Answer:
c. Both I and II
Explanation:
In the case when there is a loss at the time of the retirement of the parent bond by a subsidiary and it could be effectively recorded in the accounting records of the parent and the subsidiary. It could be done at that date when the retirement is done in a constructive way also the bond terms that are left
Therefore both options should be recognized
Hence, the correct option is c.
Ruby operates a hobby supply store. She maintains her books using the cash method. At the end of the year, her accountant computes her accrual basis income that is used on her tax return.
For 2020, Ruby had cash receipts of $840,000, which included $100,000 collected on accounts receivable from 2019 sales. It also included the proceeds of a $50,000 bank loan. At the end of 2020, she had $175,000 in accounts receivable from customers, all from 2020 sales. Ruby paid cash for all of the purchases. The total amount she paid for merchandise in 2020 was $560,000. At the end of 2019, she had merchandise on hand with a cost of $45,000. At the end of 2020, the cost of merchandise on hand was $80,000.
1. Ruby's accrual basis gross receipts for 2020 are_______ $ .
2. The cost of goods sold for 2020 under the accrual method is________ $ .
3. The gross profit from merchandise sales for 2020 under the accrual basis is________ $ .
Answer:
Ruby
1. Ruby's accrual basis gross receipts for 2020 are_______ $740,000.
2. The cost of goods sold for 2020 under the accrual method is________ $525,000.
3. The gross profit from merchandise sales for 2020 under the accrual basis is________ $340,000.
Explanation:
a) Data and Calculations:
2020 Cash receipts = $840,000
2019 accounts receivable (100,000)
Bank loan (50,000)
Receipts from customers $690,000
Bank loan 50,000
Gross receipts $740,000
Receipts from customers $690,000
plus accounts receivable 175,000
Total sales for 2020 $865,000
Beginning inventory (2019) = $45,000
Amount paid for purchases = $560,000
Ending inventory (2020) = $80,000
Cost of goods sold = $525,000
Total sales for 2020 $865,000
Cost of goods sold 525,000
Gross profit = $340,000
Pule purchases four bottles of bathroom cleaner for $3 each. The maximum prices she would have been willing to pay for each bottle are $6 for the first bottle, $5 for the second bottle, $4 for the third bottle, and $3 for the fourth bottle. The marginal cost of producing the bottles is $2.50. What is Pule's consumer surplus on the third bottle of bathroom cleaner?a. $.50 b. $6c. $1d. $0
Answer:
The correct answer is:
$1 (d)
Explanation:
A consumer surplus is the difference between what a consumer is willing to pay and what they are able to pay for a particular good or service. It is simply the extra benefit gained by the consumer for paying lesser for a good or service than what they actually intended to pay. Based on this, it is noticed that consumer surplus tends to increase as the market price of goods/services fall, and reduce as their price increases. It is represented mathematically as:
Consumer surplus = (Price willing to pay) - (Actual price paid)
In this example, the consumer surplus is calculated thus:
price willing to pay for third bottle = $4
Price paid = $3
Consumer surplus = 4 - 3 = $1
Liang Company began operations on January 1, 2017. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.2017a. Sold $1,347,100 of merchandise (that had cost $983,600) on credit, terms n/30.b. Wrote off $21,100 of uncollectible accounts receivable.c. Received $667,400 cash in payment of accounts receivable.d. In adjusting the accounts on December 31, the company estimated that 2.50% of accounts receivable will be uncollectible.2018e. Sold $1,501,200 of merchandise on credit (that had cost $1,291,000), terms n/30.f. Wrote off $28,100 of uncollectible accounts receivable.g. Received $1,282,100 cash in payment of accounts receivable.h. In adjusting the accounts on December 31, the company estimated that 2.50% of accounts receivable will be uncollectible.Required:1. Prepare Journal entries to record Liang's 2017 and 2018 summarized transactions and its year-end adjustments to record bad debts expense.2. Prepare Journal entries to record Liang's 2017 summarized transaction and its year-end adjustment to record bad debts expenses.3. Prepare Journal entries to record Liang's 2018 summarized transactions and its year-end adjustments to record bad debts expense.
