Answer:
Particulars 2021 2022 2023
Beginning Inventory <u>277</u> <u>253</u> 235
Cost of Goods sold 633 623 <u> </u><u>586</u>
Ending inventory <u> </u><u>253 </u> 235 220
Cost of good available for sale 886 <u>876</u><u> </u> 806
Purchases 640 <u>623 </u> 595
Purchase discounts 20 17 <u>26</u>
Purchase returns 26 32 16
Freight-in 15 34 18
Explanation:
There are few missing values which are calculated using back solving technique. These values are bold and underlined. Playa Company has missing information for its three year accounts.
Available for sale = Beginning inventory + Net Purchases
Cost of Goods Sold = Cost of good available for Sales - Ending inventory
Ending inventory = Cost of Goods available for Sales - Cost of Goods Sold.
Net purchases = Gross purchases + Freight in - Purchase discount - Purchase return
Answer:
Bond Price = $945.2631228 rounded off to $945.26
Explanation:
To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is an annual bond, the coupon payment, number of periods and annual YTM will be,
Coupon Payment (C) = 1000 * 0.0675 = $67.5
Total periods (n) = 30
r or YTM = 0.072 or 7.2%
The formula to calculate the price of the bonds today is attached.
Bond Price = 67.5 * [( 1 - (1+0.072)^-30) / 0.072] + 1000 / (1+0.072)^30
Bond Price = $945.2631228 rounded off to $945.26
Technology will replace the workers and the new equilibrium will be at N2'.
Answer: Option 3.
<u>Explanation:</u>
Equilibrium in a perfectly competitive labor market happens when the supply of labor is equal to the demand of labor. As market compensation decline beneath the harmony rate, the interest for work is more noteworthy than the stock, making a deficiency of laborers.
The labor market is in balance when supply approaches request; E* laborers are utilized at a compensation of w*. In harmony, all people who are searching for work at the going compensation can get a new line of work. The triangle P gives the maker excess; the triangle Q gives the specialist overflow.
Answer:
c. Debit Cash $745; credit Note Receivable $745.
Explanation:
It is very difficult to understand your question since it is typed in a very complex manner. I have attached a screen shot that contains the similar question, it helped me and will help others to understand the data given.
a. This entry has already been recorded in the company's accounts. It should be reconciled with the Bank Account.
b. A miscellaneous expense has been incurred but it was paid and not on credit.
c. Correct Entry. As you can see that a Note Receivable has been collected by bank from customer. So, we have to increase the Cash balance by debiting it and remove the receivables by crediting it.
d. Sales transaction is never a part of Bank Reconciliation.
e. $745 has been collected from customer and not paid to vendor. The amount paid is $1,730 which is already recorded in the Books.
Answer:
d. Debit Credit
Bad Debt Expense $17,000
Allowance For Doubtful Accounts $17,000
Explanation:
Estimates of uncollectible ( $390,000× 5%) = $19,500
Less: Allowance For Doubtful Accounts Credit= <u>($2500)</u>
Bad Debt Expense= <u>$17,000</u>