Microeconomics question, please help...70 pts!

Company made total purchases of $ 250 comma 000 in the most current year. It paid freight in of $ 4 comma 000 on its purchases.

Romashka [77]

Answer:

$ 227,500

Explanation:

given,

total purchase in current year = $ 250,000

Paid freight = $ 4,000

cost to deliver = $7,200

returned made = $ 24,000

Trift took advantage = $ 2,500

inventory = ?

inventory cost = purchases + freight inward - return stock - discount

= $ 250,000 + $ 4,000 - $ 24,000 - $ 2,500

= $ 227,500

the Trift's cost of inventory is equal to $ 227,500

6 0

3 years ago

Cash balance, September 1 (from a summer job) $7,560

neonofarm [45]

Answer:

Katherine Malloy

Personal Cash Budget for September, October, November, and December:

September October November December

Balance $7,560 $2,960 $3,060 $3,160

Apartment deposit return 500

Earnings (net of taxes) 940 940 940 940

Borrowing 340

Total Cash Receipts $8,500 $3,900 $4,000 $4,940

Season football tickets 100

Additional entertainment 260 260 260 260

Semester Tuition 4,100 4,100

Rent 370 370 370 370

Food 210 210 210 210

Apartment deposit 500

Total cash payment $5,540 $840 $840 $4,940

Balance $2,960 $3,060 $3,160 $0

Explanation:

Katherine Malloy's cash budgets for the months of September, October, November, and December give some snapshots of her cash receipts and payments, including the planned borrowing of no less than $340 that she must arrange in December in order to pay for her spring semester tuition on December 31. From the budget, she gets a clearer picture of her cash needs, receipts and expenses. She is comfortable from September till the end of the year. But, Katherine must arrange for some cash receipts, either in student loan or support or get another part-time work to increase her income, to enable settle her tuition in December.

4 0

3 years ago

Suppose the government applies a specific tax to a good where the demand elasticity, E, is -1.4, and the supply elasticity, n, i

VMariaS [17]

Answer:

The correct answer is option D.

Explanation:

The demand elasticity is -1.4.

The supply elasticity is 1.2.

Since the demand is elastic, the imposition of tax will not be profitable for the government.

The imposition of tax will increase the price of the good, this will decrease the demand for good, thus the revenue will decrease.

The tax incidence on consumers

= E (supply) / (E (demand)) + E (supply)

= $\frac{1.2}{1.2 - 1.4}$

= $\frac{1.2}{-0.2}$

= -6

4 0

3 years ago

Boone Company purchased a piece of machinery by paying $18,000 cash. In addition to the purchase price, the company incurred $80

Mkey [24]

Answer:

The correct answer is $18920.

Explanation:

Boone Company purchased a piece of machinery by paying $18,000 cash.

In addition to the purchase price, the company incurred $800 freight charges.

Estimated useful life of the machine is 5 years and will require $600 for insurance over that period.

So insurance money for a year = $ ( $\frac{600}{5}$ ) = $120.

Boone Company would record the cost of the machine at $ ( 18000+ 800+ 120) = $ 18920.

4 0

3 years ago

Sarah and Luke each purchased $125 of merchandise from Owens Grocers on account. The terms of both sales were 1/7, n/30. Account

Tatiana [17]

Answer:

Sarah inventory $ 123.75

Luke inventory $ 125.00

Explanation:

Sarah

125 dollars x 1% discount = 1.25 dollars

Inventory:

125 nominal - 1.25 discount = 123.75

Sarah will enter the inventory for the price it paid to acquire it which is 123.75

Luke

As look paid after the discount period the inventory will be valued at nominal:

125 dollars nominal

the charge is considered interest expense it will not be capitalize through inventory.

7 0

3 years ago