Answer:
ok whats the question
Explanation:
madison outlet has the following inventory transactions for the year: date transaction numbers of units unit cost total cost january 1 beginning inventory 10 $200 $2,000 march 14 purchase 15 300 4,500 $6,500 january 1 to december 31 total sales to customers 12 what amount would madison report for cost of goods sold using fifo?
The cost of goods sold for Madison outlet using the FIFO inventory method is $2,600.
What is the cost of goods sold?
FIFO is an abbreviation for first in, first out. FIFO is an inventory method that postulates that the first inventory to be bought is the first to be sold. This means that when a unit of inventory is sold, it is assumed that it is sold from the inventory purchased at the earliest. The ending inventory is made up of inventory that was purchased latest.
Other inventory methods are last in, first out (LIFO) and the average inventory method.
Using the FIFO inventory method, the 12 sales to customers would be taken from the beginning inventory and the inventory purchased on March 14.
Cost of goods sold = $2000 + (2 x $300)
$2000 + $600 = $2,600
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a company's cash receipts procedures include the following. cashiers collect cash and issue a receipt at the point of sale. supervisors take custody of the cash at the end of each cashier's shift and deposit it in the bank. accounting staff then ensure the receipts from cash sales are properly recorded in the accounting system. which internal control principle is most evident with these procedures? a. independently verify b. segregate duties c. document procedures d. restrict access
Segregation of duties internal control principle is most evident with the company's cash receipts procedures.
Segregation of tasks is one of the fundamental ideas in establishing internal controls over a company's assets. One important internal control is the separation of duties, which prevents employees from being able to commit fraud or errors while also covering them up while performing their regular duties.
It has two main benefits: It guarantees that there will be oversight and evaluation to find mistakes and due to the fact that it takes two employees to conspire in order to conceal a transaction, it helps to prevent fraud and theft.
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bly and ahmik are partners in a sandwich shop. they have been struggling for the last couple of years and, finally, decide to close the sandwich shop and dissolve the partnership. during the winding-up process, ahmik spends most of his time pursuing his next venture, so bly is handling most of the work involved in collecting and preserving partnership assets and paying the debts of the partnership. if bly requests payment for his services in winding up the partnership:
As Bly is the only one who is giving his maximum time in winding up the partnership by preserving the assets and paying the debts, thus he is entitled to payment for those services.
What is a partnership business?A partnership business refers to the formal agreement generally made by two or more person to jointly manage and operate a company for the attainment of the particular goals.
Partnership business is a type of business that consists of two or more people who combine their resources in order to establish a business and agree to share risks, profits and losses.
Basically, in partnership business each partner contributes money, property, labor or skill, and shares in the profits.
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high step shoes had annual revenues of $188,000, expenses of $105,200, and dividends of $19,200 during the current year. the retained earnings account before closing had a balance of $300,000. the entry to close the income summary account at the end of the year, after revenue and expense accounts have been closed, is:
The entry to close the income summary account at the end of the year, after revenue and expense accounts have been closed, is: Net income
This is further explained below.
What are annual revenues?Generally, The sum of all of a company's earnings that it brings in over the course of a calendar year through the sale of its goods, services, or other holdings is referred to as its annual revenue.
Your annual income does not take into account any of your costs in any way. On income statements, the word "sales" is often used as a synonym for "revenue" because of this reason.
The net profits of the firm are used to determine the amount of retained earnings.
After the company's net earnings have been moved to the retained earnings account, the dividend will then be paid out to the company's shareholders. Initially, the retained earnings account will be funded with the net earnings.
In conclusion, the equation for the Net income is mathematically given as
N=annual revenues- expenses
Therefore
N = 188,000 - 105,000
N= $83,000
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using compounding, how much interest will be earned in the second year of a savings account that has an original balance of $100 and earns 5 percent interest per year?
$125 simple interest will be earned within the second year.
We can use a simple interest basis,
A = P(1 + in)
A = 100(1 + 0.05(five) )
= $125 at the stop of the 5th year.
