The formula for price elasticity of demand is given by:Price elasticity of demand = Percentage change in quantity demanded / Percentage change in priceGiven that a 1% decrease in the price of a good leads to a 0.50% increase in the quantity demanded.
Substituting these values in the formula for price elasticity of demand, we get:(0.50 / 1) * 100 = 50Hence, the absolute value of price elasticity of demand is 50 or 0.5.If a 2 percent increase in the price of a good leads to a 10 percent decrease in the quantity demanded.Substituting these values in the formula for price elasticity of demand, we get:(-10 / 2) * 100 = -500Hence, the absolute value of price elasticity of demand is 500 or 5.0.Therefore,Option d: 0.5 and option d: 5.0 are correct.
The absolute value of price elasticity of demand when a 1 percent decrease in the price of a good leads to a 0.50 percent increase in the quantity demanded is 0.5. When a 2 percent increase in the price of a good leads to a 10 percent decrease in the quantity demanded, the absolute value of price elasticity of demand is 5.0.
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us regulators have asked a court to freeze the us assets of which big crypto exchange?
US regulators have sought to freeze the US assets of Binance, a major cryptocurrency exchange, in order to enforce regulatory measures and ensure compliance.
1. US regulators, such as the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), have taken action to freeze the US assets of Binance.
2. Binance is one of the largest cryptocurrency exchanges globally, providing a platform for users to trade various cryptocurrencies.
3. By freezing the US assets of Binance, regulators aim to exert control and ensure compliance with regulations in the crypto industry.
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You need $80,000 in 10 years. If you can earn .47 percent per month, how much will you have to deposit today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Deposit today_____
Therefore, you will need to deposit around $58,223.61 today in order to have $80,000 in 10 years, assuming a monthly interest rate of 0.47 percent. To calculate the amount you need to deposit today, we can use the formula for compound interest: A = P(1 + r/n)^(nt).
Where:
A = the future amount you need ($80,000)
P = the principal amount (to be determined)
r = the monthly interest rate (0.47%)
n = the number of times the interest is compounded per year (12, as there are 12 months in a year)
t = the number of years (10)
Substituting the values into the formula, we get: $80,000 = P(1 + 0.0047/12)^(12*10)
To find the value of P, we need to isolate it on one side of the equation. Dividing both sides of the equation by (1 + 0.0047/12)^(12*10).
we get: P = $80,000 / (1 + 0.0047/12)^(12*10) Evaluating this expression using a calculator, we find that the value of P is approximately $58,223.61.
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You would need to deposit approximately $48,076.92 today. To calculate the deposit amount you need to make today, we can use the formula for the future value of a lump sum investment:
FV = PV(1+r)^n
Where:
FV = Future value
PV = Present value (deposit amount)
r = Interest rate per compounding period
n = Number of compounding periods
Given that you need $80,000 in 10 years and can earn 0.47 percent per month, let's calculate the deposit amount.
First, we need to convert the monthly interest rate to a decimal:
r = 0.47% / 100 = 0.0047
Next, we need to determine the number of compounding periods:
n = 10 years * 12 months/year = 120 months
Now we can rearrange the formula to solve for PV:
PV = FV / (1+r)^n
Substituting the given values:
PV = $80,000 / (1+0.0047)^120
Calculating the expression inside the parentheses:
(1+0.0047)^120 ≈ 1.664
Finally, plugging in this value:
PV ≈ $80,000 / 1.664
Calculating the deposit amount:
PV ≈ $48,076.92
Therefore, you would need to deposit approximately $48,076.92 today in order to have $80,000 in 10 years, assuming a monthly interest rate of 0.47 percent.
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. How will a finance lease be presented on the statement of financial position?
a.as a liability only
b.as an asset only
c.as recorded only when paid, so won't appear on the statement of financial position
d.as an asset and liability
2. When taxes such as federal goods and services (GST) tax are collected from customers as part of the total selling price of products, such taxes should be recorded as a debit to a current liability account.
True
False
A finance lease will be presented as an asset and liability on the statement of financial position. It will be represented as a liability for the lessee, whereas as an asset for the lessor and the correct answer is false.
A finance lease is an agreement between a lessor and a lessee in which the lessee has the right to use the leased asset throughout the lease's life, and the lessor retains the asset's ownership. As a result, the lease payments are split between the depreciation of the asset and interest charges on the lease obligation. The lessee will put the leased asset on their balance sheet as a liability since they have an obligation to pay lease payments and have use of the leased asset.Therefore, the option d. as an asset and liability is correct.When taxes such as federal goods and services (GST) tax are collected from customers as part of the total selling price of products, such taxes should be recorded as a debit to a current liability account.
