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Vlada [557]
3 years ago
14

Tony’s Market recorded the following events involving a recent purchase of inventory: Received goods for $80,000, terms 2/10, n/

30. Returned $1,600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s inventory
A. increased by $76,832.
B. increased by $78,800.
C. increased by $77,224.
D. increased by $77,232.
Business
1 answer:
kap26 [50]3 years ago
4 0

Answer:

Correct option is D

Answer is increased by $ 77232

Explanation:

Effect on Inventory:    

Increase due to purchase $80000  

Decrease due to return   -$1600  

Increase for freight paid  $400  

Decrease for discouont availed -$1568 (78400*2%)

<u>Net Increase in Inventor =$77,232</u>

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Worthington Chandler Company purchased equipment for $12,000. Sales tax on the purchase was $800. Other costs incurred were frei
insens350 [35]

Answer:

d. $13,575

Explanation:

The cost of the equipment includes all the cost incurred to bring the equipment to a state where it becomes available for use.

These costs are the cost of the equipment, sales tax, freight, repairs during installation and installation cost.

Therefore,

Cost of the equipment = $12,000 + $800 + $200 + $350 + $225

                                       = $13,575

The right option is d. $13,575.

3 0
3 years ago
Sam can only hire two full-time employees, but he needs even more help to make the two products he sells. Product Alpha has a co
blagie [28]

Answer:

Which product would result in the highest contribution margin - Product Beta

Explanation:

Here is a situation where production is limited by a particular resource - Labor Hours.

To determine which product to manufacture, Sam has to rank the Contribution per unit of the limiting factor - labor of Product Alpha and Product Beta

Contribution per limiting factor are already calculated as:

Product Alpha -  $750 per unit of limited resource

Product Beta - $975 per unit of limited resource

The Product with Highest Contribution per limiting factor results in highest contribution margin and must be worked on first

8 0
3 years ago
A $1000 bond with a coupon rate of 6.2% paid semi annually has eight years to maturity and a yield to maturity of 8.3%. If inter
mel-nik [20]

Answer:

Correct option is (C)

Explanation:

Given:

Face value of bond (FV) = $1,000

Coupon rate = 6.2% annual and 6.2 / 2 = 3.1% semi annual

Coupon payment (pmt) = 0.031 × 1,000 = $31

Maturity period (nper) = 8×2 = 16 periods

Rate = 8.3% annual or 8.3 / 2 = 4.15%

Present value of bond can be computed using spreadsheet function =PV(rate,nper,pmt,FV)

Present value of bond when yield is 8.3% is $878.99

If ytm increases to 8.6% annual or 8.6 / 2 = 4.3% semi annual, then present value of bond will be $863.22 (using spreadsheet function again)

It can be seen that as ytm increased from 8.3% to 8.6%, price of bond fell by $15.77 approximately (878.99 - 863.22)

7 0
3 years ago
Brad Carlton operates Carlton Collectibles, a rare-coin shop in Washington, D.C., that ships coins to collectors in all 50 state
Veronika [31]

Answer: He would have sales based on his appraisal and would use tax collection based on he has commercial domicile there

Explanation:

Carlton would have sales based on the appraisal his work receives in Virginia and Maryland. Appraisals go a long way to promote sales in business especially comes from clients who tend to give feedback based on the product they have used. He would use tax collection in the district of Columbia due to he has a commercial domicile in that area.

6 0
2 years ago
Brevik Builders has an expected ROE of 25%. Its dividend growth rate will be __________ if it follows a policy of paying 30% of
Tems11 [23]

Answer: C. 17.5%

Explanation:

The Return on Equity can be calculated by the formula;

ROE = Growth rate / (1 - dividend payout ratio)

25% = Growth rate / ( 1 - 30%)

Growth rate = 25% * 70%

Growth rate = 17.5%

6 0
3 years ago
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