Alice deposits $2000 at time 0 under a nominal interest rate 6% compounded monthly for two years. And the end of the first year she deposit another $3000 under a nominal interest rate 7% compounded quarterly for one year. What is the equivalent annual effective interest rate for these two deposits over the first two years (i.e. the rate under which Alice would have the same total balance at time 2)
Answers
Answer:
effective rate of 6.59%
Explanation:
First, we solve for the amount after 2-years
\(2,000 \times (1 +\frac{0.06}{12}) ^{2 \times 12})+ 3,000 (1+\frac{0.07}{4})^4=\)
\(Principal \: (1+ r)^{time} = Amount\)
Principal 2,000.00
time 24.00
rate 0.00500
\(2000 \: (1+ 0.005)^{24} = Amount\)
Amount 2,254.32
\(Principal \: (1+ r)^{time} = Amount\)
Principal 3,000.00
time 4.00
rate 0.01750
\(3000 \: (1+ 0.0175)^{4} = Amount\)
Amount 3,215.58
Total: 2,254.32 + 3,215.58 = 5,469.90
Now, we solve for the effective rate:
\(2,000(1+r_e)^2 + 3,000(1+r_e) - 5,469.90 = 0\)
We use the quadratic formula and find the roots:
2.5658882124183746
1.0658882124183746
we use the positive one.
Getting an effective rae of 6.59%
Related Questions
A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?
Answers
$220,000
Explanation:
Calculation for the company's break-even point in dollar sales
Using this formula
Break-Even point in dollars sales= Fixed Costs ÷ Contribution Margin
Let plug in the formula
Break-Even point in dollars sales=$96,800/44%
Break-Even point in dollars sales=$220,000
Therefore the company's break-even point in dollar sales will be $220,000.
Dwight Donovan, the president of Rundle Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of five years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $108,000 and for Project B are $33,000. The annual expected cash inflows are $36,113 for Project A and $9,612 for Project B. Both investments are expected to provide cash flow benefits for the next five years. Rundle Enterprises’ desired rate of return is 8 percent. (PV of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.)
Answers
Using the Net Present Value approach, the project that Rundle Enterprises should pick based on the desired rate of return and cash flows is Project A.
What are the net present values?The net present value is the a criteria for picking projects by deducting the expenses from the present value of the cash flows.
The project with the higher net present value should be picked.
The net present value of project A is:
= Present value of cash inflows - Initial expenditure
= (36,113 x present value interest factor for an annuity, 8%, 5 years) - 108,000
= 36,113 x 3.99271 - 108,000
= $36,188.74
The net present value of Project B:
= 9,612 x 3.99271 - 33,000
= $5,377.93
The project with the higher net present value is Project A so it should be selected.
Full question is:
Compute the net present value of each project. Which project should be adopted based on the net present value approach?
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How and why would the accounting profession use the results of behavioural research in accounting
Answers
Answer:
Behavioral accounting is a subset of accounting that, in addition to accounting expertise, is concerned with behavior. It is concerned with people's attitudes and behaviors when confronted with an accounting phenomenon, which defines the actions that they will exhibit in decisionmaking. This accounting specialization addresses issues such as human informationprocessing activity, judgement accuracy, accounting problems caused by accounting information users and suppliers, and accounting information users' and producers' decisionmaking skills.
Behavioral psychology seeks to understand how people make choices, communicate with others, and affect economies and societies. The impact of accounting knowledge on conduct, administrative management (budget engagement, nonfinancial interventions, leadership, and balanced scorecard), auditing (auditorclient negotiations, auditor's judgement, and decisionmaking), and ethics (ethical decisionmaking, ethical orientation, and rationalizations for unethical behavior) are all included under the Behavioral accounting definition.
The accounting profession use the results of behavioural research in accounting so that they can understand the behaviour of different entities like a consumer or a retailer and use that in the accounting so that it can help in making a better conclusion.
