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max2010maxim [7]
3 years ago
12

Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net reali

zable value (LO6-2, 6-3, 6-4, 6-5, 6-6) The following information applies to the questions displayed below.] At the beginning of October, Bowser Co.'s inventory consists of 66 units with a cost per unit of $34. The following transactions occur during the month of October October 4 Purchase 114 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, n/30. October 5 Pay cash for freight charges related to the October 4 purchase, $445. October 9 Return 25 defective units from the October 4 purchase and receive credit. October 12 Pay Waluigi Co. in full. October 15 Sell 144 units of inventory to customers on account, $11,520. Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $5 per unit for freight less $1 per unit for the purchase discount, or $54 per unit. ] October 19 Receive full payment from customers related to the sale on October 15. October 20 Purchase 84 units of inventory from Waluigi Co. for $54 per unit, terms 2/10, n/30. October 22 Sell 84 units of inventory to customers for cash, $6,720. (Note: For calculating the cost of inventory sold, ignore the possible purchase discount on October 20.) Record any necessary adjustment for lower of cost and net realizable value.
Business
1 answer:
NeTakaya3 years ago
8 0

Answer:Hi

Explanation:Hi

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The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown her
Stolb23 [73]

Answer:

The external financing needed for next year is $1,766,004.

Explanation:

The external financing needed for next year can be calculated using the following formula:

External financing needed = ((Total assets / Sales) * Change in sales) - ((Short-term liabilities / Sales) * Change in sales) - ((Projected sales * Profit margin) * (1 - Dividend payout ratio)) ................... (1)

Where;

Total assets =  $24,705,000

Sales = $30,500,000

Change in sales = Sales * Sales growth rate = $30,500,000 * 20% = $6,100,000

Short-term liabilities = Accounts payable = $6,405,000

Projected sales = Sales * (1 + Sales growth rate) = $30,500,000 * (1 + 20%) = $36,600,000

Profit margin = Net income / Sales = $2,630,550 / $30,500,000 = 0.0862475409836066

Dividend payout ratio = Dividends / Net income = $1,052,220 / $2,630,550 = 0.40

Substituting all the values into equation (1), we have:

External financing needed = (($24,705,000 / $30,500,000) * $6,100,000) - (($6,405,000 / $30,500,000) * $6,100,000) - (($36,600,000 * 0.0862475409836066) * (1 - 0.4))

External financing needed = $1,766,004

Therefore, the external financing needed for next year is $1,766,004.

8 0
2 years ago
Complete the following sentence.
tiny-mole [99]

Answer:

Auditor

Explanation:

If an interviewer has suspicions of fraud, the interviewer may call on a fraud AUDITOR to assess the situation.

This is because a FRAUD AUDITOR is a type of auditor who based on his experience and background, works as a professional in the gathering of verifiable evidence in terms of fraud and eventually serves as an expert witness during the legal proceeding of such cases.

8 0
2 years ago
Curtis is the manager of a footwear store. He carefully chooses his staff members and recruits employees who are attentive, frie
Vanyuwa [196]

Answer:

D) normative control

Explanation:

In business, normative controls refers to the practice of managing human resources using actions that shape their behavior. This type of approach focuses on behavior standards or norms more than on actual written policies. Sometimes the norms can even be informal, but that doesn't mean that they are less important.

In this case, Curtis pays a lot of attention to how his employees treat their customers and trains them to do it a certain way that he considers to be effective.

4 0
2 years ago
One year ago, you purchased 500 shares of stock for $22 a share. The stock pays $0.32 a share in dividends each year. Today, you
galben [10]

Answer:

no option is correct

long term capital gains = ($24.50 - $22) x 500 = $1,250

dividend income = $0.32 x 500 = $160

total return = $1,410

Maybe your teacher is asking about long term capital gains only. If that is the case, then option A. $1,250 is correct

Explanation:

total return = ending value - initial value + dividends received = (500 x $24.50) - (500 x $22) + (500 x $0.32) = $12,250 - $11,000 + $160 = $1,410

holding period return = (ending value - initial value + dividends received) / initial value = $1,410 / $11,000 = 0.1282 = 12.82%

8 0
2 years ago
What are other information that should be included in the deposit and withdrawal forms?​
aliina [53]

Answer:

account number needed , name of bank, withdrawing needs pin e.t.c

4 0
2 years ago
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