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3 years ago

Confucius Bookstore’s inventory is destroyed by a fire on September 5.

Business

1 answer:

Mice21 [21]3 years ago

6 0

Answer and Explanation:

Cost of goods sold formula:

Opening inventory + purchases - ending inventory

Cost of purchases:

Opening inventory + purchases = 190000 + 352000 = $542,000

Cost of goods sold

= 685,000 - (44% x 685,000) = 383,600

Net sales = 685,000

Less: COGS = 383600

Gross Profit = 301400

Inventory loss = 542000 - 383,600 = $158,400

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"As a result of the increase in government expenditures, the" A. money supply curve will shift right. B. money supply curve wil

blondinia [14]

Answer:

A. money supply curve will shift right.

Explanation: when the supply of money is increase by the central bank,the money supply curve will shift right. Leading to a lower interest rate,but,the money supply curve shifts left, when the supply of money falls,which leads to higher interest rate.

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3 years ago

Read 2 more answers

"Stephanie's Bridal Shoppe sells wedding dresses. The average selling price of each dress is $ 1 comma 100, variable costs are

zhannawk [14.2K]

Answer:

250 dresses

Explanation:

The first task would be to compute before tax net income when after tax net income is $21,000 at the tax rate of 30%

After tax net income=before tax net income*(1-t)

t is the tax rate of 30% or 0.30

after tax net income is $21,000

$21000=before tax net income*(1-0.3)

$21,000=0.7*before net income

before tax net income=$21,000/0.7=$30,000

Target units for before tax net income of $30,000 is computed thus:

target number of dresses=fixed cost+target profit/contribution per unit

fixed cost is $120,000

contribution per unit=sales price-variable cost

=$1,100-$500=$600

target number of dresses=($120,000+$30,000)/$600=250 dresses

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3 years ago

Currently Ark is charged $3,144,267 Depreciation on the Income Statement of Andrews. Andrews is planning for an increase in this

masya89 [10]

Answer:

C)Increase Net Cash from Operations on the Cash Flow Statement

Explanation:

If there is an increase in depreciation so this declines the net profit as the depreciation is an expense and shown in the debit side of the income statement. Ultimately it fall the earnings of the company. In the cash flow statement, this depreciation expense is added back to the net profit to determine the net cash flow from operating activities also it is a non cash expense

Therefore the option C is correct

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3 years ago

Common inherent limitations in internal control include ________.

lianna [129]

Answer:

A. ineffective understanding of the purpose of a control

Explanation:

Internal controls can be regarded as mechanisms or rules, as well as procedures put in place, by a company so that integrity of financial as well as accounting information, are ensured and to promote accountability as well as prevention of fraud. It should be noted that Common inherent limitations in internal control include ineffective understanding of the purpose of a control

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3 years ago

An engineering graduate plans to buy a home. She has been advised that her monthly house and property tax payment should not exc

dimaraw [331]

Answer:

$83,107.20

Explanation:

Amount available for monthly house payment = [$ 2000 * 35% ] - $ 150

= $700 - $150

= $550

Effective rate per month = 6.95% / 12 months = 0.00579 = 0.579%

No of periods = 30 years * 12 months = 360 months

Present Value = Amount available for monthly house payments * [P/A,0.579%,360]

[P/A,0.579%,360] =[(1 + i)^n - 1] / [( 1 + i)^n * I]= [(1 + 0.00579)^360 - 1] / [( 1 + 0.00579)^360 * 0.00579]

P/A,0.579%,360 = [7.99158 - 1] / [ 7.99158 * 0.00579]

P/A,0.579%,360 = 6.99158 / 0.04627

P/A,0.579%,360 = 151.104

Present Value = Amount available for monthly house payments * [P/A,0.579%,360]

Present Value = $550 * 151.104

Present Value = $83,107.20

Thus, the max amount she can par for the house is $83,107.20

6 0

3 years ago