Answer:
Crane Company
If Crane Company uses LIFO, the value of the ending inventory is:
= $440.
Explanation:
a) Data and Calculations:
Units Unit Cost Total Cost
1/1/20 inventory 150 $4.00 $600
1/15/20 Purchase, 70 5.10 357
1/28/20 Purchase, 70 5.30 371
Total 240 $1,328
1/31/20 inventory 110 $4.00 $440 ($4.00 * 110)
b) The LIFO method assumes that goods that are sold first are the last that were purchased. Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased. In our case, the cost per unit was based on the beginning inventory balance.
Answer:
Net cash provided by operating activities $3,221,400
Explanation:
The computation of the net cash provided by operating activities using the indirect method is given below
cash provided by operating activities
Net income $2,950,000
Add: depreciation $188,800
Add: decrease in account receivable $413,000
Less: decrease in account payable -$330,400
Net cash provided by operating activities $3,221,400
Answer: Loan forgiveness repayment plan.
Explanation:
The Extended Repayment Plan: This is a repayment plan option whereby the loan can be paid back for a period of about 25 years.
The Income-Sensitive Repayment Plan: This is a repayment plan option for those who want low income. Here, payment can either increase or reduce based on what the person earns annually.
The Graduated Repayment Plan: This is a repayment plan option which increases every two years.
The loan forgiveness repayment plan is not a repayment plan option.
Answer:
supplier B
Explanation:
Traditional cost analysis consists of of analyzing a company's costs independently and then adding them together to determine total incurred costs. The total cost analysis reviews the total functional costs of the company as a single cost factor (large picture), not just the additional of several individual costs.
In regards to this question, supplier B offers the lowest ownership cost which can be interpreted as the lowest operational cost. Whenever a company is purchasing new equipment, it should always focus on the large picture (total cost analysis) and include into the cost equation not only the purchase cost, but also the operational costs.
Answer:
monthly Payment = $937.65
Explanation:
Given that Don bought a new automobile for $28,000 and that Don made a cash down payment of $7,000 also and agreed to pay the remaining balance in 30 monthly installments . We know that the Loan Amount = 28,000 - 7,000 = $21,000 . Now we need to calculating Monthly Payment on Loan by Using TVM Calculation,
We have
PMT = [PV = 21,000, FV = 0, N = 30, I = 0.24/12]
PMT = $937.65
Therefore, the monthly Payment = $937.65
