Answer:
$3,475.75
Explanation:
the journal entries required to record the purchases are:
Dr Inventory 5,500
Cr Accounts payable 5,500
Dr Inventory 360
Cr Cash 360
Dr Accounts payable 2,475
Cr Inventory 2,475
Dr Accounts payable 3,025
Cr Cash 2,934.25
Cr Purchase discounts 90.75
Cost of inventory = $5,500 + $360 - $2,475 - $90.75 = $3,475.75
Answer:
Option A Written report that quantitatively describes a firm's financial health
Explanation:
The reason is that the financial statements reflects the firm's finanacial health in terms of profits & losses, Assets and its worth, Cash flows and Equity at the year end. This gives an overview where the company is heading. Financial statements gives an overview how the company has managed its costs, increased profits, increased investments, cash generation from core operations, etc. It has wide number of use for decision making purposes for its stakeholders.
Answer:
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Answer:<u><em>Therefore the current stock price is 
= $44.384</em></u>
Explanation:
Stock price for 
year or 
is as follows:
= ![[\frac{12}{(13-4)}]](https://tex.z-dn.net/?f=%5B%5Cfrac%7B12%7D%7B%2813-4%29%7D%5D)
= $133.33
The current stock price or is
= 
= 
= $44.384
<u><em>Therefore the current stock price is = $44.384</em></u>
Answer:
Option E. None of the choices are correct.
Explanation:
The substitution effect refers to the situation whereby there is a decrease in sales for a particular product due to the fact that consumers are switching to cheaper alternatives when its price rises.
The substitution effect arises purely out of the need for consumers to be frugal. If a producer raises the price of their commodities, some consumers will opt for a cheaper alternative. For example, if beef prices go up, many consumers will switch to chicken.
A manufacturer can also experience the substitution effect when faced with a price hike for an essential raw material needed for production, he/she may switch to cheaper resources.
