Answer:
1. Prepare an income statement for Allstar for the past month.
The income statement is given below.
Sales $ 410,000
Commission Cost ($ 50,000)
Technology Cost ($ 75,000)
R/D Cost* ($ 200,000)
Selling expenses ($ 10,000)
Admin expenses ($ 35,000)
Net profit $ 40,000
* In absence of information it is assumed that research and development costs of $200,000 meet defination of expense as per accounting standard (IAS 38).
2. Briefly explain why Allstar's income statement has no line for cost of goods sold.
As per question Allstars is a service oriented company. In services oriented company there is no good that company is manufacturing and selling. So there will not be any cost of good sold line item in income statement.
<span>within 180 days from the time the employee filed a complaint provided the eeoc finds that there has been discrimination
C.
</span>
Answer:
Present value = $21,804 (approx)
Explanation:
Given:
Periodic payment = $3,200
Number of period = 12
Interest rate = 10% = 10/100 = 0.1
Present value = ?
Computation of Present value:
![Present\ value = PMT[\frac{1-(1+r)^{-n}}{r} ]\\\\Present\ value = 3,200[\frac{1-(1+0.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-(1.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-0.318630818}{0.1} ]\\\\Present\ value = 3,200[\frac{0.681369182}{0.1} ]\\\\Present\ value = 21,803.6188](https://tex.z-dn.net/?f=Present%5C%20value%20%3D%20PMT%5B%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D%20%5D%5C%5C%5C%5CPresent%5C%20value%20%3D%203%2C200%5B%5Cfrac%7B1-%281%2B0.1%29%5E%7B-12%7D%7D%7B0.1%7D%20%5D%5C%5C%5C%5CPresent%5C%20value%20%3D%203%2C200%5B%5Cfrac%7B1-%281.1%29%5E%7B-12%7D%7D%7B0.1%7D%20%5D%5C%5C%5C%5CPresent%5C%20value%20%3D%203%2C200%5B%5Cfrac%7B1-0.318630818%7D%7B0.1%7D%20%5D%5C%5C%5C%5CPresent%5C%20value%20%3D%203%2C200%5B%5Cfrac%7B0.681369182%7D%7B0.1%7D%20%5D%5C%5C%5C%5CPresent%5C%20value%20%3D%2021%2C803.6188)
Present value = $21,804 (approx)
Answer:
<em>For Kenji he falls on the category M2, for Lucia it's M2, and for Eric belongs to the category of both M1 and M2 respectively.</em>
Explanation:
<em>M1 money supply comprises of currency in physical form and coin, the demand deposit( check-able) travelers check</em>
<em>
M2 money supply comprises of Certificate deposit and M1, savings, money market funds, and time deposits for example, M2 money supply comprises money. that is less liquid/</em>
- <em>
Kenji has $25000 in a money market account - it belongs to the category of M2 money supply.</em>
- <em> Lucia has $8000 in a two year CD, it belongs to the category - M2 which is money supply
</em>
- <em>Eric withdrew money from the bank to do laundry. The money he took will go to cash that is available or in the economy at that time or the physical currency. these category belongs in M1. As M2 money supply contains M1 therefore this example also belongs in M2.
</em>
