Answer:
Cash receipt:
Particulars Amount
................................................................
Sales = $1,500
Sales tax @4.00 % = $60
................................................................
Total = $1,560
.................................................................
Explanation:
Data :
Merchandise cost in the sales slip = $1,500
sales tax rate for the merchandise = 4%
Now,
the cash receipt data will include the merchandise cost, the amount of tax and the total amount after including the tax
Thus,
The amount of tax on the merchandise = sales tax rate × Merchandise cost
or
The amount of tax on the merchandise = 0.04 × $1,500 = $60
Hence,
the total cost = cost of merchandise + the sales tax = $1,500 + $60 = $1,560
Cash receipt:
Particulars Amount
................................................................
Sales = $1,500
Sales tax @4.00 % = $60
................................................................
Total = $1,560
.................................................................
An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity cannot be detennined
<h3>What is
equilibrium price?</h3>
In economics, economic equilibrium is a state in which economic forces such as supply and demand are balanced and the values of economic variables do not change in the absence of external influences.
Equilibrium is the economic condition in which market demand and market supply are equal to each other, resulting in price stability. Normally, when the supply of goods and services exceeds the demand over time, the price falls, resulting in more demand.
Microeconomic and macroeconomic equilibrium are two types of economic equilibrium. Supply and demand between buyers and sellers are balanced in microeconomics. An economy achieves aggregate demand and aggregate supply balance through macroeconomics. Competitive prices are an essential component of the theory.
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Answer:
the Annual inventory cost is $800.
Explanation:
The computation of the total annual inventory cost is given below:
Demand, D = 4000
Order cost, S = $ 20
Holding cost, H = $ 4
So,
EOQ = sqrt(2 ×D × S ÷ H)
= sqrt(2 × 4000 × 20 ÷ 4)
= 200
Now
Annual inventory cost = Annual setup cost + Annual holding cost
= (D ÷ Q × S) + (Q ÷ 2 × H)
= (4000 ÷ 200 × 20) + (200 ÷ 2 × 4)
= 400 + 400
= $800
hence, the Annual inventory cost is $800.
Answer:
break-even level of output for this project (ignoring taxes)? (2 decimal places)
d1) What is the accounting break-even level of output for this project? (2 decimal places)
d2) What
Question Completion:
Prepare an Income Statement for the month of June.
Answer:
Windsor, Inc.
Income Statement for the month ended June 30, 2017:
Service Revenue $7,730
Supplies expense 1,100
Maintenance and
repairs expense 700
Advertising expense 400
Utilities expense 200
Salaries and
wages expense 1,630 $4,030
Net Income $3,700
Explanation:
Windsor, Inc. Income Statement is where the revenues and expenses are summarized in order to arrive at the net income or profit of the business. Temporary accounts are closed to the income statement. These are accounts that are periodic in nature. They are not permanent accounts, which are transferred to the next period. The only element of the income statement that is taken to the balance sheet is the net income or loss.
