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Brut [27]
3 years ago
7

On July 10, Boogie Footware agrees to a contract to sell 800 pair of flapper shoes for $16,000 to Twenties, Inc. On September 1,

after 500 pair of have been delivered, Boogie and Twenties modify the agreement to reduce the price of the remaining 300 pair of flapper shoes to $10 a pair. During September, Boogie delivers 200 pairs of shoes. How much revenue will Boogie recognize for the month of September?
A) $1, 375
B) $2,000
C) $1,625
D) $3,000
Business
1 answer:
V125BC [204]3 years ago
8 0

Answer:

B) $2,000

Explanation:

The revenue to be recognized in September will be dependent on the quantity sold during the month and the unit cost of each item as agreed in the contract. The product of the unit cost of a pair  and the number of units delivered.

Given that Boogie delivers 200 pairs of shoes at $10 per pair, the total revenue to be recognized

= 200 * $10

= $2,000

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Account Title Amount Account Title Amt Accounts Payable ---------------------- $ 204,975 Income Taxes Payable --------------- 78
Archy [21]

Answer:

          Stockholders Equity

Preferred Stock                375,000

Common Stock                562,500

Additional Paid-in Capital   81,900

Retained Earnings        <u>    306,000 </u>

Total Equity                    1,325,4‬00

Explanation:

We look into the list only for the equity accounts:

Which are the preferred stock, the common stock

and the additional paid-in caital.

We will also include the retained earnings account

All this accounts increase the equity, so we ujust need to add them together.

8 0
3 years ago
on holiday weekends thousands of people picnic in state parks. some picnic areas become so overcrowded the benefit or value of p
tekilochka [14]

Answer:

a. tragedy of the commons

Explanation:

Based on the scenario being described within the question it can be said that the fee system corrects a problem known as the tragedy of the commons. This term describes a specific situation in a shared-resource system in which individuals go against the common good by depleting the shared resources through their collective actions in order to benefit their own self-interests.

8 0
3 years ago
Read 2 more answers
Wade Company is operating at 75% of its manufacturing capacity of 140,000 product units per year. A customer has offered to buy
DanielleElmas [232]

Answer:

Income will increase by $5 per unit

Explanation:

The income effect in case of the order accepted is presented below:

As we know that

Additional sales per unit $32

Direct material per unit $12

Direct labor per unit $9

And, the incremental variable overhead cost is $6 per unit

Since the fixed cost is the same so it does not affect the effect on income

So, the income effect would be

= $32 - $12 - $9 - $6

= $5 per unit

Since the answer comes in positive which means there is an increase in income

5 0
3 years ago
American Industries' outstanding bonds have a 25-year maturity and $1,000 par value. Their nominal yield to maturity is 9.25%, t
mezya [45]

Answer:

7.71%

Explanation:

Calculation to determine the bond's nominal coupon interest rate

First step is to determine the PMT using Financial calculator

FV = $1,000

N= 25 × 2 = 50 periods ( semi-annual)

i/y=9.25/2=4.63

PV= - 850

PMT=?

Hence,

PMT=38.55

Second step is to calculate the Annual coupon Payment

Annual coupon Payment =38.55x2

Annual coupon Payement= 77.10

Now let determine the bond's nominal coupon interest rate using this formula

Nominal coupon rate= Annual coupon payment/par value

Let plug in the formula

Nominal coupon rate=77.10/1000

Nominal coupon rate=7.71%

Therefore the bond's nominal coupon interest rate is 7.71%

7 0
3 years ago
Can someone think of a company that cost up to at least 100k that doesn’t exist
Drupady [299]

Answer: A company that what at least cost a 100k is an oil rig  

Explanation: The reason why i say that for is because they make a lot of money and then they have to produce the oil and some of that money goes on the rig and to the workers that work there.

7 0
3 years ago
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