Answer:
$2200000
Explanation:
Given: Beginning inventory= $500000.
Inventory purchased= $2000000 with discount of 10%.
Freight cost= $200000.
Ending Inventory= $300000.
Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
Opening parenthesis
⇒ Cost of goods sold= 
∴ Cost of goods sold= 
Hence, $2200000 is the company’s 2017 cost of goods sold.
Answer: Increase and ad will shift right to long-run equilibrium.
Explanation: A decrease in Taxes lead to an increase in the disposable income of the consumers. This results in higher consumer spending at the given income levels. As a result the AD curve shifts to the right towards the long run equilibrium level.
Answer:
$150,000
Explanation:
Given an intangible asset like a copyright, it is amortized using the straight-line method, thus, to determine the amount of amortization in a given year, the formula is to divide the copyright's value by the length of its useful life.
However, in this case, since the Golden Company has a binding commitment from another company to purchase its copyright AT THE END of the asset's USEFUL LIFE, then, the value of the copyright equals zero.
What this simply means is that, when calculating copyright amortization, Golden Company should utilize a residual value of $150,000, because the value of the copyright at that moment equals zero.
Answer:
May 10, 2020, 1,900 shares issued at $13
Dr Cash 24,700
Cr Common stock 7,600
Cr Additional paid in capital 17,100
The common stock account increases using the pay value as reference. For example, if the common stock account = $200,000 and the par value of the stocks = $4, then we know that the company has 50,000 common stocks outstanding.
If investors pay any amount over the stocks' par value, that amount must be reported as additional paid in capital, in this case for common stock.
Answer:
Segmented income statement of Tubaugh Corp (East Division)
Particulars Amount
Sales $320,000
Less: Variable Expenses <u>$175,000</u>
Contribution Margin $145,000
Less: Direct Fixed Expenses <u>$39,000</u>
Contribution to indirect expenses <u>$106,000</u>
Note: While calculating segement margin, indirect fixed expenses ($143,000 in this case)are not considered, these expenses are considered at the time of calculation of final net inome of company as a whole.
