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saw5 [17]
3 years ago
8

The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price o

f the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600. The relative price of the used car
Business
1 answer:
allsm [11]3 years ago
5 0

Answer:

0.4

Explanation:

Relative Price of Used Car

=  Change in Price of Used Car /Change in Price of New Car

$(17600-16000)/(44000-40000)

$1600/4000

= 0.4

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Cheyenne Corp. uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units
4vir4ik [10]

Answer:

The COGS for the June 1st sale is $17 per unit, and the COGS for the August 27th sale is $20 per unit.

Explanation:

<u>Date</u>       <u>Number of units</u>     <u>Unit balance</u>      <u>Unit cost</u>      <u>Average cost</u>

May 7                40                      40                      $17                $17

June 1               (20)                     20                                           $17

July 28              30                      50                     $22               $20

August 27        (30)                     20                                           $20

The average COGS after the purchase on July 28 = [(20 x $17) + (30 x $22)] / 50 = ($340 + $660) / 50 = $20

           

6 0
3 years ago
Quarter Inc. is an Italian company that set up its ventures in the United States. It sells watches—designed and manufactured in
spin [16.1K]

Answer: D

Explanation: Quarter Inc. cannot be legally charged because as a foreign entity, it is exempt from prosecution based on sovereign immunity. Once the defendant establishes that it is a foreign state, for the lawsuit to proceed, the plaintiff must prove that one of the Act's exceptions to immunity apply.

4 0
3 years ago
Javier Computer Services began operations in July 2019. At the end of the month, the company prepares monthly financial statemen
gavmur [86]

Answer:

wages expense   1,300 debit

        wages payable     1,300 credit

--------------------------------

interest expense      200 debit

             interest payable     200 credit

--------------------------------

account receivable      2,400 debit

          service revenue       2,400 credit

----------------------------------

Explanation:

we recognize the wages expense for the current period and the liability that arise from that.

interest: principal x rate x time

time and rate should be in the same metric so we express the time in portion of a year.

From July 1st to July 31th a month has past so 1/12 of a year:

20,000 x 12% x 1/12  = 200

this will be the accrued interest for the period

we must record service revenue. As it is not collected it goes int oaccount receivable

6 0
3 years ago
the bookkeeper for Blue Spruce Equipment Repair made a number of errors in journalizing and posting, as described below. For eac
Sergeu [11.5K]

Answer:

Note: The full question is attached as picture below

                               (a)                   (b)                   (c)  

                                In                                      Larger  

                            Balance      Difference       column

1.                               No               $725             Debit  

2.                             Yes                 NA                NA  

3.                              Yes                 NA                NA  

4.                               No               $225            Credit  

5.                              Yes               $684               NA  

6.                               No                $45             Credit

7 0
3 years ago
The following T-account is a summary of the cash account of Kingbird Company. Cash (Summary Form) Balance, Jan. 1 7,200 Receipts
lisov135 [29]

Answer:

$264,600

Explanation:

The computation of net cash provided (used) by financing activities is shown below:-

Net cash inflow (Cash provided) by financing activities =  Proceeds from bond issue - Dividend Paid

= $301,700 - $37,100

= $264,600

Therefore for computing the net cash provided (used) by financing activities we simply applied the above formula.

5 0
3 years ago
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