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pickupchik [31]
3 years ago
10

Olympus Climbers Company has the following inventory data:

Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

July 1: Beginning inventory - 30 units at $19

July 7: Purchases - 105 units at $20

July 22: Purchases - 15 units at $22

A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand.

First, we need to determine the number of units sold:

Units sold= total units - ending inventory in units

Units sold= 150 - 48= 102 units

<u>Under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the price of the firsts units incorporated into inventory.</u>

COGS= 30*19 + 72*20= $2,010

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g Donald’s employer fires Donald after only four months on the job, a clear breach of Donald’s written twelve-month employment c
insens350 [35]

Answer:

Compensatory Damages

Explanation:

Based on this scenario it can be said that Donald is entitled to Compensatory Damages. This is a lawsuit that covers the loss that the non-breaching party incurred as a result of the breach of contract. In this scenario, Donald's employer breached the contract by firing Donald before the twelve months. Therefore Donald can sue for compensatory damages which would be the amount of money that he would have made in the rest of the twelve months.

8 0
3 years ago
The classified Balance Sheet will subsection the assets section as follows a. Current Assets and Property, Plant, and Equipment
anyanavicka [17]

Answer:

a. Current Assets and Property, Plant, and Equipment

Explanation:

These classify the assets and liabilities in the classified balance sheet into various types Including assets that are divided into Property, Plant, and Equipment, current assets.

Liabilities are similarly divided into current liabilities, long-term liabilities The accounting equation is used in any balance sheet that means

Total assets = Total liabilities + shareholder equity

7 0
2 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budg
Sati [7]

Answer:

Bramble Corporation

The difference between cash receipts and cash disbursements for December would be:

=  $71,000

Explanation:

a) Data and Calculations:

Balance Sheet October 31

Assets Cash                            $ 21,400

Accounts receivable                  71,400

Merchandise inventory           156,800

Property, plant and equipment,

net of $573,400 accumulated

depreciation                        1,095,400

Total assets                      $ 1,345,000

Liabilities and Stockholders' Equity

Accounts payable              $ 255,400

Common stock                      821,400

Retained earnings                268,200

Total liabilities and

stockholders' equity      $ 1,345,000

                                     November       December      January

Budgeted sales            $320,000        $300,000   $290,000

Cash Collections:

55% month of sale         176,000            165,000      159,500

45% following month       71,400             144,000      135,000

Total collections          $247,400         $309,000   $294,500

Cost of goods sold     $224,000         $210,000    $203,000

=  (70% of Sales for the month)

Ending Inventory            147,000            142,100

Goods available           $371,000        $352,000

Beginning Inventory      156,800            147,000       142,100

Purchases                    $214,200        $205,000

Cash disbursements:

Payment to suppliers   255,400           214,200      205,000

Other monthly exp.        23,800             23,800

Total disbursements $279,200         $238,000

Comparison of Cash receipts with Cash disbursements:

                                   November       December

Cash receipts             $247,400         $309,000

Cash disbursements $279,200         $238,000

Difference                    ($31,800)           $71,000

8 0
3 years ago
An individual who previously worked as a salaried corporate attorney loses his or her job. Subsequently, the individual now work
Licemer1 [7]

This individual has experienced structural mobility

Structural mobility:

It happens when societal changes enable a whole group of people to move up or down the social class ladder. Structural mobility is attributable to changes in society as a whole, not individual changes.

In the first half of the twentieth century, industrialization expanded the U.S. economy, raising the standard of living and leading to upward structural mobility. In today’s work economy, the recent recession and the outsourcing of jobs overseas have contributed to high unemployment rates. Many people have experienced economic setbacks, creating a wave of downward structural mobility.

When analyzing the trends and movements in social mobility, sociologists consider all modes of mobility. Scholars recognize that mobility is not as common or easy to achieve as many people think. In fact, some consider social mobility a myth.

What is structural social mobility ?

The concept of structural social mobility refers to change in the social position of many people due to changes in society itself.

Learn more social mobility :

brainly.com/question/26717828

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4 0
1 year ago
A grocery store manager must decide whether to buy four rug cleaners to rent to customers. The manager estimates that the first
aksik [14]

Answer:

It will purchase three.

Explanation:

the return will be:

income / investment

1ST  rug cleaners:    200/500 = 40% return

2 rug cleaners:   150/500 =  30% return

3 rug cleaners:   75/500 = 15% return

4 rug cleaners:  20/500 =  4% return

As the current market rate is 12% if the forth rug cleaner is pruchased it will not turn out profitable.

7 0
3 years ago
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