Simple interest is a quick and clean method for calculating the interest price on a loan.
Simple interest is decided with the aid of multiplying the day-by-day hobby fee thru the importance via the use of the range of days that elapse among bills.
Simple interest is calculated with the following system: S.I. = P × R × T, where P = most important, R = rate of interest in % in line with annum, and T = Time, generally calculated as the extensive type of years. The charge of interest is in percentage r% and is to be written as r/100.
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the marketing team of 7 star inc., a company manufacturing smartphones, is currently studying the size, density, location, age, adn occupation of its target market
A company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market then in this scenario demographic environment has been studied.
Statistics used to define populations and their features are called demographics. A population's characteristics, such as age, race, and sex, are studied through demographic analysis. Statistics expressing socioeconomic information of smartphones, such as employment, education, income, marriage rates, birth and death rates, and more, are referred to as demographic statistics.
For a variety of objectives, including economic market research and policy formation, governments, businesses, and non-governmental groups utilize demography to learn more about the characteristics of a population. For instance, a firm that sells smartphones high-end RVs would wish to target customers who are approaching or are already retired and increase the number of people who can afford their goods.There are several methods to utilize demographic data to understand a population's characteristics in general.Learn more about Demographic, here
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job description should ideally be developed jointly by the department manager and human resources without the involvement of the persons who may presently be performing the job.
The statement is false.
The required details about job description is mentioned in below paragraph.
A job description is a formal explanation of the essential competencies, obligations, and skills required to carry out a certain activity. A thorough job description will detail how success in the position is assessed for use in performance reviews.
A job description's worth.
In order for candidates to decide whether the position fits with their skill set and whether it is a job they genuinely want to undertake, a job description is a crucial component of the job application process.
According to the organization, the job description is essential to ensuring that the applicants for the post closely reflect the requirements of the role itself.
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In the pastJan's Dance Studio charged a late fee if monthly tuition payments were received after the due date. A behavioral economist suggested raising monthly tuition by $5 and giving a 5 discount for on-time payments. To the owner's great surprise, the number of late payments decreased dramatically after she followed this advice. What psychological factor might explain this phenomenon ?
After she took this suggestion, the number of late payments dropped significantly. A psychological component that explains this phenomena is framing bias.
The definition of framing biasThe term "framing bias" refers to the finding that how data is presented can have an impact on how people make decisions. The tale of Tom Sawyer whitewashing the fence by Mark Twain is the most well-known instance of framing bias. He persuaded his pals to pay him for the "honor" of completing his task by framing the chore in positive terms.
These people rely on language structure to convince them rather than facts and data. For instance, it is more probable that investors will respond favorably if an investment product is presented in an upbeat manner.
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starforce avionics makes aircraft instrumentation. its basic navigation radio requires $60 in variable costs and $3,000 per month in fixed costs. further processing the radio, to enhance its functionality, will require an additional $26 per unit of variable costs but no change to the fixed costs. the marketing manager believes that the company would be able to increase the sales price from $270 to $290. if starforce decides to further process the product, operating income would: question content area bottom part 1 a. decrease by $6 per unit b. remain the same c. increase by $86 per unit d. increase by $26 per unit
If Starforce decides to further process the product, operating income would decrease by $6 per unit. Though there is increase in Gross Income per unit.
As we know that,
Operating Income = Gross Income – Operating Expenses
Increase in Gross Income per unit is :
$290 - $270= $20
Given, there is an additional $26 per unit of variable costs but no change to the fixed costs to further process the product.
Change in Operating Income = Change in Gross Income – Change in Operating Expenses
= $20- $26
= - $6
Negative sign indicates a decrease in the Operating Income.
Hence, operating income would decrease by $6 per unit.
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private and nonprofit sectors are encouraged to develop contingency plans and to work with state; tribal; and local planners to ensure that their plans are consistent with other pertinent plans.
