Answer:
$56,400
Explanation:
Jefferson company has a sales of $306,000
The cost of goods available for sale is $270,600
The first step is to calculate the gross profit
= 306,000 × 30/100
= 306,000 × 0.3
= 91,800
The cost of goods sold can be calculated as follows
= $306,000-91,800
= $214,200
Therefore the estimated cost of ending inventory under the gross profit method can be calculated as follows
= $270,600-214,200
= $56,400
Answer:
Results are below.
Explanation:
Giving the following information:
Interest rate= 5%
Number of years= 2019 - 1900= 119
a. Initial investment= $1,000
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
FV= 1,000*(1.05^119)
FV= $332,297.13
b. Future value= $1,000,000
Present value formula:
PV= FV/(1+i)^n
PV= 1,000,000/ 1.05^119
PV= $3,009.36
Answer:
$235,000
Explanation:
Under the accrual accounting system, expenses are recognized in the period incurred and not necessarily in the period cash is paid.
Revenue is also recognized in the period earned and not necessarily when cash is collected.
Total revenue in 2018 = $200,000 + $150,000
= $350,000
Net income is the difference between the revenue and expense
Net income in 2018 = $350,000 - $115,000
= $235,000
Answer:
What is the amount of the income or loss from acceptance of the offer?
b. $25,000 loss
Explanation:
If the company has a variable cost of $11 for each unit produced, then the gross margin to cover the fixed cost it's ($16 - $11 = $5), but the company has a fixed cost of $5 for each unit produced, means that the company loss $1 for each unit sold to the exporter.
The the company has a loss of $1 * 25,000 Units= $25,000
Answer:
Personal financial planning
Explanation:
If you plan out how you will spend, save, and invest your money, you can get to many places in live.
