Answer:
Debit Cost of Goods Sold $500
Explanation:
When inventory is purchased, debit inventory and credit cash or accounts payable. When inventory is sold, credit inventory (with the cost of inventory sold) and debit cost of goods sold(p/l).
Further more, sales is recognized by crediting sales account and debiting cash or accounts receivables.
As such, if original cost of the merchandise to X-Mart was $500, entries required would include a credit to merchandise inventory $500 and Debit Cost of Goods Sold $500.
Answer:
The correct answer is
A) An exchange of a long position in a fixed-rate bond for a short position in a floating-rate note.
Explanation:
Swapping a fixed interest for a floating one can occur if the fixed interest tenure in comparison to a floating exchange rate becomes less expensive for the entity who took the loan.
Also executing a swap in interest rates (that is giving up the fixed tenure for the floating tenure) helps to ensure that liabilities are kept at minimum whilst assets are maximised.
It is important to note that the capital remains unmodified.
Cheers
Answer:
$200,000
Explanation:
The computation of Net Income is shown below:-
The green lawn firm is over-capable of approving the order. The extra fixed costs do not have to be incurred. This way, fixed costs are avoided and only variable costs need to be incurred.
For computing the net income first we need to find out the profit per unit which is here below:-
Profit per unit = Sell price per unit - Variable Cost per unit
= $1,200 - $1,000
= $200
Total Profit = Profit per unit × 1,000 unit order
= $200 × 1,000 unit order
= $200,000
So, net income increased by $200,000
Therefore for computing the total profit we simply applied the above formula.
Answer:
a) gross pay
c) $1,496.34.
Explanation:
The realized income is the amount you actually received and it is taxable. According to this, the answer is gross pay as it is the money you earn before taxes are deducted.
-Realized income:
$12.75*40= 510*4 = $2,040
FICA (7.65%)= $156,06
Federal withholding (12%)= $244,8
state withholding (7%)= $142,8
$2,040-$156,06-$244,8-$142,8= $1,496.34
Answer:
adjust for purchasing power and conditions existing in the local market
Explanation:
the concept of Equity theory describes how resources can be distributed in a fair manner in comparison to others. Sophia has to adjust for what the money she receives can buy her and the prevailing conditions in the market in her own area. This is because in this theory, pay scale is affected by the purchasing power and condition of the market in whatever area that a person lives.
