Answer:
$24,550
Explanation:
Computation for the estimated cost of the ending inventory
Net Sales = $415,000
Gross Profit rate= 37%
Cost of goods Sold = 100%- 37% = 63%
Cost of Goods Sold =$415,000*63% = $261,450
Cost of Goods Available for sale = $286,000
Using this formula
Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold
Let plug in the formula
Estimated Cost of Ending Inventory = $286,000-$261,450
Estimated Cost of Ending Inventory = $24,550
Therefore the estimated cost of the ending inventory is $24,550
Answer:
Dividend = $2.34
Explanation:
Purchase Price = $55.20
Loss on stock = 18.63% of $55.20 = $10.28
Capital Loss = $12.62
Dividend = Capital Loss - Total Loss
Dividend = $12.62 - $10.28
Dividend = $2.34
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Answer:
$6400 bonus paid to Partner
Explanation:
Equity of Burns =$79000
Van Ness contribution =$43000
Total equity after van ness contribution = $79000+$43000
=$122000
Van Ness equity interest = 30% of $122000
=$36600
Partner bonus = Van Ness contribution - Van Ness equity interest
= $43000 - $36600
= $6400 bonus paid to partner
Answer:
penalty clause
Explanation:
A penalty clause is a provision included in the contract that requires any breaching party to compensate the other party for any damages produced by the breaching of the contract.
In this case, the penalty provision establishes a $10 million payment if any of the parties breaches the contract. That payment must be done to compensate for any damages suffered by the non-breaching party.
