The correct answer for this question is a. True. Hope this helps you fulfill your desires.
Answer:
a) $22,010
b) $3,780
c) $25,790
Explanation:
a) In calculating the value of inventory still left, the total value needs to be calculated first,
= (80 freezers * $540) + $820 ( transport fees)
= 43,200 + 820
= $44,020
40 out of 80 freezers have not been sold so,
= 40/80 * 44,020
= $22,010
b) In calculating the profit, subtract the expenses from the sales
Sales = 40 * 700
= $28,000
= 28,000 - Cost of refrigerators - commission of 6% of sales - advertising - installation
= 28,000 - 22,010 - (28,000*0.06) - 180 - 350
= $3,780
c) The amount remitted by the consignor will be,
= Sales - commission - advertising - installation
= 28,000 - (28,000 * 0.06) - 180 - 350
= $25,790
Answer:
The purpose of the income statement is to show the reader how much profit or loss an organization generated during a reporting period. This information is more valuable when income statements from several consecutive periods are grouped together, so that trends in the different revenue and expense line items can be viewed.
Explanation:
Answer:
net wortht -143,280.85
equivalent annual cost $ 24,932.98
Explanation:
We sovle for the present value of each annuity:
<em><u>The first three years:</u></em>
C 31,000.00
time 3
rate 0.08
PV $79,890.0066
<em><u>Then the second phase annuity:</u></em>
C 20,000.00
time 5
rate 0.08
PV $79,854.2007
NOw, we discount this as it is three years into the future
Maturity $79,854.2007
time 3.00
rate 0.08000
PV 63,390.8391
Total net worth:
79,890.0066 - 63,390.8391 = -143,280.85
The EAC will be the annuity which makes the Present work
PV 143,280.85
rate 0.08
time 8
C $ 24,932.983
