Answer:
The Pacific have to charge the customer to achieve that operating income is $17892.
Explanation:
The target Price Pacific should charge to $17892 as it covers the target operating income as well as it covers the total cost of project. The total cost of project is at the level of $16265 x (100 + 10) / 100 = $17892. The difference of $1627 indicates the operating profit of company. Therefore, Pacific should charge 10% the cost of Job for Client 76.
Answer:
The transactions will be recorded as follows;
Explanation:
August 6.
Inventory(78*240)*99% Dr.$18,533
Accounts Payable-Game Girl Cr.$18,533
August 7.
Inventory Dr.$440
Bank Cr.$440
Aug 10.
Accounts Payable-Game Girl (8*240)*99% Dr.$1,904
Inventory Cr.$1,904
August 14.
Accounts Payable($18,533-$1,904) Dr.$16,632
Bank Cr.$16,632
August 23.
Account Receivable (58*260) Dr.$15,080
Sales Revenue Cr.$15,080
Cost of Goods Sold Dr.$14,145
Inventory Cr.$14,145
Please note that cash discount's net method is used for sake of recording
Answer:
$376 billion
Explanation:
The formula and the computation of personal income is shown below:
= Personal Consumption Expenditures + Personal Taxes + Interest
= $314 billion + $46 billion + $16 billion
= $376 billion
The personal incomes show a combination of the personal consumption expenditure, personal taxes, and interest. So accordingly we added the three above components
Answer:
Assets: 180,000
Explanation:
Accounting Equation Formula:
Assets = Liabilities + Owner's Equity
The accounting equation shows which resources the company has for the development of its activities and how they are financed. Assets are those mentioned resources, such as cash, bank accounts, inventory, etc. Those assets can be financed by external or internal sources. Liabilities represent external sources, which means, obligations. Instead, Owner's Equity represents internal sources, which means issuing equity shares. As every resource have to be finance either external or internally, the value of the Asset should match the add of Liabilities and Owner`s Equity.
Answer and Explanation:
A. Stakeholders in the situation are:
1. Ellyn
2. The company
3. People using the financial statements
B. Ethical issues include:
1. Ellyn being dishonest by adding $1000 to the equipment asset and mistating the numerical value. This could cause loss as the $1000 could be from a liability account
C. Alternatives:
1. Creating a suspense account for the difference of $1000
2. Postponing finalisation and escalating the issue to a senior accountant to find out where the difference is from