What is research ?Research is a defined as the whole process of making hypothesis, collection of data; and analysis and interpretation of that data/information, in accordance with suitable methodologies and drawing the conclusion.
Behavioral research tries to find out how individuals make decisions, interact and influence other individuals, organizations, markets, and society. Behavioral research about individuals like consumers is used in accounting to analyze and study about the outcome or result like profits.
So we can say that behavioural research plays an important role in analyzing the data and for drawing the conclusion in accounting.
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High-Low Method for a Service Company Continental Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Continental Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,372,000 378,000 February 1,529,700 423,000 March 1,081,100 274,000 April 1,466,600 409,000 May 1,230,100 329,000 June 1,577,000 445,000 Determine the variable cost per gross-ton mile and the total fixed cost. Variable cost (Round to two decimal places.) $ per gross-ton mile Total fixed cost $
Answers
Answer:
$2.9 and $286,500
Explanation:
Variable cost per gross ton mile= [High transportation cost - Low transportation cost] / [High gross ton miles - Low gross to miles ]
= [$1,577,000 - $1,081,100] / [445,000 miles - 274,000 miles]
= $495,900 / 171,000 miles
= $2.9
Total fixed cost
= High operating cost - [High gross ton miles × Variable cost per gross ton mile]
= $1,577,000 - [445,000 miles × $2.9]
= $1,577,000 - $1,290,500
= $286,500
Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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Josh buys an $8000 10-year bond that has a coupon rate of 4.5 %. If he keeps the bond to maturity, how much interest will he collect?
Answers
Josh will collect $3600 in interest if he keeps the $8000 10-year bond with a 4.5% coupon rate to maturity.
To calculate the interest that Josh will collect from the 10-year bond with an $8000 face value and a coupon rate of 4.5%, we need to consider the annual interest payment and the total number of interest payments over the bond's lifespan.
The annual interest payment can be calculated by multiplying the face value of the bond ($8000) by the coupon rate (4.5%). This gives us an annual interest payment of $360 (8000 * 0.045).
Since the bond has a 10-year maturity, there will be a total of 10 interest payments over its lifespan. Therefore, the total interest Josh will collect can be calculated by multiplying the annual interest payment ($360) by the number of interest payments (10).
Total interest = Annual interest payment * Number of interest payments
Total interest = $360 * 10
Total interest = $3600
Therefore, if Josh keeps the bond to maturity, he will collect a total of $3600 in interest over the 10-year period.
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What are the reasons of marketing for Air Jordans shoes??
Answers
Answer:
to better their brand recognition and better their market shares through embracing social media and customer interactions.
Explanation:
How have cloud-based applications changed the way people edit documents?
Answers
We can actually deduce here that cloud-based applications has changed the way people edit documents by allowing multiple users to access, review and edit a document in real time but from different locations.
What is cloud-based application?A cloud application is actually known to be a software application that is known to be deployed in a cloud environment and not actually hosted on a local server but accessible via the internet.
Cloud computing is the technology that is changing how people store and share files. Documents can be stored in the cloud system for years and accessed from anywhere and at anytime.
We see here that with cloud collaboration multiple users can work on a document at real time.
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Question 3 (20 marks)
1. You need $3,000 to buy a new stereo for your car in 3 years. What value you must have now if the compounded annually return is 10%.
2. Your grandfather placed $5,000 in a trust fund for you. In 12 years what will be the worth of the savings. If the estimated rate of return on the trust fund is 8%?
Answers
1. At 10% compounded interest for three years, the value of investing $3,000 to buy new audio for your automobile is $2,253.94.
2. Compound interest on a $5,000.00 principal at an annual rate of 8% compounded once a year for 12 years equals $12,590.85.
