Answer:
1.
Sept - 30
DR Cash <u>$6,300</u>
CR Sales <u>$6,000</u>
CR Sales Tax <u>$300</u>
(<em>To record Cash sales and Tax Payable)</em>
<u>Working</u>
Sales Tax = 6,000 * 5%
= <em>$300</em>
2.
Oct - 15
DR Sales Tax Payable <u>$300</u>
CR Cash <u>$300</u>
(<em>To record remittance of Sales Tax to the State Government</em>)
3.
Sept - 30
DR Cost of Goods Sold <u>$3,900</u>
CR Merchandise Inventory <u>$3,900</u>
(<em>To transfer inventory to Cost of Goods sold) </em>
4. <em>Repeat question for question 2.</em>
5. <em>Repeat question for question 1.</em>
Answer:
More than $1500 price per car per month has to be dropped.
Explanation:
Given:
price per car = $20,000
car sale per month = 40
rate of increase in demand = 3
Solution:
Revenue R = Price × Quantity = P * Q
From the above given data
P = 20,000
Q = 40
R = P*Q
dQ/dt = 3
We have to find the rate at which the price is to be dropped before monthly revenue starts to drop.
R = P*Q
dR/dt = (dP/dt)Q + P(dQ/dt)
= (dP/dt) 40 + 20,000*3 < 0
= (dP/dt) 40 < 60,000
= dP/dt < 60000/40
= dP/dt < 1,500
Hence the price has to be dropped more than $1,500 before monthly revenue starts to drop.
Answer:
$8.31 million and No.
Explanation:
In this question, we have to find out the present value which is shown below:
= $1 + first year value ÷ ( 1 + discount rate) + second year value ÷ ( 1 + discount rate) ^ number of years + third year value ÷ ( 1 + discount rate) ^ number of years
= $1 + $2 million ÷ (1 + 10%) + ($3 million ÷ 1.10)^2 + ($4 million ÷ 1.10)^3
= $1 million + $1.82 million + $2.48 million + $3.01 million
= $8.31 million
No the package would not worth $10 million as its present value is $8.31 million
<u>Answer:</u> Personal goals and team fit.
<u>Explanation:</u>
As a student I would not have any experience which I can talk about at the job interview. It is important that I show case my personal goals which are short term and long term career goals. I also need to show that I desire to join the team and have the ability to work as a good team member.
The common skills required to fit into a team such as management skills, leadership skills, communication skills, time management skills, organizing skills etc employers will not understand when I fail to take time to develop these skills.
Answer:
It is more profitable to raise the selling price by $2.
Explanation:
To determine whether the company should raise the selling price, we need to determine the effect on income. <u>The best option is the one with the higher sales revenue.</u>
Sales revenue= selling price * number of units
<u>Current:</u>
Sales revenue= 5.5*2,200= $12,100
<u>Proposal:</u>
Sales revenue= 7.5*1,800= $13,500
It is more profitable to raise the selling price by $2.