Private and nonprofit sectors are encouraged to develop contingency plans and to work with state; tribal; and local planners to promote that their plans are consistent with other pertinent plans. -------True
The given statement is correct .
What does contingency plan mean?
A contingency plan is defined as a course of action designed and framed to aid an organization to respond effectively to a significant future incident, event or situation that may or may not happen.
What is the difference between private and nonprofit?The most important difference between a private foundation and a public charity is the way in which funds are acquired.
A private foundation is commonly funded by an endowment from a single source, while a public charity must continually solicit donations from an individuals and organizations.
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kellen builders decides to move production to a developing country where they are free to pump pollutants into the atmosphere without legal restriction. by doing this, the company is contributing to quizlet
By moving production to a developing country where Kellen builders will be free to pump pollutants into the atmosphere without legal restriction, the company is contributing to the global tragedy of the commons.
The global tragedy of the commons can be described as a problem in which the people in authority overuse a resource or cause such a problem that others also have to face the consequences for it. By having the authority of a resource, the authoritative people consume the resource as per their own will hence causing problems for others.
In the case above, the developing country, being the authoritative figure, has given permission to Kellen builders for pumping pollutants into the atmosphere. This will lead to a depletion in the amount of fresh air and ozone layer and hence will be a global tragedy that all commons will have to face.
Although a part of your question is missing, you might be referring to this question:
Kellen builders decide to move production to a developing country where they are free to pump pollutants into the atmosphere without legal restriction. By doing this, the company is contributing to
corporate social responsibility.
corruption.
cultural relativism.
the global tragedy of the commons.
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a manager who privately and confidentially shares opinions about an ex-employee with a peer at another facility is making his or her own organization vulnerable to certain legal charges.
Yes, a manager who privately and confidentially shares opinions about an ex-employee with a peer at another facility is making his or her own organization vulnerable to certain legal charges.
Leaders can notice and learn if staff members need support or assistance by being visible, accessible, and compassionate. One of the most crucial principles a leader or management should understand is the influence of assisting their colleagues in their work.
More than just being noticed, visible leadership is active. The board's responsibility to establish a culture that demonstrates an organization's values and mission while considering employee and community feedback is unwavering. Leadership and employees communicate in total transparency.
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the trial balance of rollins incorporated included the following accounts as of december 31, 2024: debits credits sales revenue $ 6,700,000 interest revenue 44,000 loss on sale of investments $ 20,000 loss on debt investments 182,000 gain on projected benefit obligation 300,000 cost of goods sold 5,120,000 selling expense 480,000 restructuring costs 220,000 interest expense 10,000 general and administrative expense 380,000 the loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. rollins had 100,000 shares of stock outstanding throughout the year. income tax expense has not yet been accrued. the effective tax rate is 25%. required: prepare a 2024 separate statement of comprehensive income for rollins incorporated.
Rollins Inc. ROLLINS INC. Statement of Comprehensive Income trial balance is prepared below :
Trial balance :A trial balance is defined as a financial report showing the closing balances of all accounts in the general ledger at a point in time. Creating an trial balance is the very first step in closing the books at the end of an accounting time . A trial balance can be a list of all the general ledger accounts contained in the ledger of a business. This list would contain the name of every nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Trial balance :For the year ended December 31, 2024:
Sales revenue $6,700,000
Cost of goods sold -4,400,000
Gross profit $1,500,000
Selling expense 480,000
General and administrative expense 300,000 -380,000
Operating Income $800,000
Interest revenue 40,000
Interest expense -20,000 20,000
Income before taxes $820,000
Income tax (25%) -205,000
Income after tax $615,000
Other comprehensive income:
Gain on projected benefit obligation 260,000
Restructuring costs -190,000
Loss on sale of investments -10,000
Loss on debt investments -160,000 -100,000
Other comprehensive income $515,000
Elaboration :Data and Calculations:
Trial Balance as of December 31, 2021:
Debits Credits
Sales revenue 5,900,000
Cost of goods sold 4,400,000
Interest revenue 40,000
Interest expense 20,000
Loss on sale of investments 10,000
Loss on debt investments 160,000
Gain on projected benefit obligation 260,000
Selling expense 400,000
Restructuring costs 190,000
General and administrative expense 300,000
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if an investor has an established margin account with a current market value of $6,000 and a debit balance of $2,500, with regulation t at 50%, how mu
The investor will have buying power of $1000 with current market value of $6000.
