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ANEK [815]
3 years ago
7

Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $28,0

00; net cash used in investing activities was $10,000 and net cash used in financing activities was $12,000. If the beginning cash balance is $5,000, what is the ending cash balance?
$55,000.
$45,000.
$31,000.
$6,000.
$11,000.
Business
1 answer:
mixas84 [53]3 years ago
6 0
The ending cash balance will be $11,000.

$28,000- $12,000
$16,000
$16,000-$10,000
$6,000
$6,000+$5,000
$11,000
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Presented below is information related to Bobby Engram Company.
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A. $ 98,210

B1. Cost to retail percentage 60%

B2. Cost to retail percentage 65.73 %

B3. Cost to retail percentage 58 %

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Explanation:

A. Computation for the ending inventory at retail

Inventory at Retail

Beginning Inventory $ 100,000

Purchase ( Net ) $ 200,000

Net Markup $ 10345

Less Net Markdown ($26,135)

Less Sales Revenue ($ 186,000)

Ending Inventory $ 98,210

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B1) Computation for a cost-to-retail percentage

Excluding both markups and markdowns.

Cost to Retail Percentage

Excluding both Markup and Markdown

Cost Retail

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Purchase (Net) $ 122,000 $ 200,000

Total $ 180,000 $ 300,000

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B2. Computation for a cost-to-retail percentage Excluding Markups but Including Markdown

Cost Retail

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Purchase (Net) $ 122,000 $ 200,000

Less Mark down ($ 26,135)

Total $ 180,000 $273,865

Cost to retail percentage= $180,000 /$ 273,865*100

Cost to retail percentage= 65.73 %

B3. Computation for a cost-to-retail percentage Excluding Markdowns but including Markups

Cost Retail

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Purchase Net $ 122,000 $ 200,000

Add Net Markups $ 10,345

Total $180,000 $ 310,345

Cost to retail percentage = $180,000 / $ 310,345*100

Cost to retail percentage = 58 %

B4. Computation for a cost-to-retail percentage Including both Markups and Markdown

Cost Retail

Beginning Inventory $58,000 $100,000

Purchase Net $ 122,000 $ 200,000

Net Markups $ 10,345

Less Net Mardown ($26,135)

Total $ 180,000 $ 284,210

Cost to retail percentage = $ 180,000/ $ 284,210 × 100

Cost to retail percentage = 63.33 %

Therefore the cost-to-retail percentage are:

B1. Cost to retail percentage 60%

B2. Cost to retail percentage 65.73 %

B3. Cost to retail percentage 58 %

B4. Cost to retail percentage 63.33 %

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