What are the calculation steps?Calculation of Compound interest
Given Data
Principal = $5,000
Time = 12 years
Rate = 8%
Assuming a compounded interest approach
A = P + I
where;
P (principal) = $5,000.00
I (interest) = $7,590.85
Calculation Steps:
First, convert R as a percent to "r" as a "decimal"
\(r = \frac{R}{100}\\\\r = \frac{8}{100}\\\\r = 0.08 \text{ rate per year}\)
Then solve the "equation for A"
\(A = P(1 + \frac{r}{n}) nt\\\\A = 5,000.00(1 + \frac{0.08}{1})(1)(12)\\\\A = 5,000.00(1 + 0.08)(12)\\\\A = 12,590.85\)
Thus, at 10% compounded interest for three years, the value of investing $3,000 to buy a new radio for your car is $2,253.94, whereas the fund in which the grandfather invested $5,000 at an 8% rate of return will be worth $12,590.85 in 12 years.
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QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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Winn Co. enters into a 6-year finance lease for a copy machine with an interest rate of 8% (the present value of its $1,298 annual lease payments is $6,000). Winn will record the first-period lease payment with a debit to Right-of-Use Asset in the amount of?
Answers
Answer:
1298
Explanation:
Reason: Right-of-Use Asset is debited for the present value of the annual lease payment which is $1,298
This was not a necessarily an economically efficient move. The fact that it is scrap wood implies that it is not useful for the company's purposes, i.e., making furniture. It is presumptuous to associate a value of $150,000 or $29,000 to the scrap since there is no market for it and thus no market value can be assigned. There is no rational way to calculate the optimal amount of scrap wood. The manager did not go far enough. The most economically efficient outcome would be to reduce scrap altogether. Even at the reduced amount, the company is literally throwing away $29,000 per year when it could recoup that amount with greater diligence.
Answers
The manager's decision to reduce scrap wood is not economically efficient, and a more optimal outcome would be to aim for its complete elimination.
The manager's decision to reduce scrap wood, as mentioned in the provided excerpt, is deemed not economically efficient. While it is commendable, the most economically efficient outcome would involve completely minimizing scrap production. The fact that the wood is considered scrap implies its lack of usefulness for furniture manufacturing, making it inappropriate to assign a value of $150,000 or $29,000 to it since there is no existing market or ascertainable market value. Additionally, determining the optimal amount of scrap wood to maintain lacks a rational basis. Despite the manager's efforts, the company still wastes $29,000 annually, which could be salvaged through greater diligence. Thus, the recommended course of action is to aim for a total reduction in scrap production to achieve the utmost economic efficiency.In conclusion, while the manager's effort to reduce scrap wood is commendable, the most economically efficient outcome would be to strive for the complete elimination of scrap, minimizing waste and maximizing cost savings for the company.
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Why is the skills of Nurse Practitioner
going to be in such high demand in the
future?
Answers
Answer:
There are several contributory factors for greater demand for professional nurses in the future, some of which are: lower cost of the workforce and greater autonomy to assume responsibilities.
Explanation:
It is possible to see an increase in the demand for nursing professionals, and this demand will continue to increase in the future, and the reasons for this increase is the increase in the valuation of the profession, since there is still a lack of primary care doctors, being nurses the most suitable professionals to assume this position, having for this reason an increase in responsibilities, such as autonomy in the decision-making process, the possibility of prescribing medications and tests to certain patients.
There is also the fact that they provide essential care to the patient with a satisfactory cost-benefit, and these professionals are also able to provide family care and in outpatient centers, where the presence of nurses is extremely necessary. Therefore, it will be increasingly necessary for nurses to qualify and develop skills in the decision-making process.
what amount of Capital could be raised by Transnet
Answers
The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
What is Transnet?This is the name of a railroad company that was established in South Africa. The company is known for the fact that it is a port, a rail and a pipeline company in the nation.
According to the goals of the company, there goal is to grow the business to have a R100 billion business by 2020. This business is a limited liability company that is owned majorly by the Department of Public Enterprises of South Africa. The government of the country are known to be the sole share holder that the business has in the nation.
