Answer:
$47,100
Explanation:
The cost of goods available for sale is the sum of the opening balance and the net purchases during the period.
The net purchases is the difference between the total purchases and the allowances and discounts and returns.
Hence,
Cost of goods available for sale
= $15,000 + $40,000 - $2,000 - $500 - $5,700 + $300
= $47,100
Answer:
a) & 2) ; b) & 1) ; c) & 4) ; d) & 3)
Demand Curve ; Demand Schedule
Explanation:
a) A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices : 2) Demand Curve
b) The amount of a good that buyers are willing and able to purchase at a given price : 1) Quantity Demanded
c) The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good : 4) Law of Demand
d) A table showing the relationship between the price of a good and the amount that buyers are Willing and able to purchase at various prices : 3) Demand Schedule
- If Rina's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct<u> Demand Curve</u> using the data provided.
- If Rina's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that <u>Demand Schedule</u> would be more appropriate.
Answer:
The answer is stated below:
Explanation:
The effects of the transactions which should be reported on the cash flow statement is shown as:
The sale and the purchase of the land are the part of the cash flow from investing activities as:
Cash paid for the purchase of land................................. ($400,000)
Cash received from the sale of land................................ $240,000
The gain on sale of the land is reported under the cash from operating activities, it is deducted from net income.
Gain on sale of land................................... ($40,000)
Note: (), this depict the minus sign.
Working notes:
Gain on sale of land = Sale value - Book value
= $240,000 - $200,000
= $40,000
Answer:
Assets: increase by 19,500,000
Liablities: increase by 19,500,000
Equity: no effect
Explanation:
cash proceeds: 19,500,000
face value: 20,000,000
discount 500,000
As the bonds issued were sold below par there is a discount.
the entry will be:
cash 19,500,000
discount on BP 500,000
bonds payable 20,000,000
This will generate an increase on assets for 19,500,000
and increase liablities for 19,500,000
The issuance of bonds do not generate revenues or expenses. So the equity remains unchanged-