Answer:
The property manager's annual salary is $42,000
Explanation:
In the question, it is mentioned that the property manager salary equals to the 6% if the property annual gross income, and the property annual gross income is $700,000
So, the property manager salary equals to
= Property annual gross income × 6%
= $700,000 × 6%
= $42,000
The annual expenses and capitalization rate is irrelevant. Thus, it is ignored in the computation part.
Hence, the property manager's annual salary is $42,000
Answer:
Shellhammer Company
Ending inventory = $712
Cost of goods sold = $2,492
Explanation:
a) Data and Calculations:
Date Item Units Unit Cost Total Cost
September 1 Inventory 100 $3.34 $334.00
September 8 Purchases 450 3.50 1,575.00
September 18 Purchases 350 3.70 1,295.00
September 30 Total 900 $3,204.00
Ending inventory 200
Cost of goods sold 700
Weighted Average cost = Total cost of goods available for sale/Total units available for sale
= $3,204/900 = $3.56
Value of Ending Inventory = $3.56 * 200 = $712
Value of Cost of goods sold = $3.56 * 700 = $2,492
b) The weighted average inventory costing, under the period inventory system, used by Shellhammer is an assumption that the costs attributable to ending inventory and cost of goods sold are determined from the average cost per unit and that these the average cost is ascertained at the end of the period. Therefore, the cost of beginning inventory and purchases are accumulated and divided by the units of goods available for sale.
Can you imagine yourself doing this for the rest of your life? Is this what I’m truly passionate about? Will I be able to life off this income?
Answer:
c. Sinking fund
Explanation:
The Sinking fund is the fund that is used to explain the account in the case of the trustee managers of a bond for a purpose of redeeming them early. It could be performed in a periodically that aside the money for debt payment or for the asset replacement
Therefore as per the given situation, the option c is correct
And, the same is to be considered
