What determines the amount of tax revenue generated from oil and natural gas produced in Texas?

American express and discover card are examples of open loop systems. a. True b. False

PtichkaEL [24]

A. True
Btw that's a picture of me.

6 0

3 years ago

The following information is from the annual financial statements of Nancy Company.

lakkis [162]

Answer:

5.79 times

Explanation:

The computation of the Accounts receivable turnover ratio

= Credit sales ÷ average accounts receivable

where,

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($46,400 + $49,700) ÷ 2

= $48,050

And, the net credit sale is $278,000

Now put these values to the above formula

So, the answer would be equal to

= $278,000 ÷ $48,050

= 5.79 times

5 0

3 years ago

(lavilla) lavilla is a village in the italian alps. given its enormous popularity among swiss, german, austrian, and italian ski

bonufazy [111]

The answer is "120 skiers per day".

On average, 1,200 skiers in the village

On average, skiers stay in lavilla for 10 days

how many new skiers are arriving = ?

Applying Little's Law,

Flow Rate = Inventory / Flow Time

= 1200 skiers / 10 days

= 120 skiers per day

4 0

2 years ago

If bread is produced by using a constant returns to scale production function, then if the: A) number of workers is doubled, twi

nekit [7.7K]

Answer: Option (C) is correct.

Explanation:

Constant returns to scale production function: When there is an increase in inputs (i.e capital and labor) as a result output increases by the same proportion.

For example: If the amounts of equipment and workers are both doubled in the production of bread then as a result the output of bread also doubled.

Suppose the capital and labor increases by 10% then as a result output also increases by 10%.

5 0

3 years ago

Assume that Beaver uses the periodic system, and the end of period ending inventory for January is 110 units. a. Prepare all nec

aleksandr82 [10.1K]

Answer:

Part 1 a

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Credit : Revenue $640

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Credit : Revenue $1,050

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Credit : Revenue $900

jan 31

Debit ; Cost of Sales (100 x $5 + 150 x $6 + 160 x $7) $2,520

Credit : Inventory $2,520

Part 1 b

Gross Profit = Sales - Cost of Sales

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = (100 x $5 + 150 x $6 + 160 x $7) = $2,520

Therefore,

Gross Profit = $2,590 - $2,520

= $70

Part 2 a

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Debit : Cost of Sales (80 x $5.00) $400

Credit : Revenue (80 x $8.00) $640

Credit : Inventory (80 x $5.00) $400

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Debit : Cost of Sales (20 x $5.00 + 100 x $6) $700

Credit : Revenue (120 x $8.75) $1,050

Credit : Inventory (20 x $5.00 + 100 x $6) $700

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Debit : Cost of Sales (50 x $6.00 + 50 x $7) $650

Credit : Revenue (100 x $9.00) $900

Credit : Inventory (50 x $6.00 + 50 x $7) $650

Part 2 b

Gross Profit = Sales - Cost of Sales

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = ($400 + $700 + $650) = $1,750

Therefore,

Gross Profit = $2,590 - $1,750

= $840

Explanation:

Hie, see the attached the full question as images below

Part 1

Note that the question in this part requires us to use the Periodic Inventory System. In Periodic Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the end of the Period, in this case at the end of the month of January.

Part 2

Again it is important to note that the question in this part requires us to use the Perpetual Inventory System. In Perpetual Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the after each and every transaction made.

Overall Comment

The Company use of FIFO should be considered in both the Periodic Inventory System in Part 1 and Perpetual Inventory System in Part 2. FIFO method assumes that the first goods received by the business will be the first ones to be delivered to the final customer.

That said, Cost of Sales for Part 1 are determined and recognized at the end of the period and Cost of Sales for Part 2 are determined and recognized after every sale transaction made

4 0

3 years ago