Answer: $730.2
Explanation:
Let the total cost of cleaning clothes = X
Other variables include:
Total cost of boxes = $6×120
=$720
Ordering cost =$3
Holding costs = (10/100 ×6)12
=$7.2
Total costs of cleaning clothes =
The cost of boxes+ordering cost+holding cost
=720+3+7.2 = $730.2
Answer: The options are given below:
A. $292,000
B. $267,250
C. $205,250
D. $275,250
The answer is D. $275,250
Explanation:
Net profit = 425,000 - 338,000 = $87,000
Common Stock =110,000 + 25,000 = $135000
Retained Earnings = 70,000 + 87,000 = $157000
Less: Dividend paid = -$16,750
We will calculate shareholders equity as follows:
Total shareholders' Equity = common stock + retained earnings - dividend paid
=> $135000 + $157000 - $16,750
= $275,250
Answer:
Debit Cost of Goods Sold $500
Explanation:
When inventory is purchased, debit inventory and credit cash or accounts payable. When inventory is sold, credit inventory (with the cost of inventory sold) and debit cost of goods sold(p/l).
Further more, sales is recognized by crediting sales account and debiting cash or accounts receivables.
As such, if original cost of the merchandise to X-Mart was $500, entries required would include a credit to merchandise inventory $500 and Debit Cost of Goods Sold $500.
Answer:
d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.
Explanation:
As for the information provided,
There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.
Thus, on the provisional basis such claims of $100,000 would have been provided ideally.
Now, after final judgement the court had cleared about the claim which is $150,000.
Thus, entry to record such claim of $150,000 will be:
Expenses A/c Dr. $50,000
Claims Payable A/c Dr. $100,000
To Cash A/c $150,000
John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand to pull the economy out of the recession..
John Maynard Keynes is an economist who was popularly known for creating the Keynesian theory of economics
The Keynesian theory of economics is one who who advocate for saving less and spending more, thereby, raising their marginal propensity to consume and economic growth.
Now, supposing that a country spiraled into economic recession, John Maynard Keynes will recommend an increase in government expenditures and lower taxes to stimulate demand and pull the economy out of the recession..
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