Bellevue Company has 26,000 units of inventory on hand at December 31. It sold 1,950 units which are in transit and were shipped FOB destination. Bellevue purchased 3,250 units which were shipped FOB shipping point by the seller and are still in transit. What is the total amount of inventory to which Bellevue has legal title at December 31

Answers

Answer 1

Answer:

24050

Explanation:

Calculation to determine the total amount of inventory to which Bellevue has legal title at December 31

Using this formula

Inventory=Inventory on hand at December 31- Units in Transit

Let plug in the formula

Inventory=26,000 units- 1,950 units

Inventory=24050

Therefore the total amount of inventory to which Bellevue has legal title at December 31 is 24050


Related Questions

Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash Complete the following journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns
Journal entry worksheet 1 Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash. Note: Enter debits before credits General Journal Debit Credit Date Dec. 1 Record entry Clear entry View general journal

Answers

Answer:

Dr Merchandise Inventory for $3,300

Cr Cash for $3,300

Explanation:

Based on the information given assuming On December 1, the company purchased $3,300 of merchandise for cash which means that the appropriate journal entry to record these Transaction will be:

Dr Merchandise Inventory for $3,300

Cr Cash for $3,300

You paid $9,700 for a $10,000 par value Treasury bill maturing in 3 months. What is the holding-period return if you hold the treasury bill until maturity

Answers

Answer:

The holding-period return if the treasury bill is held until maturity is:

= $300.

Explanation:

a) Data and Calculations:

Par value of Treasury bill = $10,000

Price paid for the bill =           9,700

Holding-period return =         $300

Maturity period of the bill = 3 months

b) The holding-period return, otherwise called the yield, is the total return earned on the Treasury bill investment during the 3 months that it is held. The holding period is the 3-months time the Treasury bill is held by an investor, which corresponds to the period between the purchase date and sale date of the Treasury bill.

A company reported the following asset and liability balances at the end of 2015 and 2016:
2015 2016
Assets $150,000 $180,000
Liabilities $70,000 $80,000
If the company paid dividends totaling $5,000, what is the amount of net income for 2016?
A. $20,000.B. $105,000.C. $80,000.D. $25,000.

Answers

Answer:

D. $25,000

Explanation:

The equity is the difference between assets and liabilities

Opening equity=$150,000-$70,000

opening equity=$80,000

Ending equity=$180,000-$80,000

ending equity=$100,000

The ending equity formula below can be used to derive the net income for 2016:

ending equity=beginning equity+ net income-dividends

The net income increases the amount of ending equity while dividends decrease it.

net income=unknown

dividends=$5000

$100,000=$80,000+net income-$5000

net income=$100,000-$80,000+$5,000

net income=$25,000

If the real U.S. GDP was $7,636.4 billion in 1998 and the U.S. population was 295 million, the per capita real GDP would have been approximately:_________-

Answers

Answer:

25,886 per person

Explanation:

The real US GDP in the year 1998 is 7636.4 billion

The US population was 295 million

Therefore thecapitapital real GDP can be calculated as follows

= 7636.4 billion/295 million

= 25,886 per person

Which of the following statements is incorrect? Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees. Employment insurance compensation increases the opportunity cost of being unemployed. The typical employment insurance compensation is roughly one third of one's latest salary for up to 26 weeks. Demand and supply curves for labor are constantly shifting.

Answers

Answer:

Employment insurance compensation increases the opportunity cost of being

unemployed.

Explanation:

The Employment insurance program is the benefit that is provided temporarily to the people who do not have jobs or had lost their jobs of no fault of their own. This program helps the unemployed with financial help temporarily so that they can survive and search for another jobs.

The compensations provided from the employment insurance encourages the people for a longer job search and better match between the employees and the jobs. This financial aid is provided for up to a maximum of 26 months and for 1/3rd of one's latest salary. The demand and supply curve for te labor is shifting constantly.

Thus the incorrect statement is :

Employment insurance compensation increases the opportunity cost of being

unemployed.

As Kyle conducts his annual evaluations of his employees, he notices that Connie and Debbie have both been less productive since they were relocated in the same department. Kyle is in what stage of the managerial decision-making process?

Answers

Answer:

Identifying the problem or opportunity.

Explanation:

During this stage, Kyle is first trying to determine what aspects of the firm are troublesome or underperforming. The whole point of doing this is to identify the areas that need some actions or decisions made.