Buying Power :Buying power is that the money an investor has available to purchase securities. Buying power equals the entire cash held in the brokerage account plus all available margin. A typical margin account provides two times equity in buying power.
Buying power means to a customer's ability to reduce prices, enhance quality, or “commonly play industry participants off one another.
Simplification :The Regulation T requirement is 50% Of current market value
current market value = $ 6000
50% of $6000
= $3000
Equity is equal to current market value
= $6000 - debit balance
= $6000 - $2500
= $3500
Excess equity = current equity - Regulation T requirement
= $ 3500 - $3000
= $ 500
Buying power = excess equity × 2
= $ 500 × 2
= $ 1000
Hence, the investor will have $ 1000 buying power.
Current market value :
The current market value (CMV) gives parties interested in making a transaction the approximate current resale value for a financial instrument or asset. Current market price is related to an asset's liquidity, which is that the ease of which an asset can be converted from an investment into cash.
Question is incomplete , missing part is given below :
If an investor has an established margin account with a current market value of $6,000, and a debit balance of $2,500 with Regulation T at 50%, how much buying power does the investor have?
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When an entrepreneur creates economic value by changing their personal tacit knowledge about a novel business process or innovation into explicit knowledge that can be franchised, this is an example of what knowledge management activity?.
When an entrepreneur creates economic value by changing their personal tacit knowledge about a novel business process or innovation into explicit knowledge that can be franchised, this is an example of a knowledge management activity called "Utilizing Knowledge"
What is knowledge management?It is to be noted that there are four basic Knowledge Management activities that may or may not be fully or partially synthesized into any operating model. They are:
CreatingStoring Sharing andUtilizing knowledgeKnowledge management is the collection of ways for developing, distributing, using and managing an organization's knowledge and information.
It refers to a comprehensive approach to achieving organizational goals by making the greatest use of information.
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question 2 during which step of the quality management process does a project manager ask questions such as: ""how will i determine if the quality measures will lead to project success?"" and ""what outcome do my customers want at the end of this project?"" 1 point
A project manager asks these questions at the quality planning stage of the quality management process.
How does the quality management process work?The majority of businesses normally adhere to a set of methods known as a quality management process to guarantee the caliber of the deliverables. Establishing quality goals that have the customers' approval is typically required to start a QMP.
What is the step of quality planning?The process of selecting what is most crucial to the project is called quality planning. This happens when you're preparing a project and deciding what elements are essential for its success. This covers the tools required to complete the project, the procedures to follow, and the requirements that must be satisfied.
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suppose it costs both mcdonald’s and wendy’s $3 (cogs) per their value meal offerings, each sold at the same price of $4. assume that the cost of inventory for both companies is 30 percent a year. approximately how much does mcdonald’s save in inventory cost per value meal compared to that of wendy’s? you may assume that inventory turns are independent of the price.
$ 0.0222 per unit is the inventory that turns independent of the price.
Inventory
Inventory, often known as stock, refers to the items and supplies that a company keeps for the purpose of resale, manufacturing, or use. Inventory management is largely concerned with establishing the shape and positioning of stocked products.