So based on the question that we have here we can conclude that the The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
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Account Name
Debit
Cash
Accounts Receivable
Inventory
Prepaid Expenses
$1,000
Property, Plant and Equipment
Accumulated Depreciation
Accounts Payable
Wages Payable
Notes Payable
Capital Stock
Retained Earnings
Sales Revenue
Operating Expenses
Total
$15,000
$5,000
$20,000
$209,000
Credit
$100,000
$10,000
$12,500
$2,500
$20,000
$50,000
$10,000
$75,000
$20,000
$209,000
Answers
The statement shοwn in the given data is a Adjusted trial balance. Thus, οptiοn A is cοrrect.
What is Adjusted trial balance?The general ledger accοunt balances are shοwn in an adjusted trial balance fοllοwing any revisiοns. These changes οften cοver depreciatiοn, prepaid expenses, accruing expenses, and οther nοn-cash cοsts. It's that easy. The adjusted trial balance is presented οn a cοmpany's financial statements, which include essential details regarding earnings and lοsses, cash flοw, and expenses. It is prepared at the cοnclusiοn οf an accοunting periοd, which is the end οf the fiscal year.
Accοunts Receivable is mοney οwed tο the business by custοmers fοr gοοds οr services that have been delivered but nοt yet paid fοr. Inventοry is the gοοds that a business has οn hand fοr sale. Prepaid Expenses are payments made in advance fοr gοοds οr services tο be received in the future. The debit entry fοr these accοunts is fοr $1,000 as the business is paying $1,000 fοr cash, accοunts receivable, inventοry, and prepaid expenses.
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Complete question:
Given a component of statement. What type of statement or account type does this component of statement provides based on the data given?
Adjusted trial balanceBalance SheetP & L AccountTrading account
George smyth opened a computer repair business
Answers
The entries are made as
Apr. 1
DR Cash $30,000
CR Capital $30,000
Apr. 2
DR Rent Expense $2,100
CR Cash $2,100
Apr. 8
DR Equipment $12,000
CR Bank $3,000
CR Accounts Payable $9,000
Apr. 12
DR Cash $3,200
DR Accounts Receivable $1,200
CR Sales $4,400
Apr. 19
DR Utility Bill $225
CR Cash $225
Apr. 25
DR Cash $900
CR Accounts Receivable $900
What is journal entry?Journal entry is recorded to report the transactions of a company the journal entries are made as follows for the business of computer repair by George Smyth
Cash is debited while capital is credited
Rent expense is debited while cash is credited
Equipment is debited while bank and accounts payable is credited
Cash and account receivable is debited while sales is credited
Utility expense is debited and and cash is credited
Cash is debited and accounts receivable is credited
Missing part of the question is: on Apr. 1, 20--. During the first month of operations, the firm had the following transactions.
Apr. 1 George Smyth invested $30,000 cash in the business.
2 Paid rent for April, $2,100.
8 Bought equipment for $12,000 and issued a check for $3,000 as a down payment.
12 Performed services for $3,200 in cash, and $1,200 on credit.
19 Paid electric bill, $225.
25 Received $900 on account from credit customers.
Required:
Record these transactions on page 1 of the general journal
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Which of the following would appear in the cash flows from investing activities section of the statement of cash flows?
a. Cash received from stock issued
b. Cash received from bonds payable
c. Depreciation expense on equipment
d. Cash paid for equipment
Answers
The correct answer is:
d. Cash paid for equipment
Cash flows from investing activities include transactions related to the acquisition or sale of long-term assets such as property, plant, and equipment. Cash paid for the purchase of equipment would be categorized as an investing activity because it involves the outflow of cash for the acquisition of a long-term asset.
What will produce more accurate results when giving a survey?
A. Using the word "frequently" in a question
B. Creating face-to-face interviews
C. Adding boxes to check for answers
D. Creating an open questions
Answers
Answer:
Option B; Creating face-to-face interviews
Explanation:
Research has shown that face-to-face interviews tend to produce more accurate results when giving a survey. So the correct answer is option B.
