Answer:
a. Income Statement for the month of October 2022
<u>Revenue:</u>
Service revenue $19,540
<u>Expenses:</u>
Salaries and Wages $2,800
Supplies Expenses $360
Depreciation Expenses $260
Interest Expenses <u>$350 </u>
Total Expenses <u>$3,770</u>
Net Income <u>$15,770</u>
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b. Retained earnings statement for the month of October 2022
Retained Earnings, October 1, 2020 $0
Add: Net Income <u>$15,770 </u>
Retained Earnings, October 31, 2020 <u>$15,770</u>
Answer:
Production= 45,000 units
Explanation:
Giving the following information:
Raw materials, June 1: 46,000 units
Raw materials, June 30: 51,000 units
Purchases of raw materials during June: 185,000 units
<u>First, we need to calculate the raw material used in production:</u>
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Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 46,000 + 185,000 - 51,000
Direct material used= 180,000
<u>Now, the production for the period:</u>
Production= 180,000/4
Production= 45,000 units
Money demand for transactions
Answer:
left as well as the contractionary monetary policy, then bring about the
increase of interest rate as well as reducing equilibrium quantity of money.
Explanation:
Liquidity Preference model can be regarded as a model gives suggestions about investor and interest rate, the model entails that high interest rate as well as premium on securities associated with long-term maturities with higher risk should be demanded by investors, reason behind this suggestions is that most investors will always go for cash as well as available highly liquid holdings, all things been equal. It should be noted that Using the liquidity-preference model, the Federal Reserve can react to the threat of exceedingly high inflation via monetary policy by shifting the supply of money to the left as well as the contractionary monetary policy, then bring about the increase of interest rate as well as reducing equilibrium quantity of money.
When identical units of an item are purchased at different costs: <span>an inventory cost flow method must be used under both a perpetual and a periodic inventory system.
A perpetual inventory system will update your inventory on hand after each sale or purchase of inventory is made. A periodic inventory system is updated periodically, meaning, a company will give a time period they would like their sales and purchases to update in and the system will perform that. Both systems are great for a business but it's their option of how they are generated.
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