The next step would be to generate alternatives.

A company has an overhead application rate of 124% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $24,000?

Answers

Answer:

$29,760

Explanation:

Overhead application rate = 124% of direct labor cost

The required total labor costing = $24,000

Total overhead applied = Overhead application rate *  $24,000

Total overhead applied = 124% * $24000

Total overhead applied = $29,760

On January 1, 2020, Ellison Co. issued eight-year bonds with a face value of $5,000,000 and a stated interest rate of 8%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. The issue price of the bonds is closest to:

Answers

Answer:

"$4,417,800" is the correct solution.

Explanation:

According to the question,

Principal amount,

= $5,000,000

Number of period will be:

= [tex]8\times 2[/tex]

= [tex]16[/tex]

Interest rate yield per period will be:

= [tex]\frac{8 \ percent}{2}[/tex]

= [tex]4[/tex] %

Interest rate started per period will be:

= [tex]\frac{6 \ percent}{2}[/tex]

= [tex]3[/tex] %

Now,

The present value of principal will be:

= [tex]Principal\ amount\times Yield \ discount \ factor[/tex]

= [tex]5,000,000\times 0.534[/tex]

= [tex]2,670,000[/tex] ($)

The present value of interest will be:

= [tex]Interest \ amount\times Yield \ discount \ factor[/tex]

= [tex](5,000,000\times 3 \ percent)\times 11.652[/tex]

= [tex]1,747,800[/tex] ($)

hence,

The issue price of bonds will be:

= [tex]2,670,000+1,747,800[/tex]

= [tex]4,417,800[/tex] ($)

Which per unit cost does the slope of the total cost line represent? Group of answer choices Fixed Variable. Semivariable Step-variable

Answers

Answer: Variable cost

Explanation:

The slope of a regression line is meant to represent the change in the total variable or y, as a result of a change in the number of independent observations or x.

The cost that changes during production as a result of an increase in x which is the volume of products, is the variable cost so it is the slope of the total cost line,

Slope of total cost line:

y = mx + c

y = total cost

m = variable cost. m is also slope.

x = production volume

c = fixed cost

As discussed in the lecture video, Crocs’ plastic molding and sandal design capabilities have provided the firm with only a temporary competitive advantage, as incumbent firms began selling sandals that were very similar to the Crocs’ clogs. Crocs lost its competitive advantage primarily because of ___________

Answers

Answer: c. competitor imitation

Explanation:

When a company makes a good product that people like and therefore brings in profit, other companies will copy that product if it is not protected by law so that they too can make profit as well.

This is what happened to the Crocs' clogs. Other companies imitated them and so Crocs lost their competitive advantage. This led to prices falling for such footwear as the supply increased. It is for this reason that companies try to get patents when they make a product.

Prior to recording adjusting entries, the Office Supplies account had a $490 debit balance. A physical count of the supplies showed $175 of unused supplies available. The required adjusting entry is: debit/credit [ Select ] to [ Select ] account for [ Select ] debit/credit [ Select ] to [ Select ] account for [ Select ]

Answers

Answer: See explanation

Explanation:

Based on the information that's provided in the question, the required adjusting entry goes thus:

Unadjusted ending balance of supplies = $490

Actual supplies ending balance existing physically = $175

From the information above, the supplies used during the period will be:

= $490 - $175

= $315

Therefore,

Debit office supplies expenses $315 Credit office supplies account $315

Lakeview Engine, Inc., produces engines for the watercraft industry. An outside manufacturer has offered to supply several component parts used in the engine assemblies, which are currently being produced by Lakeview. The supplier will charge Lakeview $325 per engine for the set of parts. Lakeview’s current costs for those part sets are direct materials, $145; direct labor, $85; and manufacturing overhead applied at 100% of direct labor. Variable manufacturing overhead is considered to be 20% of the total, and fixed overhead will not change if the part sets are acquired from the outside supplier.
What would be the net cost advantage or disadvantage if Lakeview decided to purchase the parts?

Answers

Answer:

Lakeview Engine, Inc.

