Answer: $678,220
Explanation:
Given that,
Purchase Discounts = $ 11,000
Freight-in = $15,300
Purchases = $689,020
Beginning Inventory = $55,000
Ending Inventory = $45,600
Purchase Returns and Allowances = $15,100
Cost of goods purchased:
= Purchases + Freight in - Purchase discounts - Purchase returns and allowances
= $689,020 + $15,300 - $ 11,000 - $15,100
= $678,220
Answer:
a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE
b) Decrease equity (Salaries): Decrease asset (Cash)
c) Increase asset (Cash): Increase equity (Capital)
d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)
e) Decrease equity (Utility): Increased liabilities (Others payable accounts)
f) Decrease equity (Capital): Decrease assets (Cash)
Explanation:
Accounting Equation Formula
:
Assets = Liabilities + Equity
According to the formula transactions must be recorded as follows:
<em>DEBIT:</em> Asset increases, Liabilities decreases, and Equity decrease.
<em>CREDIT:</em> Asset decreases, Liabilities increases, and Equity increase.
Answer:
True
Explanation:
International trade is trade across national boundaries and it includes the import and export of goods and services. An economic prosperity is synonymous with rising incomes and it would increase the propensity to import; that is, people in the domestic economy now have more incomes to spend on imports. Alternatively, a recession would lead to a fall in incomes and imports, and also a fall in investment which conseqeuntly reduces exports volumes.
Trade restrictions (protectionism) such as tariffs, quotas, competitive devaluation, administrative complexities, export subsidy hinder free trade and they could reduce the volume of imports into a country. This is because trade restrictions would make imports to be more expensive; the aim might be that the government is trying to correct a current account deficit. However, the effectiveness of trade restrictions in reducing import volumes and influening export is dependent on the price elasiticty of demand for imports and exports, the quality of a country's good or service, and how the country's rate of inflation compares with that of other countries.
Answer:
Total FV= $7,313.7
Explanation:
Giving the following information:
Year Cash Flow 1 $ 1,040 2 1,270 3 1,490 4 2,230
Discount rate= 9% = 0.09
<u>To calculate the future value, we need to use the following formula on each cash flow</u>:
FV= Cf*(1+i)^n
FV1= 1,040*(1.09^4)= 1,468.04
FV2= 1,270*(1.09^3)= 1.644.69
FV3= 1,490*(1.09^2)= 1,770.27
FV4= 2,230*1.09= 2,430.7
Total FV= $7,313.7
This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product
