Answer:
the numbers are missing, so I looked for a similar question:
Purchases Sales Units Unit Cost Units Selling Price/Unit
3/1 Beginning inventory 100 $40
3/3 Purchase 60 $50
3/4 Sales 60 $80
3/10 Purchase 200 $55
3/16 Sales 70 $90
3/19 Sales 90 $90
3/25 Sales 60 $90
3/30 Purchase 40 $60
the requirements are:
calculate COGS and ending inventory under FIFO, LIFO and weighted average.
since this company uses the periodic inventory level we must first determine the total cost of goods available for sale:
3/1 Beginning inventory 100 $40
3/3 Purchase 60 $50
3/10 Purchase 200 $55
3/30 Purchase 40 $60
total goods available for sale = 400 units, at a total cost of $20,400
total units sold = 60 + 70 + 90 + 60 = 280 units
ending inventory = 120 units
under FIFO:
ending inventory = (40 x $60) + (80 x $55) = $6,800
COGS = $20,400 - $6,800 = $13,600
under LIFO:
ending inventory = (100 x $40) + (20 x $50) = $5,000
COGS = $20,400 - $5,000 = $15,400
under weighted average:
ending inventory = ($20,400 / 400) x 120 = $6,120
COGS = $20,400 - $6,120 = $14,280
Answer: $465,000
Explanation:
To calculate the Taxable income we would have to adjust the figure for dividends received as well as interest.
Now, 50% of dividends received are taxable so let's adjust for that first,
= 20,000 * 0.5
= $10,000
$10,000 of dividends are taxable.
To calculate the Taxable income we have to use the following formula,
Taxable income = Income after operating Costs - Interest Charges + Taxable dividends
= 495,000 - 40,000 + 10,000
= $465,000
That Taxable income is therefore $465,000
Note: The dividends paid are not included here because they are taxable and already included in the Taxable operating income so including it again would amount to Double Counting.
If you need any clarification do react or comment.
Answer: Firm's taxable income = $465,000
Explanation:
GIVEN the following :
Taxable operating income = $495,000
Dividend received = $20,000
Interest charges = $40,000
Firm's taxable income =?
NOTE: 50% of dividend received is tax exempt.
Therefore,
0.5 × $20,000 = $10,000
Taxable portion of dividend received = $20,000 - $10,000
Taxable dividend = $10,000
Taxable income = (Taxable operating income + taxable dividend) - interest charges
Taxable income = ( $495,000 + $10,000) - $40,000
Taxable income = $505,000 - $40,000
Firm's taxable income = $465,000
savings will grow at a rate of 2 percent per year indefinitely. The firm has a target
4.6 percent. The cost-saving proposal is somewhat riskier than the usual project the
firm undertakes; management uses the subjective approach and applies an adjustment factor of +3 percent to the cost of capital for such risky projects. Under what
circumstances should the company take on the project?
The analysis which is based on the concept that the longer you have to wait to receive money, the less valuable it is right now is known as:
Based on the given question, we can see that the discounted cash flow has to do with the analysis which is based on the concept that the longer at which a person has to wait to receive money, then the less valuable the money is at the moment.
This is because, this concept is used to make valuations about how much value an investment is worth and how the current value of the investment is and the future projections.
Therefore, the correct answer is discounted cash flow
Read more about discounted cash flow here:
b) Prepare the journal entry on July 1, 2020, for LBJ Finance Corporation to record the purchase of receivables without recourse.
Answer:
Please see below
Explanation:
A. Journal entry for JFK Corp, July 1, 2020 to record the sale of receivable without recourse.
Cash. Dr.
[(100 - 4 - 1.5) × 300,000]. $283,500
Due from factor Dr
(0.4 × 300,000) $12,000
Loss on sale of receivable. Dr
(0.015 × 300,000) $4,500
To Accounts receivable Cr $300,000
B. Journal entry for LBJ finance Corporation on July 1, 2020 to record the purchase of receivables without recourse.
Accounts receivable Dr $300,000
To due from factor Cr $12,000
To Financing revenue Cr $4,500
To cash account Cr $283,500
J.F.K. Corp. would record the sale of receivables without recourse by debiting Accounts Receivable, Finance Charge Revenue, and Sales Discounts, Returns, and Allowances, and crediting Factoring Cost. LBJ Finance Corporation would record the purchase of receivables without recourse by debiting Accounts Receivable and crediting Factoring Revenue.
a) The journal entry for J.F.K. Corp. to record the sale of receivables without recourse on July 1, 2020, would be:
Accounts Receivable: $300,000
Finance Charge Revenue: $4,500 (1.5% of $300,000)
Sales Discounts, Returns, and Allowances: $12,000 (4% of $300,000)
Factoring Cost: $283,500
b) The journal entry for LBJ Finance Corporation to record the purchase of receivables without recourse on July 1, 2020, would be:
Accounts Receivable: $300,000
Factoring Revenue: $283,500 (calculating the net amount received after deducting finance charges and sales discounts, returns, and allowances)
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Maddy's cross-price elasticity of demand for beans and rice is -1, and they are complements.
The cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good to a change in the price of another good. It is calculated as the percentage change in the quantity demanded of one good divided by the percentage change in the price of the other good. In this case, Maddy's cross-price elasticity of demand for beans and rice can be calculated using the formula:
Cross-Price Elasticity = ((Q2 - Q1) / (Q1)) / ((P2 - P1) / (P1))
Calculating the values:
Q1 = 2 pounds of beans per month
Q2 = 1 pounds of beans per month
P1 = $2 per pound of beans
P2 = $3 per pound of beans
Substituting the values into the formula:
Cross-Price Elasticity = ((1 - 2) / (2)) / ((3 - 2) / (2)) = -0.5 / 0.5 = -1
The cross-price elasticity of demand for beans and rice is -1, which indicates that they are complementary goods. When the price of beans increases, the quantity demanded of beans decreases, and as a result, Maddy purchases less rice as well.
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Which of the following terms refer to these advertisements?
A) pay-per-click ads
B) floating ads
C) interstitials
D) superstitials
E) banner ads
Answer:
The correct answer is letter "E": banner ads.
Explanation:
Banner ads are rectangular publications portrayed at the top, bottom, left or right side of a website to promote products or services on a website different from the one the goods are sold. Banner ads invite visitors to go into the advertiser's website to dive into its gamma of products offered.
The advertisements that appear above the organic search results are called pay-per-click ads. This is a form of online advertising where advertisers pay a fee for each click on their ad.
The advertisements that appear above the organic search results when you're searching for the details of a refrigerator are referred to as pay-per-click ads (option A). These are a type of online advertising where the advertiser pays a fee each time their ad is clicked by a user. The search engine makes use of this advertising model for its ads, which are strategically placed to attract potential buyers. Other options like floating ads, interstitials, superstitials, and banner ads are also types of online advertisements but they have different characteristics and are used in different contexts.
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