The net cost disadvantage if Lakeview decided to purchase the parts from the supplier per part is:

= $78

Explanation:

a) Data and Calculations:

Price by outside supplier per engine = $325

Current costs of manufacturing the engine:

Direct materials per unit = $145

Direct labor per unit = $85

Variable manufacturing overhead (20%) = $17

Fixed manufacturing overhead (80%) = $68

Total variable manufacturing cost per unit = $247

Incremental Analysis:

                                                             Make           Buy      Incremental

Production costs:

Variable manufacturing costs per unit:

Direct materials per unit                      $145

Direct labor per unit                              $85

Variable manufacturing per unit           $17

Total variable manufacturing costs   $247         $325        $78

b) Therefore, it costs more to Lakeview to buy the part from the outside supplier than it does when it makes it internally.  Lakeview should continue making the parts.

 

If the substitution effect of the real interest rate on saving is larger than the income effect of the real interest rate on saving, then a rise in the real interest rate leads to a ________ in consumption and a ________ in saving, for someone who's a lender.

Answers

Answer:

rise, fall

Explanation:

In the case when the subsitution effect with respect to the real rate of interest should be saved and more than the income effect on the real rate of interest so if there is an increased in the real rate of interest so there is an increase in the consumption also there is the fall in the savings

Also, if there is a more income effect, the consumption should rise and the savings would decline

Therefore the rise and fall should be considered to fill the blanks

Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,160,000 in cash immediately. 2. Pay $461,000 immediately and the remainder in 10 annual installments of $94,000, with the first installment due in one year. 3. Make 10 annual installments of $156,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,730,000 five years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at a 8% interest rate. (Round your final answers to nearest whole dollar amount.)

Answers

Answer:

Option-2 is best alternative

Explanation:

Option-1

Present value of lumpsum amount -1160000

Option-2

Annual paymentt for 10 yrs -94000

Annuity for 10 yrs at 8% 6.7101

Present value of outflowws -630749

Add: Initial amount paid -461000

Present value of outflowws -1091749

Option-3

Annual paymentt for 9 yrs -156000

Annuity for 10 yrs at 8% 6.24689

Present value of outflowws -974515

Add: Initial amount paid -156000

Present value of outflowws -1130515

Option-4

Amount paid after 5 yrs -1730000

PVF at 5 yrs at 8% 0.680583

Present value -1177409

Option-2 is best alternative

Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,420 4,230 Prepaid expenses 200 500 900 Total current assets $ 5,200 $ 3,500 $ 7,410 Current liabilities $ 2,000 $ 1,000 $ 3,800 Compute the current ratio and acid-test ratio for each of the following separate cases.

Answers

Answer:

Current Ratio :

Camaro = 2.6

GTO = 3.5

Torino = 1.95

Acid Test Ratio :

Camaro = 1.3

GTO = 1.08

Torino = 0.84

Explanation:

The current ratio and acid-test ratio for each of the following separate cases will be as follows

Current ratio = Current Assets ÷ Current Liabilities

Camaro = 2.6

GTO = 3.5

Torino = 1.95

Acid Test Ratio = (Current Assets - Inventory) ÷ Current Liabilities

Camaro = 1.3

GTO = 1.08

Torino = 0.84

Required: Monson sells 15 units for $20 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.)

Answers

Answer:

The costs assigned to ending inventory are $11.33 per unit and $340 total cost.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each.

Purchases on December 7           10 units at $ 6.00 cost

Purchases on December 14         20 units at $12.00 cost

Purchases on December 21          15 units at $14.00 cost

Required: Monson sells 15 units for $20 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.)

The explanation of the answer is no provided as follows:

Periodic inventory refers to an inventory system that is updated on a periodic basis such as monthly, quarterly, or annually.

The weighted average method is a formula that divides the cost of products offered for sale by the number of units available for sales.

Combining these two methods, we have:

Value of Purchases on December 7 = 10 * $6.00 = $60

Value of Purchases on December 14 = 20 * $12.00 = $240

Value of Purchases on December 21 = 15 * $14.00 = $210

Total value of units available for sale = $60 + $240 + $210 = $510

Total units available for sale = 10 + 20 + 15 = 45

Costs assigned to ending inventory per unit = Weighted average cost per unit = Total value of units available for sale / Total units available for sale $510 / 45 = $11.33

Units of ending inventory = Total units available for sale – Number of units sold = 45 - 15 = 30

Total cost of ending inventory = Units of ending inventory * Weighted average cost per unit = $11.33 * 30 = $340

Therefore, the costs assigned to ending inventory are $11.33 per unit and $340 total cost.