Answer:
journal entries for 2017:
Dr Accounts receivable 1,347,100
Cr Sales revenue 1,347,100
Dr Cost of goods sold 983,600
Cr Merchandise inventory 983,600
Dr Bad debt expense 21,100
Cr Accounts receivable 21,100
Dr Cash 667,400
Cr Accounts receivable 667,400
Dr Bad debt expense 16,465
Cr Allowance for doubtful accounts 16,465
Ending balance of accounts receivable = $658,600
Ending balance of allowance for doubtful accounts = $16,465
Bad debt expense for the year = $37,565
journal entries for 2018:
Dr Accounts receivable 1,501,200
Cr Sales revenue 1,501,200
Dr Cost of goods sold 1,291,000
Cr Merchandise inventory 1,291,000
Dr Allowance for doubtful accounts 28,100
Cr Accounts receivable 28,100
Dr Cash 1,282,100
Cr Accounts receivable 1,282,100
Dr Bad debt expense (= 21,240 + 11,635) 32,875
Cr Allowance for doubtful accounts 32,875
Ending balance of accounts receivable = $849,600
Ending balance of allowance for doubtful accounts = $21,240
Bad debt expense for the year = $32,875
should I cover for my coworker who sneaks out
no then you would get in trouble, but then again it would be nice for you to do it fir him. tell the boss that he needed to go do something if he gets cureas.(can't spell)
In the Keynesian model, when government decreases its spending by $20 billion, and it decreases taxes by $30 billion, and the MPC is .75, by how much will total spending in the economy change?A) Total spending will increase by $70 billion.
B) Total spending will decrease by $270 billion.
C) Total spending will increase by $200 billion.
D) Total spending will increase by $10 billion.
E) Total spending will decrease by $470 billion.
Answer:
D) Total spending will increase by $10 billion.
Explanation:
The computation is shown below:
As we know that
Multiplier = 1 ÷ 1 -MPC
= 1 ÷ 1 - 0.75
= 1 ÷ 0.25
= 4
When there is a decrease in tax so the total spending increase is $30 billion
And, the reduction in spending because of the reduction in the government expenditure is $20 billion
So, the increase in total spending is
= $30 billion - $20 billion
= $10 billions
hence, the correct option is D.
Leach Inc. experienced the following events for the first two years of its operations:
Year 1: Issued $10,000 of common stock for cash.
Provided $100,000 of services on account.
Provided $35,000 of services and received cash.
Collected $65,000 cash from accounts receivable.
Paid $14,000 of salaries expense for the year.
Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible.
Year 2: Wrote off an uncollectible account for $680.
Provided $120,000 of services on account.
Provided $25,000 of services and collected cash.
Collected $102,000 cash from accounts receivable.
Paid $30,000 of salaries expense for the year.
Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible.
Required
a. Record the 2016 and 2017 events in general journal form and post them to T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
b. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for 2016 and 2017. (Statement of Cash Flows and Balance Sheet only: Items to be deducted must be indicated with a minus sign.)
c. What is the net realizable value of the accounts receivable at December 31, 2016 and Dec. 31. 2017?
Answer:
that is too hard check gogle
Which of the following is an advantage of self-employment?
A. Control over time
B. Long hours
C. Risk of failure
D. Legal issues
Please select the best answer from the choices provided
А.
B
OOOO
с
Answer:
A. Control over time
Explanation:
I just took the test, and that was the correct option :)
QUESTION 14
Which of the following is not true when describing an Exchange?
Each part has something that might be of value to the other party
Three or more parties must be involved
Each party is capable of communication and delivery
Each party believes it is appropriate or desirable to deal with the other party
Each party is free to accept or reject the exchange offer
Answer:
this is my answer hopes it helps you
Explanation:
Each party believes it is appropriate or desirable to deal with the other party
A company currently using an inspection process in its material receiving department is trying to install an overall cost reduction program. One possible reduction is the elimination of one inspection position. This position tests items for which the probability of a material defect averages 0.01. By inspecting all items, the inspector is able to remove all defects. The inspector can inspect 50 units per hour. The hourly rate including fringe benefits for this position is $10. If the inspection position is eliminated, defects will go into product assembly and will have to be replaced later at a cost of $11 each when they are detected in final product testing.
Assume that the line will operate at the same rate (i.e., the inspection rate) if the inspection operation was eliminated.
a-1. If the inspector position is eliminated, what will the hourly cost of defects be? (Round your answer to 2 decimal places.)
Cost per hour $
a-2. Should this inspection position be eliminated based on costs alone?
Yes
No
b. What is the cost to inspect each unit? (Round your answer to 2 decimal places.)
Cost per unit $
c. Is there benefit (or loss) from the current inspection process? How much? (Input all amounts as positive values. Round your answers to 2 decimal places.)
