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Basile [38]
3 years ago
15

During its first year of operations, mack's plumbing supply co. had sales of $630,000, wrote off $10,100 of accounts as uncollec

tible using the direct write-off method, and reported net income of $69,300. determine what the net income would have been if the allowance method had been used, and the company estimated that 1 3/4% of sales would be uncollectible.
Business
1 answer:
Reil [10]3 years ago
3 0
<span>The answer is 516,250 by first calculating expenses (6,500,000-40,000-expenses=590,000), net income = revenue-expenses.</span>
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What type of relationship exists between the growth of the money supply and changes in the inflation​ rate?
blondinia [14]

Answer: A direct relationship

Explanation: The link or relationship between money supply and inflation rate : In normal economic circumstances, if the money supply grows faster than real output it will cause inflation. In a depressed economy (liquidity trap) this correlation breaks down because of a fall in the velocity of circulation. This is why in a depressed economy Central Banks can increase the money supply without causing inflation. This occurred in the US between 2008-14

However, when the economy recovers and velocity of circulation rises, increased money supply is likely to cause inflation.

In other words ,If you are Increasing the money supply faster than the growth in real output will cause inflation. The reason is that there is more money chasing the same number of goods. Therefore, the increase in monetary demand causes firms to put up prices.

5 0
3 years ago
To help you reach a $5,000 goal in five years from now, your father offers to give you $500 now. You plan to get a part-time job
elena55 [62]

Answer:

He needs to deposit each year $747.38

Explanation:

Giving the following information:

To help you reach a $5,000 goal in five years from now, your father offers to give you $500 now. You plan to get a part-time job and make five additional deposits, one at the end of each year for 5 years. Your first deposit will be made at the end of the first year. The money is deposited in a bank that pays 7% interest.

First, we need to calculate the final value of the first $500 that the father gave him:

FV= PV*(1+i)^n

FV= 500*(1.07)^5=

FV= 701.28

Now, we have to calculate the annual deposit required:

Difference= 5,000 - 701.28= 4,298.72

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (4,298.72*0.07)/[(1.07^5)-1]

A= $747.38

7 0
3 years ago
Blues Inc. manufactures jeans in the cutting and sewing process. Jeans are manufactured in 40-jean batch sizes. The cutting time
xz_007 [3.2K]

Answer:

1. Value added time = Cutting + Sewing time

Value added time = 5 min + 20 min

Value added time = 25 minutes

Non-value added time = Total within batch wait time + Move time

Non-value added time = (25 minutes*(40-1)) + 2 minutes

Non-value added time = 977 minutes

Total lead time = Value added time + Non-value added time

Total lead time = 25 minutes + 977 minutes

Total lead time = 1,002 minutes

2. Value added ratio = Value added time / Total lead time

Value added ratio = 25 minutes / 1,002 minutes

Value added ratio = 0.02495

Value added ratio = 2.5%

5 0
3 years ago
A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at the end of its useful life. Monthly d
Nezavi [6.7K]

Answer:

the annual depreciation rate is 25%

Explanation:

The computation of the depreciation rate is shown below:

= Yearly depreciation ÷ (Purchased cost - salvage value)

= ($3,000 × 12 months) ÷ ($180,000 - $36,000)

= $36,000 ÷ $144,000

= 25%

Hence, the annual depreciation rate is 25%

we simply applied the above formula

7 0
2 years ago
Book Co. has 1.4 million shares of common equity with a par​ (book) value of $ 1.00​, retained earnings of $ 28.1 ​million, and
mash [69]

Explanation:

The computations are shown below:

a. The market value of equity is

= $50.96 per share × 1,400,000  shares

= $71,344,000

b. The market value of debt is

= $105% × $21,100,000

= $22,155,000

c. Now the weights are as follows

Weight of equity is

= $71, 344,000 ÷ ($71,344,000  + $22,155,000 )  

=  0.7630

And,

Weight of debt = 1 - 0.7630

= 0.237

5 0
3 years ago
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