Answer:
option (b) $1,721
Explanation:
Given:
Job # Total Cost Complete Sold
803 $611 yes yes
804 $423 yes no
805 $805 no no
806 $682 yes yes
807 $525 yes no
808 $250 no no
809 $440 yes yes
810 $773 yes no
811 $267 no no
812 $341 no no
Now,
The total in Finished Goods will be the jobs that are completed and not sold
thus,
The total in Finished Goods = $423 + $525 + $773 = $1,721
Hence,
The correct answer is option (b) $1,721
Answer:
e. $22,000
Explanation:
The computation of the beginning inventory is shown below:
We know that,
Opening inventory + Purchase - Purchase Discounts - Purchase Returns and Allowances + freight in + Gross profit = Sales - sales return - sales discount + ending inventory
Opening inventory + $245,000 - $4,000 - $8,000 + $7,000 + $75,000 = $317,000 - $9,000 - $1,000 + $30,000
Opening inventory + $315,000 = $337,000
So, the opening inventory equals to
= $22,000
The beginning inventory for fiscal year 2018 is $29,000. This was calculated using the principles of inventory cost flows, which led us to the cost of goods sold (COGS). From there, we used the COGS, net purchases, and ending Inventory to calculate the beginning inventory.
To solve this problem, inventory cost flow principles are applied. According to these, beginning inventory plus purchases minus ending inventory equals the cost of goods sold (COGS). In this case, we need to find the beginning inventory. Here is a step-by-step solution:
#SPJ6
Preferred stock, 11 percent, par value $13 per share, 5,000 shares authorized
During the year, the following transactions took place in the order presented:
a. Sold and issued 21,900 shares of common stock at $26 cash per share.
b. Sold and issued 2,800 shares of preferred stock at $30 cash per share.
c. At the end of the year, the accounts showed net income of $41,600. No dividends were declared.
Required:
Prepare the stockholders’ equity section of the balance sheet at the end of the year.
Answer and Explanation:
The preparation of the stockholder equity section is presented below:
Tandy Company
Balance Sheet (Partial)
Stockholders Equity :
Contributed Capital :
Common stock (21,900 shares × $6) $131,400
Preferred stock (5,000 shares × $13) $65,000
Additional Paid in Capital - Common stock (21,900 shares × $20) $438,000
Additional Paid in Capital - Preferred stock (5,000 shares × $17) $85,000
Total Contributed Capital $719,400
Add: Retained Earnings $41,600
Total Stockholders Equity $761,000
Answer:
Revenue= $503,538.46
Explanation:
Giving the following information:
In 2019, X Company's profit function was 0.31R - $89,000, where R is revenue. In 2020, the relationship between revenue and variable costs will not change, but fixed costs will increase by $16,020.
Tax rate= 35%
Desired profit= 33,200
X= 0.31R - (89,000+16,020)= 0.31R - 105,020
We need to incorporate the effect of the tax rate:
X= [(0.31R - 105,020)*(1-t)]
33,200= [(0.31*R) - 105,020]*(1-0.35)
33,200/0.65= 0.31R - 105,020
51,076.92 + 105,020= 0.31R
503,538.46= R
Answer:
a. It focuses on generating new revenue by offering new products and services.
Explanation:
An information system or technology can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products. Thus, an information system or technology interacts with its environment by receiving data in its raw forms and information in a usable format.
Information technology is an integral part of human life because individuals, organizations, and institutions rely on information technologies in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, in the context of using information technologies for a competitive advantage over rivals in the industry, the statement which is true of a top-line strategy is that, it focuses on generating new revenue by offering new products and services. The top-line strategy ensures that the company continues to generate gross revenue or sales.
Answer:
b. $800
Explanation:
The calculation of maximum loss from this position is shown below:-
Maximum Loss from this position = (Assume figure × Call premium) + (Assume figure × Put premium)
= (100 × $5) + (100 × $3)
= $500 + $300
= $800
Therefore for computing the maximum loss from this position we simply applied the above formula.
Answer:
$8000
= $10,636.63
Explanation:
Simple interest = P x R x T
P = amount
R = interest rate
T = time
= $12,500 × 0.08 x 8 = $8000
For compound interest:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$12500(1.08)^8 = $23,136.63
Interest = $23,136.63 - $12,500 = $10,636.63
I hope my answer helps you