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timama [110]
3 years ago
9

Rains Company purchased equipment on January 1 at a list price of $125,000, with credit terms2/10, n/30. Payment was made within

the discount period. Rains paid $6,250 sales tax on theequipment and paid installation charges of $2,200. Prior to installation, Rains paid $5,000 to pour aconcrete slab on which to place the equipment. What is the total cost of the new equipment
Business
1 answer:
e-lub [12.9K]3 years ago
5 0

Answer:

$135,950

Explanation:

Calculation to determine the total cost of the new equipment

Using this formula

New equipment Total cost =(List price × (100% - 2%) + Sales tax + Installation + Concrete slab)

Let plug in the formula

New equipment Total cost=[$125,000 *(100%-2%)]+ $6,250 + $2,200 + $5,000

New equipment Total cost=($125,000 *.98) + $6,250 + $2,200 + $5,000

New equipment Total cost=$135,950

Therefore the total cost of the new equipment is $135,950

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natta225 [31]
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3 years ago
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If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect _______ people t
vitfil [10]

Answer:

If the money wage rate increased from $40.00 to 45.24 and hour and consumer prices rose by 16%, we would expect _______ people to try to find a job and employed people to want to work _______ hours.

a. more; longer.

The____ would _____.

b. quantity of labor supplied; increase.

Explanation:

Generally, when wage rates increase, this will led to an increase in the inflation rate. The problem is what happens if wages increase less than the inflation rate. This means that real wages will actually decrease once we adjust them to inflation. This will cause more people trying to get a job or working longer hours just to be able to pay for the same amount of goods as before.

In this example, the wage rate increased by 13.1%, but the inflation rate increased by 16%, so real wages decreased.

8 0
2 years ago
The Federal Reserve purchases ​$8 million in U.S. Treasury bonds from a bond​ dealer, and the​ dealer's bank credits the​ dealer
Zinaida [17]

Answer:

The bank will be able to lend:

$42,105,263 ($8 million/ 0.19)

Explanation:

The above amount which the bank can lend from the $8 million received from the Federal Reserve for a customer is a function of $8 million deposit in a customer's account and the reserve ratio.  This is called the money multiplier.

The money multiplier is the amount of money that banks generate with each dollar of reserves. Reserves is the amount of deposits that the Federal Reserve requires banks to hold and not lend.  The level of Reserves and deposit liabilities determine the amount a bank can lend out.

The process by which banks create more money than the physical money is called money creation.  This shows that a bank creates more money in the economy through its lending activities.

6 0
3 years ago
They want to make a profit of $55,498 Unit Variable costs = $11 Unit selling price is = $37 Fixed costs = $18,470 How many units
belka [17]

Answer:

2,845 units

Explanation:

To find the answer you need to consider that the profit is equal to the sales minus the costs.

Let's consider that x is the number of units sold

Sales= Price per unit*number of units sold

Sales= 37x

Variable cost= Cost per unit*number of units sold

Variable cost= 11x

Fixed cost= 18,470

55,498=37x-11x-18,470

55,498+18,470=26x

73,968=26x

x=73,968/26= 2,845

According to this, the answer is that they need to sell 2,845 units to make the desired profit.

6 0
3 years ago
Red Hot Chili Peppers Co. had the following activity in its most recent year of operations.Classify the items as (1) operating—a
lora16 [44]

Answer:

a. Purchase of Equipment  - (3) investing

b. Redemption of bonds payable  - (4) financing

c. Sale of building  - (3) investing

d. Depreciation  - (1) operating—add to net income;

e. Exchange of equipment for furniture  - (5) significant noncash investing and financing activities

f. Issuance of capital stock  - (4) financing

g. Amortization of intangible assets  - (1) operating—add to net income

h. Purchase of treasury stock  - (4) financing

i. Issuance of bonds for land - (5) significant noncash investing and financing activities

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

7 0
3 years ago
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