Answer:
a) Valuation of Ending Inventory
The total cost of consignment = $28980
Cost of Freezers= 60 freezers *$470= $28200
Shipment Costs $ 780
Per unit Cost of Consignment= $28980 / 60= $ 483
The inventory value of the units unsold in the hands of the consignee
= (60 units - 30 units )* 483= $ 14490
b) Profit for the Consignor
Sales 30 units at $800 $24000
<u>CGS 30 units at 483 14490
</u>
<u>Gross Profit 9510
</u>
Less
Advertising $200
Total installation costs $350
<u>Commision 6% of 24000= $ 1440 1990
</u>
<u>Net Profit $7520
</u>
<u />
<u>c) Remittance was made of $7520
</u>
Answer:
The answer is E. $24,000
Explanation:
Straight line depreciation method equals
Cost of asset - salvage value / number of years.
Cost of asset is $135,000
Salvage value is $15,000
Number of years is 5 years
$135,000 - $15,000/5 years
$120,000/5 years
=$24,000
Straight line method of depreciation has equal amount all through the year.
The first year through it end life.
Therefore, machines' first year depreciation under the straight-line method is $24,000
Answer:
Explanation:
Step 1. Given information.
- City of 200 people
- 100 rich, 100 poor.
Step 2. Formulas needed to solve the exercise.
- P(poor) = 0.9x^2
- P(rich)= 35x-0.1x^2
Step 3. Calculation and step 4. Solution.
P(poor) = p (rich)
0.9x2 = 35x - 0.1x2
1x2 = 35x
x = 35
x is the percentage of rich above 50%, thus there are 35% rich people above 50%.
P (poor) = 1102.5
P (rich) = 1102.5
The equilibrium premium is $1,102.5
Answer:
Reserves & Checkable deposits will equal to $36,000 and $106,000
Explanation:
The amount of checkable deposits is given $120,000 on the liabilities side. So, the withdrawal and clearance of check worth $14,000 will lead to a decline in the number of checkable deposits by $14,000. As a result, the remaining amount of checkable deposits will equal to $106,000 ($120,000 - $14,000).
To maintain the balance on asset & liabilities side of the balance sheet, the asset side will also reduce by $14,000. $14,000 will be deducted from the reserves of the bank. As a result, the remaining amount of reserves is equal to $36,000 ($50,000 - $14,000).
