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LuckyWell [14K]
3 years ago
5

Presented below is information related to Splish Company. Cost Retail Beginning inventory $362,797 $286,000 Purchases 1,370,000

2,145,000 Markups 95,100 Markup cancellations 14,800 Markdowns 32,900 Markdown cancellations 5,100 Sales revenue 2,193,000 Compute the inventory by the conventional retail inventory method.
Business
1 answer:
KiRa [710]3 years ago
5 0

Answer:

$200,455

Explanation:

For calculating the inventory by the conventional retail inventory method. we required to do the following computations which are shown below:

Using cost method

Goods available for sale:

= Beginning inventory + Purchases

= $362,797 + $1,370,000

= $1,732,797

Using retail method

Goods available for sale:

= Beginning inventory + Purchases  + Net markups - Net markdowns

= $286,000 + $2,145,000 + $80,300 - $27,800

= $2,483,500

Now

Cost to retail ratio = $1,732,797 ÷ ($286,000 + $2,145,000 + $80,300)

                             = $1,732,797 ÷ $2,511,300

                             = 0.69

Now

Estimated ending inventory at retail

= Goods available for sale under Retail method - Sales revenue

= $2,483,500 - $2,193,000

= $290,500

So,

Estimated ending inventory at cost:

= Estimated ending inventory at retail × Cost to retail ratio

= $290,500 × 0.69

= $200,455

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jeka57 [31]

Answer:

The expected return is 10.95%

Explanation:

CALCULATE THE EXPECTED RETURN OF X

State _____Probability __X_____Expected return

Boom ____ 0.25 ______22%  ___5.50%

Normal ___ 0.60 ______15%  ___ 9.00%

Recession _0.15 _______5% ___ <u>0.75%  </u>

Total ______________________<u>15.25%</u>

CALCULATE THE EXPECTED RETURN OF Y

State _____Probability __Y_____Expected return

Boom ____ 0.25 ______10%  ___ 2.50%

Normal ___ 0.60 ______9%  ____5.40%

Recession _0.15 _______8% ___ <u>1.20%  </u>

Total ______________________<u>9.10%</u>

Now calculate the weighted average return based on investment in each portfolio

Expected return = ( Expected return of Assets X x Weight of Asset X ) + ( Expected return of Assets Y x Weight of Asset Y )  

Expected return = ( 15.25% x $3000/$10000 ) + ( 9.10% x $7000/$10000 )  

Expected return = 4.575% + 6.370%

Expected return = 10.945%

Expected return = 10.95%

5 0
3 years ago
Required-: JOURNAL ENTRY (ACCOUNT)
damaskus [11]

- Hey there , ronisha!

Answer:

\large{ \tt{SEE \: THE \: ATTACHED \: PICTURE}}

\large{ \tt{E \: X \: P \: L \: A \: N \: A \: T \: I \: O \: N}} :

  • Full settlement generally means DISCOUNT ALLOWED.

  • Firstly , Read out the question and try to understand. It says we purchased some stuffs of Rs 30000 from the sansee stores and we payed Rs 28000 in full settlement which implies that we received the discount of Rs 30000-28000 i.e Rs 2000.

  • You must have known the rules for debit and credit. As we know In case of personal account , Debit : The receiver , We have sansee stores as the receiver so we placed it in debit side.

  • Remember: When the question says that the cash is payed through cheque , you should always consider cheque as a bank. Now , In the case of personal account , Credit : The giver. Who's the giver? Of course , bank! So , we placed it in credit side.

  • Now , In case of nominal account , Credit : the incomes or gains . The question says we received the discount so obviously it's not expenses. So, We placed discount received in credit side. You must have studied that Every debit should have equal credit. And we're done!

- Hope this helps! Please let me know if you have any questions regarding my answer and also don't hesitate to reach out to me if you need any other help! :)

7 0
2 years ago
Batista Company management wants to maintain a minimum monthly cash balance of $19,900. At the beginning of April, the cash bala
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Answer:

the amount must be borrowed is $8,900

Explanation:

The computation of the amount must be borrowed is shown below:

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Add: cash receipts $244,400

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Cash balance after disbursements $11,000

Minimum monthly cash balance $19,900

Amount to be borrowed $8,900

hence, the amount must be borrowed is $8,900

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lorasvet [3.4K]

The level of organizational culture that is being described in the scenario above is the basic underlying assumptions in which this level focuses more on taking beliefs for granted in a way that they use their thoughts and feelings in a course of action in which Bill does because of his beliefs.

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Rina8888 [55]

The correct statement is option C. OAS reflects the credit risk and liquidity risk of the bond over the treasury benchmark rates. Read below about a callable bond.

<h3>What is a callable bond?</h3>

A callable bond is a type of bond that permits the issuer of the bond to retain the privilege of redeeming the bond at some point before the bond reaches its date of maturity. Consequently, the said point which is basis is 75.

Therefore, the correct answer is option C. OAS reflects the credit risk and liquidity risk of the bond over the treasury benchmark rates.

learn more about callable bond: brainly.com/question/24129882

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4 0
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