3 years ago

9. An amount spent for an item that a person could do without is a(n)

1 answer:

4 0

C. Discretionary is something purchased that is not necessary. You have the decision to buy or not buy. You might want it, but do. Not NEED it.

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The Supplies account had a balance at the beginning of year 3 of $8900 (before the reversing entry). Payments for purchases of s

Alex787 [66]

Answer:

supplies expense 47,300 DEBIT

supplies 47,300 CREDIT

Explanation:

$$$Beginning Inventory + Purchase = Ending Inventory + supplies Expense$

8,900 + 53,300 = 14,900 + supplies expense

8,900 + 53,300 - 14,900 = supplies expense

supplies expense = 47,300

Beginning and Purchase will be the supplies available during the period.

this supplies can be used or stored.

if the stored are 14,900 then the diference was used.

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4 years ago

The Gecko Company and the Gordon Company are two firms that have the same business risk but different dividend policies. Gecko p

PtichkaEL [24]

Answer:

Gordon's Pretax return is 13.015%

Explanation:

Dividend yield of Gordon =2.9% =0.029

Tax rate = 35% =0.35

Gordon's after-tax return = Gecko's after-tax return =12 % (This is because the capital gains tax is zero)

Using the formulae

After-tax return of Gordon= Capital gains yield + Dividend yield x (1-tax rate)

0.12 = Capital gains yield + (0.029 x ( 1 - 0.35)

0.12 = Capital gains yield + (0.029 X 0.65)

0.12 = Capital gains yield + 0.01885

Capital gains yield= 0.12 -0.01885 =0.101155

Pretax return is given as

Capital gains yield + Dividend yield

= 0.101155+ 0.029 =0.13015 x 100=13.015%

Therefore, Gordon's Pretax return is 13.015%

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3 years ago

Which term refers to promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer

Strike441 [17]

Allowance, I believe.

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3 years ago

Nutritional Foods reports merchandise inventory at the lower-of-cost-or-market. Prior to releasing its financial statements for

Liono4ka [1.6K]

Answer:

a) since the cost of ending inventory is higher than the replacement value, then ending inventory must decrease, which will result in higher COGS. The adjusting journal entry is:

March 31, 2017, inventory adjustment

Dr Cost of goods sold 2,000

Cr Merchandise inventory 2,000

b) revised income statement

NUTRITIONAL FOODS

Income Statement (Partial)

Year Ended March 31, 2017

Sales Revenue ........ $117,000

Cost of Goods Sold ..... $47,000

Gross Profit ........ $70,000

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3 years ago

You bought a new car for $23,500. You put down $5,000 cash and have to take a loan out to pay for the rest. The car dealership i

Vanyuwa [196]

Answer:

$4,507.73

Explanation:

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4 years ago