Answer:
Q. Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?
February 2018 $90,000, March 2018 92,000, April 2018 101,000, May 2018 98,000, June 2018 99,500.
Answer) $440,775
Explanation:
Cash payments to be made in 2018 for the purchases given in question are:
Feb 2018 Mar 2018 Apr 2018 May 2018 June 2018
Cash Payments
65% of $90,000 58,500
30% of $90,000 27,000
5% of $90,000 4,500
65% of $92,000 59,800
30% of $92,000 27,600
5% of $92,000 4,600
65% of $101,000 65,650
30% of $101,000 30,300
5% of $101,000 5,050
65% of $98,000 63,700
30% of $98,000 29,400
65% of $99,500 64,675
Total $58,500 $86,800 $97,750 $98,600 $99,125
Total payments in 2018=$440,775
(58,500+86,800+97,750+98,600+99,125)
Answer:
C is the correct answer.
Explanation:
The result of the Bretton Woods System was launched after the end of the world war. It was a liberal system as it aimed to set an open system of international trade in goods and services. It was also facilitated by semi-fixed exchange rates. But at the same time, it wanted to embed the market forces in a framework where they could be controlled by National Governments so that they can control the international capital flow. And for this purpose, The world Bank and International Monetary fund were created.
Answer:
$22.2 billion
Explanation:
Calculation to determine How much would they report as LIFO cost of goods sold
Cost of goods sold=$22 billion + ($0.8 billion $0.6 billion)
Cost of goods sold=$22 billion + $0.2 billion
Cost of goods sold= $22.2 billion
Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
A) How much would you have to deposit today if you wanted to have $54,000 in five years? The annual interest rate is 8%.
We need to use the following formula:
PV= FV/(1+i)^n
PV= 54,000/(1.08^5)= $36,751.49
B) Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 7% on your investments, how much would you have to deposit today to have $14,500 when you graduate?
PV= 14,500/1.07^2= $12,664.86
C) Calculate the future value of an investment of $643 for eleven years earning an interest of 8%.
FV= PV*(1+i)^n
FV= 643*1.08^11= $1,499.24
D) Would you rather have $643 now or $1,000 eleven years from now?
It depends on the interest rate. We will assume 8%.
PV= 1000/1.08^11= 428.88
It is better to have $643 today.
The information that the statement columns in the end-of-period spreadsheet mean to the accountant is the accounts have not been updated and a net income of $41,388. The correct option is b and c.
<h3>Who is an accountant?</h3>
An accountant is a person who manages and calculates the accounts or finance of a company, a firm, or a person. He calculates the capital of the person, manage taxes and give advice about the finance of the person.
Given that, debits are $26,754 and credits are $68,142. If we subtract the debit from the credit. We see a net income of $41,388.
Thus, the correct option is b. the accounts have not been updated. c, net income of $41,388.
To learn more about accountants, refer to the link:
brainly.com/question/13341312
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