Based on the various additions as well as discount, the total cost of the dress would be<u> $149.00</u>
The cost of the dress after the markup would be:
<em>= Wholesale cost x ( 1 + markup)</em>
= 105 x (1 + 65%)
= 105 x 1.65
= $173.25
After the discount, the cost is:
= 173.25 x (1 - 20%)
= $138.60
The cost after the sales tax is:
= 138.60 x (1 + 7.5%)
= $148.995
= $149.00
In conclusion, the cost of the dress is $149.00
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Answer:
A monopolist does not have a supply curve because price and quantity are decided at the same time.
Explanation:
A supply curve is generally upward sloping showing a direct relationship between the price level and quantity supplied. In case of a perfectly competitive market, the demand curve is a horizontal curve, showing marginal; revenue and average revenue. The firm here is a price taker and decides the quantity to be supplied according to the price level. The firm is able to maximize profit at the level of output where the price is equal to marginal cost.
However, in case of a monopoly, the firm is a price maker. There is no unique relation between price and quantity. The price and quantity to be supplied are determined at the same time at the point where marginal revenue is equal to marginal cost.
Net public debt is gross public debt minus the portion that is held by government agencies
Public debt is the total amount borrowed by the government, including all obligations, to meet its development budget. It must be paid out of the Consolidated Fund of India. The term "debt obligations" is also used to describe the total liabilities of the federal and state governments, even though the Union government expressly distinguishes its financial obligations from those of the states.
The ability of the government to issue debt has been crucial in the development of states. Public debt has been linked to the establishment of democracy, private financial markets, and modern economic expansion..
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Answer:
1. $5,700
2.
Dr depreciation expense $1,690
Cr accumulated depreciation $1,690
Explanation:
Crane Chemicals Company:
Under the straight-line method, the amount of depreciation remains the same over the useful life of the asset, in other words, the depreciation expense for 1 year to year 5 would be the same.
annual depreciation=(cost-salvage value)/useful life
annual depreciation=($31,400-$2,900)/5=$5,700
Salt Creek Country Club
annual depreciation=(cost-salvage value)/useful life
annual depreciation=( $17,500-$600)/10=$1,690
The journal entries for depreciation would be a debit to depreciation expense and a credit to accumulated depreciation accounts
Answer:
July 19;
Dr: Cash -----------------$784
Dr: Sales Discount----$16
Cr: Accounts Receivable--------$800
Explanation:
On July 19, the business must have factored in the $100 goods that was returned on July 12, so this will automatically reduce the accounts receivable to $800($900 - $100).
The discount does not reflect if paid on the last day of the month, so the discount of 2percent is still on as at July 19. The discount will be $16(2% of $800) and the amount of cash to be expected will be $784($800-16).
Therefore, the adjusting entry will be:
July 19;
Dr: Cash -----------------$784
Dr: Sales Discount----$16
Cr: Accounts Receivable--------$800