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serg [7]
3 years ago
15

Delta diamonds uses a periodic inventory system. the company had five one-carat diamonds available for sale this year: one was p

urchased on june 1 for $1,000, two were purchased on july 9 for $1,050 each, and two were purchased on september 23 for $1,100 each. on december 24, it sold one of the diamonds that was purchased on july 9. using the fifo method, its cost of goods sold for the year ended is:
Business
1 answer:
Fed [463]3 years ago
3 0
There are many benefits to using folders when working with lots of files.  Here are a few examples:

- You can use folders to sort your files by type, almost like drawers in a desk, so you might have folders for Music, Photographs, Documents, etc.

- You can use folders to group files together into a specific group.  For example in your Photographs folder you might have a folder titled BirthdayPhotographs for all the photographs from your birthday.

- As in the example above you can nest folders to create sub-categories.  Documents might include folders for Homework, Stories, Poems

- Folders can have different permissions applied to them, allowing you to keep personal files in a private folder only you can access, or secret files in a folder that doesn't show up in the normal list of folders!
You might be interested in
You're welcome. As a first step, our team analyzed the other potential primary contenders. The reality is that with such a stron
SCORPION-xisa [38]

Below is the complete question:

CANDIDATE: Thank you for agreeing to conduct some research to assess my potential as a candidate in the upcoming election.

CONSULTANT: You're welcome. As a first step, our team analyzed the other potential primary contenders. The reality is that with such a strong field, it is going to be difficult to gain the _______ of votes necessary to avoid a runoff unless you want to go negative from the start.

Answer:

Majority

Explanation:

The reality is that with such a strong field, it is going to be difficult to gain the MAJORITY of votes necessary to avoid a runoff unless you want to go negative from the start.

8 0
3 years ago
On January 1, 2019, Amazon issues $100,000 in bonds having a stated rate of 10%. The bonds mature in 2 years (Dec. 31, 2020) and
Nutka1998 [239]

Answer:

cash                   96,535 debit

discount on BP    3,465 debit

          Bonds Payable          100,000 credit

Explanation:

We need to determinate the price at which the bonds were issued:

Which is the present value of the coupon payment and maturity

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

Coupon payment: 100,000 x 10% / 2 = 5,000

time 4  (2 years x 2 payment per year)

rate 0.06  (12% annual / 2 = 6% semiannual)

5000 \times \frac{1-(1+0.06)^{-4} }{0.06} = PV\\  

PV $17,325.5281  

 

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity (face value)   $100,000.00  

time   4.00  

rate  0.06

\frac{100000}{(1 + 0.06)^{4} } = PV  

PV   79,209.37  

 

PV c $17,325.5281  

PV m  $79,209.3663  

Total $96,534.8944  

As the bonds are issued below face value there is a discount:

100,000 - 96,535 = 3,465

the entry will recognize the cash procceds and the creation of a liaiblity

we will also use an auxiliar account for the discount on the bonds

7 0
3 years ago
Prepare a direct materials purchasing plan for January, February, and March, based on the following facts. Lana Gonzales owns a
larisa [96]

Answer:

January cost $702,200

February cost $812,200

March cost $950,400

Total Purchase cost    

Particulars                     January February  March

Purchase cost of blades $ 207,200.00 $ 227,200.00 $ 230,400.00

Purchase cost of motor $ 495,000.00 $ 585,000.00 $ 720,000.00

                                        $ 702,200.00 $ 812,200.00 $ 950,400.00

 

Explanation:

R.M budget - blades    

Particulars  January February March April

Planned production  11000 13000 16000 12000

Blades req. per unit  4          4                 4                      4

Material req. for prod. 44000 52000 64000 48000

Add: Desired ending inventory 20800 25600 19200 0

Less: Beginning inventory  13000 20800 25600

Net units of blades req. 51800 56800 57600

Cost per blade  $             4.00 $             4.00 $             4.00

Purchase cost of blades $ 207,200.00 $ 227,200.00 $ 230,400.00

R.M budget - motor    

Particulars  January February March April

Planned production  11000 13000 16000 12000

Motor req. per unit  1 1 1 1

Material req. for prod. 11000 13000 16000 12000

Cost per motor  $           45.00 $           45.00 $           45.00

Purchase cost of motor $ 495,000.00 $ 585,000.00 $ 720,000.00

6 0
3 years ago
Cash $ 14,000 Accounts payable $ 42,000 Receivables 70,000 Other current liabilities 28,000 Inventories 210,000 Total CL $ 70,00
Tcecarenko [31]

Answer:

The ROE will increase by 7.69% to 14.29% from 7.5%

Explanation:

Current liabilities:

account payable 42,000

Other  28,000

Total Liabilities: 70,000

IF we want a current ratio of 2.3 then:

70,000 x 2.3 = 161,000 Current assets are needed.

Right now, the companny has 294,000 current assets so it will make inventories decrease by:

294,000 - 161,000 = 133,000

Then with that will purchase common stock:

280,000 - 133,000 = 147,000 common stock will be outstanding

The Return on equity will be:

21,000 / 147,000 = 0.142857 = 14.29%

While currently the ROE is:

21,000/280,000 = 0.075 = 7.5%

There will be an increase for: 14.29 - 7.5 =  6.79%

3 0
3 years ago
Anchor Company purchased a manufacturing machine with a list price of $93,000 and received a 2% cash discount on the purchase. T
r-ruslan [8.4K]

Answer:

$100,340

Explanation:

<em>The amount of cost recorded in the asset account would be:</em>

List price                                    $93,000

Less: Discount ($93,000*2%)   $1,860

Add: Freight                               $3,800

Add: Installation&Testing          <u>$5,400 </u>

Cost of the machine                 <u>$100,340</u>

Note: Insurance cost is not included in the cost of the machine

6 0
3 years ago
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