Answer:
Net Income 180,000
Explanation:
The net income will be calculate by subtracting the expenses from the sales revenue of the firm
Sales revenue 500,000
Cost of goods sold (200,000)
Gross Profit 300,000
Operating expenses
Supplies expense (20,000)
Wages expense (100,000)
Net Income 180,000
Answer:
Purchase= 14,500 pounds
Explanation:
Giving the following information:
the total pounds needed for production in the current period is 14,000. Beginning inventory= 2,000 pounds
Desired ending inventory= 2,500 pounds
To calculate the direct material purchase, we need to use the following formula:
Purchase= direct material for the period + desired ending inventory - beginning inventory
Purchase= 14,000 + 2,500 - 2,000
Purchase= 14,500 pounds
Answer:
Date Account Details Debit Credit
Sept. 30, 2020 Accounts Receivable $5,000
Sales $5,000
Date Account Details Debit Credit
Sept. 30, 2020 Cost of Goods Sold $2,000
Inventory $2,000
Answer:
a. The Fed intervened in the foreign exchange market and sold dollars.
When the Fed intervenes and supplies dollars in the foreign exchange market, the amount of dollars in the market will rise and the law of supply and demand concludes that when the supply of something increases relative to its demand, it will lose value. The US$ will therefore lose value.
c. People began to expect that the U.S. dollar would depreciate.
If people expect the US$ to depreciate, they will take action to protect themselves from this depreciation by selling off their dollar assets for instance. This would lead to excess dollars in the market which would then lead to the US$ depreciating as explained above.
