Answer:
<u>Income statement for Rushmore Biking Inc. for the month ending February 28.</u>
Sales $910,000
Less Cost of Sales ($550,000)
Gross Profit $360,000
Less Expenses
Selling Expenses ($185,000)
Administrative Expenses ($90,000)
Net Income / (loss) $85,000
Explanation:
Perpetual inventory methods<em> keeps the record of inventory cost after every sale.</em>
Thus we were already given the costs associated with the sale of bikes (cost of sales) and there was thus no need to got the longer router of determining this amount using the manufacturing cost schedule.
Which buying method can save money but means you must have trust in the reliability of your supplier?
Just in time
Unemployed people usually buy fewer things.
Unemployed people may not be able to repay their loans.
Unemployed people may have to change their financial goals.
The options are:
maintaining a balance between text and visuals
identifying the visuals with titles, captions, and legends
referring to visuals in the text
putting the visuals into a separate section, such as an appendix
Answer:
putting the visuals into a separate section, such as an appendix
Explanation:
In business documents making use of visuals is a great way to pass accross information.
When the visuals are integrated with text that further explains the concept being communicated it is easier to understand by the reader.
All the options given make use of various methods of integrated visuals and text except the following:
Putting the visuals into a separate section, such as an appendix.
When visuals are put in a seperate section away from other text it does not immediately give the reader an impression not what is being communicated. It does not effectively integrate text and visuals.
Answer: 8.99%
Explanation:
The coupon rate on the new bonds if the firm wants to sell them at par will be calculated thus:
Par value = 1000
Selling value = 959
Maturity = 16 × 2 = 32
Coupon = 8.5% = 8.5% × 1000 = $85
Semiannual PMT = $85/2 = $42.5
The coupon rate on the new bonds will be:
= Rate(32, 42.5, -959, 1000) × 2
= 8.99
Coupon rate = 8.99%
