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Aleksandr-060686 [28]
4 years ago
13

Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $46,000 in inventory. During t

he quarter the company purchases $10,300 of new inventory from a vendor, returned $800 of inventory to the vendor, and took advantage of discounts from the vendor of $360. At the end of the quarter the balance in inventory is $34,500. What is the cost of goods sold?
Business
1 answer:
oksian1 [2.3K]4 years ago
3 0

Explanation:

Net purchases= Gross purchases- Returned inventory- Discount on purchases

                       = $10,300- $800- $360= $9,140

Ending inventory= Beginning inventory+ Net purchases- Cost of goods sold

Cost of goods sold= Beginning inventory+ Net purchases- Ending inventory

                               = $46,000+ $9,140- $34,500= $20,640

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Allyson Cooke is a union member and an employee of a company that manufactures surgical equipment. She believes she has a grieva
andriy [413]

Answer: national union president

Explanation:

Since she wasn't paid for overtime, Cooke should contact her national union president, who represents union members to management when workers have complaints.

The aim of the national union is to seek solution to any challenges that are faced by their members. The union also make sure that their members have a comfortable working environment that is safe and also help on negotiating for better pay.

7 0
3 years ago
Which of the following reports filter data before it is presented to the manager as information, and only includes information a
Scrat [10]

Answer: Option A

               

Explanation: In wimples words, a summary  report refers to the statement that is prepared by the organisation with the sole objective of helping the executive level managers in their decision making.

Such reports go through various phases and is converted from a detailed explanation to the points that are most relevant to the organisation. It provides a short form detail of the factors that needs most attention of top managers.

As the top managers have to attend a number of sues they will be unable to make any step from detailed information as that will be time consuming for them.

7 0
3 years ago
During the current year, Walter invests $35,000 in each of two separate corporations. Each investment gives him a 20% ownership
Bond [772]

Answer:

B) Only statement II is correct.

  • II. Has $20,000 of taxable income from Corporation Z.

Explanation:

One of the disadvantages of a C Corporation is that their owners (stockholders) are double taxed. That means that the corporation is taxed and then the stockholders are taxed depending on the dividends that they receive. In this case, Walter has $10,000 of taxable income from Corporation X (= $50,000 x 20%).

On the other hand, sole proprietorships, partnerships, limited liability companies and S Corporations are not taxed, they are pass through entities whose owners are taxed directly. In this case, Walter owns 20% of Corporation Z, therefore he must pay taxes on 20% of taxable income = $100,000 x 20% = $20,000.

8 0
3 years ago
If firms in a perfectly competitive market are incurring economic losses, then as time passes firms ________ and the market ____
Liula [17]

When companies in a competitive market are incurring a monetary loss, a number of the firms will go out of the market. As those corporations go out, the delivery decreases.

An aggressive marketplace is a term in economics that refers to a marketplace where there are a big amount of consumers and dealers and no unmarried consumer or dealer can affect the marketplace. competitive markets have no limitations to entry, lots of buyers and sellers, and homogeneous products.

The four popular forms of market systems consist of ideal opposition, oligopoly market, monopoly market, and monopolistic opposition.

A competitive market creates opposition amongst customers. which means one patron competes with another for an amazing or carrier, specifically for dwindled stock. for example, when it comes to buying tickets to a wearing event or music concert, customers often compete to buy high-quality seats.

Learn more about competitive market here: brainly.com/question/24781573

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6 0
2 years ago
Gadget Twin Inc. has an expected net operating profit after taxes, EBIT(I-T), 12,600 million in the coming year. In addition, th
lina2011 [118]

Answer:

$10,670 million

Explanation:

The computation of the free cash flow is shown below:

= EBIT × (1 -Tax Rate) + Depreciation & Amortization - Change in Net operating Working Capital - net capital Expenditure.

= $12,600 million - $0 - $1,890 million - $40 million

= $10,670 million

We simply deduct the increase in net operating capital and the net capital expenditure from the EBIT after tax so that the accurate amount can come

All other information which is given is not relevant. Hence, ignored it

8 0
4 years ago
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