McDonalds Inventory: $129.40 Revenue: $17,140.50 COGS: $11943,70 Gross Profit: $5,196.80
Wendy's Inventory: $54.40 Revenue: $3148.90 COGS: $1534.60 Gross Profit: $1513.40
Inventory Turnover Ratio = COGS/Inventory
McDonalds = 11943.70 / 129.40 = 92.30
Wendy = 1534.60 / 54.4 = 28.21
Holding Cost for one unit
McDonalds = 0.3 [tex]\times[/tex] $ 3 [tex]\times[/tex] 1/92.3 = $ 0.0097
Wendy = 0.3 [tex]\times[/tex] $ 3 [tex]\times[/tex] 1/28.21 = $ 0.0319
Higher for Wendy = .0319 -.0097 = $ 0.0222 per unit
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Inventory began was $30,000. During the period the company purchased $61,000 of merchandise. At the end of the period, inventory was $22,000. If the gross profit percentage was 40%, what was sales revenue?.
If during the period the company purchased $61,000 of merchandise and at the end of the period, inventory was $22,000. If the gross profit percentage was 40%, The sales revenue is $115,000.
Sales revenueUsing this formula to determine the company sales revenue
Sales revenue = Beginning inventory + Merchandise - Ending inventory / (1- Gross profit percentage)
Where:
Beginning inventory = $30,000
Merchandise = $61,000
Ending inventory = $22,000
Gross profit percentage = 40%
Let plug in the formula
Sales revenue :
Sales revenue= $30,000 + $61,000 - $22,000 /(1- .40)
Sales revenue = $69,000 /0.60
Sales revenue= $115,000
Therefore we can conclude that the company has sales revenue of the amount of $115,000.
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what corporate diversification strategy is being pursued by disney? what evidence do you have that supports your position? how does the corporate office create a parental advantage, which is difficult to duplicate by its more focused competitors? what are synergies and economies of scope and how do they work at disney to lower its overall costs? given the diversification approach that disney uses, what are some things that they can do to deal further with the trend toward cord-cutting and competition from large streaming and content producers such at netflix, amazon, and other content producers?
The Walt Disney Company has developed a strategy that pursues diversified business operations in an effort to maintain its competitive edge.
What is corporate diversification strategy ?
When businesses want to expand, they use a diversification approach. In order to boost revenues, it is a practice to add a new product to your supply chain. These goods may represent a new subset of the market that your organization already serves, a strategy known as business-level diversification. Instead, if you enter a new market, corporate-level diversification takes place.
One of the four growth techniques popularized by Igor Ansoff is diversification. One of these growth strategies is more likely to be a fit for your business than the others, depending on the sector, size, and goals of your organization.
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1. what impacts do economic forecasts have on a firm’s functional areas? if management learns from the economic analysis of country a that wage rates are expected to increase by 10% next year, which functional areas of the firm will be concerned? why will this be of concern to management?
Forecasting helps businesses develop data-driven strategies and choices. Market conditions and predictions influence operations and finances.
This is further explained below.
What is Economic Forecasting?Generally, The technique of projecting the status of the economy by drawing from a broad range of commonly recognized indicators is known as economic forecasting.
Economic predictions are used by decision-makers in industry and government to assist in the formulation of future monetary and fiscal policies, as well as the planning of operational activities.
As a result of how controversial politics are, many reasonable people don't put much stock in the economic projections that are generated by the government.
Private-sector economists often get their forecasts incorrect because economic forecasting is difficult and susceptible to subjective human behavioral variables.
Forecasting is beneficial to businesses because it helps them to establish plans that are supported by facts and make intelligent choices about their operations.
The current situation of the market as well as projections for its development in the future are taken into consideration when making decisions about business operations and finances.
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the inquiry analysis step of the iddr approach to ethical analysis of business decisions involves identifying the select and collecting the relevant select .
Inquiry analysis is the analysis where the information prior is collected and then the decision is matched with the outcome of results.
Ethical analysis is done on the product of the business which has gone to the process of the production. It involves the identification, decision making and realization of profit from the sales.
Iddr approach is the proper one from the identification, detection, decision making and reporting to the final results. Collecting enough data and sampling and relevant explanation with the examples should be made. Inquiry analysis is also helpful.
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suppose that canada produces two goods: lumber (y) and fish (x). it has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.
The opportunity cost of producing 1 foot of lumber is 2 fish.