Hourly Per unit
(Click to select)LossBenefit $ $
Answer:
a-1. If the inspector position is eliminated, the defects will not be detected. These cost the company $11 to replace.
Defects per hour = 50 * 0.01 = 0.5 units
Cost per hour = 0.5 * 11 = $5.50
a-2. Based on costs alone, the inspection position should be eliminated. This is because the cost of having the Inspection position is $10 but it would only cost the company $5.50 if the position was not there so the cost of the inspection position is more than the cost incurred if it wasn't there.
b. = Inspection fees/ Units inspected per hour
= 10/50
= $0.50 per unit
c. Cost without Inspection is $5.50. With Inspection is $10.
Hourly Loss = 5.50 - 10
= -$4.50
Per unit loss = -4.50/50
= -$0.09
A Chinese company exchanges yuan (Chinese currency) for dollars. It uses these dollars to purchase scrap metal from a U.S. company. As a result of these transactions, Chinese net exports a. increase, and U.S. net capital outflow increases. b. decrease, and U.S. net capital outflow decreases. c. increase, and U.S. net capital outflow decreases. d. decrease, and U.S. net capital outflow increases.
Answer:
d. decrease, and U.S. net capital outflow increases.
Explanation:
Yuan is the currency of the country China and the currency of United States of America is dollar. Every country in the world does imports of some goods to meet the demands of the country and exports some items to the other countries that is produced in abundance in the parent country. In this way, countries earn huge capital by doing importing and exporting.
In the context, China will buy scrap metal from United States, thus China is importing a good from U.S. So China will have more of import. Hence China net export will decrease. While U.S. is selling goods to China in exchange of dollar and earning capital. So, net capital outflow of the United States will increase.
Beige Corporation, a C corporation, purchases a warehouse on August 1, 2007, for $1 million. Straight-line depreciation is taken in the amount of $411,750 before the property is sold on June 11, of the current year, for $1.2 million. What is the amount and character of the gain recognized by Beige on the sale of the realty?
Answer and Explanation:
The computation of the amount and character of the gain recorded is shown below:
1. Recognized gain would be
= Sales - the cost of the property - recovery cost
= $1,200,000 - $1,000,000 - $411,750
= $611,750
2. Now as per the section 1245 the potential recapture is $411,750
3. Now extra section 291 ordinary income in the case when it is a corporation
= $411,750 ×20%
= $82,350
4. And finally $82,350 would be considered as an ordinary income under section 291 while the remaining balance i.e.
= $611,750 - $82,350
= $529,400
This amount would be considered as a gain under section 1231
Henri earned a salary of $50,000 in 2001 and $70,000 in 2006. The consumer price index was 177 in 2001 and 265.5 in 2006. Henri's 2006 salary in 2001 dollars is:_______.a. $105,000.00. b. $46,666.67. c. $35,000.00. d. $61,950.00
Answer: $46666.67
Explanation:
From the question, we are informed that Henri earned a salary of $50,000 in 2001 and $70,000 in 2006 and that the consumer price index was 177 in 2001 and 265.5 in 2006.
For us to calculate Henri's 2006 salary in 2001 dollars, we have to multiply Henri's 2001 real salary by the price in 2001. This will be:
= (70000/265.5) × 177
= $46666.67
A ________ is an unsecured bond, and most of the bonds sold today in the United States are of this type.A) mortgage bondB) debentureC) senior bondD) bond indenture
Answer:
B) debenture
Explanation:
A bond refers to a debt or fixed investment security, in which a bondholder (creditor or investor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time.
Generally, the bond issuer is expected to return the principal at maturity with an agreed upon interest to the bondholder, which is payable at fixed intervals.
A debenture is an unsecured bond, and most of the bonds sold today in the United States are of this type because it's a long-term security that yields fixed rate of interest.
The production possibilities curves suggest that rev: 09_17_2020_QC_CS-228777 Multiple Choice West Mudville should specialize in, and export, both baseballs and baseball bats. workers will try to immigrate from West Mudville to East Mudville. West Mudville should specialize in, and export, baseball bats. East Mudville should specialize in, and export, baseball bats.
Answer: West Mudville should specialize in, and export, baseball bats.
Explanation:
Each country should specialize in the good that it has a lower opportunity cost in producing.
