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OverLord2011 [107]
3 years ago
10

Compute cost of goods sold using the following information: Finished goods inventory, beginning $ 540 Cost of goods manufactured

4,400 Finished goods inventory, ending 950
Business
1 answer:
SVEN [57.7K]3 years ago
4 0

un u get the numbers then subtract them and come good with the answer

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Kingbird Company sells 290 units of its products for $18 each to Logan Inc. for cash. Kingbird allows Logan to return any unused
tensa zangetsu [6.8K]

Answer:

Kingbird Company

a. The amount of Net Sales = $5,040.

b. The amount of the estimated liability for refunds = $180

Explanation:

a) Data and Calculations:

Units of products sold to Logan Inc. = 290

Selling price = $18

Sales revenue = $5,220 ($18 * 290)

Cost of each unit = $11

Expected returns = 10/290 = 0.03448

Net sales = $5,220 * (1 - 0.03448)

= $5,040

Estimated liability for refunds = $180 ($5,220 - $5,040)

8 0
2 years ago
Leah deposited $50,000 in the bank. Three years later, she borrowed $40,000 for a new truck. From this description, which is the
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B. leah did not have to provide collateral

5 0
3 years ago
Read 2 more answers
Quip Corporation wants to purchase a new machine for $300,000. Management predicts that the machine will produce sales of $200,0
butalik [34]

Answer:

net present value NPV = $79800

so correct option is D) $79,800

Explanation:

solution

we knw that Net Present value = PV of cash inflow - PV of cash outflow    ............1

so here PV of cash outflow = $300000  

and Net sales = $200000

expenses = $80000

Depreciation =  \frac{300000-50000}{5}

Depreciation =  $50000

so Net income before taxes  = Net sales - Depreciation - expenses

Net income before taxes =  $200000  - $80000 - $50000

Net income before taxes =  $70000

and Tax expenses @ 40% = $28000

so

Net income = Net income before taxes - Tax expenses

Net income = $70000  - $28000

Net income = $42000

and

Depreciation = $50000

Net cash inflow =  Net income + Depreciation

Net cash inflow =  $42000  + $50000

Net cash inflow = $92000

and

PVIFA @ 10% 5 years = $3.7908

so

PV of cash inflow = $348755

PV of salvage value = $50000 ×0.6209

PV of salvage value = $31045

and

so here  Total PV of total cash inflow = $379800

and

net present value  NPV =  Total PV of total cash inflow - PV of cash outflow

net present value NPV = $379800 - $300000

net present value NPV = $79800

so correct option is D) $79,800

7 0
3 years ago
Jackson Corp. (a U.S.-based company) sold parts to a Korean customer on December 16, 2021, with payment of 20 million Korean won
Stolb23 [73]

Answer:

The correct option is (b)

Explanation:

According to the scenario, the foreign currency that original sold at the market is shown below:

= (Forward rate to Jan 15 - Spot rate) × paymen made

= ($0.00089 - $0.00082 ) × 20 million

= $0.00007 × 20,000,000

= $1,400 premium

hence, the foreign currency that originally sold at the market is $1,400 premium

Therefore the correct option is (b)

5 0
2 years ago
Required information Use the following information for the Exercises below. Skip to question [The following information applies
Lyrx [107]

Answer:

Follows are the solution to this question:

Explanation:

In point A:

The estimated amount of uncollectible allowance =\$ \  635,000 \times 4 \% = \$ \ 2,540,000

In point B                                    Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts                \$ \ 2,526,700

Doubted debt allowance                          \$ \ 2,526,700 \  \   (\$ \ 2,540,000 - \$ \ 13,300)

(Bad Debts Expense recorded)  

In point C                                         Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts               \$ \ 2,553, 300

Doubted debt allowance                        \$ \ 2,553, 300     \ \ \ \ (\$ \ 2,540,000 + \$ \ 13,300)    

(Bad Debts Expense recorded)  

5 0
3 years ago
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