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GuDViN [60]
3 years ago
12

Under a perpetual inventory system, when a shortage is discovered a.Merchandise Inventory is debitedb.Cost of Merchandise Sold i

s creditedc.Inventory Shortages is creditedd.Merchandise Inventory is credited
Business
1 answer:
eduard3 years ago
5 0

Answer: d. Merchandise Inventory is credited

Explanation: merchandise Inventory is a current asset showing the cost of goods on hand and available for sale at any given moment in time and is continuously updated to reflect items on hand under the perpetual inventory system. Under the perpetual inventory system, the Merchandise Inventory account is debited and credited for each purchase and sale respectively. This effectively shows the current balance in the account at all time. However, during shortages, the Merchandise Inventory is credited.

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Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw materials
Zepler [3.9K]

Answer:

$171,619.20

Explanation:

Calculation to determine what The budgeted accounts payable balance at the end of November is closest to:

Using this formula

Budgeted accounts payable balance= Budgeted cost of raw materials purchases in November -(Budgeted cost of raw materials purchases in November*Raw materials purchases in the month of purchase percentage)

Let plug in the formula

Budgeted accounts payable balance=$286,032 - ($286,032*40%)

Budgeted accounts payable balance=$286,032 - $114,412.80

Budgeted accounts payable balance= $171,619.20

Therefore The budgeted accounts payable balance at the end of November is closest to:$171,619.20

4 0
2 years ago
In the context of performance appraisal dimensions and standards, the goal of meeting product specification standards is an exam
Vadim26 [7]

Answer:

Output measure:

Explanation:

Output measure:

it is structured report on business output that describe about the goal achievement, illustrating the point that is beneficial for the project etc.

it consist of all details about any task, like quantity of material produce, how much of it delivered to the next level. it doesn't mentioned the internal factor like quality of work that would impact the stakeholder.

4 0
3 years ago
Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value.
Marianna [84]

Answer:

$508.63

Explanation:

For this question, we use the Present value formula that is reflected in the attached spreadsheet. Kindly find it below:

Provided that

Given that,  

Future value = $1,000

Rate of interest = 14%

NPER = 15 years

PMT = $1,000 × 6% = $60

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the present value is $508.63

3 0
2 years ago
Fortune Enterprises is an all-equity firm that is considering issuing $13.5 million of perpetual debt. The interest rate is 10%.
Nuetrik [128]

Answer:

d. Debt holders get $0 mil. under the unlevered plan vs. 0.6075 mil. under the levered plan

Explanation:

interests paid to debt holders = $13,500,000 x 10% = $1,350,000

generally, interest revenue is taxed as ordinary revenue = corporate income tax rate (if debt holder is a business) or personal income tax (if debt holder is an individual).

under the first plan, debt holders get nothing because there is no outstanding debt since the company is an all equity firm.

under the second plan, if the personal tax rate on interest income is 55%, which is really high, the debt holders will earn $1,350,000 x (1 - 55%) = $607,500

8 0
3 years ago
Santiago Systems Income Statement For the Year Ended December 31, 20X2 Amount Percent Net sales $5,345,000 100.0% Less: Cost of
solmaris [256]

Answer:

1)Dividend per share = 1

2)Dividend yield = 5%

3)Dividend payout ratio = 0.39

Explanation:

As per the data given in the question,

Net sale = $5,345,000

Cost of goods sold = $3,474,250

Gross margin = $5,345,000 - $3,474,250 = $1,870,750

Operating expenses = $1,140,300

Operating income = $1,870,750 - $1,140,300 = $730,450

Interest expenses = $27,000

Income before taxes = $730,450 - $27,000 = $703,450

Income tax(40%) = $281,380

Net in come = $422,070

Preference of dividend = $40,000

Earnings available to common stockholders = $422,070 - $40,000 =$382,070

Common stock = $150,000

Earning per share = $382,070÷$150,000 = 2.55

Dividend to common stockholders = $150,000

Dividend per share = $150,000÷$150,000 = 1

Market price of common share = $20

Dividend yield = (Dividend per share×100÷market price of common share) = 5%

Dividend payout ratio = Dividend per share÷earning per share =1÷2.55 = 0.39

3 0
2 years ago
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