West Mudville
Opportunity cost of producing baseball bats = 9/9 = 1 baseball
Opportunity cost of producing baseball = 9/9 = 1 baseball bat
East Mudville
Opportunity cost of producing baseball bats = 8/4 = 2 baseballs
Opportunity cost of producing baseball = 4/8 = 0.5 baseball bats
From the above, West Mudville has a lower opportunity cost than East Mudville in the production of baseball bats and so it should specialize in and export that.
Selected transactions for Windsor, Inc., an interior decorating firm, in its first month of business, are as follows.
Jan. 2
3
9
11
Invested $18,481 cash in the business in exchange for common stock.
Purchased used car for $10,103 cash for use in the business.
Purchased supplies on account for $616.
Billed customers $2,218 for services performed.
Paid $246 cash for advertising.
Received $961 cash from customers billed on January 11.
Paid creditor $370 cash on balance owed.
Declared and paid a $616 cash dividend.
16
20
23
28
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent
manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the
account titles and enter o for the amounts.)
16 28 24 29-$4&3 gfrrffttttttru
Red and White Company reported the following monthly data:Units produced $2,000 unitsSales price $25 per unitDirect materials $1 per unitDirect labor $2 per unitVariable overhead $3 per unitFixed overhead $8,000 in totalWhat is Red and White's net income under variable costing if 980 units are sold and operating expenses are $12,000?A. $(1,380)B. $(2,000)C. $2,700D. $6,620E. $10,620
Answer:
A. $(1,380)
Explanation:
The computation of the net income under the variable costing is shown below:
Net Income /(loss) = Sales Revenue - Variable cost - Fixed overhead - Operating expenses
= (980 × $25) - (980 × $6) - $8,000 - $12,000
= $24,500 - $5,880 - $8,000 - $12,000
= ($1,380)
Hence, the correct option is A. ($1,380)
We simply applied the above formula so that the correct value could come
And, the same is to be considered
For which capital component must you make a tax adjustment when calculating a firmâs weighted average cost of capital (WACC)?
a. Debt
b. Preferred stock
c. Equity
Answer:
a. Debt
Explanation:
For determining the weighted average cost of capital we used the after tax cost of debt as the interest expense is the tax deductible that represents that if there is any issue of debt so it would be decreased as of tax impact
Therefore as per the given situation, the debt is selected
hence, the option a is correct
And, all the other options are wrong
Organization ________ refers to the formal arrangement of roles, responsibilities, and relationships within an organization.
Answer:
A) structure
Explanation:
The organization structure is the structure where the arrangement of the rule, roles, responsibilities, relationships in a formal way could be done in an organziations.
It tells the way to accomplish the goals and the objectives of the company
Therefore according to the given situation, the option A is correct
hence, the same is to be considered
Moody Farms just paid a dividend of $4.00 on its stock. The growth rate in dividends is expected to be a constant 6 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for the next three years, and a return of 11 percent thereafter. What is the current share price?
Answer:
the current share price is $73.31
Explanation:
The computation of the current share price is shown below:
P0 = [{D0 × (1 + g)} ÷ (1 + r1)] + [{D0 × (1 + g)^2} ÷ (1 + r1)^2] + [{D0 × (1 + g)^3} ÷ (1 + r1)^3] + [{D0 × (1 + g)^4} ÷ {(1 + r1)^3(1 + r2)}] + [{D0 × (1 + g)^5} ÷ {(1 + r1)^3(1 + r2)^2] + [{D0 × (1 + g)^6} ÷ {(1 + r1)^3(1 + r2)^3] + [{D0 × (1 + g)^7} ÷ {(rC - g)(1 + r1)^3(1 + r2)^3]
= [($4 × 1.06) ÷ 1.15] + [($4 × 1.062) ÷ 1.152] + [($4 × 1.063) ÷ 1.153] + [($4 × 1.064) ÷ (1.153 × 1.13)] + [($4 × 1.065) ÷ (1.153 × 1.132)] + [($4 × 1.066) ÷ (1.153 × 1.133)] + [($4 × 1.067) ÷ {(0.11 - 0.06)(1.153 × 1.133)}]
= $3.69 + $3.40 + $3.13 + $2.94 + $2.76 + $2.59 + $54.82
= $73.31
hence, the current share price is $73.31
Where do the resources come from to continue to expand the production of watermelons
Explanation:
A production of watermelons or any agrarian resource, needs specific resources to continue expanding production, because unlike an organization that produces durable goods, a company that produces watermelons needs more than machines and equipment, it primarily needs a farm with ideal land for planting and growing watermelons.
The resources also come from government subsidies, workers, equipment, investments, etc.
