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erik [133]
3 years ago
5

Sarah stopped at the supermarket to quickly pick up some milk, bread, cat litter, and a tomato. When she saw the total come up o

n the screen, she swore that it was a dollar higher than it should be. But no, the prices were all correct on her receipt. It was just that they had all gone up. So had the cost of clothing, cars, and most everything else. This is called __________
Business
1 answer:
leva [86]3 years ago
3 0
A tax on purchases, also Called sales tax
You might be interested in
On January 1, 2020, Jacobs Company sells land financed through a $16,000 note, issued by Andress Company. The note is a $16,000,
Vlad [161]

Answer:

Note: <em>See attached picture for journal entry schedule for the question</em>

<em />

Fair Value of Land = -PV(I, N, PMT, FV, Type)

Fair Value of Land = -PV(8%, 2, 16000*4%, 16000, 0)

Fair Value of Land = -PV(8%,2,640,16000,0)

Fair Value of Land = $14,859

                                Journal Entry

Date        Account tile and explanation        Debit       Credit    

Jan. 1       Notes Receivable                           $16,000

                       To, Discount on Notes                             $1,141

                       To, Land                                                    $14,859

Dec. 31    Cash                                                  $640

                Discount on Notes                           $549  

                       To, Interest Revenue (14859*8%)             $1,189

Dec. 31     Cash                                                  $640

                 Discount on Notes                           $593

                        To, Interest Revenue (14859+549)*8%    $1,233

Dec. 31      Cash                                                  $16,000

                         To, Notes Receivable                               $16,000

3 0
3 years ago
Bristol Company's contribution margin income statement is presented below. Sales for the current period consisted of 7,500 units
avanturin [10]

Answer and Explanation:

The computation is shown below:

The Selling price per unit = $225,000 ÷ 7500 = $30

ANd,  

Variable cost per unit = $135,000 ÷ 7500 = $18

a) Breakeven point = Fixed cost ÷ Contribution margin per unit

= $48,000 ÷ ($30 - $18)

= 4000 units

b) Breakeven dollars = Breakeven point × selling price per unit

= 4000 × 30

= $120,000

C) Margin of Safety in dollars = Sales Revenue - Breakeven dollars

= $225,000 - $120,000

= $105,000

d) Margin of Safety in percent

= $105,000 ÷ $225,000

= 46.67%

5 0
3 years ago
What is the IRR of the following set of cash flows? (Do not round intermediate calculations. Enter your answer as a percent roun
MrRissso [65]

Answer: 14.59%

Explanation:

The Internal Rate of Return(IRR) is the discount rate that brings the Net Present Value to zero. It is used to decide the viability of projects. The project is generally considered viable if the Cost of capital is less than the IRR.

You can use Excel to calculate the IRR;

= IRR(-15,800,6,500,7,800,6,300)

From the picture attached you can see that the IRR is 14.59%

3 0
3 years ago
Bellucci Corporation has provided the following information: Cost per UnitCost per Period Direct materials$6.70 Direct labor$3.5
Nikolay [14]

Answer:

The incremental manufacturing cost that the company will incur if it increases production from 10,500 to 10,501 units is closest to $11.40

Explanation:

It is important to note that the question requires The incremental manufacturing cost that the company will incur if it increases production from 10,500 to 10,501 units

From Production of 10500 units to 10501 units, there is an increment of 1 unit.

<u>Lets find the incremental cost of 1 unit.</u>

1.To do this we only consider variable manufacturing costs only.

2.Since increase is within the relevant range, the fixed manufacturing overheads do not change.

3.Also Ignore all non- manufacturing overhead as they do not form part of manufacturing costs.

                                                         Extra 1 Unit

Direct materials                                    $6.70

Direct labor                                           $3.50

Variable manufacturing overhead     $1.20

Total Cost                                             $11.40

4 0
4 years ago
Riverrocks realizes that it will have to raise the financing for the acquisition of raft adventures by issuing new debt and equi
Juliette [100K]

Its a pretty hard question but still u can someone else

7 0
3 years ago
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