Answer: $1,982.40
Explanation:
The company's after-tax income using LIFO will be:
Sales = 306 × $63 = $19,278
Less: Cost of Goods Sold
132 × $49 = $6,468
174 × $47 = $8,178
Coat if goods sold = $14,646
Gross Profit = $19,278 - $14,646 = $4,632
Less: Operating Expense = $1,800
Income Before Tax = $2,832
Less: Tax = 30% × $2832 = $849.60
Income after Tax = $1,982.40
The amount of money that I would have in the bank account at the end of one year is $1,100.
The real interest rate I would expect to earn on the deposit is 6%.
If I am saving for a gaming computer, at the end of next year I would have enough money.
<h3>What is the value of the money by next year?</h3>
The formula that can be used to determine the money in my bank account next year is:
FV = P (1 + r)^n
Where:
FV = Future value
P = Present value
R = interest rate
N = number of years
1000 x (1.1)^1 = $1,100
<h3>What is the real interest rate?</h3>
The real interest rate is the nominal interest rate less inflation rate.
The real interest rate = 10% - 4% = 6%
To learn more about future value, please check: brainly.com/question/18760477
Answer:
The correct answer is letter "A": factories often need fewer workers.
Explanation:
Automation is the introduction of machinery in manufacturing companies with the intention of mass-producing standardized goods in an attempt to reduce costs by using large lines of equipment instead of more human labor hand. While this represents an advantage for companies, it is a drawback for employees who see their job duties being handled to machines.
Automation is used in different industries such as <em>utilities, defense, </em>and <em>information technology.</em>
Answer:
The journal entry should be:
Dr Investment in Leghorn Corporation XX
Cr Accounts receivable XX
Explanation:
Foghorn Company must record the noncash payment as an asset which should be equal to the amount of money that it generally would have collected from the services provided. Since the payment is done through stocks, it must record that collection as an investing account.
Since transferring stocks usually takes a couple of days at least, the original journal entry should have recorded a debit to accounts receivable and a credit to service revenue.
