11.68 $ a month, i believe thats the answer, if not its pretty close...
Answer:
206,000
Explanation:
Sales = 590000
- CGS = 302000
Gross profit = 288,000
Less Operating Expenses:
Sellings and Admin expenses = 67000
Freight in = 15000
Total Operating expenses = 82000
Operating Income = 206,000
CGS = Beginning inventory + Purchases - Ending Inventory
CGS = 43,000 +302,000 - 43,000 = 302,000
Answer:
The annual annuity payment during this time at the rate of 6.50 % is $1291.67
Explanation:
Compute the annual annuity payments (PMT)
Present Value of annuity (PV) = $10538.38
Number of years (n) = 12
Rate (i) = 6.50%
![Present Value (PV) = PMT [1- (1+r)^{n} ]/r]](https://tex.z-dn.net/?f=Present%20Value%20%28PV%29%20%3D%20PMT%20%5B1-%20%281%2Br%29%5E%7Bn%7D%20%5D%2Fr%5D)
![10538.38 = PMT [1- (1+0.0650)^{-12} ]/0.0650](https://tex.z-dn.net/?f=10538.38%20%3D%20PMT%20%5B1-%20%281%2B0.0650%29%5E%7B-12%7D%20%5D%2F0.0650)
![Annual Annuity Payments = 0.0650*10538.38/[1- (1+0.0650)^{-12} ]](https://tex.z-dn.net/?f=Annual%20Annuity%20Payments%20%3D%200.0650%2A10538.38%2F%5B1-%20%281%2B0.0650%29%5E%7B-12%7D%20%5D)
Annual Annuity Payments = $1291.67
An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity cannot be detennined
<h3>What is
equilibrium price?</h3>
In economics, economic equilibrium is a state in which economic forces such as supply and demand are balanced and the values of economic variables do not change in the absence of external influences.
Equilibrium is the economic condition in which market demand and market supply are equal to each other, resulting in price stability. Normally, when the supply of goods and services exceeds the demand over time, the price falls, resulting in more demand.
Microeconomic and macroeconomic equilibrium are two types of economic equilibrium. Supply and demand between buyers and sellers are balanced in microeconomics. An economy achieves aggregate demand and aggregate supply balance through macroeconomics. Competitive prices are an essential component of the theory.
To know more about equilibrium price follow the link:
brainly.com/question/22569960
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Answer:
$49,690 credit balance
Explanation:
total credit sales = $590,000
past due up to 180 days = $110,000
past due for more than 180 days = $79,000
Crimson expects to not collect:
- 3% of credit sales not due yet = $590,000 x 3% = $17,700
- 14% of credit sales past due up to 180 days = $110,000 x 14% = $15,400
- 21% of credit sales past due for more than 180 days = $79,000 x 21% = $16,590
- total = $49,690
Allowance for uncollectible amounts has $3,500 debit balance
the adjusting entry should be:
Dr Bad debt expense 53,190
Cr Allowance for uncollectible accounts 53,190
The ending balance = $53,190 - $3,500 = $49,690