For each of the following events, explain the short-run and long-run effects on output and the price level, assuming open economy and that policymakers take no action.

a. The stock market declines sharply, reducing consumers’ wealth.
b. The federal government increases spending on national defense.
c. A technological improvement raises productivity.
d. A recession overseas causes foreigners to buy fewer U.S. goods.

Answers

Answer:

High prices of products as well as increases poverty.  

Explanation:

The stock market declines sharply, reducing consumers’ wealth that leads to high prices of products as well as increases poverty.  The federal government increases spending on national defense that decreases the foreign reserves and money for other fields of the country. A technological improvement raises productivity which increases the economy of the country as well as standard of living. A recession overseas causes foreigners to buy fewer U.S. goods that leads to lower income of the country and purchasing power of the country. Due to this, there is less money for other fields and institutions.

Answer:

b. The federal government increases spending on national defense.

Explanation:

Hope this helps

The discount rate that makes the present value of a bond's payments equal to its price is termed the:

Answers

Coupon rate is the rate of discount that makes the present value of a bond's payments equal to its price.

Basically, the discount rate means the interest rate used to get P.V. of future cash flows in a discounted cash flow (DCF).

The coupon rate refers to the interest rate paid by bond-issuers on the bond's face value.

Hence, the Coupon rate is the rate of discount that makes the present value of a bond's payments equal to its price.

Read more about discount rate

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Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manufactured by Lollie Corp. The machine can be used for 15 years and then sold for $20,000 at the end of its useful life. Lollie has presented Kiddy with the following options: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Buy machine. The machine could be purchased for $170,000 in cash. All insurance costs, which approximate $15,000 per year, would be paid by Kiddy. 2. Lease machine. The machine could be leased for a 15-year period for an annual lease payment of $35,000 with the first payment due immediately. All insurance costs will be paid for by the Lollie Corp. and the machine will revert back to Lollie at the end of the 15-year period. Required:Assuming that a 12% interest rate properly reflects the time value of money in this situation and that all maintenance and insurance costs are paid at the end of each year, determine which option Kiddy should choose. Ignore income tax considerations. (Negative amounts should be indicated by a minus sign. Round your final answers to nearest whole dollar amount.)

Answers

Answer:

Kiddy Toy Corporation

The company should lease.  It will save $30,123 by leasing than by buying the machine.

Explanation:

a) Data and Calculations:

1. Buy Machine:

Initial cost = $170,000

Annual Insurance Premium = $15,000

Interest rate = 12%

Estimated useful (Lease Period) = 15 years

Insurance Premium for 15 years (PV) = $102,162.97

PV of Salvage value ($20,000 * 0.183) = $3,660

Total cost of buying machine = $268,503 ($170,000 + $102,162.97 - $3,660)

Present value of lease payments = $238,380

NPV of leasing over buying = $30,123 ($268,503 - $238,380)

N (# of periods)  15

I/Y (Interest per year)  12

PMT (Periodic Payment)  35000

FV (Future Value)  0

 

Results

PV = $238,380.26

Sum of all periodic payments = $525,000.00

Total Interest = $286,619.74

Insurance Premium:

N (# of periods)  15

I/Y (Interest per year)  12

PMT (Periodic Payment)  15000

FV (Future Value)  0

Results

PV = $102,162.97

Sum of all periodic payments $225,000.00

Total Interest $-122,837.03

The free market in actual terms, and not in the theoretical ideal, consists of commerce legally constrained by what is economically desirable and what is socially desirable, as well.

Answers

Answer: True

Explanation:

In the free market, the goods and services that are sold are those that consumers in the economy require which is why they buy the goods in the first place.

The goods and services that are sold are also socially desirable. This means that in a particular society, the goods and services sold must conform to the social norms and values that the economy holds. In essence, they shouldn't be illegal.

Juniper Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $430,000 on sales of $1,300,000. The companyâs average operating assets for the year were $1,500,000 and its minimum required rate of return was 10%.
Required:Compute the companyâs residual income for the year.Average Operating Assets-Net Operating Income-Minimum required return-Residual income-

Answers

Answer: $280,000

Explanation:

Residual income can be calculated by the formula:

= Net operating income - (Average operating asset * Minimum required rate)

= 430,000 - (1,500,000 * 10%)

= 430,000 - 150,000

= $280,000

The Perfect Rose Co. has earnings of $2.30 per share. The benchmark PE for the company is 16. a. What stock price would you consider appropriate