Do you believe the statement "perception is reality"? Why or why not?
Answers
Here’s an excellent example from history.
For 28 years, the Berlin Wall separated East Berlin from West Berlin and was the most heavily militarized border crossing in the Western hemisphere. In 1989, during a press conference with western media, Gunther Schabowski was handed a note explaining a change in policy governing border crossing. Several discussions took place about making a show of opening the border between East and West Germany, but nobody informed Schabowski.
At the end of the press conference, he appears to have remembered the note belatedly, and read it verbatim—which was not what was intended. When asked about when the border would open, he assumed it was immediate.
The reality of course was that East Germany had no intention of opening the border, and certainly not immediately.
Within hours, the border crossing was practically buried under thousands of East Germans eager to be reunited with their families and other loved ones after 28 years on the press conference, which had been broadcast live.
The East Germans believed what they were told: Schabowski said immediately, and they intended to go immediately.
Border guards kept calling for instructions, until finally, they relented.
Perception became reality, and the border between East and West Berlin opened, spelling the de facto end of the separation of Germany.
273 viewsView 2 Upvoters · Answer requested by Never Wong
Related Questions (More Answers Below)
According to Feiler, what is the good news about families today? What is the bad news and the worst news? Have you witnessed any examples of the good or bad news about families personally?
Answers
A new approach to family dynamics, inspired by cutting-edge ideas gathered from specialists in the fields of science, business, sports, and the military, has been outlined in The Secrets of Happy Families by New York Times bestselling author Bruce Feiler.
According to Feiler, What is the secret of happy families?Despite all the new studies on individual happiness, spending time with the people you care about may be quite fulfilling. In actuality, it is the best indicator of overall life pleasure. The pace and demands of everyday life leave almost everyone feeling fully exhausted, and this tiredness has a significant negative impact on family harmony.
Numerous studies have found that stress is the top issue for both parents and kids. This refers to both internal and external stress. Additionally, stressed parents pass that stress on to their kids. Parental stress damages children's brains impair their immune systems, and increases their chances of obesity, mental disease, diabetes, allergies, and even tooth decay, according to studies.
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Explain the core functions of organizational culture.
Answers
The core functions of organizational culture are to provide a shared identity and guidelines for behavior, shape employee motivation and productivity, and influence organizational performance and interactions with stakeholders.
Organizational culture refers to the shared values, beliefs, attitudes, and practices that shape the behavior of individuals within a company. Its core functions are to create a sense of identity and unity among employees, provide guidelines for behavior, and help employees understand the organization's mission and goals. Culture also affects employee motivation, engagement, and productivity.
It influences the recruitment and retention of employees, shapes the way decisions are made, and determines how the organization interacts with stakeholders. Effective organizational culture fosters innovation, collaboration, and adaptability, while a negative culture can lead to high turnover, low productivity, and poor performance.
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Which non-income factor for a potential job would influence a person who values easy access to entertainment and culture?
a
Job security
b
Working hours
c
Location
d
Availability of benefits
Answers
Answer:
C
Explanation:
Do to the rEASON I FOUND ONLINE
The non-income factor for a potential job that would influence a person who values easy access to entertainment and culture is Location.
What do you mean by the job?A job refers to the specific task that needs to be done as part of the routine of one's occupation for an agreed price.
The non-income factor for a potential job that would influence a person who values easy access to entertainment and culture is Location.
Therefore, C is the correct option.
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8. Two firms produce luxury ostrich skin auto seat covers, Gantsi-Westem (GW) and Sandveld Skins (SS). Each firm has a cost function given by C(q)- 30q+ 1.5q 2 The market demand for these seat covers is represented by the inverse demand equation P-300-3Q where Q-ql + q2, total output. a If each firm acts to maximise its profits, taking its rival's output as given (ie, the firms behave as Coumot oligopolists), what will be the equilibrium quantities selected by each firm? What is total output, and what is the market price? What are the profits for each firm? (6 marks) a. bi t occurs to the managers of GW and SS that they could do a lot better by colluding. If the two firms collude, what will be the profit-maximising choice of output? The industry price? The output and the profit for each firm in this case? (6 marks)
Answers
At profit maximization, the value of q1 = 30 -1/3q2
What is profit maximization?In order to identify the output level that will garner the most profit for a business, its management should determine where marginal revenue and marginal cost converge.
