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3 years ago

Here are incomplete financial statements for BLOSSOM, Inc. Calculate the missing amounts

Business

1 answer:

Otrada [13]3 years ago

5 0

Answer:

(A) net income: 20,000

(B) COGS = 55,000

Explanation:

(A) with the RE statemtn we sovle for RE

net income = ending RE - beginning RE + dividends

net income = 27,000 - 12,000 + 5,000 = 20,000

(B) With the net income we solve for COGS

COGS= revenues - net income - salaries and wages

COGS = 85,000 - 20,000 - 10,000 = 55,000

liab + equity = total liab and stockholders equity

account payable + common stock + RE = total liab and stockholders equity

5,000 + CS + 27,000 = 62,000

CS = 62,000 - 27,000 - 5,000 = 30,000

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2 years ago

Currently, Bruner Inc.'s bonds sell for $1,250. They pay a $120 annual coupon, have a 15-year maturity, and a $1,000 par value,

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Answer:

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This is solve for excel and goal seek tool

It could also be solve with a financial calculator

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time 5 yeaars

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$120 \times \frac{1-(1+0.0680701028057608)^{-5} }{0.0680701028057608} = PV\\$

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$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity: $ 1,050 (call price)

time 5.00

rate 0.068070103

$\frac{1050}{(1 + 0.0680701028057608)^{5} } = PV$

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YTM:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

Cuopon payment: $ 120

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$120 \times \frac{1-(1+0.0891421622982136)^{-15} }{0.0891421622982136} = PV\\$

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$\frac{Maturity}{(1 + rate)^{time} } = PV$

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$\frac{1000}{(1 + 0.0891421622982136)^{15} } = PV$

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3 years ago

Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year, $425,000 in merchandise was p

Artyom0805 [142]

Answer:

$ 142,800.00

Explanation:

The ending inventory can be computed by rearranging the cost of goods sold formula:

cost of goods sold=Beginning inventory+net purchases-ending inventory

ending inventory=beginning inventory+net purchases-cost of goods sold

beginning inventory is $92,000

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net purchases=$425,000-($425,000*1%)+$7000-($5000*99%)=$422,800.00

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3 years ago

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deff fn [24]

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1 year ago