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3 years ago

One year of college tuition at a state school is about the same cost as a toyota camry. this is an example of:

Business

2 answers:

Galina-37 [17]3 years ago

7 0

Correct option: real value

The real value is the value of something (any product or service) in terms of other product or service while Nominal value is the value of something in terms of money. Here the value of college tuition which is a service is equal to the cost of Toyota Camry which is a product. Since the value of a service is equal to the value of a product, this is an example of real value.

soldier1979 [14.2K]3 years ago

3 0

I think the correct answer from the choices listed above is the first option. One year of college tuition at a state school is about the same cost as a toyota camry. This is an example of real value. It is nominal value adjusted for inflation. Hope this answers the question.

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Other financial data for the year ended December 31, 2019: Included in accounts receivable is $1,200,000 due from a customer and

Kipish [7]

Answer:

$5,055,000

Explanation:

Note: The full question is attached below

Particulars Amount

Cash $875,000

Accounts receivable $2,695,000

Less: Installments not due in 2021 ($600,000) $2,095,000

[$1,200,000 - ($150,000 * 4)]

Inventory $2,085,000

Total of current assets $5,055,000

5 0

2 years ago

Causwell Company began 2021 with 13,000 units of inventory on hand. The cost of each unit was $6.00. During 2021 an additional 3

MAVERICK [17]

The cost of Goods Sold - FIFO is 120000 and the cost of Goods Sold - LIFO is 120000.

<h3>How is the cost of goods sold for 2021 using the FIFO method calculated?</h3>

Per Unit Average Cost:

= Cost of Goods Sold with Average Cost ÷ Total Units Sold

= 150,000 ÷ 20,000

=7.5

Cost of Goods Available for Sales:

= (Total of Inventory + Purchased Units) × Per Unit Average Cost

= 43,000 × 6.00

= 258000

Cost of Units Purchased in 2021:

= Cost of Goods Available for Sale - Opening Inventory × Unit Cost

=258000 - 13,000 ×6

=180000

Per Units Cost of Units Purchased in 2021:

= Cost of Units Purchased in 2021 ÷ Total Units Purchased

= 180000 ÷ 30,000

= 6

Part 1:

Cost of Goods Sold - FIFO

Cost of Goods Sold:

= (Opening Inventory × Unit Cost) + (30,000 - 23,000) × Per Units Cost of Units Purchased in 2021

= 13,000 × 6 + 7,000 × 6

= 120000

Part 2:

Cost of Goods Sold - LIFO

Cost of Goods Sold:

= units sold in 2021 × Per Units Cost of Units Purchased in 2021

= 20,000 × 6.00

= 120000

To learn more about FIFO method, refer

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7 0

8 months ago

Ever After Incorporated has common stock that is expected to grow at a rate of 15% over the next year. After this first year, it

dem82 [27]

Answer:

$66.99

Explanation:

The computation of value of the stock is shown below:-

= Dividend in year 1 ÷ (1 + required rate of return) + 1 ÷ (1 + required rate of return) × ((Dividend in year 1 × (1 + growth rate) ÷ (required rate of return - growth rate))

= ($2.33 × 1.15) ÷ 1.06 + 1 ÷ 1.06 × (($2.33 × 1.15 × 1.02) ÷ (0.06 - 0.02))

= $2.6795 ÷ 1.06 + 1 ÷ 1.06 × ($2.73309 ÷ 0.04)

= $2.527830189 + 0.943396226 × $68.32725

= $2.527830189 + 64.45966981

= $66.9875

or $66.99

Therefore for computing the value of stock we simply applied the above formula.

4 0

3 years ago

Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah’s Cycles on February 1 for $1,000 (cost of goods sold o

k0ka [10]

Answer:

Accounts Receivables 1000 debit

Sales Revenues 1000 credit

--to record sale--

COGS 600 debit

Inventory 600 credit

--to record COGS of the previous sale--

Sales Returns 155 debit

Accounts Receivables 155 credit

--to record returned goods--

Inventory 155 debit

COGS 155 credit

--to record goods in good state returning to inventory--

Explanation:

The sale will be reocrded normally then, the return will have two impacts:

first it will decrease the amount of the receivables and make the net sames decrease therefore we will decrease net sales

Last, for the inventory as the godo are in good form and could be resale we record the reception of those good and reverse that portion of COGS sold

3 0

2 years ago

Dave M. Company issues 500 shares of $10 par value Common Stock and 100 shares of $40 par value Preferred Stock as a basket for

Katen [24]

Answer:

Allocation

Common Stock $94,500

Preferred Stock $10,500

Journal Entry

Cash _____________________________$105,000

Common stock _____________________ $5000

Paid-in capital in excess of par - Common _$89,500

Preferred stock _____________________$4,000

Paid-in capital in excess of par - Preferred _$6,500

Explanation:

First, we need to calculate the Market value of both stock using the foloowinf formula

Market value = Numbers of shares x Market value per share

Market value of common stock = 500 x $198 = $99,000

Market value of preferred stock = 100 x $110 = $11,000

Total value = $99,000 + $11,000 = $110,000

Now calculate the weight of each sock

Weight of common stock $99,000 / $110,000 = 0.90

Weight of preferred stock = $11,000 / $110,000 = 0.10

Allocation of the sale price is as follow

Allocated sale price = Weight of Stock x Sale price

Allocated sale price of common stock = $105,000 x 0.90 = $94,500

Allocated sale price of common stock = $105,000 x 0.10 = $10,500

Common Sock is recorded separately as par value and paid-in capital excess of par as follow

Common Stock ( Par Value ) = 500 x $10 = $5,000

Common Stock ( Excess of Par ) = $94,500 - $5,000 = $89,500

Preferred Stock ( Par Value ) = 100 x $40 = $4,000

Preferred Stock ( Excess of Par ) = $10,500 - $4,000 = $6,500

7 0

2 years ago