Solve the equation.5x+7-3x=-10

Surist, Inc. purchased merchandise for $300,000, received credit for purchase returns of $20,000, availed purchase discounts of

Rufina [12.5K]

Answer:

Ending inventory balance........................$497,000

Explanation:

If Surist, Inc. purchased merchandise for $300,000, and received credit for purchase returns of $20,000, and was availed purchase discounts of $5,000, and paid transportation in of $12,000. If Surist, Inc. had $30,000 in beginning inventory, and sold goods costing $180,000, Then the ending inventory balance can be derived as:

Beginning inventory....................................$30,000

Add: Purchases of merchandise ......... $300,000,

Less: Purchase returns of ........................($20,000)

Less: Purchase discounts of .....................($5,000)

Add: Paid transportation of .......................$12,000.

Less: Cost of Goods Sold....................... ($180,000)

Ending inventory balance........................$497,000

7 0

2 years ago

On January 1, Year 1, Melas Corporation purchased a machine from Wade, Inc. by issuing a 4%, $360,000, three-year note that requ

Semenov [28]

Answer:

$1,045.05

Explanation:

If a Note is issues below the face value, it is issued on discount. This discount is recorded and amortized on Note's period to maturity. This amortized Discount will be added to the the coupon payment to calculate the interest expense for the year.

Discount on Note = $360,000 - $340,497 = $19,503

Amortized Discount = $19,503 / 3 = $6,501

Interest Expense = Coupon Payment + Amortized Discount = ($360,000 x 4%) + $6,501 = $20,901 per year = $1,045.05 per six month

5 0

2 years ago

Here is an example in the lecture. An American sales manager newly posted to Japan. He cancelled an early morning meeting since

koban [17]

Answer:

sales representatives are motivated mostly by peer pressure brought by early morning meeting, which is due to high collectivism

Explanation:

By cancelling the meeting, sales representatives would have reduced motivation to get clients. The meeting is a source of motivation to the sales representatives.

7 0

2 years ago

The manufacturing capacity of Susil Company's facitilites is 30,000 untis of product a year. A summary or operating results for

NISA [10]

Answer:

Operating Income will increase for 225,000

Explanation:

The company will sale 15,000 units at 90

The unit cost is 55

The capacity is 30,000

This order is for 15,000

Leaving 15,000 for regular local business

currently the local sales are 18,000

So it will decrease by 3,000

Putting those numbers together we arrive to the conclusion:

$\left[\begin{array}{cccc}&$Units&$Cost&$Total\\$Special Order&15,000&90&1,350,000\\$Variable Cost&15,000&-55&-825,000\\$rejected local&-3,000&100&-300,000\\$Net Income&&&225,000\\\end{array}\right]$

Even with the decrease in local business sales, it is better to accept the foreing distributor offer.

8 0

2 years ago

During Year 1, Long Beach Corporation completed the treasury stock transactions described below: Jan. 2 Reacquired 1,000 shares

svet-max [94.6K]

Answer:

Cash A/c Dr. 400 $\times$ $12 = $4,800

To Treasury Stock A/c 400 $\times$ $10 = $4,000

To Additional Paid In Capital 400 $\times$ $2 = $800

(Sale of treasury stock, on premium of $2)

Explanation:

When originally the treasury stock was purchased then the entry would be:

Treasury Stock A/c Dr. 1,000 $\times$ $10

Cash A/c $10,000

Recording purchase of treasury stock.

Now when the stock is sold for $12 each, then the amount of $2 = $12 - $10 = Additional Paid in Capital.

Therefore entry will be:

Cash A/c Dr. 400 $\times$ $12 = $4,800

To Treasury Stock A/c 400 $\times$ $10 = $4,000

To Additional Paid In Capital 400 $\times$ $2 = $800

Sale of treasury stock, on premium of $2

4 0

2 years ago