Answer:
The answer is 14%
Explanation:
Formula for Future value (FV) FV = PV (1+ni)
Whereas FV= Future value, PV = present value, n= number of years, i= TVOM in percentage
Rearranging the formula for i
i = (FV/PV)-1
So, i = (5,700/5,000)-1
i = 1.14-1
i = 0.14
i = 14%
(0.14x100=14%)
Answer:
Explanation:
a. General Journal
1
Dr Cash $27,500
Cr Common Stock $27,500
2
Dr Merchandise Inventory $22,000
Cr Cash $22,000
3
Dr Cash $ 30,500
Sales $ 30,500
4
Dr Cost of goods sold $ 15,600
Merchandise Inventory $ 15,600
c)
Income Statement
For the year ended December 31,Year 1
Sales $ 30,500
Cost of good sold $ 15,600
Gross Margin $ 14,900
d)
Cash Flow from Operating Activities:
Purchase of Inventory ($22,000)
Cash Sales made $ 30,500
Cash Flow from Operating Activities $8,500
Answer:
1. Start your own business;
2.Take over a family-owned business.
3. Buy a franchise.
4. Buy an existing operating business.
Answer:
$67.2
Explanation:
With regards to the above,
Total unit cost = $15 + $9 + $6 + $8 + $4 + $6 = $48
Target selling price = Total unit cost × (1 + mark up)
Since markup percentage is 40% or 0.40
Therefore,
Target selling price = $48 × (1 + 0.4)
= $48 × 1.4
= $67.2
Therefore the target selling price is $67.2
