feeling cornered by the possibility of suffering reprisals, but it is by maintaining an ethical, professional attitude and imposing respect, that it is possible for such unethical acts to be combated and not accepted any more. formal work environment.

7 0
3 years ago
Which of the following is true about finding the present value of cash flows? Finding the present value of cash flows in future
Neko [114]

Answer:

The correct answer is A: %70,154

Explanation:

Giving the following information:

True: Finding the present value of cash flows in future years tells you how much you would need to invest today so that it would grow to equal the given future amount.

What is the value today of a $158,000 cash flow expected to be received 12 years from now based on an annual interest rate of 7%?

We need to use the following formula:

PV= FV/(1+i)^n

FV= final value

i= interest rate

n= number of years

PV= 158000/(1.07^12)= $70,154

3 0
3 years ago
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