Describe four areas of self-esteem discussed in the text and provide an example of each

. Suppose your firm buys $1,000 worth of supplies on credit with terms 3/15 n60. a. What does "3/15 n60" mean? b. If you pay the

leva [86]

Answer:

a.Please see explanation.

b.0%

c.25.14%

Explanation:

a. 3/15, n 60 means that if my firm pays within 15 days, it will get discount of 3%, otherwise it can pay within 60 days in full.

b. Since, the firm is paying within 14 days i.e. before the discount period of 15 days allowed by supplier,therefore the cost of trade credit in this case will be 0%.

c. annual percentage cost of non-free trade credit based on 365 days can be calculated using the below formula:

Discount %/(100%-Discount %)*(365/(Actual credit days – Discount days))

In this case:

Discount%=3%

Actual credit days=60

Discount days=15

Cost of non- free credit=3%/(100%-3%)*(365/(60-15)

=3%/97%*(365/45)

=0.031*8.11

=25.14%

8 0

4 years ago

The following are several figures reported for Allister and Barone as of December 31, 2021 Inventory Sales Investment income Cos

matrenka [14]

Answer and Explanation:

The balances of the following items are as follows;

Inventory ($500,000 + $300,000 - $5,000) $795,000

Sales ($1,000,000 + $800,000 - $180,000) $1,620,000

Cost of goods sold ($500,000 + $900,000 + $5,000 - $180,000) $725,000

Operating expenses ($230,000 + $300,000 + ($78,000 ÷ 4 years) $549,500

Net income attributable to noncontrolling interest ($100,000 × 10% - $19,500 × 10% - $5,000 × 10% ) $7,550

The $5,000 comes from

= ($180,000 - $130,000) × 10%

= $5,000

8 0

3 years ago

Tyler Smithson owns Joe on the Run, a small chain of three cof- fee shops, all of which are facing a challenge that is common to

prohojiy [21]

Answer:

A) To improve capacity the constraint that must be addressed is the preparation and dispatch constraint which is similar to all three shops.to address this a central preparation / dispatch center that serves all three shops the needed products should be created independently, with the primary purpose of mass preparation/dispatch to the coffee shops and not attending to customers which hampers the production of the three shops.

B ) To improve efficiency: packaging should be made ready at the drive thru station so that customer who drive in can quickly pick up the package without having to queue up for long. also consider preparing some orders on the menu that attracts the most customers ahead of time this way the queue would be reduced.

C ) At store level to improve performance proper stock taking should be essential to ensure there is enough products on the menu to serve to the customers

Explanation:

A) To improve capacity the constraint that must be addressed is the preparation and dispatch constraint which is similar to all three shops.to address this a central preparation / dispatch center that serves all three shops the needed products should be created independently, with the primary purpose of mass preparation/dispatch to the coffee shops and not attending to customers which hampers the production of the three shops.

B ) To improve efficiency: packaging should be made ready at the drive thru station so that customer who drive in can quickly pick up the package without having to queue up for long. also consider preparing some orders on the menu that attracts the most customers ahead of time this way the queue would be reduced.

C ) At store level to improve performance proper stock taking should be essential to ensure there is enough products on the menu to serve to the customers

7 0

3 years ago

What is a personal income tax

Burka [1]

Answer:

Personal income tax is generally computed as the product of a tax rate times taxable income

Explanation:

8 0

3 years ago

Read 2 more answers

Sheridan Enterprises reported cost of goods sold for 2020 of $1,322,900 and retained earnings of $4,854,000 at December 31, 2020

VLD [36.1K]

Answer:

See below

Explanation:

With regard to the above information,

1. Corrected cost of goods sold is computed as

= Cost of goods sold + Overstated ending inventories 2019 - overstated ending inventories 2020

= $1,322,900 + $106,470 - $36,820

= $1,253,250

2. Corrected 12/31/2020 retained earnings is computed as

= Retained earnings DEC 2020 - overstated ending inventories 2020

= $4,854,000 - $36,820

= $4,817,180

5 0

3 years ago