This statement is False.A liability account increases with a credit and decreases with a debit. Therefore, the collected taxes should be credited to a current liability account, not debited.
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How does diversity and cultural differences in a workplace
impact an organization?
(30 Marks)
Embracing diversity and cultural differences can bring numerous benefits to an organization, including enhanced creativity, problem-solving capabilities, market reach, decision-making, and employee satisfaction.
The impact of diversity and cultural differences in a workplace can be significant for an organization. Here's a step-by-step explanation of how it affects the organization:
1. Increased creativity and innovation: Diversity brings together people with different backgrounds, experiences, and perspectives. This diversity of thought leads to increased creativity and innovation within the organization. Different perspectives can generate fresh ideas and solutions to problems.
2. Enhanced problem-solving: Cultural differences can contribute to a broader range of problem-solving approaches. Employees from diverse backgrounds may offer unique insights and alternative solutions, enabling the organization to address challenges more effectively.
3. Expanded market reach: Having a diverse workforce can help organizations better understand and cater to a diverse customer base. Different cultural perspectives can provide insights into different markets, allowing the organization to tailor its products or services to meet the needs of various customers.
4. Improved decision-making: Diversity can lead to better decision-making processes. When different viewpoints are considered, organizations can avoid groupthink and make more informed decisions that take into account a wider range of perspectives and potential consequences.
5. Increased employee satisfaction and retention: Organizations that value diversity and create an inclusive environment tend to attract and retain talented employees. When employees feel included and respected, they are more likely to be engaged, satisfied, and motivated in their work.
Overall, embracing diversity and cultural differences can bring numerous benefits to an organization, including enhanced creativity, problem-solving capabilities, market reach, decision-making, and employee satisfaction. These advantages can contribute to the organization's success and competitiveness.
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On March 1. 2020. ExCo's board of directors dectared a cash dividend of \( \$ 0.70 \) per common share to shareholders of record on March 10, payable March 31. There were 121,000 shares issued and out
The cash dividend declared by ExCo's board of directors is $0.70 per common share. The dividend payout date is March 31, and the shareholders of record are those who hold the shares as of March 10.
There were 121,000 shares that were issued and outstanding on the date when the dividend was declared. The total amount of dividend payout can be calculated as follows:
Number of shares = 121,000Dividend per share = $0.70.
Total dividend payout = Number of shares x Dividend per share = 121,000 x $0.70 = $84,700.
The cash dividend declared by ExCo's board of directors is $0.70 per common share. The dividend payout date is March 31, and the shareholders of record are those who hold the shares as of March 10. There were 121,000 shares that were issued and outstanding on the date when the dividend was declared.
The total amount of dividend payout can be calculated by multiplying the number of shares and the dividend per share, which results in $84,700.
The cash dividend of $0.70 per common share was declared by ExCo's board of directors on March 1, 2020. There were 121,000 shares issued and outstanding, and the dividend payout date is March 31. The shareholders of record are those who hold the shares as of March 10. The total amount of dividend payout is $84,700.
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Management accounting has created concepts and a language about decision making that can be useful outside its business applications. Use what you know about these to advise a graduating undergraduate
Management accounting has developed concepts and a language about decision-making that can be useful beyond its business applications. A few of these principles are as follows:
1. Relevant costs:
Management accounting recognizes the importance of relevant costs, which are the costs that will vary in the decision-making process.
For example, in deciding whether to manufacture a product or outsource it, the cost of raw materials will be relevant, but the cost of the factory rent will not be.
2. Opportunity costs:
Management accounting recognizes that every choice has an opportunity cost, which is the value of the foregone alternative. An individual who has the opportunity to work full-time or pursue an MBA part-time has an opportunity cost.
3. Marginal analysis:
Management accounting emphasizes the importance of marginal analysis, which is the examination of the costs and benefits of producing one additional unit of a product.
4. Sunk costs:
Management accounting recognizes that sunk costs, which are costs that cannot be retrieved, must be ignored in decision-making.
5. Time-value of money:
Management accounting acknowledges the time-value of money, which implies that the value of money today is worth more than the value of the same sum of money in the future due to the interest that may be earned.
6. Breakeven analysis:
Management accounting stresses the importance of breakeven analysis, which is the study of the relationship between a firm's costs and revenue. Breakeven analysis is used to determine the level of production necessary to cover all costs.
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Choose the example that shows a markup on cost of higher than 100% ? Cost =$100; Selling Price =$220
Cost =$100; Selling Price =$120
Cost =$100; Expenses =$20; Profit =$80
Cost =$120; Markup =$100
The example that shows a markup on the cost of higher than 100% is Cost = $100; Selling Price = $220.
The example that shows a markup on the cost of higher than 100% is:
Cost = $100;
Selling Price = $220.
