Answer:
$1,260,000
Explanation:
Property Dividend is declared on 25th May, The net effect on this property dividend on retained earning is reduction of $1260000.
Answer:
The misstatement would result in the overstatement of assets by $9,000 and also an overstatement of stockholders equity by the same amount.
Explanation:
When the balance of year end inventory is overstated, the cost of goods sold will be understated and this will result in an overstatement of the net income (and by extension, owners equity).
Given that a company inadvertently counted its inventory as $98,000 instead of the correct amount of $89,000
Amount overstated = $98,000 - $89,000
= $9,000
Answer:
3363 cups of coffee
Explanation:
Given that the average selling price of a cup of coffee is $1.49 and the avergage variable expense per cup is $0.36 and average fixed expense per month is $1,300
The target profit is the difference between the total selling price and the total cost.
Let the number of units to be sold to make a target profits of $2,500 be T
The total cost will be
= 0.36T + 1300
The total sales
= 1.49T
Hence
1.49T - 0.36T - 1300 = 2500
1.13T = 2500 + 1300
1.13T = 3800
T = 3800/1.13
= 3362.83
Hence the company must sell about 3363 cups of coffee to make the target profit
If it’s free then I don’t think they need to determine the price bc it’s free
Answer:
the interest that need to pay each year is $275,000
Explanation:
The computation of the interest that have the company to pay every year is shown below;
= Principal × rate of interest × time period
= $5,000,000 × 5.5% × 5
= $1,375,000
Now for each year it is
= $1,375,000 ÷ 5 years
= $275,000
Hence, the interest that need to pay each year is $275,000