Answer:
Explanation:
Farmer:
Total cost of production of farmer = number of bushel × cost of per bushel
= 119 × $3
= $357
Total revenue of farmer = price × quantity sold
= $5 × 119
= $595
Total profit of farmer = Total revenue - Total cost
= 595 - 357
= 238
Firm F:
Total cost of production of firm F = pounds of flour × cost of per pound
= 51 × $6
= 306
Total revenue of firm F = price × quantity sold
= $10 × 45
= 450
Total profit of Firm F = Total revenue - Total cost
= 450 - 306
= 144
Answer:
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
Explanation:
Credit terms of 3/10, n/30 means that 3% discount for the payment within 10 days and the full amount to be paid within 30 days.
On January 1, the company purchase inventory:
Debit Inventory $10,000
Credit Accounts Payable $10,000
The company makes the payment on January 10 and takes the appropriate discount:
3% x $10,000 = $300
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
D Allocating is the correct answer
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Net operating capital of $29,800, internet constant belongings of $sixty four,800, contemporary liabilities of $34,seven hundred, and long-term debt of $23,000.The fee of the owners' equity= $ 71,six hundred
Working capital, also referred to as net running capital (NWC), is the difference between a business enterprise's contemporary belongings—which include cash, money owed receivable/clients' unpaid bills, and inventories of raw substances and completed items—and its modern-day liabilities, along with money owed payable and money owed.
The phrases “operating capital” and “internet operating capital” are synonymous: both discuss the difference between all cutting-edge belongings and all contemporary liabilities. however, some analysts outline net working capital as greater narrowly than working capital.
Internet running capital is important as it offers a concept of a commercial enterprise's liquidity and whether the organization has enough cash to cover its brief-term duties. If the internet operating capital figure is zero or greater, the business is capable of cowl its cutting-edge duties.
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