When the cost is $100, and the selling price is $220, the markup is calculated as follows:
Markup = Selling Price - Cost= $220 - $100 = $120
The percentage markup can be calculated as:
Percentage Markup = (Markup / Cost) × 100
= (120 / 100) × 100
= 120%
Therefore, the example that shows a markup on the cost of higher than 100% is Cost = $100; Selling Price = $220.
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Fill in the Blank Question Carly sold land that she purchased 10 years ago for $3,000. The selling price of the land was $7,000 and Carly paid brokers fees of $420. When she originally purchased the land, she paid $1,000 to clear some of the brush in order to make a walking path down to a nearby lake in the ten years since the purchase. Corty paid $200 per year to keep the path maintained. Carty's amount realized on the sale
$___ was 4 and her tax basis was ___ resulting in a capital gain of $___ for the year.
Carly's amount realized on the sale $6,580, was 4 and her tax basis was $6,000 resulting i a capital gain of $580 for the year.
Carly sold the land she purchased 10 years ago for $3,000. The selling price of the land was $7,000, and Carly paid brokers fees of $420. When she initially bought the land, she paid $1,000 to clear some brush to create a walking path to a nearby lake. Over the ten years, she spent $200 per year to maintain the path.
To calculate Carly's amount realized on the sale, we start with the selling price of $7,000 and subtract any selling expenses. In this case, the selling expenses are the brokers fees of $420. Therefore, the amount realized is $7,000 - $420 = $6,580.
Next, we calculate Carly's tax basis, which is the original cost of the land plus any improvements and expenses. The original cost of the land was $3,000, and Carly also spent $1,000 to clear the brush. Additionally, she paid $200 per year for maintenance over ten years, which totals $200 x 10 = $2,000. Therefore, her tax basis is $3,000 + $1,000 + $2,000 = $6,000.
Finally, we calculate Carly's capital gain by subtracting her tax basis from the amount realized. In this case, the capital gain is $6,580 - $6,000 = $580.
In conclusion, Carly's amount realized on the sale was $6,580, her tax basis was $6,000, and she had a capital gain of $580 for the year.
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Greenzone Ltd runs a business providing environmental guidance. The company’s summarised statement of profit or loss for the year ended 31 March 2013 is as follows:
Gross profit 404,550
Depreciation 28,859
Repairs and renewals 28,190
Legal and accountancy charges 4,504
Subscriptions 8,965
Salaries and wages 45,000
Rent and rates 1,420
Travel 8,900
Marketing expenses 7,653
Electricity, water and telephone 5,700
Other expenses 107,801
Net profit 157,558
You are provided with the following additional information:
1. Repairs and renewals Repairs and renewals are as follows:
Repainting the exterior of the company’s office building 8,390
Extending the office building in order to create a new reception area 19,800
2. Other expenses Other expenses included the following:
Entertaining UK customers 3,600
Entertaining overseas customers 1,840
Political donations 740
Donation to a charity where Greenzone Ltd received free advertising in the charity’s newsletter amounted to £430. This was not a qualifying charitable donation
Gifts to customers (pens costing £30 each, not displaying Greenzone Ltd’s name) costed £660
Gifts to customers (clocks costing £65 each and not displaying Greenzone Ltd’s name) amounted to £910
3. Legal and accountancy charges Legal and accountancy charges are made up as follows:
Debt collection service 2,396
Audit and accountancy 1,288
45 year lease on new premises 820
4. Travel Included in the expenses for travel is £3,000 as travel expenses for the director’s visit to USA. This was a family voyage when the director was on holidays.
5. Plant and machinery On 1 April 2012, the tax written down values of plant and machinery were as follows:
Main pool 56,700
Special rate pool 12,400
The following transactions took place during the year ended 31 March 2013:
Costs/ (proceeds)
14 May 2012 Sold a motor car 18,100
18 July 2012 Sold all items included in the special rate pool 9,300
27 January 2013 Purchased a motor car 13,700
The motor car sold on 14 May 2012 for £18,100 was originally purchased during the year ended 31 March 2012 for £17,200. This expenditure was added to the main pool.
The motor car purchased on 27 January 2013 for £13,700 has a CO2 emission rate of 120 grams per kilometre. The motor car is used as a pool car by the company’s employees.
Required: Calculate Greenzone Ltd’s tax adjusted trading profit for the year ended 31 March 2013.
To calculate Greenzone Ltd's tax adjusted trading profit for the year ended 31 March 2013, we need to make adjustments to the profit figures provided based on the additional information given.
First, we will adjust the repairs and renewals expenses. The cost of repainting the office building (£8,390) and extending the building for the new reception area (£19,800) should be added to the property's cost and capitalized rather than expensed.
