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dolphi86 [110]
3 years ago
10

Concord Corporation reported the following information for 2016: October November December Budgeted sales $430000 $400000 $51000

0 Budgeted purchases $210000 $226000 $258000 Cost of goods sold is 35% of sales. Concord purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much is the budgeted balance for Accounts Payable at October 31, 2016? $84000 $126000 $216000 $90400
Business
1 answer:
hodyreva [135]3 years ago
5 0

Answer:

a. $84,000

Explanation:

Given, credit purchases are 40% of the sales, will be collected in the following month

Credit purchase = Budgeted purchase * 40%

Credit purchase = $210,000 * 40%

Credit purchase = $84,000

So, the budgeted balance for Accounts Payable at October 31, 2016 is $84,000.

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I think we should use macroeconomic analysis to analyze it. 
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3 years ago
The law of increasing opportunity cost says that A. wages increase as employment increases B. interest rates rise as inflation i
AleksAgata [21]

Answer:

E. the more of something we produce, the greater is the opportunity cost of producing an additional unit

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

An example to illustrate increasing opportunity cost. Let us assume that Emily can use her leisure time to either rest or make spaghetti. If Emily uses 1 hour to make spaghetti, she forgoes 1 hour that she could have spent resting. If she spends 2 hours making spaghetti, she forgoes two hours of rest. Her opportunity cost keeps increasing the longer she spends making spaghetti.

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3 years ago
Gawain sa Pagkatuto Bilang 6. Magsaliksik ng isang paksa at bumuo ng
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5 0
4 years ago
Read 2 more answers
Charles, the president of an IT company, is friends with Levi, the CEO of Cyber Industries, a company that develops and manufact
Akimi4 [234]

Answer: Option A

 

Explanation: In simple words, Ponzi scheme refers to a scheme in which a company deceit their earlier investor by paying them from the funds of recent investors in the form of profits.

In the given case, Levi deceited Charles by making him believe of a strategy that may or may not exist in his organisation. Thus, he will pay charles from the money that he will gain from the market after the announcement of the new processor.

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7 0
4 years ago
Don James purchased a new automobile for $15,000. Don made a cash down payment of $3,750 and agreed to pay the remaining balance
Kamila [148]

Answer:

The monthly payments are calculated below.

Explanation:

Total monthly instalments= 15,000-3,750

=11,250

Amount payable at 24% annual financing;

A=P (1+r/100)n

=11,250(1+24/100)30/12

=$642

FV=PV (1+r)n

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ii) FV =16,000*(1.05)15

= $33,263

iii) FV =29,000*(1.11)12

= $101,455

iv) FV =49,000*(1.04)7

= $64,481

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3 years ago
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