Answers

Answer:

a.$36.80

b. $43.70

Explanation:

a. Calculation to determine What stock price would you consider appropriate

Using this formula

P= Benchmark PE ration x EPS

Let plug in the formula

P=16($2.30)

P=$36.80

Therefore What stock price would you consider appropriate is $36.80

b. Calculation to determine the stock price if the benchmark PE were 19

Using this formula

P= Benchmark PE ration x EPS

Let plug in the formula

P=19($2.30)

P= $43.70

Therefore the stock price if the benchmark PE were 19 will be $43.70

Life, Inc. experienced the following events in Year 1, its first year of operation: Performed counseling services for $22,000 cash. On February 1, Year 1, paid $15,000 cash to rent office space for the coming year. Adjusted the accounts to reflect the amount of rent used during the year.
Required
Based on this information alone:
a. Record the events under an accounting equation.
TABLE PROVIDED BELOW
a.
Life, Inc.
Effect of Events on the Accounting Equation
Assets = Stockholders’ Equity
Event
Cash
Prepaid Rent
=
Retained Earnings
1. Performed Services 36,000 36,000
2. Prepaid Rent (18,000) 18,000 NA
3. Used Rent (18,000) (18,000)
Totals 18,000 0 = 18,000
b. Prepare an income statement, balance sheet, and statement of cash flows for the 2016 accounting period.
Life, Inc.
Income Statement
For the Year Ended December 31, 2016
Revenue 36,000
Expense 18,000
Net Income 18,000

Answers

Answer:

a. Assets = Liabilities + Stockholders' Equity = $8,250

b. We have:

Net income = $8,250

Assets = Liabilities + Stockholders' Equity = $8,250

Ending cash balance = $7,000

Explanation:

Note: The data in this question are merged together and the question also contains some errors in terms of irrelevant data and date/year inconsistency. These errors are therefore fixed by picking the actual question with the sorted data before answering the question as follows:

Life, Inc. experienced the following events in Year 1, its first year of operation:

1. Performed counseling services for $22,000 cash.

2. On February 1, Year 1, paid $15,000 cash to rent office space for the coming year.

3. Adjusted the accounts to reflect the amount of rent used during the year.

Required

Based on this information alone:

a. Record the events under an accounting equation.

b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period.

The explanation of the answer is now presented as follows:

a. Record the events under an accounting equation.

Note: See Part a of the attached excel file for the record of the events under an accounting equation.

From Part of the attached excel file, we have:

Use rent = Rent paid = (Number of months used in Year 1 / Number of months in a year) = $15,000 * (11 / 12) = $13,750

Assets = Cash + Prepaid rent = $7,000 + $1,250 = $8,250

Liabilities = $0

Stockholders' Equity = $8,250

Therefore, we have:

Assets = Liabilities + Stockholders' Equity = $8,250

b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period.

Note: See Part b of the attached excel file for the income statement, balance sheet, and statement of cash flows for the Year 1 accounting.

From Part of the attached excel file, we have:

Net income = $8,250

Assets = Liabilities + Stockholders' Equity = $8,250

Ending cash balance = $7,000

Note:

Increase in prepaid rent = Rent expense to be recognized in Year 2 = Rent paid - Rent used = $15,500 - $13,750 = $1,250

Recology CleanScapes, formed when CleanScapes of Seattle merged with San Francisco–based Recology, provides recycling services to about 800,000 residential and commercial customers in four western states. The employee-owned company’s motto is "WASTE ZERO," and it is an industry leader in the waste reduction and recovery industry. Recology CleanScapes has credited much of its financial success, low employee turnover, and high customer satisfaction to open-book management.
Recycling is a worldwide industry. If Recology CleanScapes decided to expand by acquiring companies in other countries, which of the following issues should managers take into consideration when deciding where and how to operate? Check all that apply.
A- In some countries, like China and India, it is not customary to publicly disclose company financial information.
B- In countries with high power distance, where inequality between managers and employees is expected, companies may have difficulty using open-book management.
C- Employees in some countries are not sufficiently well educated to understand company financial information.

Answers

Answer:

A- In some countries, like China and India, it is not customary to publicly disclose company financial information. B- In countries with high power distance, where inequality between managers and employees is expected, companies may have difficulty using open-book management.

Explanation:

Using open book management would mean disclosing financial information to ensure that employees know how best to use that information to push the company forward. If this is looked down upon in a country like in China and India, Recology would not be able to properly implement its open-book management style so it should take that into consideration.

