Answer:
The estimated inventory at the end of February is $73400 as shown below
Explanation:
Beginning Inventory $57,800
Plus: Net purchases $120000
Freight-in $2,700
Cost of Goods Available for Sale $180500
less: Cost of Goods Sold
Net Sales$180000
Less Estimated Gross Profit $81000
Estimated Cost of Goods Sold $99000
Estimated Inventory before Theft 81500
Less: Stolen Inventory 8,100
Estimated Ending Inventory 73400
Gross profit $180000*45%=$81000
Roy is a sole trader if he is not setting up a company instead starts a business.
<h3>What is a Business?</h3>
A business is the process of selling goods or services and earning revenue and profits through it, the business generates revenue which is deducted by the expenses incurred by the business. The business ensures the strategy to have a balance between these expenses and revenue so that there is some residue profit.
The sole trader is the business where the owner of the business is highly involved in day to day running of the business taking all the strategic decisions and responsible for all the debts of the business.
On the other hand a limited liability company is a business in which the owner of the company can be involved in day to day running of the operations but is not liable personally for the debts.
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Answer:
Paul is not maximizing his utility because MUd/Pd is greater than MUb/Pb
Explanation:
Marginal utility is the extra satisfaction derived from spending an additional unit of money on consuming a particular product or service.
In order to determine if he is maximizing his utility, we must calculate his utility per dollar, and this is done by dividing his Marginal Utility by the price.
Marginal Utility per dollar of DVDs is:
MUd/Pd = 23/11 = 2.09
Marginal Utility per dollar of books is:
MUb/Pb = 5/3 = 1.67
Utility is maximized when MUd/Pd is equal to MUb/Pb and Paul has exhausted his budget.
<span>Teamwork is a must necessary for any kind of business setup to grow. Salespeople have to build internal partnerships through teamwork by understanding the other team members and clarifying expectations. Fulfilling the commitments and focusing on little things too also help in achieving the goals. They must attend to the little things if they want to succeed.</span>
Answer:
A) Cash is debited for $294,000. and,
C) Common Stock is credited for $294,000.
Explanation:
When Shares are Issued for Cash, recognize the Assets of Cash (Debit) and also recognize an equity element - Common Stock (Credit).
