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aalyn [17]
2 years ago
13

Financial Statements of ABC Corp. indicates that ending inventory levels in 2005 and 2006 were $200,000 and $350,000 respectivel

y. Cost of Goods sold for 2005 and 2006 were $1,900,000 and $2,200,000 respectively. Purchases in 2006 were:
Business
1 answer:
ad-work [718]2 years ago
3 0

Answer:

Cost of goods purchased= $2,350,000

Explanation:

Giving the following information:

Beginning inventory 2006= ending inventory 2005= $200,000

Ending inventory 2006= $350,000

COGS 2006= $2,200,000

<u>To calculate the purchases for 2006, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

2,200,000 = 200,000 + cost of goods purchased - 350,000

2,200,000 - 200,000 + 350,000 = cost of goods purchased

cost of goods purchased= $2,350,000

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a car is purchased for $43,000. each year it loses 25% of its value. after how many years will the car be worth $9200 or less? (
Snowcat [4.5K]

After a car is purchased at $43000 and looses 25% worth every year then the car will be worth $9200 or less after four(4) years.

What does Purchase mean?

Purchase is a term used to refer to the acquisition of goods or services in exchange for money. It is a common business transaction and can involve buying something outright or entering into an agreement to pay for it over time.

What does Services mean?

Services is a broad term that refers to any type of work or activity performed to meet the needs of a customer. Services can range from professional services like accounting or consulting to tangible products like food or clothing. Services are typically intangible in the sense that they cannot be touched, felt, or seen, but the benefits they provide are very real.

As per the price of the car which is $43,000  and it looses 25% each year which is $10750. From this we come to know that the car will  be worth of $9200 or less within 4 years.

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5 0
1 year ago
Zirconia Fantasy sells only necklaces. 8 comma 000 units were sold resulting in $ 240 comma 000 of sales​ revenue, $ 60 comma 00
Naya [18.7K]

Answer:

$66,667

Explanation:

Contribution margin = Sales Revenue - Variable cost = 240000-60000 = 180000

Percentage of contribution margin = Contribution margin / sales revenue = 180000 / 240000 = 75%

Breakevent point in total sales = Fixed costs / Percentage of contribution margin

= 50000/0.75 = $66,667

3 0
3 years ago
Melody and Todd are married and have employee wages of $250,000 each in 2019. They have no other income. How much additional 0.9
sasho [114]

Answer:

$1,350

Explanation:

The computation of the amount pay or received as a refund at the time of filing the income tax return for the year 2019 is shown below:

As we know that

The Medicare tax rate is 1.45% till $200,000

And, if it is above $200,000 than 2.35% is charged (1.45% + 0.9%)

Now

For individually calculated,

Melody = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

Todd = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

So, the total is

= $4,075 + $4,075

= $8,150

Now if they filling their joint return so

Total salary is $500,000   ($250,000 × 2)

Medicare upto $250,000 = $3,625 ($250,000 × 1.45%)

for remaining $250,000 = $5,875 ($250,000 × 2.35%)

So, the Total is

= $3,625 + $5,875

= $9,500

Now the refund is

= Joint return - individually return for each one

= $9,500 - $8,150

= $1,350

4 0
3 years ago
Trent and kim divorced on september 1, 2017. as part of the divorce decree, beginning in september, trent was to make payments t
Ymorist [56]
What is an alimony? By the end of the the four months, in all, he owes $14,000 I am pretty sure
5 0
3 years ago
Sales-Related and Purchase-Related Transactions Using Perpetual Inventory SystemThe following were selected from among the trans
sveticcg [70]

Answer:

Nov 3

Inventory 64,000

Account Payable 64,000

Nov 4

Cash 40,080

Sales Revenue 40,080

COGS 24,580.5

Inventory 24,580.5

Nov 5

Inventory 51,620

Account Payable 51,620

Nov 6

Account Payable 13,600

Inventory 13,600

Nov 8

Account Receivable 14,830

Sales Revenue 14,830

COGS 9,240.13

Inventory 9,240.13

Nov 14

Account Payable 50,400 (64,000-13,600)

Inventory 1,008 (50,400 x 2%)

Cash 49,392(50,400-1,008)

Nov 14

Account Receivable 231,020

Sales Revenue 231,020

COGS 135,490.15

Inventory 135,490.15

nov 23

cash 14,830

account receivable 14,830

Account Payable 51,620

Inventory 1,016 (50,800 x 2%)

Cash 49,784(51,620-1,016)

nov 24

Account Receivable 53,800

Sales Revenue 53,800

COGS 37,340.28

Inventory 37,340.28

nov 28

credit card charge expense 3,690.3

cash 3,690.3

nov 28

sales return and allowance 5,610

cash 5,610

Inventory 2,990

COGS 2,990

5 0
3 years ago
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