I need help please. I just need verification if these are the right answers- if not, then please correct me.

The balance of Morgan, Capital at the beginning of the year and the end of the year was $ 45,000 and $ 70,000, respectively. T

Anna35 [415]

Answer:

$48,000

Explanation:

Given that,

Ending owner's equity = $70,000

Beginning owner's equity = $45,000

Owner's withdrawals = $23,000

There were no new capital contributions during the year.

Net income (loss):

= Ending owner's equity - Beginning owner's equity + Owner's withdrawals

= $ 70,000 - $ 45,000 + $ 23,000

= $48,000

Therefore, the net income for the year is $48,000.

6 0

3 years ago

Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7

yarga [219]

Answer:

(A)

we are given for last year

cost of goods sold was $7.5 million and inventory was $1.5 million

firstly , we will find average cost of sold good on week basis

=cost of goods / total number of weeks in a year

so, we get

average cost of sold good on week basis as :

=\frac{7.5}{52}= 0.1442 million

now, we can find weeks supply

Weeks supply=Investment in inventory/ Average cost of sold good on week basis

week supply = 1.5/0.1442 =10

so, week supply = 10 ...........Answer

(B)

we are given for this year

cost of goods sold is $8.6 million and inventory investment is $1.6 million

firstly , we will find average cost of sold good on week basis

=cost of goods / total number of weeks in a year

so, we get

average cost of sold good on week basis as :

=\frac{8.6}{52}= 0.1654 million

now, we can find weeks supply

Weeks supply=Investment in inventory/ Average cost of sold good on week basis

week supply = 1.6/0.1654 =10

so, week supply = 10 ...........Answer

(C)

yes , reduced by 7%

6 0

3 years ago

The Hot Dog Shack wants to raise $1.2 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 per

Bad White [126]

Answer:

6.75%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.

The NPER represents the time period.

Given that,

This is correct Present value = $976.87

Assuming figure - Future value or Face value = $1,000

PMT = 1,000 × 6.5% = $65

NPER = 15 years

The formula is shown below:

= Rate(NPER,PMT,-PV,FV,type)

The present value come in negative

So, after solving this, the answer would be 6.75%

7 0

3 years ago

Many phone fraud scammers are especially cunning because they approach the target to try to sell _____.

MrMuchimi

Answer: A. improved computer security programs

Lots of people lose money due to phone fraud scammers. They try to approach the target to sell improved computer security programs. They do lots of ways to convince you to the point of asking you to give personal information. If you happen to meet one, say no.

7 0

3 years ago

Read 2 more answers

Taylor Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's s

Gelneren [198K]

Answer:

The right answer is Option (D).

Explanation:

According to the Scenario, the given data is:

Standard cost : $14.80 / hour

Total working hour: 22,000 hour

Total units : 10,900 units

working hour for a single unit: 2 hours/unit

So, the direct-labor efficiency balance can be calculated as:

Direct-labor efficiency variance = Standard Cost × ( Total working hour - Standard working hour )

Where, Standard working hour = total units × working hours per unit

= 10900 × 2 = 21800 hours

So, Direct-labor efficiency variance = 14.80 × ( 22000 - 21800 )

= 14.80 × 200 = 2960 ( unfavorable )

Hence the correct answer is option (D).

6 0

3 years ago

Read 2 more answers