1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kari74 [83]
3 years ago
11

Cost of merchandise sold reported on the income statement was $155,000. The accounts payable balance increased $8,000, and the i

nventory balance increased by $21,000 over the year. Determine the amount of cash paid for merchandise.
Business
1 answer:
RideAnS [48]3 years ago
4 0

Answer:

Cash paid 168,000

Explanation:

Assuming that there were no inventory at start of the year

purchases during the year :

Sold                                                     = 155

Closing inventory                              = 21

Total purchase (155+21)                    = 176

Cash paid for merchandise = total purchase - increase in liability

Cash paid = 176-8 = 168

You might be interested in
3. In ICS, the members of the Command Staff assume the title of:
Orlov [11]
In ICS, the member of the command staff assume the title of OFFICER. Incident Command System [ICS] is the model tool for command, control and coordination of a response and provides a mean to coordinate the efforts of individual agencies as they work together toward achieving the common goal of stabilizing the incident and protecting lives, properties and the environment.
3 0
3 years ago
You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account an
Alex

Answer:

The withdrawals will be of  $ 11,379.014 per month

Explanation:

Future value of the annuities:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C         750.00

time 360(30 years x 12 monhs per year)

rate 0.008333333 (10% / 12 months)

750 \times \frac{1-(1+0.00833)^{-360} }{0.008333} = PV\\

PV $1,695,365.9436

C \times \frac{(1+r)^{time} -1}{rate} = PV\\

C         250.00

time 360 (30 years x 12 monhs per year)

rate             0.005 (6% / 12 months)

250 \times \frac{(1+0.005)^{360} -1}{0.005} = PV\\

PV $251,128.7606

Total 1,695,365.84 + 251,128.76 = 1.946.494,6‬

and from here we withdraw for 25 years:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 1,946,495

time 300 (25 years x 12 months)

rate 0.004166667 (5% / 12 months)

1946494.6 \div \frac{1-(1+0.004167)^{-300} }{0.004167} = C\\

C  $ 11,379.014

6 0
3 years ago
All the different management fees and fund's operating costs are often referred to as a(n):
neonofarm [45]
The answer to this question is letter B. expense ratio.
All the different management fees and fund's operating costs are often referred to as <span>expense ratio.</span>
 >The expense ratio is the annual fee that all funds  charge their shareholders. It expresses the percentage of assets deduced each fiscal year for fund expenses, including 12b-1 fees, management fees, administrative fees, operating costs, and all other asset-based costs incurred by the fund.
4 0
3 years ago
Watson Company purchased assets of Holmes Ltd. at auction for $1,390,000. An independent appraisal of the fair value of the asse
____ [38]

Answer:

Dr land        $278,000

Dr building  $347,500

Dr equipment $556,000

Dr inventories $208,500

Cr cash                                 $1,390,000

Explanation:

The total amount spent in acquiring the assets is $1,390,000 which needs to be shared between the assets acquired on the basis of individual values of the assets

Total of individual assets' values=$304000+$380000+ $608000+$228000=$ 1,520,000.00  

Cost attributable to land:$304000/$1520000*$1,390,000=$ 278,000.00  

Cost attributable to Building:$380000/$1520000*$1390000=$ 347,500.00  

cost attributable to equipment=$608000/$1520000*$1390000=$556,000.00

cost attributable to inventories=$228000/$1520000*$1390000 =$208,500.00  

6 0
3 years ago
What happens to the price and the quantity bought and sold in the cocoa market if countries producing cocoa experience a drought
Rashid [163]

Answer: Supply of cocoa will fall; Demand rises; Price increases.

Explanation:

A drought is when there is little or no rainfall in a particular area. When countries that are producing cocoa experience a drought, this will lead to a reduction in the supply of cocoa as there will be lesser cocoa available for farmers to supply.

Then, due to the new study which is released demonstrating the health benefits of cocoa, this will lead to an increase in the demand for cocoa. The demand will rise and since there's increase in demand and reduction in supply, the price will rise.

4 0
3 years ago
Other questions:
  • ConsecoConseco Oil Company has an account titled Oil and Gas Properties. ConsecoConseco paid $ 6 comma 600 comma 000$6,600,000 f
    12·1 answer
  • Best Bagels, Inc. (BB) currently has zero debt. Its earnings before interest and taxes (EBIT) are $100,000, and it is a zero gro
    13·1 answer
  • stock that has a current price of $25.00, a beta of 1.25, and a dividend yield of 6%. If the Treasury bill yield is 5% and the m
    10·1 answer
  • In a sample of 800 students in a university, 160, or 20%, are Business majors. Based on the above information, the school's pape
    14·1 answer
  • What is a sales quota? Group of answer choices
    9·1 answer
  • Butler Automotive developed a new diagnostic testing procedure that is expected to increase sales by $10,000 per month. As more
    12·1 answer
  • Instead of offering its products through "brick-and-mortar" companies, a book distributor decides to market directly to customer
    9·1 answer
  • What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?
    5·1 answer
  • Mr. Brown wants to buy a Tesla Model S car, whose price is $100, 848. The dealer offers a loan plan: $30, 000 downpayment, $X at
    8·1 answer
  • Suppose at her current level of consumption, a person enjoys going to an additional baseball game three times as much as seeing
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!