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3 years ago

HS 101 Intro to Economics Quiz

Business

1 answer:

dem82 [27]3 years ago

7 0

Answer:

1. B

2. A

3. B

4. C

5. B

6. A

7. D

8. C

9. B

10. A

11. A

12. C

13. D

14. B

15. B

16. C

17. A

18. B

19. A

20. D

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North Company has completed all of its operating budgets.The sales budget for the year shows 50,600 units and total sales of $2,

atroni [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The sales budget for the year shows 50,600 units and total sales of $2,317,800.

The total unit cost of making one unit of sales is $22.

Selling and administrative expenses are expected to be $304,000.

Income taxes are estimated to be $270,180.

Income statement:

Sales= 2,317,800

COGS= (22*50,600)= (1,113,200)

Gross profit= 1,204,600

Selling and administrative= (304,000)

Tax= (270,180)

Net operating profit= $630,420

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3 years ago

CSU Co. just paid a dividend of $1.4 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent

boyakko [2]

Answer:

$16.93

Explanation:

Current stock price = dividend ( 1 + growth rate) / required return - growth rate

$1.4(1.04) / 0.126 - 0.04 = $16.93

8 0

3 years ago

The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,00

irga5000 [103]

Answer:

the inventory should be recorded at $8,500

Explanation:

As we know that according to GAAP, the inventory should be recorded at a cost or net realizable value whichever is lower

So as per the question

Historical cost is $12,000

And, the net realizable value is

= Expected selling price - expected selling cost

= $9,000 - $500

= $8,500

So, the lower cost is $8,500

Hence, the inventory should be recorded at $8,500

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3 years ago

There is a tenants' meeting in an apartment complex. Who goes to that meeting?

jarptica [38.1K]

The tenants go to the meeting

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3 years ago

The cash records of Oriole Company show the following. For July: 1. The June 30 bank reconciliation indicated that deposits in t

inysia [295]

Explanation:

a. Deposit in Transit at July 31 = Deposit in Transit, June 30 + Deposit as per Cash Book – Deposits as per Bank Book

= $690 + $17,970 - $15,770

= $2,890

b. Outstanding Checks at July 31 = Outstanding Checks at June 30 + Checks issued as per Cash Book – Checks cleared as per Bank Book

= $930 + $19,160 - $16,800

= $3,290

c. Deposits in Transit at August 31 = Deposits as per Bank Statement – Deposits as pr Books + Deposits in Transit, September 30

= $26,750 - $26,340 + $2,810

= $3,220

d. Outstanding Checks at August 31 = Checks cleared by Bank – Cash Disbursements as per Books + Outstanding Checks, September 30

= $24,370 - $23,030 + $2,440

= $3,780

8 0

3 years ago