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riadik2000 [5.3K]
3 years ago
5

For sara, ramen noodles are a normal good, however sean considers ramen noodles to be inferior. if sara and sean have the same a

mount of income:
Business
1 answer:
avanturin [10]3 years ago
8 0
<span>In this case, Sara will see the ramen as a good that is more elastic in demand than will Sean. This will mean that, as income drops for Sara, she will purchase less of the good than will Sean. Sean will end up purchasing less of the good if he has an increase in income.</span>
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g During Year 2, the company experienced the following events: Purchased inventory that cost $5,200 on account from Ross Company
meriva

Answer:

a) I used an excel spreadsheet to record the T-accounts

the closing entries would be:

Dr Sales revenue 12,100

Dr Purchase discounts 48

Dr Interest revenue 600

Dr Gain on sale of land 1,500

    Cr Income summary 14,248

Dr Income summary 8,512

    Cr Cost of goods sold 6,450

    Cr Sales returns 1,680

    Cr Sales discounts 242

    Cr Distribution costs 140

Dr Income summary 5,736

    Cr Retained earnings 5,736

b) Ross Company

Income Statement

For the year ended December 31, Year 2

Revenues:

  • Sales revenues $12,100
  • Sales returns ($1,680)
  • Sales discounts ($242)                         $10,178

Cost of goods sold                                       <u>($6,450)</u>

Gross profit                                                     $3,728

Expenses:

  • Distribution costs ($140)                          <u>($140)</u>

Operating income                                          $3,588

Other sources of income:

  • Gain on sale of land $1,500
  • Interest revenue $600                          <u>$2,100</u>

Net income before taxes                               $5,688

Download pdf
8 0
3 years ago
You bought one of Lambert Sandblasting Company's 15-year bonds one year ago for $960. These bonds pay 7 percent annually, have a
maksim [4K]

Answer:

Real return on investment: 22.9465%

Explanation:

Okay let's explain each concept we have given:

<em>Face Value</em>                                         $1,000

This is the ammount Lambert will pay at maturity

Purchase Value                                   $  960

This is the Ammount we pay for the bond

<em>Market Value of the bond today         $   ???</em>

This is what we need to determinate to see the return we got

Once we got the market Value we will do:

Market Value / Purchase Value   - 1 = rate of return

Now the <em>market value today will be the present value of the bond,</em> and the bond has the following data:

  • Mature in 14 year
  • bond rate 7% annualy.

So each year we receive the 7% of the face value ($1,000) = $70

And at the end of the bond life we receive 1,000

We need to bring this numbers at present day using the real market rate, because the economy is having inflation:

market rate  8%

inflation rate 2.7%

real rate:  

(1+rate)/(1+inflation) -1 = real rate

\frac{1.08}{1.027} -1 = real rate

real rate = 5.16%

To know the present value of the bond we will have to consider:

  • present value of an annuity of 70$ during 14 year at a rate of 5.16% =
  • present value of the 1,000 that will be pay at maturity at a rate of 5.16%

<em>The annuity will be </em>

70 * \frac{1-(1+0.0516)^-14}{0.0516} = 685.87

C * \frac{1-(1+rate)^-time}{rate} = present value

$685,87

<em>The present value of the 1,000 will be</em>  

face value/(1+rate)^time

1,000/(1+0.0516)^14 = $494,42

for a total of $1.180,29

Now we will calculate the real return on the investment:

we receive 1.180,29 for 960 so the rate is

1.180,29 /960 - 1 = 0.229465 =  22.9465%

8 0
3 years ago
In the sentence They discussed four important issues at the meeting, the word at is a(n) ____.
slava [35]

From the sentence, it can be deduced that "at" is used a preposition.

<h3>What is a preposition?</h3>

It should be noted that a preposition simply means a word that is used before a noun or pronoun to show direction, place, time, etc.

In the sentence "They discussed four important issues at the meeting", the word at is a preposition. It is used to show where the issue took place.

Learn more about preposition on:

brainly.com/question/17476214

8 0
2 years ago
Starling Company purchased machinery at the beginning of Year 1 at a cost of $86,100. The machinery has an estimated life of fiv
Alja [10]

Answer:  $10,906

Explanation:

Given that,

Purchased machinery at the beginning of Year 1 = $86,100

machinery has an estimated life of five years,

Estimated residual value = $4,305

Accumulated depreciation = $49,077 at the end of Year 2

Year 3 Depreciation expense:

= \frac{Cost\ of\ machinery - Estimated\ residual\ value - Accumulated\ depreciation}{3}

= \frac{86,100 - 4,305 - 49,077}{3}

= $10,906

5 0
3 years ago
Why is silk smooth ? A long thin fibers B genetic engineering C being harvested in the wild D being made by worms
Marysya12 [62]
A i think. Im not sure though.

3 0
3 years ago
Read 2 more answers
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