A balance sheet that displays assets and liabilities into current versus noncurrent categories is commonly called a:________a) categorized balance sheet. b) current balance sheet. c) classified balance sheet. d) dual display balance sheet.
Answer:
c) classified balance sheet.
Explanation:
A classified balance sheet can be described as a balance sheet in which the information about assets, liabilities, and shareholders' equity of a company is presented by aggregating or classifying it into subcategories of accounts.
The advantage of a classified balance sheet is that it easier to read and it makes it easier for readers to obtain required information than when the information is just presented in a large number of line items.
The classifications mostly used within a classified balance sheet include Intangible assets, fixed assets (or Property, Plant, and Equipment), current assets, current liabilities, long-term liabilities, and shareholders' equity.
In accounting, the addition of these classifications is required to match the accounting equation stated as follows:
Total assets = Total liabilities + Shareholders' Equity
5. Suppose you are working in a ceramics factory and you are constructing control chart for an critical feature with batches of very fragile parts that common get broken during the measurements. You always start with 8 parts, but sometimes a few of them are broken while measuring them. What type of control chart would you construct and why
Explanation:
Analyzing the above scenario, the ideal type of control chart for construction would be the EWMA control chart integrated with the VSS and VSI control, because unlike traditional charts, it considers the variable sample size (VSS) and the variable sampling interval ( VSI) and therefore are more effective in considering the variations in the process in the control, which was what happened in the question above, since during the process of building the control chart there are some changes resulting from the breaking of the ceramic pieces, so it is ideal to build a graph that detects the changes in a more complete way.
The NASDAQ stock market bubble peaked at 5,445 in 2000. Two and a half years later it had fallen to 1,285. What was the percentage decline?
Answer:
76.40%
Explanation:
Calculation for What was the percentage decline
Using this formula
Percentage decline=+Fallen stock market bubble-Peaked stock market bubble)÷Peaked stock market bubble
Let plug in the formula
Percentage decline=(1,285 - 5,445) ÷5,445
Percentage decline=-4,160÷5,445
Percentage decline=-0.7640*100
Percentage decline=-76.40%
Therefore the percentage decline will be -76.40%
1. Why does Sutherland argue that businesses need to think about the small stuff rather than the big, splashy things?
2. Why do you think the small stuff makes such a difference for businesses?
3. Think about the business and products that you use or are familiar with. What is one "small stuff" that you could change or improve on one of them to make it more functional or better? Describe the product/service and the change that you would make.
Hello. You did not enter the text to which this question refers. For that reason, the answers may have inaccuracies in accuracy, but I hope it helped you.
1. Because little things are the basis for big things to happen. The little things are the details, which we often overlook, but which are extremely important for the smooth running of a company. Big, flashy things can be positive factors, but these things need to be composed of details that are small things that bring great results and need to be considered carefully.
2. Because they are unnoticed, but active. When we do not pay attention to them, they act without administration and regulation and can assume very disadvantageous positions, so it is necessary to note and regulate them to act according to the necessary control.
3. My mom runs a handbag store and runs events every season to showcase new trends. The event is a great thing, but it is full of small things (the details) that are of great importance for the success of the event. Among these small things, one that I would like to change is the cooling of the environment. As we live in a hot climate, we need to cool our warehouse during the event. We use fans, but I recognize that this detail should change and that change would bring more customers. That's because the fan messes up the customers' hair, making them uncomfortable. This is a small thing, but very important.
Q1: A researcher wants to understand the role of ethnocentrism, animosity, and self-esteem on purchase intention towards Chinese products in Pakistan with the moderating role of social status.
Based on the given information, answer the following questions:
I. Identify the independent variable(s), moderator, and dependent variable(s) of the study.
II. Develop the conceptual framework
III. Suggest the null and alternative hypothesis/hypotheses of the study.
Question No.2:
Rectify the Error if any in the following in-text citation as per APA guidelines
Perceived risk, which is defined as an individual’s degree of expected uncertainty associated with the result of using a certain technology (Tan and Lau, 2016). It includes five main groupings: service performance, monetary, time, societal, and security risks (Jacoby and Kaplan, 1972; Mha, 2015). Perceived risks in turn increase consumer hesitation and generate negative attitudes toward a service (Kalaiarasi and Srividya, 2012). This breeds a sense of anxiety and unease that in turn decreases the perceived value and usefulness of technology, thereby diminishing adoption intentions (Kumar, Arcand, Tai, 2012). Indeed, as stated by (Kazi and Mannan, 2013), electronic banking applications are associated with high perceived risks because consumers fear the exchange of personal financial information and services through online applications Moreover, studies have indicated that a high degree of perceived risk and insecurity is generally associated with mobile devices as people dread the loss or theft of these appliances and the information they hold (Hanafizadeh, 2013). Studies have also found that consumers fear the uncertainty associated with mobile applications, including system errors, software problems, connection troubles, and third party hacking (Tai and Ku, 2013). Therefore, high risks will significantly reduce an individual’s likelihood to adopt m-banking technologies (Kumar, Arcand, Tai, 2012).
