Answer:
See explanation section
Explanation:
As there is a difference between the physical count of the inventory and actual Inventory count, it indicates that the merchandise inventory is either sold or wasted. However, for continuing the operation smoothly, it is assumed as sold. Therefore, the journal entry to record the sale is -
December - 31 Cost of goods sold Debit 45,000
($415,000 - $370,000)
Merchandise Inventory Credit 45,000
(To record the sale of merchandise: adjusted)
Answer:
b) mission statement
Explanation:
A mission statement is a formal description that captures all what a company is set out to do in achieving their vision. It is a brief summary of a company’s philosophy, goals and objectives.
A mission statement is what gives a clear direction to a business, as the purpose of a business is well clarified. A mission statement which answers the basic question of “Why does your business exist” helps in increasing employee engagement as well as ensuring the vision of the company is actualized.
The statement of Dell as highlighted in the question above is part of Dell’s mission statement, as it tells why the business exist.
Answer:
B) $12,825
Explanation:
In order to calculate the worst case scenario of sales first we need to calculate the worst case for sales of units.
The Company estimates that 5,000 units will be sold with a 10 percent plus-or-minus range. So, let calculate the worst case for the sale of units, in this case being 90% of the 5,000 unit estimate. Calculate 90% of 5,000, and this gives us 4,500 units as the worst case scenario.
To calculate the the worst case scenario for price, lets use the $3.00 per unit estimated by the Company, and apply the same concept, however, taking into account that sales price has a 5 percent plus-or minus range. So we caclulate %95 of $3.00, and this gives us $2.85 as our worst case scenario for price.
Now, we take our worst case scenario for amount of units and price:
4,500 units x $2.85 = $12,825
$12,825 is the total dollar amount for the worst case scenario of this product.
Answer:
d. $132,000
Explanation:
Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.
$100,000 + $40,000 * 80% = $132,000
Answer:
PV= $62,158.4
Explanation:
Giving the following information:
Annual payment= $6,400
Number of periods= 15 years
Interest rate= 6% = 0.06
<u>First, we need to calculate the future value using the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {6,400*[(1.06^15) - 1]} / 0.06
FV= $148,966.21
<u>Now, the present value:</u>
PV= FV/(1+i)^n
PV= 148,966.21 / (1.06^15)
PV= $62,158.4
