Answer: $94,000
Explanation:
It should be noted that depreciation expense will not be included on the cash budget because it is non-cash. Therefore, the ending cash balance to be reported on the month ended June 30 cash budget will be:
Beginning cash balance on June 1 = $73,000
Add: Cash receipts from sales = $413,000
Less: Budgeted cash disbursements for purchases = $268,000
Less: Budgeted cash disbursements for salaries = $35,000
Less: Other budgeted cash expenses = $57,000
Less: Cash repayment of bank loan, $32,000
= $73,000 + $413,000 - $268,000 - $35,000 - $57,000 - $32,000
= $94,000
Answer: $650,000
Explanation:
Given that,
Fair and par value of issued bonds = $150,000
Prior acquisition, McGuire reported
Total assets = $500,000
Liabilities = $280,000
Stockholders’ equity = $220,000
At that date, Able reported
Total assets = $400,000
Liabilities = $250,000
Stockholders’ equity = $150,000
Account payable to McGuire = $20,000
Total assets reported by McGuire after acquisition:
= Total assets + Fair value of investment
= $500,000 + $150,000
= $650,000
Answer:
$6.00
Explanation:
Given data
quantity demanded ( x ) ∝ 1 / p^3 for p > 1
when p = $10/unit , x = 64
initial cost = $140, cost per unit = $4
<u>Determine the price that will yield a maximum profit </u>
x = k/p^3 ----- ( 1 ). when x = 64 , p = $10 , k = constant
64 = k/10^3
k = 64 * ( 10^3 )
= 64000
back to equation 1
x = 64000 / p^3
∴ p = 40 / ∛x
next calculate the value of revenue generated
Revenue(Rx) = P(price ) * x ( quantity )
= 40 / ∛x * x = 40 x^2/3
next calculate Total cost of product
C(x) = 140 + 4x
Maximum Profit generated = R(x) - C(x) = 0
= 40x^2/3 - 140 + 4x = 0
= 40(2/3) x^(2/3 -1) - 0 - 4 = 0
∴ ∛x = 20/3 ∴ x = (20/3 ) ^3 = 296
profit is maximum at x(quantity demanded ) = 296 units
hence the price that will yield a maximum profit
P = 40 / ∛x
= ( 40 / (20/3) ) = $6
<span>One part of Henry Clay's proposed American system to bring about economic improvement included support for a high tariff, the intent of which was to protect American industries while also generating revenue for the federal government.</span>