What is Opportunity cost?When economists discuss the "opportunity cost" of a resource, they mean the value of the next-highest-valued alternative use of that resource. If you expend time and money driving to the movies, you can't expend that period reading a book at home, and you can't finish that money on something else."When a decision is made, the value of the next-best alternative is what is given up," Andrea Caceres-Santamaria, senior economic education specialist at the St.Opportunity cost is the value of what you lose when choosing between two or more options. When you make a decision, you believe that it will be sufficient for you regardless of whether or not you succeed.Hence,
a. 10 feet x 18 million employees = 180 million talons
b. 20 fish x 18 million employees = 360 million fish
c. The opportunity cost of producing one foot of lumber is equal to two fish. As a result, the opportunity cost of producing 60 million feet of lumber is equivalent to 120 million fish. Canada can only produce 360 - 120, or 240 million fish, if it produces 60 million feet of lumber.
The complete question is:
Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.
a. What is the maximum amount of lumber Canada could produce in a day?
b. What is the maximum amount of fish it could produce in a day?
c. How many fish can be caught if 60 million feet of lumber are cut.
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which best describes an uninformed consumer?responsesbuys products based on celebrity endorsementsbuys products based on celebrity endorsements,knows how to identify reliable, trustworthy sources of informationknows how to identify reliable, trustworthy sources of information,careful not to buy every fad that appears on the marketcareful not to buy every fad that appears on the market,aware of quackery
Buys products based on celebrity endorsements describes an uninformed consumer.
Celebrity endorsements are used by businesses to market and sell their goods to consumers. A celebrity's endorsement of a product does not necessarily imply that they utilise it or that it is a quality item. Long-term brand awareness and short-term sales growth are both aided by celebrity endorsement.
A consumer must be knowledgeable about every aspect of a product and determine whether it can in any way satisfy his needs. The launch of a new product, the growth of a market, or the repositioning of a brand are all excellent examples of significant changes that can be marked by celebrity marketing. Therefore, relying solely on celebrity endorsements to make a purchase reveals an ignorant consumers.
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consider two items that might be included in gdp: (1) the estimated rental value of owner-occupied housing and (2) purchases of newly-constructed homes. how are these two items accounted for when gdp is calculated?
The two items accounted for when GDP is calculated is Item (1) is included in the consumption component of GDP, while item (2) is included in the investment component of GDP.
Gross domestic product is a monetary measure of the market value of all final goods and services produced and sold by a country in a given period of time. Due to its complex and subjective nature, this indicator is often revised before being considered a reliable one.
GDP = private consumption + private gross investment + government investment + government expenditure + (exports – imports). GDP is usually calculated by a country's national statistical agency according to international standards.
GDP measures the monetary value of the final goods and services produced in a country (that is, purchased by final consumers) over a specified period of time (such as a quarter or a year). Counts all electricity generated within a country's borders.
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jenny enterprises has just entered a lease agreement for a new manufacturing facility. under the terms of the agreement, the company agreed to pay rent of $17,000 per month for the next 7 years with the first payment due today. if the apr is 7.56 percent compounded monthly, what is the value of the payments today?
Jenny enterprises have just entered a lease agreement for a new manufacturing facility. the value of the payments today is
Value of payments today = 1113170.60
This is further explained below.
What are enterprises?Enterprise is another term for a corporation or firm that operates for the purpose of making a profit; nevertheless, the term is most often used to refer to activities undertaken by entrepreneurs.
