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stepladder [879]
2 years ago
7

B. Lopez Company reports unadjusted first-year merchandise sales of 221,000 and cost of merchandise sales of $64,000. The compan

y expects future returns and allowances equal to 5% of sales and 5% cost of sales. The year-end adjusting entry to record the cost side of sales returns and allowances is:
Business
1 answer:
Annette [7]2 years ago
3 0

Answer: See explanation

Explanation:

The year-end adjusting entry to record the cost side of sales returns and allowances will be:

Dr Inventory Return estimated $3200

Cr Cost of goods sold $3200

(To record expected coat of returns)

Note that the above calculation was done as:

= $64,000 × 5%

= $64,000 × 0.05

= $3200

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If the managers of HHH Enterprises were to commit to an investment project under consideration, they would obtain 40% of the mon
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Answer:

D. 9.44%

Explanation:

The computation of the weighted average cost of capital is shown below:

Weighted average cost of capital is

= Cost of debt × (1 - tax rate) × weight of debt + cost of equity × weight of equity

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= 9.44%

Hence, the weighted average cost of capital is 9.44%

Therefore the right option is D.

6 0
3 years ago
The term ___________ is a popular way to describe the recession-expansion pattern followed by the economy.
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3 years ago
"Mrs. Smith operates a business in a competitive market. The current market price is $8.10. At her profit-maximizing level of pr
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Answer:

Mrs.Smith should continue to operate the business in the short run but shut down in the long run.

Explanation:

According to the shut down rule, at the profit-maximizing positive level of output, a business in a competitive market should continue to operate in the short-term if the price equals to or is greater than the average variable cost, but should shut down in the long term if the price is less than or equal to total cost. Here,

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8 0
3 years ago
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GREYUIT [131]

Answer:

d. BD 2,500

Explanation:

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Depreciation in Year 3 = BD 2,500

6 0
3 years ago
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