A brochure is a professional, effective, and inexpensive way to provide information to your _____________

Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August. Three-fourths of all purchase

Savatey [412]

Answer:

The correct option is B.

Explanation:

It is given that Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August.

Purchase in July = $180,000

Purchase in August = $210,000

Three-fourths of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase.

In August, the cash disbursements for materials purchases be 3/4th of $210,000 (Purchase in August) and 1/4 of $180,000 (Purchase in July).

August's cash disbursements for materials purchases be

$Amount=\frac{3}{4}\times 210000+\frac{1}{4}\times 180000$

$Amount=157500+45000$

$Amount=202500$

The August's cash disbursements for materials purchases be $202500. Therefore the correct option is B.

4 0

3 years ago

On January 1, 2021, Bombay Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for B

tresset_1 [31]

Answer:

In 2022, Cullumber should record interest expense of $57,057.80.

Explanation:

The interest expense can be calculated using the following formula:

Interest expense = (Present value of lease payments - Annual payments at the beginning of each year) * Effective interest rate .................... (1)

Where:

Annual payments at the beginning of each year = $180,000

Present value of lease payments = $750,578

Effective interest rate = 10%

Substituting the values into equation (1), we have:

Interest expense = ($750,578 - $180,000) * 10% = $57,057.80

Therefore, Cullumber should record interest expense of $57,057.80 in 2022.

4 0

3 years ago

University Car Wash built a deluxe car wash across the street from campus. The new machines cost $213,000 including installation

djyliett [7]

Answer:

The depreciation schedule for six years is attached below.

Explanation:

8 0

3 years ago

If for a given individual, between a wage rate of $20 and $25 the ____________________ effect outweighs the ________________ eff

lakkis [162]

Answer:

Substitution Effect outweighs Income Effect ; Labour Supply Curve between wages will be upward sloping. OR :-

Income Effect outweighs Substitution Effect ; Labour Supply Curve between wages will be backward bending

Explanation:

Relationship between wage rate & labour supply can be explained by two effects :

Substitution Effect : Higher wage means more opportunity cost of leisure, so labourer would substitute leisure by working hours. This would imply increased labour supply.
Income Effect : Higher wage means more income. At higher income, consumer demands more of all goods, including leisure. So that would imply labourer preferring more leisure, decreased labour supply.

Wage rate change from $20 to $25 is a case of wage rate increase

If substitution effect > income effect, labour supply would increase as a result of wage rise ( from $20 to $25). So, the labour supply curve would be upward sloping

If income effect > substitution effect, labour supply would decrease as a result of wage rise ( from $20 to $25). So, the labour supply curve would be backward bending

5 0

3 years ago

Identify which of the following items would be reported in the balance sheet:a. Cash d. Wage expense g. Net incomeb. Sales e. Wa

djverab [1.8K]

Answer:

Items reported in the balance sheet are:

3. a, c, e, f, and h

Explanation:

a) Data and Selection:

a. Cash

b. Sales

c. Long-term debt

d. Wage expense

e. Wages payable

f. Retained earnings

g. Net income

h. Inventory

i. Cost of goods sold

a. Cash

c. Long-term debt

e. Wages payable

f. Retained earnings

h. Inventory

b) Items reported in the balance sheet are items that are assets, liabilities, or equities. These items are permanent items, which have their balances taken to the next accounting period. Non balance sheet items are reported in the income statement. They are closing or temporary items that do not have balances taken to the next period.

5 0

3 years ago

A brochure is a professional, effective, and inexpensive way to provide information to your ______________.