Answer:
c. $141.78
Explanation:
CPI or consumer price index is a measure that examines the weighted average of prices of a basket of consumer goods and services.
We will calculate the price of $100 baby shower gift in 2018 by,
Amount in 2018 Dollars = Amount in 2001 Dollars × (Price Level in 2018 / Price Level in 2001)
= $100×(251.1/177.1) = $141.78
It would cost $141.78 to buy a similar amount of goods and services in 2018.
Caroline was playing with a slide, tunnel, teddy bear, panda, doll and a goldfish.
<u>Explanation</u>:
- In her childhood days, her mother will take her to the park, beach. Caroline will enjoy those days. She will play with many toys and she will not give it to anyone.
- Caroline will play in the zoo and she will enjoy that place. She will play with a teddy bear, goldfish, slides, tunnel, panda, and a doll. A nursery school was built for caroline. She will play in the evening at the school.
Answer:
$354,500
Explanation:
First find the amount invested ie the Present Value as follows :
n = 25 × 2 = 50
i = 5%
P/yr = 2
Pmt = $0
Fv = $500,000
Pv = ?
Using a Financial Calculator to enter the amounts as above, the Present Value is $145,471
Total Interest = Future Value - Present Value
= $500,000 - $145,471
= $354,529
Thus interest is $354,500 (nearest hundred dollars).
Answer: d. Go to Tom's as soon as possible that day, check the shipment to see if there are any undamaged goods that can be put on the shelf, take a replacement order from Tom's manager, and phone in the order immediately.
Explanation:
This indeed would be the best course of action because some of the goods will be saved while at the same time increasing your company's relationship and profile with Tom's Discount Store.
This is because Tom will be very pleased at the prompt and personal response to the situation and be more receptive towards the solution.
Once the items that are damaged are identified, placing a replacement order immediately is in line with your company's policy of returning goods over $500 if a reciprocal order is placed immediately.
With this course of action, you would endear your company to Tom's Discount store as well as manage to sell the goods in total.
Answer:
The accounts receivable amount expected to be collected after the write-off entry was $390,500.
Explanation:
Account Receivable Balance = $423,000
Less: Allowance Account Balance = $32,500
New Account Receivable Balance = $390,500
Since the write off entry was not made and there is an account for allowance of uncollectible account so at that the entry was made as follows:
Debit: Account Receivable $32,500
Credit: Uncollectible account expense $32,500
To record uncollectible expense.
Since we are certain that $32,500 will not received and recorded as bad debt so we simply deduct this amount from account receivable balance to derive new balance as shown above.