Payroll records show employee earnings and any deductions from those earnings. True False

Ending Inventory On January 1, Pope Enterprises' inventory was $625,000. Pope made $950,000 of net purchases during the year. On

Marysya12 [62]

Answer:

Closing Inventory = $550000

Explanation:

The cost of the closing inventory at December 31 can be calculated by taking the trading part of the income statement where we calculate the cost of the goods sold. The cost of the goods sold is the cost associated with the sale of goods made during the year. The cost of the goods sold is calculated as follows,

Cost of Goods sold = Opening Inventory + Purchases - Closing Inventory

Plugging in the values of Cost of goods sold, opening inventory and purchases, we can calculate the closing inventory.

1025000 = 625000 + 950000 - Closing Inventory

Closing Inventory = 1575000 - 1025000

Closing Inventory = $550000

3 0

3 years ago

On January 1, 2018, Gemini Corporation leased equipment under a finance lease designedto earn the lessor a 12% rate of return fo

Temka [501]

Answer:

14,23,856

Explanation:

Gemini will record the right of use asset at NPV and NPV can be calculated by by multiplying the annual lease payment with th

discount factor after adding maintainance and insurace cost.

Year Lease Payment Maintainance Insurance Factor PV

1 2,25,000 15,000 12,000 0.8929 225,000

2 2,25,000 15,000 12,000 0.7972 200,893

3 2,25,000 15,000 12,000 0.7118 179,369

4 2,25,000 15,000 12,000 0.6355 160,151

5 2,25,000 15,000 12,000 0.5674 142,992

6 2,25,000 15,000 12,000 0.5066 127,671

7 2,25,000 15,000 12,000 0.4523 113,992

8 2,25,000 15,000 12,000 0.4039 101,779

9 2,25,000 15,000 12,000 0.3606 90,874

10 2,25,000 15,000 12,000 0.3220 81,137

Present Value 1,423,856

Gemini will record the right of use at 1,423,856

3 0

4 years ago

I. Wages paid of Rs.500 for installation of machinery was posted into wage account.

anygoal [31]

I dont get it what is the meaning

8 0

4 years ago

If you have a total consumption budget, what should you do to ensure you have enough money saved for emergencies and meeting lon

JulijaS [17]

If you have a total consumption budget for each month, then at least consumption budget of between three to six months should be put in your emergency fund account to cater for financial dilemma which may occur at any time due to loss of job or other factors. After this, you can now start saving toward long term goals by saving at least 10% of your income.

8 0

4 years ago

Read 2 more answers

Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.3 cus

S_A_V [24]

It is recommended to use one consultant with an average service time of 8 minutes/customer.

The total cost for the first scenario where there is one consultant with an average service time of 8 minutes per customer is $ 29.05

The total cost for the second scenario where there are two consultants with an average service time of 10 minutes per customer is $ 49.16

Explanation:

Given,

Average customer arrival = λ =2.3 customers/hour

Average consultant time1 = μ = 8 minutes/customer

Average consultant time2 = μ = 10 minutes/customer

Cost of consultants service = $18

Cost of customer waiting time = $25

Convert the average consultant time to hours/customer

Average consultant time1 = μ = 60/8 = 7.5 hours/customer

Average consultant time2 = μ = 60/10 = 6 hours/customer

Single consultant queuing model:

Calculations for one consultant

Average no. of customers waiting for service = Lq = λ²/μ(μ-λ)

Average no. of customers waiting for service = Lq = (2.3)²/7.5(7.5 - 2.5)

Average no. of customers waiting for service = Lq = 0.1356

Average no. of customers in the system = L = Lq + λ/μ

Average no. of customers in the system = L = 0.1356 + 2.3/7.5

Average no. of customers in the system = L = 0.442

Total cost = (customer waiting time cost)*L + consultant service cost

Total cost = $ 25 $\times$ 0.442 + $ 18

Total cost = $ 29.05

Multi consultant queuing model:

Calculations for two consultants

Average no. of customers waiting for service,

Lq = ((λ/μ)^k(λμ)/(k -1)(kμ - λ)) $\times$ P₀

Where k = 2 is the number of consultants and P₀ is the probability that all of the k consultants are idle. The value of P₀ can be found in the tables with λ/μ = 2.3/6 = 0.38 and k = 2, P₀ ≅ 0.685

Average no. of customers waiting for service,

Lq = (2.3/6)²(2.3 $\times$ 6) / (2-1)(2 $\times$ 6 - 2.3) $\times$ 0.685

Average no. of customers waiting for service = Lq = 0.1431

Average no. of customers in the system = L = Lq + λ/μ

Average no. of customers in the system = L = 0.1431 + 2.3/6

Average no. of customers in the system = L = 0.5264

Total cost = (customer waiting time cost)*L + consultant service cost

Total cost = $25 $\times$ 0.5264 + ($18) $\times$ 2 (since there are 2 consultants now)

Total cost = $ 49.16

3 0

3 years ago