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Dmitry_Shevchenko [17]
3 years ago
5

Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,4

00 Finished goods inventory, April 30 26,400 Total cost of goods manufactured 122,900 The cost of goods sold for the year is:
Business
1 answer:
nataly862011 [7]3 years ago
3 0

Answer:

$128,900

Explanation:

Cost of goods sold calculation

Opening Finished goods inventory                  $32,400

Add cost of goods manufactured                    $122,900

Less Closing Finished goods inventory          ($26,400)

Cost of goods sold                                            $128,900

therefore,

The cost of goods sold for the year is $128,900.

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The salesperson was using question opening in this scenario.

Explanation:

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Buying insurance and investing in the future requires spending less in the present. Why is this a hard choice for many people? W
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Today, jennifer earns $55000 at her first job. her mom used to make $15,000 at her first job in 1975. jennifer is of the opinion
r-ruslan [8.4K]

Answer:

Jennifer's current salary would be worth more in 1975 than her mom's salary.

Explanation:

You need to calculate Real Income, which is income adjusted for inflation using the CPI from a different year. Formula:

(Current Year Salary * CPI from different year)/ (CPI from current year)

(55,000 * 82)/ (234)

4,510,000 / 234 = $19,273.50

Jennifer's current salary was worth $19,273.50 in 1975 dollars, which is more than the $15,000 her mom made.

8 0
2 years ago
Keesha Co. borrows $200,000 cash on November 1 of the current year by signing a 90-day, 9%, $200,000 note. 1. On what date does
nalin [4]

Answer:

Explanation:

1. The maturing date of note will be 30 January 2019

( 29 days in November + 31 Days in December and 30 Days in January)

2. The interest expense would be

On this year:

= Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $200,000 × 9% × (60 days ÷ 360 days)

= $3,000

( 29 days in November + 31 Days in December)

3. On next year:

= Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $200,000 × 9% × (30 days ÷ 360 days)

= $1,500

(30 Days in January)

We assume 360 days in a year.  

4. (A) Cash A/c Dr $200,000  

             To Notes payable A/c $200,000  

(Being note is issued for cash)

(B) Interest expense A/c Dr $3,000

          To Interest payable A/c $3,000

(Being accrued interest adjusted)

(C) Interest expense A/c Dr $1,500

    Interest payable A/c Dr $3,000

    Notes payable A/c Dr $200,000

                             To Cash A/c $204,500

(Being cash is paid on maturity)

3 0
3 years ago
Assume the United States has the following import/export volumes and prices. It undertakes a major "devaluation" of the dollar,
nika2105 [10]

Answer:

The pre-devaluation trade balance is -$880 while the post-devaluation trade balance is -$1,398.4.

Step-by-step Explanation:

Step 1: Value Assumptions

Assuming the following import/export volumes and prices:

Initial spot exchange rate ($/fc)                    2

Price of exports, dollars                                20

Price of imports, foreign currency (fc)          12

Quantity of exports, units                              100

Quantity of imports, units                              120

Percentage devaluation of the dollar           18%

Price elasticity of demand, imports               -0.9

Step 2: Calculation of Pre-Devaluation Trade Balance

Revenue from exports = Quantity of exports x Price of exports

                                      = 100 x $20

                                      = $2,000

Expenditure on imports = Quantity of imports x Price of imports x Initial spot exchange rate

                                       = 120 x $12 x 2

                                       = $2,880

Pre-devaluation trade balance = Revenue from exports - Expenditure on imports

                                                  = $2,000 - $2,880

                                                  = -$880

Step 3: Calculation of Post-Devaluation Trade Balance

Revenue from exports = Quantity of exports x Price of exports

                                      = 100 x $20

                                      = $2,000

Expenditure on imports = Quantity of imports x Price of imports x New spot exchange rate

                                       = 120 x $12 x 2(1.18)

                                       = $3,398.4

Post-devaluation trade balance = Revenue from exports - Expenditure on imports

                                                   = $2,000 - $3,398.4

                                                   = -$1,398.4

5 0
3 years ago
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