Answer:
purchases = 160000
Explanation:
given data
beginning inventory = $140,000
amount of inventory on hand = $80,000
net sales = $400,000
gross profit rate = 40%
solution
we first Computation of cost of goods sold hat is
Gross profit rate =
× 100
=
= =
= 100 Gross profit = 16000000
so
Gross profit = 160000
and
Cost of goods sold is = sales - gross profit
so
Cost of goods sold = 400000 - 160000
Cost of goods sold = 240000
and
Cost of goods sold = opening inventory + purchases - closing inventory
so put here value
240000 = 140000 + purchases - 60000
so purchases = 160000
Answer:
Decrease (debit) in equity, Cash Dividends Payable (credit, liability account)
Explanation:
The journal entry to record the declaration of the cash dividends involves a decrease (debit) to Retained Earnings (a stockholders' equity account) and an increase (credit) to Cash Dividends Payable (a liability account).
(opentextbc.ca)
Answer: False
Explanation:
When the government subsidies production of a good, it leads to a rise in the supply of the good. The supply curve shifts down to the right leading to a <em>fall in the price level</em>. But the <em>equilibrium quantity increases</em>.
Thus, the given statement is false that if the government decides to subsidize the production of a good, the result would be a decrease in the equilibrium price and a decrease in the equilibrium quantity.
Microcredit help poor people establish thriving small
businesses because it provides a small finacial loan made to proverty stricken
individuals who want to start their own business. Hence the objective of this
microcredit is for the poor people for self-employment. The following are the
reasons why microcredit targeted primarily to women because women make better
use of small loans than men. That most women do not spend their money on snacks
or luxuries than men but instead use their money into providing food for their
children/family. Women have a better track record when it comes to repayment,
women are a huge untapped labor pool, women have the right to access capital
and lastly women who receive loans adopt healthier lifestyles and are
empowered.