Answer:
The value of closing inventory is $3,500
Cost of goods sold $40,670
Explanation:
The two tasks here is to compute the value of closing inventory and the costs of goods sold during the year.
The fact that all opening inventory units were sold and that 230 units out of 250 units bought on May 5 leaves 20 units of that batch inventory in closing inventory.
Also, 20 units of 200 units bought on November 3 in inventory since 180 units were already sold.
Hence the value of closing inventory is computed thus:
May 5 20*$85=$1,700
Nov 3 20*$90=$1,800
Total $3,500
The costs of goods sold are is computed thus:
Opening inventory 60*$82 $4,920
May 5 230*$85 $19,550
Nov 3 180*$90 $ 16,200
Total $40,670
Answer: See attachment
Explanation:
a. What is Poplock’s year 1 depreciation expense for each asset?
See attachment. Note that the depreciation for the assets were calculated as the original basis × the rate. e.g for Computer equipment, the Depreciation was, the original basis of $5000 × the rate of 20% which equals $1,000.
b. What is Poplock’s year 2 depreciation expense for each asset?
Check attachment.
Depreciation for computer = $1600
Depreciation for day grooming furniture = $1714
Depreciation for popup truck = $3200
Depreciation for commercial building = $6923
Answer:
The answer is $10.42 per share
Explanation:
Book value per share is the value placed on a share as shown in the book (Financial statement of the company) while market value per share is the value viewed by the public.
Common equity = $5,125,000
Outstanding shares = 300,000 shares
Book value per share = common equity/outstanding shares
$5,125,000/300,000 shares
= $17.08 per share
Market price is $27.50 per share
Therefore, the difference is :
$27.50 - $17.08
= $10.42 per share
An open market purchase by the fed has a tendency to:A. increase the demand for bonds, drive up bond prices, and <span>raise interest rates
</span><span>In open market purchase, the government will sell an investment in the form of bond or other government securities to the market.
When this happen, the demands for government securities will be increased, which lead to an increse in all the bond price due to the high demand.
All of these will increase the amount of money in circulation , which will lead to an increase in interest rates
</span>
Answer:
460$ profit
Explanation:
Marginal revenue is equal to marginal cost which shows that the restaurant is working in a competitive environment.
The restaurant is serving 230 meals, per meal cost is 10$.
The total cost of serving 230 meals is = 230*10 = 2300$
The restaurant is earning 2$ profit per meal, the total profit is = 230* 2= 460$
