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AysviL [449]
3 years ago
10

Blue Spruce Corp. took a physical inventory on December 31 and determined that goods costing $229,500 were on hand. Not included

in the physical count were $30,000 of goods purchased from Blossom Company, FOB, shipping point, and $25,500 of goods sold to Splish Brothers Inc. for $33,000, FOB destination. Both the Blossom purchase and the Splish Brothers sale were in transit at year-end. What amount should Blue Spruce report as its December 31 inventory?
Business
1 answer:
Irina18 [472]3 years ago
3 0

Answer:

Blue Spruce report as its December 31 inventory is $285,000

Explanation:

Correct inventory

= 229,500 + goods purchased FOB shipping point 30,000 + goods sold FOB destination 25,500

= 229,500 + 30,000 + 25,500

= 285,000

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Louise McIntyre's monthly gross income is $2,000. Her employer withholds $400 in federal, state, and local income taxes and $160
GREYUIT [131]

Answer:

a) 27.2%

b) No

Explanation:

Given:

Monthly gross income = $2,000

Federal, state, and local income taxes = $400

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IRA per month = $80

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Monthly credit payments for MasterCard, = $30

Monthly credit payments for Discover cards = $20

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Net income of Louise = Gross income - Total Taxes - IRA

= $2,000 - ( $400 + $160 ) - $80

= $1,360

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= ( $35 + $30 + $20 ) + $285

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Therefore,

Debt payments-to-income ratio = \frac{\textup{Debt payments}}{\textup{Net income
}}

= \frac{\textup{370}}{\textup{1,360}}

= 0.272

or

= 0.272 × 100% = 27.2%

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Read 2 more answers
A city that is attempting to attract a professional football team is planning to build a new stadium costing $500 million. Annua
garik1379 [7]

Answer:

Capitalized cost = - $510,758,686.20

Explanation:

Interest rate = r = 10%, or 0.10

Present value of base cost = $500 million = $500,000,000

Present value of annual upkeep =  $1,000,000 / r = $1,000,000 / 0.10 = $10,000,000

Present value of the replacement cost of artificial turf  every 20 years = ($2,000,000 * (r / (((1 + r)^20) - 1)) / r = ($2,000,000 * (0.10 / (((1 + 0.10)^20) - 1)) / 0.10 = $349,192.50

Present value of painting every 5 years = ($250,000 * (r / (((1 + r)^5) - 1)) / r = ($250,000 * (0.10 / (((1 + 0.10)^5) - 1)) / 0.10 = $409,493.70

Therefore, we have:

Capitalized cost = - Present value of base cost - Present value of annual upkeep - Present value of the replacement cost of artificial turf  every 20 years - Present value of painting every 5 years = - $500,000,000 - $10,000,000 - $349,192.50 - $409,493.70 = - $510,758,686.20

6 0
2 years ago
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