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Elanso [62]
3 years ago
7

Jed goes to the deli to purchase turkey that costs $6.71 per pound. State regulations indicate that the scale used in the deli m

ust be accurate to within 1 20 pound. According to the scale, Jed's purchase weighs one-fourth pound and costs $1.68. How much might he have been undercharged or overcharged due to a scale error
Business
1 answer:
Neporo4naja [7]3 years ago
5 0

Answer:

$0.333

Explanation:

Given :

Price per pound = $6.71

Accuracy should be within 1/20 pound

Weight of Purchase = 1/4 pound

Cost of purchase = $1.68

Since accuracy is within 1/20 pound ;

The weight of purchase will be within :

(1/4 - 1/20 ; 1/4 + 1/20)

(0.2 ; 0.3)

The weight of purchase would be within (0.2 ; 0.3) including factoring in the accuracy level.

Price per pound = $6.71

If weight is 0.2 pounds ; ($6.71 * 0.2) = 1.342

If weight is 0.3 pounds ; ($6.71 * 0.3) = 2.013

Difference :

$(2.013 - 1.68) = $0.333

Owing to scale error, Jed might have been under charged or overcharged an amount of $0.333

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Crane Company issued common stock for proceeds of $389000 during 2019. The company paid dividends of $88000 and issued a long-te
ivann1987 [24]

Answer:

$284,000

Explanation:

Calculation to determine what The financing section of the statement of cash flows will report net cash inflows of

Using this formula

Net cash inflows=Common stock-Dividends-Treasury stock

Let plug in the formula

Net cash inflows= $389000-$88000 -$17000

Net cash inflows=$284,000

Therefore The financing section of the statement of cash flows will report net cash inflows of $284,000

6 0
3 years ago
Prior to adjustment at August 31, Salaries Expense has a debit balance of $272,650. Salaries owed but not paid as of the same da
zlopas [31]

Answer:

A. Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

B. Dr Income summary $275,790

Cr Salary expense $275,790

Explanation:

A. Preparation of the adjusting entry to record accrued salaries as of August 31

August 31

Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

(To record accrued salaries)

B. Preparation of the Closing entry on August 31

August 31

Dr Income summary $275,790

Cr Salary expense $275,790

($272,650+$3,140)

(To record Closing entry)

5 0
3 years ago
The balance in Accounts Receivable at the beginning of the year amounted to $16,000. During the year, $64,000 of credit sales we
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Answer: $70,000

Explanation:

Accounts Receivable at the beginning of the year amounted to $16,000

During the year, $64,000 of credit sales were made to customers.

ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000,

The Amount to appear in the operating activities section of the cash flow statement is

$16,000+$64,000-$10,000= $70,000

8 0
4 years ago
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Answer:

Corporate earnings are subject to double taxation.

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A corporation can be defined as a business that is owned by its shareholders. These various shareholders have the responsibility of putting in place board of directors to supervise the daily activities of the organization.

The ownership of a corporation by shareholders is fully represented by their shares of stock.

Corporate form of business organization assures the owners of their personal asset protection. Various organisations operating in a corporate form find it easier to borrow money, this provides a wide opportunity for the growth of the company.

4 0
3 years ago
Which payment type is best if you are trying to stick to a budget?
Alja [10]
I think the best way would be credit
8 0
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