Two obstacles you may face in your attempt to achieve your goals

Bob's Clothing Shop's inventory at cost was $30,000 on January 1. Its retail value is $42,000. During the year, Bob's Clothing S

DENIUS [597]

Answer:

Ending Inventory = $55,000

Explanation:

Particular Cost price Retail price

Opening Inventory $30,000 $42,000

Add: Additional Purchases $196,000 $368,000

Cost of Goods Available for Sale $226,000 $410,000

Cost to Retail Ratio: 55 %

Less: Net Sales $310,000

Ending Inventory $55,000 $100,000

Note:

Cost to Retail Ratio = $226,000 / $410,000

Cost to Retail Ratio = 55% (Approx)

6 0

3 years ago

Juan wants to start a lemonade stand to earn money. he needs money to purchase the materials before he can sell the lemonade and

wolverine [178]

Juan needs to spend $3 from his pocket to start the lemonade stand to earn money.

To start the lemonade stand, Juan needs to purchase materials before selling his product and earning money. For this he needs money. His mother agreed to give him $10 as a loan to start a lemonade stand. To purchase the required item, he made a list of items to buy:

Cups $2
Lemon $8
Sugar $3

Add all the supply item prices to know how much money he required.

So

Price of cups + price of Lemon + Price of sugar

=$2 + $8 + $3 = $13.

He needs $13 to start the lemonade stand.

But his mother give him $10 as a loan, now the required money is

$13-$10=$3.

Juan needs to invest $3 from his pocket to start the lemonade stand and earn money.

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4 0

2 years ago

Assume that the risk-free rate is 8 percent, the required rate of return on the market (or an average-risk stock) is 13 percent,

LenKa [72]

Answer:

22.7 %

Explanation:

We can solve two of the problems using Capital Asset Pricing Model (CAPM) which is as follows:

Ra= Rf + (Rm-Rf)*B

Where,

Ra= Rate of return on stock

Rm= Rate of return on market

Rf= Risk Free rate

B= Beta coefficient of stock

Now we can move for your problem

Prob1) Ra= .15, Rf= .08, Rm= .13, B= ?

.15=.08+(.13-.08)B

Therefore, beta Coefficient = 1.4

Prob2: Ra= ?, Rf= .04, Rm= .15, B=1.7

= .04+(.15-.04)*1.7

Therefore, Ra=0.227 = 22.7 %

4 0

3 years ago

Closing entries are necessary for a. permanent accounts only.

soldi70 [24.7K]

Closing entries are necessary for temporary accounts only.

A closing entry involves shifting data from temporary accounts on the income statement to permanent accounts on the balance sheet. This closing entry is a journal entry which is made at the end of the accounting period.

The temporary accounts include expenses, revenue, dividends, and so these accounts are to be closed at the end of the accounting year. Thus, the purpose of closing entry is to reset the temporary account balances to zero on the general ledger.

Hence, temporary accounts are used to record accounting activity during a specific period of time.

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7 0

2 years ago

Keisha Tombert, the bookkeeper for Washington Consulting, a political consulting firm, has recently completed a managerial accou

Mekhanik [1.2K]

Answer:

The relevant costs to go into this schedule of cost of contract services performed will be those that are directly related to contract work.

Administrative costs are not to be included in the schedule but will instead go to the Income statement.

8 0

3 years ago