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spin [16.1K]
3 years ago
8

Cost of Merchandise Sold

Business
1 answer:
galben [10]3 years ago
4 0

Answer:

$441,000

Explanation:

The computation of the cost of merchandise sold is shown below:

Cost of merchandise sold = Opening inventory + net purchase - ending inventory

where,

Opening inventory  = $14,500

Net purchase is

= $475,000 - $15,000 - $9,000 + $7,000

= $458,000

And, the ending inventory is $31,500

So, the cost of merchandise sold is

= $14,500 + $458,000 - $31,500

= $441,000

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Pierce Company incurred $150,000 of research and development costs in its laboratory to develop a new product. It spent $20,000
mr Goodwill [35]

Answer:

A. $35,000

Explanation:

The first $150,000 were invested in research and development of the product itself, not the patent. Thus, this amount should be debited to research and development expenses.

The only expenses directly related to the patent itself are the $20,000 spent on legal fees on January 2, 2017, and the $15,000 for legal fees in a successful defense of the patent on July 31, 2017.

Therefore, the total amount that should be debited to Patents (P) is:

P = $20,000 + $15,000 = $35,000

8 0
4 years ago
Suggest monetary solutions for the present financial crisis and discuss if those solutions are always applicable.
Brums [2.3K]

Answer:

See the explanation below.

Explanation:

Some solutions

Try to increase the additional resources in order to help the global economy, with the goal of pay the balance of payment and is important and provide support for countries in crisis  around the world. The international monetary found (IMF) help on this.

Increase the growth and jobs and that can be satisifed with fiscal expansion. And all the people involved on the develop of strategies around this topic needs to help. The responsible of this is each country and the IMF

More help to the people with no resources, satisfying the basic rights for sales and the finance operations. One organism who help on this is  World Bank Vulnerability Fund. and the ONU.

Stability and strategies to identify risks using some techniques for the regulation of credit agencies and banks, bonuses and othr financial products. The world bank can help on this topic.

Reduce taxes creating actions to reduce it. For this topic the  Economic Co-operation and Development Organization can show the information about it.

Create strategies to reduce the climate change: for example by low carbon investment and bonuses, working with the IPCC and the WRCP.

4 0
4 years ago
What are some of the ethical concerns that come to mind for companies seeking to sell to the bottom of the pyramid?
lions [1.4K]

Explanation:

There are certain ethical concerns for some companies seeking to sell products to the bottom of the pyramid. This is associated with problems like appropriate Products where the concerns are related to the creating of the products which are created in the same way. Companies like Nestle and Nike had faced issues and also ethical scrutiny for their charges of such exploitation in the developing countries.

There are other ethical concerns which are related to advertising and  misrepresentation of their products and their services.

These companies understands the characteristics of the advertising and potential dangers that are related to their product.

5 0
3 years ago
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timama [110]
What exactly do you need to talk about… but hey i’m here lol
4 0
3 years ago
Read 2 more answers
company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage
mylen [45]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 10-year useful life.

Under the straight-line method of depreciation, we need to use the following formula to calculate the annual depreciation:

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Annual depreciation= (80,000 - 5,000)/10= 7,500

Now, we need to calculate the depreciation for 7 months:

Depreciation expense 2013= (7,500/12)*7= $4,375

8 0
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