Answer:
$62,800
Explanation:
Following Garfield Corp's policy, the number of pet beds that must be purchased, assuming no initial inventory, is given by the expected number of sales in March (1,300 units) added to 30% of the expected sales in April (30% of 900 units):
Since the company purchases each pet bed for $40, total budgeted purchases are:
Garfield Corp's total budgeted purchases for March are $62,800.
Answer:
A. A $16,000 cash inflow in the investing activities section of the cash flow statement.
Explanation:
The gain on sale of asset is,
Gain on disposal = Selling price - Net Book value of asset
Gain on disposal = 16000 - (44000 - 32000) = $4000
However, this gain is a non cash item as it is only reported on the books and there is no cash inflow or outflow that relates to this gain. Thus, option C and D become invalid as there is no cash related to this disposal gain as it is merely a book item.
A sale of asset doesnot increase but rather decrease total assets so option B become invalid. The correct answer is A as the asset is being sold for 16000 thus a cash inflow of 16000 is taking place.
The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
<h3>Journal entry</h3>
Based on the information given the correct entry to record this transaction is:
Debit Cash $1313
{$1300+[($1300×4%)-($1300×3%)]}
[$1300+($52-$39)]
Debit Sales Discount $39
($1300×3%)
Credit Accounts Receivable $1352
[$1300 + ($1300×4%)]
Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.
Learn more about journal entry here:brainly.com/question/9701045
Answer: $650,000
Explanation:
Given that,
Fair and par value of issued bonds = $150,000
Prior acquisition, McGuire reported
Total assets = $500,000
Liabilities = $280,000
Stockholders’ equity = $220,000
At that date, Able reported
Total assets = $400,000
Liabilities = $250,000
Stockholders’ equity = $150,000
Account payable to McGuire = $20,000
Total assets reported by McGuire after acquisition:
= Total assets + Fair value of investment
= $500,000 + $150,000
= $650,000
Answer:
A) price stability and maximum employment.
Explanation:
When Congress enacted the Federal Reserve Act in 1913, they stated the FED's mandates:
- promote maximum employment
- promote stable price
The FED's main objective is to conduct monetary policy in order to stabilize the economy and promote economic growth.
By stabilizing the economy the FED will lower inflation rate, therefore stabilizing prices. When the FED promotes economic growth, the unemployment rate should decrease, hopefully reaching a full employment.
