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3 years ago

Newell Company completed the following transactions in October:

Business

1 answer:

olasank [31]3 years ago

7 0

Answer:

a. Cash receive on Oct. 8 = $588

b. Cash receive on Oct. 16 = $1,261

c. Cash receive on Oct. 29 = $4,000

d. Cash receive on Oct. 27 = $1,176

e. Cash receive on Oct. 28 = $1,862

Explanation:

a. Oct. 8

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 8 = $600 - ($600 * 2%) = $588

b. Oct. 16

Since cash was received within 10 days, it qualified for the stated 3% discount. Therefore, we have:

Cash receive on Oct. 16 = ($1,700 - $400) - (($1,700 - $400) * 3%) = $1,261

c. Oct. 29

Since cash was received outside 10 days, it was NOT qualified for the stated 1% discount. Therefore, we have:

Cash receive on Oct. 29 = $5,000 - $1,000 = $4,000

d. Oct. 27

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 27 = ($1,400 - $200) - (($1,400 - $200) * 2%) = $1,176

e. Oct. 28

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 28 = ($2,300 - $400) - (($2,300 - $400) * 2%) = $1,862

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Answer:

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Using this formula

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3 years ago

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Answer:

-0.10

Explanation:

To calculate this, we us the formula for calculating elasticity of demand (E) relevant for the demand equation as follow:

E = (P / Q) * (dQ / dP) .............................. (1)

Where,

Q = 30

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We then substitute all the value into equation (1) and have:

-0.3 = (90 / 30) * b

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b = -0.10

Therefore, appropriate value for the price coefficient (b) in a linear demand function Q is -0.10.

NB:

Although this not part of the question, but note that how the linear demand function will look can be obtained by first solving for the constant term (a) as follows:

Q = a - 0.10P

Substituting for Q and P, we can solve for a as follows:

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4 years ago

Read 2 more answers

S Company reported net income for 2016 in the amount of $440,000. The company's financial statements also included the following

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Answer:

$619,000 and $385,500

Explanation:

In case of S company

Cash flow from Operating activities - Indirect method

Net income $440,000

Adjustment made:

Add : Depreciation expense $107,000

Less: Gain on sale of land - $148,000

Less: Increase in accounts receivable -$83,000

Add: Decrease in inventory $63,000

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Total of Adjustments $179,000

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Adjustment made:

Less: Increase in accounts receivable - $7,000 ($40,000 - $33,000)

Add: Increase in accounts payable $10,500 ($64,500 - $54,000)

Less: Increase in prepaid insurance -$8,000 ($17,500 - $9,500)

Total of Adjustments -$4500

Net Cash flow from Operating activities $385,500

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