Marginal revenue is the additional amount of income produced with the sale of one more product while the marginal cost refers to the expenses incurred upon adding another item to the production cycle.
The point at which marginal revenue and marginal cost meet is deemed to be the profit-maximizing output level - the highest degree of profits obtained by the firm.
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What company advertised the most in 2023?
Answers
The company which made most advertisement in 2023 includes Goo/gle, Netflix and Uber through internet, which is a popular medium of advertising.
Why is internet a popular medium of advertising?The internet has become a popular medium of advertising due to its wide reach, cost-effectiveness, and ability to target specific audiences. With the internet, businesses can reach a vast number of people globally through various channels, such as search engines, social media, email marketing, and display advertising.
Moreover, advertising on the internet is cost-effective as it allows businesses to run campaigns with low budgets and track the performance of their campaigns in real-time. Additionally, the internet enables businesses to target specific audiences based on demographic, geographic, and behavioral factors, which ensures that their advertising messages reach the right people at the right time.
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Classify each of the following as a(n) Operating Activity, Investing Activity, or Financing Activity. 1. Issuance of bonds. select a type of activity 2. Sale of equipment. select a type of activity 3. Amortization expense. select a type of activity 4. Purchase of treasury stock. select a type of activity 5. Receipt of dividends on investment. select a type of activity 6. Purchase of land. select a type of activity
Answers
Answer:
1. Issuance of bonds
Cash-flow classification: Financing activity
2. Sale of equipment
Cash-flow classification: Investing activity
3. Amortization expense
Cash-flow classification: Operating activity
4. Purchase of treasury stock
Cash-flow classification: Financing activity
5. Receipt of dividends on investment
Cash-flow classification: Operating activity
6. Purchase of land
Cash-flow classification: Investing activity
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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50K in 2018 what does it mean or what is it?
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Answer:
50K in 2018 means that 50,000 dollars were earned in the year 2018, so this could refer to the annual income of a person or a household.
This would be equivalent to a monthly wage of 4,166 dollars each month, because 50,000 / 12 = 4,166.
This wage would be very close to the median wage in the United States.
All of the groups that have an interest in an organization's success and outcomes are known as the organization's
A) Investors
B) Agencies
C) Shareholders
D) Stakeholders
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Answer:
D) Stakeholders
Explanation:
A stakeholder is any person, firm, or group that has an interest in the performance of a project, event, or institution. Stakeholders are affected in one way or another by the outcome of an event or process. For a business organization, stakeholders are the people likely to incur losses or benefits depending on its financial performance. They include employees, investors, suppliers, shareholders, the government, and management.
Bruv, Help! How do I convince my strict parents to get me LED lights for my room??
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Answer: Well, if your parents say no, then that's no, but you can just ask nicely, "May i have LED lights in my room, i really like them, and i would appreciate it if im allowed to but i understand if i can't."
Explanation:
Explanation:
Tell them as a student you need it in learning . like you need them whenever you are learning at dawn
How is the net refrigeration effect calculated?
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Refrigeration deduct the enthalpy of the liquid entering the evaporator (He) from the vapour leaving the evaporator to determine the NRE (Hl). The formula uses BTUs/lb for all of its units.
The Net Refrigerating Capacity, which is the measured in tonnes of refrigeration and is expressed in kCal/h, is the product of the mass flow rate of the water in the evaporator and the difference in enthalpy of water entering and leaving the cooler. The refrigeration effect states that cooling should occur at the same rate as heat is absorbed at any location within a cycle the performance coefficient.
To learn more about refrigeration, click here.
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