Answer:
The discount will not affect the net income as no gain is recognize nor expense.
the cash flow statemetn will decrease by 3,960 which is the cash used.
the balance sheet after the series of trasnactions, will show inventory for 3,960
Cash would have decrease by 3,960
No change on equity.
Explanation:
inventory 5,000 debit
accounts payable 5,000 credit
account payable 1,000 debit
inventory 1,000 credit
Account payable 4,000 debit
Inventory 40 credit
Cash 3,960 credit
Answer: $25000
Explanation:
From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.
Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.
120% × x = $30000
1.2x = $30000
x = $30000/1.2
x = $25000
Therefore, the amount paid for the property is $25000
Answer:
Economic duress
Explanation:
We say there is an economic duress during a contract when one party to the contract threatens to terminate the contract if the other person does not agree to their demands. Brent is asking for more money, if he does not get this, he says he would leave the work unfinished.
When this happens, the other party may be left stuck and may have no option than to agree to the new demands of the contract.
It guarantees profits, the risk is reduced but the barrier to entry is higher in the form of a high price.
Answer:
Exact flow time = 14.5 hours
Value added percentage of flow time = 0.0020
Explanation:
Exact Flow time is calculated as :
1 + 2+ 2+ 3+ 2+ 2+ 05+ 2 hours + [1.75 minutes / 60] hours = 14.50 hours
14.50 * 60 = 871.75 minutes
Value added percentage of flow time calculations :
1.75 minutes / 871.75 minutes = 0.0020 or 0.2%
