Answer:
$ 97,900
Explanation:
ASSETS = LIABILITIES + OWNERS CAPITAL ( Equity)
Answer:
$510 is costs assigned to ending inventory
Explanation:
According to Last-In- First-Out method of inventory valuation , items of stock received last is sold first.
As a result, the sale of 390 units on January 26 is from the purchases of 25 January (110 units), January 9 (80 units) and 200 units from the purchase made on January 1st.
Above all, closing inventory is items bought on January 1st.
Value of closing inventory=150*$3.40=$510
Answer: US$ 2.58
Explanation:
Absolute PPP holding means that the cost of the Elkhead beer is the same in the United States and Canada with the only variation in price being down to the exchange rate.
The spot rate is $1 is to CAN$1.06 which is the current rate.
Beer is CAN $2.74 so in US$ it will be;
=
= US$ 2.58
Answer:
The amount of cash received is $2940
Explanation:
The cash received by Syfy on July 24 will be for the amount due after accounting for sales return by Eureka and after deducting the sales discount / discount allowed.
The balance in accounts receivable account of Syfy after sales return by Eureka on July 20 will be, 5000 - 2000 = $3000
The payments terms allow a 2% discount if payment is made within 10 days of purchases. Eureka paid within the discount period thus it availed a discount of,
3000 * 0.02 = $60
The amount of cash received by Syfy is = 3000 - 60 = $2940