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
Marrrta [24]
3 years ago
5

] Anne is a bargain-minded shopper. Normally, her favorite toothpaste costs the same at both of her local supermarkets, but the

stores are having competing sales this week. At one store, there is a bonus offer: buy 2, get 1 free. At the other store, toothpaste is being sold at 40 percent off. Anne instantly opts for the first offer. Was that really the less-expensive choice?
Business
1 answer:
andrew11 [14]3 years ago
7 0

Answer:

The correct answer is: The second option.

Explanation:

As Anne is a bargain-minded shopper, she will constantly look for paying less as much as the purchases allow it. To determine which option is the less-expensive in the example, Anne should <em>determine what is the cost per toothpaste unit</em> at each of the two local supermarkets. Thus,

- First option:

  • Suppose the price of each toothpaste is "n".
  • The store offers is buy 2 and get 1 free.
  • Then, Anne is getting 3 toothpastes paying only for 2 or: 2 x n = 2(n).
  • It implies the price of each toothpaste is: \frac{2(n)}{3}=0.67n

- Second option:

  • As the toothpaste price is equal in both stores, it will be "n"
  • The store offers a 40% discount on each toothpaste.
  • Thus, each toothpaste is only 60% of "n" or: \frac{60(n)}{100} = 0.6n

So, <em>the less-expensive choice was the second.</em>

You might be interested in
The following inventory valuation errors have been discovered for Knox Corporation:
Whitepunk [10]

Answer:

Income +/- inventory adjustment

2015:   138,000 - 23,000 = 115,000

2016:  254,000 + 61,000 = 315,000

2017:   168,000 + 17,000 = 185,000

Explanation:

<u>Inventory Identity:</u>

Beginning + Purchases = Ending + COGS

As the mistake is on the right side it compensates by the other component which is COGS

<u><em>When the inventory is overstated</em></u> this means COGS is understated.

We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.

<u><em>When the inventory is understated</em></u> this means COGS is overstated.

We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.

7 0
3 years ago
A company pays each of its two office employees each Friday at the rate of $100 per day each for a five-day week that begins on
MatroZZZ [7]
<h3>Answer:</h3>

Debiting salaries Expense $400 and Crediting Salaries payable $400.

<h3>Explanation:</h3>

We are given;

1 employees earns $ 100 a day

Therefore;

2 employees will earn $ 200 a day

The month ends on Tuesday, but the two employees works on Monday and Tuesday.

  • Therefore, the month-end adjusting entry to record will be the amount earned by the two employees on the two days.

Two employees for 2 days = $200/day × 2 days

                                             = $400

  • But, salary is an expense, and in the accounts an increase in expense account is debited.
  • According to the rule of double entry, an increase in salaries expense decreases the salaries payable. Therefore, we debit salaries expense account and credit salaries payable account.
  • Therefore, the month-end adjusting entry to record the salaries earned but unpaid would be;

    Debiting salaries Expense $400 and Crediting Salaries payable $400.

3 0
3 years ago
The balance sheet category "Intangible Assets" includes:
AnnyKZ [126]

Answer:

b. patents, trademarks, and franchises. 

Explanation:

Intangible assets are assets that aren't physical, they cannot be seen.

Examples of intangible assets are goodwill, patents, trademarks, and franchises. 

8 0
3 years ago
A dollar available today is always worth more than a dollar not available until a future period.
Lostsunrise [7]

Answer:

The statement is: True.

Explanation:

The Time Value of Money is a concept that states a dollar today is always worth more than a dollar tomorrow. The theory relies on the earning capacity of money. The approach is the reason why entrepreneurs prefer to capitalize on their investments the soonest so the more money available now will represent for them more money accrued in the future.

8 0
3 years ago
Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is
Paul [167]

Answer:

$39,220

Explanation:

The maturity value of the note receivable on June 30, 2012

= Principal + Interest

= $40,000 + $40,000 x 6%

= $40,000 + $2,400

= $ 42,400

The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011

= 12 - 3 months ( July, Aug and Sep)

= 9 months.

Amount of deduction  

= $ 42,400 x 10% x 9/12

= $ 3,180

Finally, the Cash received by Ireland will be

= Maturity value - Discount

= $42,400 - $ 3,180

= $39,220

5 0
3 years ago
Other questions:
  • whether investments are reported as current assets or noncurrent assets depends on the company's intent. (points : 5) true false
    6·1 answer
  • In an interview with a television channel, the Public Relations manager of KP Oil explained what his company intended to do to t
    8·1 answer
  • Lincoln has used a piece of land in her business for the past five years. The land qualifies as §1231 property. It is unclear wh
    14·1 answer
  • The owner of a large manufacturing plant pays the base rate of $11.24 per $100 in wages paid for workers’ compensation insurance
    9·2 answers
  • The nation of Tazia exports agricultural products and in turn imports products that it does not produce such as computers and el
    13·1 answer
  • Consumer surplus is the a. amount of a good consumers get without paying anything. b. amount a consumer pays minus the amount th
    14·1 answer
  • SME Ads Inc. (SME) Steven Monahan owns SME Ads Inc., an advertising agency. At present, the company focuses on advertising only.
    12·1 answer
  • The following information relates to a companyâs accounts receivable: gross accounts receivable balance at the beginning of the
    13·1 answer
  • 1. How we can measure uncertainty in the environment?
    11·1 answer
  • True or false: The labor rate variance measures the productivity of direct labor. True false question. True False
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!