This is the same problem as countries with high power distance. Inequality is expected and even encouraged between managers and employees yet Recology practices open-book management which actually tries to reduce this equality so Recology needs to properly consider such countries before they move in.

The managers must take into consideration when deciding where and how to operate is that;

In countries with high power distance, where inequality between managers and employees is expected, companies may have difficulty using open-book management.

When there is high power distances, lower-ranking citizens and employees is prone to accept and expect that power will not be distributed equally, and this also makes politicians and business leaders are distanced or isolated from others.

In business, managers need consider the following; information, time, personnel, equipment, and supplies and and also note any limiting factors.

Managers should boast the morale of employees so as to focus on their individual job performance and reward them for individual result.

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Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,400 Finished goods inventory, April 30 26,400 Total cost of goods manufactured 122,900 The cost of goods sold for the year is:

Answers

Answer:

$128,900

Explanation:

Cost of goods sold calculation

Opening Finished goods inventory                  $32,400

Add cost of goods manufactured                    $122,900

Less Closing Finished goods inventory          ($26,400)

Cost of goods sold                                            $128,900

therefore,

The cost of goods sold for the year is $128,900.

Drew Davis goes to his local bank to get help developing a financial plan and making investment decisions. Which of the more recent services banks offer is Drew taking advantage of

Answers

Answer: b. Getting financial advice

Explanation:

As the number of banks in the world increases, banks are having to offer more products and services apart from their traditional roles as lenders in order to remain relevant and competitive. One such product is giving financial advice.

Banks now offer advice on how to make better investment decisions, develop financial plans and even organize your estate. This is what Drew Davis was taking advantage of here.

Bonita Industries purchased machinery for $1030000 on January 1, 2017. Straight-line depreciation has been recorded based on a $82000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $27500. How much cash did Bonita receive from the sale of the machinery?
a. $138,000
b. $162,000
c. $198,000
d. $258,000

Answers

Answer:

$235,900

Explanation:

Depreciation p.a. = ($1030000 - $82,000) / 5 years

Depreciation p.a. = $189,600

Depreciation charged till the Jan 1 ,2021 (4 years)

= $189,600 * 4 years

= $758,400

Depreciation charged till May 1, 2021 (4 month)

= $189,600 * 4 months/12 months

= $63,200

Value of the asset = $1030000 - $758,400 - $63,200

Value of the asset = $208,400

Cash received from sale of machinery = $208,400 + $27,500 (gain)

Cash received from sale of machinery = $235,900

An expansion/ boom can be stabilized/fixed by following expansionary fiscal policy. Expansionary monetary policy used to fix stagflation can worsen the problem of inflation. Recession caused by a negative demand shock is fixed by an expansionary monetary policy. A boom can be stabilized/fixed by following contractionary monetary policy.

Answers

Answer:

An expansion/ boom can be stabilized / fixed by following expansionary fiscal policy.

Explanation:

The statement mentioned above is not correct, rest of all the statements are correct. An expansionary fiscal policy is used when money supply is increase in the economy. This will raise spending and taxes will be cut down in order to increase investments in the country.

The Super Discount store (open 24 hours a day, every day) sells 8-packs of paper towels, at the rate of approximately 420 packs per week. Because the towels are so bulky, the annual cost to carry them in inventory is estimated at $0.50. The cost to place an order for more is $20, and it takes four days for an order to arrive. a. Find the optimal order quantity.

Answers

Answer:

Missing word "b. What is the reorder point? c. How often should an order be placed?"

a. Optimal order quantity (EOQ) = (2AC/C)^(1/2). A=21840(420*52), O=20, C=0.5

Optimal order quantity (EOQ) = (2*21840*20/0.5))^(1/2)

Optimal order quantity (EOQ) = 1321.816931

Optimal order quantity (EOQ) = 1321.81 units

b. Reorder point = (420/7)*4

Reorder point = 60 * 4

Reorder point = 240 units

c. Time = 365*EOQ/A

Time = 365*1322/21840

Time = 22.0938645

Time = 22 days

The sources of economic growth are​ _______. A. work hours growth and labor productivity growth B. democracy and labor productivity growth C. job experience and low inflation D. work hours growth and a stable government

Answers

Answer:

A. work hours growth and labor productivity growth

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

Generally, the sources of economic growth of a country are​ work hours growth and labor productivity growth.

Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

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