The AUD/$ spot exchange rate is AUD1.60/$ and the SF/$ is SF1.25/$. The AUD/SF cross exchange rate is _____. Group of answer cho
1 answer:
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The correct statement is "Hockey sticks had their prices reduced by $0. 41 more than baseball bats."
Mark down refers to a reduction in price of an item or good. The reduction is generally done as a percentage of price of the item. The purpose behind mark down is to increase sales volume.
<h3>Calculation of reduction in price:</h3>Given:
Markdown in price of baseball bats is 42%
Cost of baseball bats after markdown is $21.46
Markdown in price of hockey sticks is 29%
Cost of hockey sticks after markdown is $39.05
For calculating the amount of markdown, we need to find the original cost of baseball bats and hockey sticks.
Calculation of cost of baseball bats before markdown:
Hence the markdown in price of baseball bats is
Similarly, for hockey sticks:
Markdown in the cost of hockey sticks is .
Difference in markdown is:
Therefore it can be concluded that markdown in cost of hockey sticks is more as compared to baseball bats by $0.41
Hence the correct statement is "Hockey sticks had their prices reduced by $0. 41 more than baseball bats."
Learn more about markdown here:
Answer: See attachment and explanation
Explanation:
1. Ortiz purchased a 20% interest for $20,000.
Total capital after the admission of the partner will be:
= ($96000 - $4000) + ($40000 - $4000) + $20000
= $92000 + $36000 + $20000
= $148000
The share of new partner in the capital structure will be:
= Total capital × Interest of new partner
= $148000 × 20%
= $29600
There'll be a deficiency in the profit which the existing partner contributes to and this will be:
= $29600 - $20000
= $9600
Then each partner shares =$9600/2 = $4800
2. Ortiz purchased a 30% interest for $60,000.
Total capital after the admission of the partner will be:
= ($96000 - $4000) + ($40000 - $4000) + $60000
= $92000 + $36000 + $60000
= $188000
The share of new partner in the capital structure will be:
= Total capital × Interest of new partner
= $188000 × 30%
= $56400
Since the share is less than the amount of $60000 bought in, the existing partner will be compensated in the amount of ($60000 - $56400) = $3600. Therefore each partner gets $3600/2 = $1800
Check attachment for the journal entries.
