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) 356
Explanation:
ME = Z x √[(P x Q) / N]
- margin of error (ME) = 4%
- 90% confidence level (Z) = 1.645 (by convention)
- P = 70% of apples exceed Grade A
- Q = 30% of apples do not exceed Grade A
- N = sample size = ?
0.04 = 1.645 x √[(0.7 x 0.3) / N]
0.04 = 1.645 x √(0.21 / N)
0.04 = 1.645 x 0.458 / √N
0.04 = 0.7538 / √N
√N = 0.7538 / 0.04 = 18.84
N = 18.84² = 355.2 ≈ 356 (there is no 0.2 apples, you must round up)
Gross Income. Net income is after taxes have been deducted.
Answer:
The maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment is A) 6%
Explanation:
Martin is offered an investment where for $4000 today, he will receive $4240 in one year. The interest rate of the investment = ($4,240-$4,000)/$4,000x100% = 6%
The maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment should equal the interest rate of the investment: 6%
Answer:
screening and evaluation
Explanation:
Screening and evaluation is the third step in a new product development process, and it should work like a funnel. All the ideas generated during the previous stage must be analyzed and only workable ideas should continue the process.
At this stage it is critical to reject poor new product ideas, and continue with viable new product ideas.
