Winston Churchill was born when his father entered Parliament dependent or independent

ÂOaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,500 units during the year. The company has provided

MA_775_DIABLO [31]

Answer:

correct answer is A. $320,000

Explanation:

given data

sold = 7,500 units

Sales Revenue = $566,000

Purchases= 305,000

Selling and Administrative Expense = 68,000

Freight In = 13,000

Beginning Merchandise Inventory = 45,000

Ending Merchandise Inventory = 42,000

solution

we know that gross profit is equal to Sales minus Cost of goods sold .......1

so first we get here gross profit that is

gross profit = ( sales revenue + ending inventory ) - ( beginning inventory + purchase + freight in ) .........1

gross profit = ( $566,000 + $42000 ) - ( $45000 + 305000 + $13000 )

gross profit = $245000

so cost of good sold will be from equation 1

cost of good sold = $566,000 - $245000 = 321000 so approx

so correct answer is A. $320,000

7 0

3 years ago

100 free hope you do the same

andrey2020 [161]

Tyyyyyyyyysssssmmmmmmmm

7 0

3 years ago

Rebecca would like to set up an account to supplement her parents' retirement income for the next 15 years.

vova2212 [387]

Answer:

Explanation:

a.)

This is an annuity type of question. Using a financial calculator, input the following to find the PV of the Ordinary annuity;

Total duration; N = 15*12 = 300

Monthly rate; I/Y = 7.2%/12 = 0.6%

One-time future cashflow; FV = 0

Recurring monthly payment; PMT = 150

then compute present value; CPT PV = $20,845.24

b.) This is an <em>Annuity Due </em>type of question since the recurring monthly payment occur at the beginning of the month.

Using a financial calculator, change the mode to "BEG" and input the following to find the PV of the annuity due;

Total duration; N = 15*12 = 300

Monthly rate; I/Y = 7.2%/12 = 0.6%

One-time future cashflow; FV = 0

Recurring monthly payment; PMT = 150

then compute present value; CPT PV = $20,970.31

5 0

3 years ago

Select all that apply On December 1, Christy Co. accepted a 60-day, 6%, $1,000 note due January 30. On December 31, the appropri

kykrilka [37]

Answer:

Notes Receivable for $1,000. Cash for $1,010. Interest Revenue for $5. Interest Receivable for $5.

Explanation:

The journal entry to record the receipt of the payment is shown below:

Cash Dr $1,010

To Interest receivable $5 ($1,000 ×6% × 30 days ÷ 360 days)

To Interest revenue $5

To Note receivable $1,000

(being the receipts is recorded)

here cash is debited as it increased the assets and credited the interest receivable, interest revenue and note receivable as it increased the assets and revenue accounts

6 0

3 years ago

Flora, who owns and operates garden fresh organic farms, agrees to sell harvesters grocery a minimum quantity of fresh fruits an

Rina8888 [55]

<span>Breached. Explanation: A contract is a legally binding agreement between two parties. Once an agreement is signed between two parties, both parties are subject to terms and conditions written in the agreement. As in the above example, Flora agrees to sell harvesters grocery a minimum quantity of fresh fruits and vegetables every week for three months, that means Flora is subject to the agreement that she will sell that no matter what the future market price will be, whether it increases or decreases. As Flora decides not to deliver the agreed order, it is a violation of terms and conditions of the agreement/contract. So the contract is breached.</span>

7 0

3 years ago