How to calculate Open-to-buy:
Open-to-buy = planned purchases - (orders received + merchandise ordered)
Planned purchases = $2,500
Received orders = $1,200
Ordered merchandise = $700
Open-to-buy = $2,500 - ($1,200 + $700)
Open-to-buy = $2,500 - $1,900
Open-to-buy = $600
Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
Tempurature. This is because if it is in any other container, it could absorb the sun's heat, making the milk warmer. With the clear bottle, the sun's heat will mostly pass through it.
<span>The extra $2 that she made beyond the $5 she was willing to sell her T-shirts for represents producer surplus. Producer surplus is defined as the difference between the amount of money the producer is willing to supply versus the amount actually supplied. Because she was willing to sell for $5 but sold for $7 and had an increase in money supplied, this example is one of producer surplus. </span>