People who have been successful in business sometimes have the adjective "enterprising" attached to their names. There are many other kinds of legitimate businesses, but the one that is most widespread in the United States is the corporation.
rate per month r= 0.63%
Number of months n = 84
Rent per month P = 17000
Generally, the equation for the Value of payments today is mathematically given as
Value of payments today [tex]= P + \frac{P*(1-(1+r)^{-(n-1))}}{r}[/tex]
Value of payments today = [tex]17000 + \frac{ 17000 * 1 - (1+0.63 \%)^{-(84-1)} }{ 0.63 \%}[/tex]
Value of payments today = 1113170.60
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assume that in the year 2010, the us nominal gdp was $15 trillion, while the gdp deflator was 200. calculate the us real gdp for 2010. group of answer choices $0.75 trillion $300 trillion $7.5 trillion $30 trillion
Assuming that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200, then, the US Real GDP for 2010 will equals to $7.5 trillion
What is a Real GDP?This refers to an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year which is expressed in base-year prices and often referred to as constant-price GDP, inflation-corrected GDP etc.
To calculate out Real GDP. We are using this formula "Real GDP=Nominal GDP/GDP deflator×100"
Where: Nominal GDP=$15 trillion, GDP deflator=200
Real GDP = $15 trillion/200 × 100
Real GDP = $7.5 trillion
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why is marketing return on investment (roi) so difficult to measure? question content area bottom part 1 a. customer-centered measures are inconvenient. b. the market economics constantly change. c. marketers do not keep adequate records. d. marketing dashboards are inconsistent. e. there is no consistent definition.
Option (e), which states that there is no uniform definition, is the correct response.
Why is it so difficult to calculate the return on investment (roi) in marketing?The fact that marketing initiatives are continual is one reason why they are challenging to monitor. Nevertheless, we compute ROI across predetermined time frames. As a result, there must be a defined start and end date for the analysis of marketing ROI. Choosing the right metrics to use is another difficult decision.
Marketing return on investment (ROI) measurement is challenging for three main reasons:
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What does it mean to underwrite a share issue?
Explanation:
What does it mean to underwrite a share issue
10. frederickson office supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. the company had no amortization charges and no non-operating income. it had $8,000 of bonds outstanding that carry a 7.5% interest rate, and its federal-plus-state income tax rate was 40%. how much was the firm's taxable income, or earnings before taxes (ebt)? a. $3,230.00 b. $3,400.00 c. $3,570.00 d. $3,748.50 e. $3,935.93
b. $3,400.00 was the firm's taxable income or earnings before taxes (EBT).
How much do you make before taxes?EBT is a metric for measuring financial performance. When all expenses, excluding taxes, are subtracted from revenue, the result is a line item on the income statement that represents the company's earnings before taxes. Pre-tax income, profit before tax, and income before income taxes are other names for EBT.
Calculation:
Income Statement $
Sales Revenue 12,500
Operating costs (7,250)
Operating profit (EBDIT) 5,250
Depreciation Expense (1,250)
EBIT 4,000
Finance cost (7.5%) (600)
EBT 3,400
EBDIT-Earnings Before Depreciation, Interest, and Tax
EBIT-Earnings Before Interest and Tax
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on september 12, ryan company sold merchandise in the amount of $6,400 to johnson company, with credit terms of 3/10, n/30. the cost of the items sold is $4,300. johnson uses the periodic inventory system and the net method of accounting for purchases. the journal entry that johnson will make on september 12 is:
An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction.
What is an invoice?An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction. It lists the goods, quantities, and prices that were agreed upon for any goods or services that the seller has delivered to the customer.In most cases, the invoice includes the payment terms. These can stipulate that the buyer has a set number of days to pay, and they might also give a discount for payments made in advance of the payment due date. The goods or services specified on the invoice might have already been paid for by the buyer. Some sellers indicate in huge, capital letters on an invoice if it has already been paid to prevent misunderstandings and the ensuing needless interactions from buyer to seller.Accounts payable = $6400
As soon as a purchase is made, the company enters the invoice into the accounting system for the entire amount due, without any discounts, So:
Purchases = $6400 Debit
The terms of payment are 3/10, and n/30, which indicates that the discount is applied if the payment is paid within the first 10 days of the invoice date. The entry is as follows because the invoice was issued on September 12 and the payment was paid on September 18:
Accounts Payable = $6400 Debit
Purchases Discounts = $116 Credit
Cash = $6384 Credit
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