Answer:
A researcher wants to understand the role of ethnocentrism, animosity, and self-esteem on purchase intention towards Chinese products in Pakistan is explained below in complete details.
Explanation:
1. Independent variable are those variables which are shaped by the experimenter, also described the incentive variable. There are 3 Autonomous Variables
IV. - • Ethnocentrism • Animosity • Self Esteem
Dependent Variable- The variable that is covered, also termed acknowledgment variable.
DV -the purpose of acquiring Chinese commodities.
Moderator - moderator is the variable that improves the intensity of the association between IV and DV (as discussed in the description above)
Social Status is the moderator.
3. Alternative hypothesis - Social Status moderates the variation in the purchasing purpose of Chinese commodities between people of differing Ethnocentrism, self-esteem, and Animosity towards Chinese commodities in Pakistani people.
Null hypothesis - there is no distinction between the purchasing intention of people of differing Ethnocentrism, Self Esteem, and Animosity towards Chinese commodities in pakistani population.
The four P's include _____. product process promotion price
small business entrpanership
Answer:
These are the four Ps: the product (the good or service); the price (what the consumer pays); the place (the location where a product is marketed); and promotion (the advertising).
Explanation:
The following information pertained to Azur Co. for the year: Purchases 102,800 Purchase discounts 10,280 Freight-in 15,420 Freight-out 5,140 Beginning inventory 30,840 Ending inventory 20,560 What amount should Azur report as cost of goods sold for the year?a. $118,220.b. $102,800.c. $123,360.d. $128,500.
Answer:
a. $118,220
Explanation:
The computation of the cost of good sold is shown below:
As we know that
Cost of goods sold = Beginning Inventory + Net purchases + Freight in - Ending Inventory
where,
Net purchase is
= Purchases - Purchase returns and allowances - Purchase discounts
= $102,800 - $10,280
= $95,520
And, the other items values would remain the same
so, the cost of goods sold is
= $30,840 + $92,520 + $15,420 - $20,560
= $118,220
hence, the cosr of good sold is $118,220
The adjusted trial balance of Sunland Company shows these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $903,400; Freight-Out $13,700; Sales Returns and Allowances $22,000; and Sales Discounts $15,400. Prepare the sales section of the income statement.
Answer and Explanation:
The preparation of the sales section of the income statement is presented below:
Income Statement
For the year ended
Sales
Sales revenue $903,400
Less:
Sales Discount $15,400
Sales return & allowances $22,000
Net Sales $866,000
hence the net sales is $866,000
The freight out would not be considered. Hence, ignored it
What is the effect on real GDP of a $150 billion change in planned investment if the MPC is 0.65? $ nothing billion. (Enter your response rounded to the nearest whole number.)Consumption $1,200 2,100 3,000 Disposable Income $3,000 4,000 5,000 Given the consumption schedule in the table above, the marginal propensity to consume is:______a. 0.1b. 0.3c. 0.9d. 0.6
Answer and Explanation:
The computation of the effect on real GDP is shown below:
change in GDP is
= Multiplier × change in investment
= 1 ÷ (1 - MPC) × change in investment
= 1 ÷ (1 - 0.65) × $150 billion
= 2 × $150 billion
= $300 billion
And, the marginal propensity to consume is
= Change in spending of consumer ÷ income change
= (2,100 - 1,200) ÷ (4,000 - 3,000)
= 900 ÷ 1,000
= 0.9
In its ads, Clorox touts the effectiveness of its Disinfecting Wipes by claiming that they disinfect better than those made by Windex, a competing brand. This is: 1. reminder advertising. 2. comparative advertising. 3. primary advertising. 4. selective advertising. 5. institutional advertising.
Answer: I would say 2. Comparative advertising
Explanation: In terms of comparing Clorox is saying, “yeah we disinfect better than windex over there.”