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3 years ago

5

You spend $5 on materials to make a scarf. You think you have added $10 of value, so you set the price at $15. Nobody buys the s

carf at that price, so you lower the price to $12, and someone buys it. What is the value of the scarf?

1 answer:

Serga [27]3 years ago

6 0

Answer: 12

Explanation:

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Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system a

anzhelika [568]

Answer:

April 2

Merchandise $6,200 (debit)

Accounts Payable : Lyon Company $6,200 (credit)

<em>Purchase of Merchandise on credit from Lyon Company (FOB)</em>

April 3

Accounts Payable : Lyon Company $200 (debit)

Cash $200 (credit)

<em>Payment of Shipping Costs included in the Invoice </em>

April 4

Accounts Payable : Lyon Company $450 (debit)

Merchandise $450 (credit)

<em>Return of unacceptable merchandise to Lyon Company</em>

April 17

Accounts Payable : Lyon Company $5,550 (debit)

Discount Received $111 (credit)

Cash $5,439 (credit)

<em>Settlement of Account with supplier and recognition of discount received</em>

April 18

Merchandise $11,700 (debit)

Accounts Payable : Frist Corp $11,700 (credit)

<em>Purchase of Merchandise on credit from Frist Corp</em> <em> (FOB)</em>

April 21

Accounts Payable : Frist Corp $500 (debit)

Merchandise $500 (credit)

<em>Allowance received from supplier (Frist Corp)</em>

<em />

Explanation:

There is some missing transactions for the dates closer to end of April.

However the rest of the journals and their narrations have been prepared. This will help with completing the rest of the transactions.

See journals above.

6 0

3 years ago

Suppose buyers of fountain drinks are required to send $0.50 to the government for every fountain drink they buy. Further, suppo

Mekhanik [1.2K]

Answer:

d. All of the above are correct.

Explanation:

a. This tax causes the demand curve for fountain drinks to shift downward by $0.50 at each quantity.

b. The price paid by buyers is $0.30 per drink more than it was before the tax.

This is true as the difference between $0.50 and $0.20 is $0.30. The price paid by buyers is indeed $0.30 per drink more than it was before the tax.

c. Forty percent of the burden of the tax falls on the sellers.

This is true as $0.20 of $0.50 is 40% and this tax burden falls on the sellers.

8 0

3 years ago

You want to start your own consulting business and believe it could produce cash flows of $5,600, $48,200, and $125,000 at the e

Inessa05 [86]

Answer:

This business idea worth $430,127 today

Explanation:

Today value of the future cash flows can be calculated by discounting the cash flows on the given discount rate. It is called the present value and sum of present value of all cash flows is called Net present value.

We use following format to calculate NPV for the given business idea

Years 1 2 3

Cash Flows $5,600 $48,200 $125,000

Sale Proceeds $450,000

Net Cash Flows $5,600 $48,200 $575,000

Discount Factor 14% 0.8772 0.7695 0.6750

Present values $4,912.32 $37,089.9 $388,125

Net present value of business idea = $4,912.32 + $37,089.9 + $388,125

NPV = 430,127.22

3 0

3 years ago

Employees and customers are treated like a family at State Street Coffee House. Jason and Jill, the owners, work to encourage un

qaws [65]

Answer: (D) Clan culture

Explanation:

The clan culture is one of the type of friendly type corporate environment in an organization and it is also known as collaborative culture. Clan culture is one of the element of corporate clan culture model.

There are many types of advantage of clan culture in an organization are as follows:

Clear communication
Increase in company productivity
Increase in organization growth

According to the question, Jason and the Jill are the owner of the company an they always encourage and also motivate their employees. They also try to increase the job satisfaction among the employees and they try to built the clan culture in the company.

Therefore, Option (D) is correct.

3 0

3 years ago

Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni

djyliett [7]

Answer:

Direct material used= $420

Explanation:

Giving the following information:

Sales revenue= $4,000

Purchases of direct materials= $400

Direct labor= $450

Manufacturing overhead= $620

Operating expenses= $650

Beginning raw materials inventory= $200

Ending raw materials inventory= $180

Beginning work in process inventory= $320

Ending work in process inventory= $410

Beginning finished goods inventory= $250

Ending finished goods inventory= $200

Direct material used= ?

Direct material used= beginning inventory raw material + purchase - ending inventory raw material

Direct material used= 200 + 400 - 180= $420

5 0

3 years ago