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Bumek [7]
3 years ago
10

Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning in

ventory. It purchased A thru G in January at $6.00 per letter. In February, it purchased H thru L at $8.00 per letter. It purchased M thru R in March at $9.00 per letter. It sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year. If Alphabet Company uses the LIFO method, what is the cost of its ending inventory
Business
1 answer:
RSB [31]3 years ago
3 0

Answer:

$82

Explanation:

Month                            Quantity       rate         Total  

January purchase            7 letters       6             42

February                           5 letters       8             40

March                                6 letters       9             45

Total                                  18                                127

Number of letters sold = 6

Closing inventory = 18 - 6 = 12

Using LIFO , the last set of item purchased are the first to be sold , therefore the closing inventory will be

(5*8)+(7*6)= $82

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Answer:

C.− NA −NA + −NA

Explanation:

As we know that

The depreciation expense is a non cash expense which is to be charged every year and shown in the income statement

Plus it also reduced the value of the asset and stockholder equity as a retained earning but at the same time it increases the expenses due to which the net income reduced and it does not have any impact on the cash flow statements

Hence, the appropriate option is c.

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3 years ago
Miranda works 40 hours a week at a wage rate of ​$25. Thus, her total weekly income is ​$1000. On this​ income, she pays total t
Vlad1618 [11]

Answer:

15%

Explanation:

If Miranda works 40 hours a week at a wage rate of ​$25. and she ​however calculates that on the last hour that she​ works, she pays ​$3.75. then her marginal tax rate is derived as follows

<em>The marginal tax rate is the incremental tax paid on incremental income.</em>

From the scenario, we are given the following:

Weekly wage rate is $25.

Weekly tax pay is $3.75

Hence, Marginal tax rate  can be computed as = $3.75 / $25 = 15%

8 0
3 years ago
Find three celebrities of your choice. Type a paragraph for each celebrity explaining their net worth. Include their background
Sidana [21]

Answer: SEE EXPLANATION!

Explanation:

Since the time when Billie Eilish first came into the music scene a few years ago, fans have not been able to get enough inner music. At just 18 years old, Eilish has already accomplished more in her career than other artists do in a lifetime. Her music and style is uniquely different, but that is what makes her so great. Many people in this world feel like they are different or “weird.” But when they see this young girl who is famous for dancing to the beat of her own drum, they realize that being different is not a bad thing.

Swift showed an interest in music at an early age, and she progressed quickly from roles in children’s theatre to her first appearance before a crowd of thousands. She was age 11 when she sang “The Star-Spangled Banner” before a Philadelphia 76ers basketball game, and the following year she picked up the guitar and began to write songs. Taking her inspiration from country music artists such as Shania Twain and the Dixie Chicks, Swift crafted original material that reflected her experiences of tween alienation. When she was 13, Swift’s parents sold their farm in Pennsylvania to move to Hendersonville, Tennessee, so that she could devote more of her time to courting country labels in nearby Nashville. A development deal with RCA Records allowed Swift to make the acquaintance of recording-industry veterans, and in 2004, at age 14, she signed with Sony/ATV as a songwriter. At venues in the Nashville area, she performed many of the songs she had written, and it was at one such performance that she was noticed by record executive Scott Borchetta. Borchetta signed Swift to his fledgling Big Machine label, and her first single, “Tim McGraw” (inspired by and prominently referencing a song by Swift’s favourite country artist), was released in the summer of 2006.

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8 0
3 years ago
Read 2 more answers
After purchasing a coffee cup from your local gas station for $5.00, you can always refill your cup for $0.50. The sunk cost of
Law Incorporation [45]

Answer:

$4.50

Explanation:

The sunk cost is the cost that has been incurred and is unrecoverable in the process of taking a financing decision.

If the cost of a coffee cup from a local gas station cost $5.00 and the cost of refill is $0.50, the coffee is the actual element needed and from the refill, it can be estimated that it costs $0.50.

Hence the sunk or unrecoverable cost is the difference between the coffee cup and the refill cost

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= $4.50

3 0
3 years ago
31. A portfolio manager in charge of a portfolio worth $10 million is concerned that stock prices might decline rapidly during t
Angelina_Jolie [31]

Answer:

200

Explanation:

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Number of contract =10,000,000/(500×100)

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Number of contract =200.

A long put position is needed because the contracts must provide a positive payoff when the market reduces.

6 0
3 years ago
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