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omeli [17]
3 years ago
12

The Marchetti Soup Company entered into the following transactions during the month of June:

Business
1 answer:
fiasKO [112]3 years ago
3 0

Answer:

Explanation:

The journal entries are shown below:

1. Merchandise Inventory A/c Dr $200,000

             To Account payable A/c $200,000

(Being the inventory purchased is recorded)

2. Salaries Expense A/c Dr $51,000

                      To Cash A/c $51,000

(Being salaries expenses are paid for cash)

3. Cost of goods sold A/c Dr $142,000

               To Merchandise Inventory $142,000

(Being the merchandise is sold for cost)

Accounts receivable A/c Dr $255,000

                To Sales revenue A/c  $255,00

(Being the merchandise is sold on credit)

4.  Cash A/c Dr $235,000

        To Accounts receivable A/c $235,000

(Being the cash is collected)

5. Accounts payable A/c Dr 180,000

           To Cash A/c 180,000

(Being cash is paid)

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Answer:

The correct answer is letter "D": A&B.

Explanation:

Managers have several functions within an organization. Among them, they must <em>analyze information </em>-the accounting books of the company- to find out what products have maximized their production process and which ones have not. Besides, they must relate that information to the number of sales the company is processing given a certain period.

Thus, what is the best and low-selling products of a firm are questions that managers must ask to explore its<em> strengths, weaknesses, and opportunities</em>.

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When demand shocks lead to recessions, it is mainly due to unexpected changes in the:________.
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Answer:

When demand shocks lead to recessions, it is mainly due to unexpected changes in the:

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A company's chart of accounts is: a detailed list of the accounts that make up the five financial statement elements. the set of
polet [3.4K]

Answer:

A detailed list of the accounts that make up the five financial statement elements.

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Monopolistic competition means:
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The Pritzker Music Pavilion in downtown Chicago is a technologically sophisticated and uniquely designed performing arts venue t
jonny [76]

Answer:

a. What is the estimated contribution margin per ticket sold for the benefit concert?

contribution margin per ticket = ($15.50 + $2 + $17) - ($6 + $2.55 + $7) = $34.50 - $15.55 = $18.95

b. What are the estimated total fixed costs for the benefit concert?

total fixed costs = $21,000 + $85,000 = $106,000

c. What is the estimated profit from the benefit concert if 10,500 tickets are sold?

estimated profit = (10,500 x $18.95) - $106,000 = $92,975

d. How many tickets must be sold in order for concert profit to be $100,000?

number of tickets sold = ($106,000 + $100,000) / $18.95 = 10,870.71 ≈ 10,871 tickets sold

e. Assuming a tax rate of 31% on profits from the concert, what must dollar ticket sales be in order for after-tax concert profits to be $100,000?

$100,000 / (1 - 31%) = $144,927.54

number of tickets sold = ($106,000 + $144,927.54) / $18.95 = 13,241.56 ≈ 13,241.56 tickets sold

f. Assume that the organizers can negotiate the fixed payment for the pavilion's operating expenses. If the organizers expect to sell 10,500 tickets, how much can they afford to pay and still earn a profit of $100,000 (ignore taxes)?

contribution margin increases to $18.95 + $7 = $25.95

10,500 = ($21,000 + $100,000 + ?) / $25.95

$272,475 = $121,000 + ?

? = $151,475

you can pay up to $151,475 in fixed expenses to the pavilion

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