Answer:
Both will charge $6,904 when they transport 16 tons of sugar.
Explanation:
The amount of sugar to be transported is S, since we need to calculate at which amount of sugar both truck companies charge the same total price, we need to solve the following:
first company charges $4,500 + $150.25 S
second company charges $3,696 + $200.50 S
since both companies will charge the same total amount, then
$4,500 + $150.25 S = $3,696 + $200.50 S
$4,500 - $3,696 = $200.50 S - $150.25 S
$804 = $50.25 S
$804 / $50.25 = S
S = 16
$4,500 + ($150.25 x 16) = $4,500 + $2,404 = $6,904
Answer:
Price Skimming
Explanation:
Price skimming is one kind of price-setting strategy where marketers set a relatively higher price when the product launch initially in the market. Generally, the producer sets a higher price rather than it should prevail in the market, and later on, the price goes down due to lower demand. Price skimming strategy only applicable to a new product that is about to launch in the market. It is generally done by fancy advertising of the product.
Answer:
d) $228,000 outflow
Explanation:
Calculation for the amount that the salaries should be reflected in the analysis
Using this formula
Salaries=Salaries expense-(Salaries expense*Tax rate)
Let plug in the formula
Salaries=$380,000-($380,000*40%)
Salaries=$380,000-$152,000
Salaries=$228,000 Outflow
Therefore salaries should be reflected in the analysis by a: $228,000 outflow
Answer:
The entry to record the sales transactions and related taxes for Quartz Company would be as follows:
Debit Credit
Cash $23,100
Sales $22,000
Sales taxes $1,100
Cash $13,780
Sales $13,000
Sales taxes $780
Explanation:
In order to prepare the entry to record the sales transactions for Quartz Company we would have to make the following calculation:
According to the given data On April 10, the register totals are sales $22,000 and sales taxes $1,100, hence, cash=$22,000 +$1,100=$23,100
Therefore, the entry to record the sales transactions for Quartz Company would be as follows:
Debit Credit
Cash $23,100
Sales $22,000
Sales taxes $1,100
In April 15 the cash is $13,780, which includes a 6% sales tax, therefore, the sales would be calculated as follows:
sales=$13,780/6%
sales=$13,000
hence, sales taxes=$780
The entry to record the sales transactions and related taxes for Quartz Company would be as follows:
Cash $13,780
Sales $13,000
Sales taxes $780
Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.
Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.
We are required to give the name of the body that guide the measurement and communication of financial accounting information.
The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.
Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.
Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.
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