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Leokris [45]
2 years ago
15

Crane uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (ret

ail) were $378000 ($582000), purchases during the current year at cost (retail) were $1815000 ($3060000), freight-in on these purchases totaled $117000, sales during the current year totaled $2760000, and net markups (markdowns) were $60000 ($96000). What is the ending inventory value at cost
Business
1 answer:
GenaCL600 [577]2 years ago
5 0

Answer:

$524,520

Explanation:

The computation of the ending inventory at cost is shown below:

Particulars                          Cost Retail

Beginning Inventory $378,000      $582,000

Purchases                $1,815,000     $3,060,000

Freight In                $117,000  

Net Mark ups                                  $60,000

Total                       $2,310,000      $3,702,000     (62%)

Net Mark Downs                           -$96,000

Sales                                           -$2,760,000

Ending Inventory       $2,310,000           $846,000

So, at 62%, the ending inventory is

= $846,000 × 62%

= $524,520

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Securities issued by all of the following organizations are exempt from the registration requirements of the 1933 Securities Act
ss7ja [257]

Answer:

C. State and local governments

Explanation:

Securities are commercial debts or equity instruments sold to investors in the financial markets. Public-listed corporations or the government may issue securities as a way of raising capital.  The Securities Act of 1933 requires securities registered with the SEC and abide by the other provisions in the act, such as full disclosure of financial information.

However, not all securities issued must be registered with the SEC.  Exemptions are granted to certain types of securities. Financial instruments issued by or having government backing are considered to have the exception status.

3 0
2 years ago
Following the assumption that firms maximize profits, how will the price and output policy of an unregulated monopolist compare
Mamont248 [21]

Answer:

The correct answer is (A) output will be too small and its price too high.

Explanation:

MONOPOLY PRICE: price that departs from the value or production price of a given merchandise. Economic way in which capitalist monopolies obtain super profits. The monopoly price is equal to the production costs plus the high monopoly gain. There are two types of monopoly prices: the high ones, to which the monopolies sell their production and the low ones, to the monopolies buying the raw material or products destined for reworking and for sale, especially in colonial and dependent countries. In order to keep monopoly prices on the market, capitalist monopolies: 1) hinder the free emigration of capital by preventing the competitor from lowering the monopoly price or establishing an agreement with him to maintain a certain price, 2) limit the The production of goods in the internal market, without certain reductions in production, not even the destruction of "surplus" goods, 3) uses the bourgeois state to protect the internal market against foreign competition by establishing high tariff rates. Monopoly prices do not eliminate the action of the law of value as a law of merchandise prices. What monopoly capital earns thanks to monopoly prices, is lost by workers in capitalist countries and also the popular masses of colonial and economically weak countries, from which monopolists, through non-equivalent exchange, derive huge profits. A certain portion of the monopoly price is part of the gain of the bourgeoisie that does not enter the monopoly group. In this way, the interests of different classes and groups of today's capitalist society intersect in the monopoly price. For this reason, the growth of high monopoly prices, as well as the reduction of low monopoly prices - a phenomenon that is observed endlessly - leads to the further sharpening of the class contradictions of imperialism.

3 0
3 years ago
Tubaugh Corporation has two major business segments--East and West. In December, the East business segment had sales revenues of
kicyunya [14]

Answer:

<em>Net operating Income of the company 130,000</em>

Explanation:

\left[\begin{array}{cccc}-&East&West&Total\\Sales&690,000&140,000&830,000\\Variable&352,000&56,000&408,000\\Contribution&338,000&84,000&422,000\\Fixed Cost&104,000&24,000&292,000\\Income&234,000&60,000&130,000\\\end{array}\right]

We have to arrange the values, and don't forget to add the common fixed cost of 164,000 in the total fixed cost line.

Net operating Income of the company 130,000

7 0
3 years ago
Jenna began the year with a tax basis of $45,000 in her partnership interest. Her share of partnership debt consists of $6,000 o
agasfer [191]

Answer:

a) Jenna's tax basis = $45,000 + ($13,000 - $10,000) = $48,000

loss allocation = $65,000

loss limited by her tax basis = $65,000 - $48,000 = $17,000

b)  Jenna's at risk loss = $48,000 - $13,000 = $35,000

c) Jenna's loss limited by passive activity = $35,000 - $4,000 = $31,000

4 0
3 years ago
As a finance manager at AllSports Communication, Charlie worries about the firm's borrowing requirements for the upcoming year.
denpristay [2]

Answer: Cash budget

Explanation:

 The cash budget is the term which is used to define cash flow in the business as it helps in establishing a specific budget by proper analyzing on the outgoing flow and the inflow in an organization.

 Th Cash flow is one of the important concept which is typically used by the various types of organizations for operating all the expenses and the the cash budget is used to avoid the problem of cash shortage.

 According to the given question, the Cash budget is basically providing Charlie with some valuable data or information by proper estimation regarding the requirement of firm. Therefore, Cash budget is the correct answer.  

5 0
3 years ago
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