Next, we need to adjust the other expenses. The amounts spent on entertaining UK customers (£3,600), entertaining overseas customers (£1,840), and political donations (£740) are not allowable deductions for tax purposes. The donation to the charity (£430) is also not a qualifying charitable donation and should be excluded. However, the cost of gifts to customers (£660 for pens and £910 for clocks) can be included as allowable deductions.
For legal and accountancy charges, the debt collection service (£2,396) and audit and accountancy fees (£1,288) are allowable deductions. However, the cost of the 45-year lease on new premises (£820) should be capitalized and treated as a capital expenditure.
The travel expenses for the director's personal trip to the USA (£3,000) should be excluded as it is a personal expense and not related to business activities.
Regarding the plant and machinery, we need to account for the disposals and acquisitions. The motor car sold for £18,100 has a written down value of £17,200, resulting in a balancing charge of £900. The special rate pool items sold for £9,300 will reduce the pool's value. The new motor car purchased for £13,700 with a CO2 emission rate of 120 grams per kilometer will be added to the main pool.
By making these adjustments, we can calculate the tax adjusted trading profit for Greenzone Ltd for the year ended 31 March 2013. This will involve deducting the disallowed expenses, adding back the capitalized expenses, and accounting for the plant and machinery adjustments.
The tax adjusted trading profit for Greenzone Ltd for the year ended 31 March 2013 can be calculated by making the necessary adjustments to the profit figures provided. These adjustments involve capitalizing certain expenses, excluding non-qualifying expenses, and accounting for disposals and acquisitions of plant and machinery.
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Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect on Net Income if the sales quantity increases by 100 units? $8,000 increase $8,000 decrease $3,200 increase $3,200 decrease
The effect on Net Income if the sales quantity increases by 100 units can be calculated using the contribution margin ratio.
How to calculate?To calculate the contribution margin ratio, we divide the contribution margin by the sales revenue. The contribution margin is the difference between the sales revenue and the variable expenses.
In this case, we need to determine the change in contribution margin and then calculate the effect on Net Income.
Step 1: Calculate the contribution margin per unit.
Divide the contribution margin by the number of units sold.
Step 2: Calculate the change in contribution margin.
Multiply the contribution margin per unit by the change in sales quantity (100 units in this case).
Step 3: Calculate the effect on Net Income.
Multiply the change in contribution margin by the contribution margin ratio.
If the contribution margin ratio is given, you can directly multiply the change in contribution margin by the contribution margin ratio to find the effect on Net Income.
By following these steps, you can determine the effect on Net Income when the sales quantity increases by 100 units.
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When the price of pears increases, we expect the following:
A. quantity demanded of pears rises
B. quantity supplied of pears falls
C. quantity demanded of pears falls
D. demand for pears falls
E. supply of pears rises
When the price of pears increases, the quantity demanded of pears falls.
The correct option is C. quantity demanded of pears falls
According to the law of demand, as the price of a good increases, the quantity demanded of that good typically decreases, assuming other factors remain constant. This means that when the price of pears increases, consumers are likely to purchase fewer pears, resulting in a decrease in the quantity demanded of pears.
Higher prices often lead to reduced consumer purchasing power and can deter individuals from buying a particular product. In the case of pears, an increase in price may make them less affordable or less attractive compared to other available alternatives. As a result, consumers may choose to buy fewer pears or opt for substitute fruits that are relatively more affordable.
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which types of inventories does a manufacturing business report on the balance sheet? a. finished goods inventory and work in process inventory only b. direct materials inventory and work in process inventory only c. direct materials inventory and finished goods inventory only d. direct materials inventory, work in process inventory, and finished goods inventory
The types of inventories that a manufacturing business typically reports on the balance sheet are: d. direct materials inventory, work in process inventory, and finished goods inventory. Manufacturing businesses typically have multiple stages in their production process.
Each stage involves different types of inventory. Direct materials inventory represents the raw materials and components that are directly used in the manufacturing process but have not yet been incorporated into the final product.
Work in process inventory consists of partially completed goods that are in various stages of the production process. These goods have incurred labor and overhead costs but are not yet finished.
Finished goods inventory includes the final products that have been completed and are ready for sale but have not yet been sold.
By reporting these different types of inventories on the balance sheet, the manufacturing business provides a snapshot of the value of its raw materials, work in progress, and finished goods at a specific point in time.
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what is the total amount of assets invested in apple in the current year? 2. what is apple's return on assets for the current year? 3. how much are total expenses for apple for the current year? 4. is apple's current-year return on assets better or worse than competitors' average of 10% return?
Apple's total assets for the current year amount to $21,650 million. The return on assets for the current year is 2.23%, which is worse than the competitors' average of 10%. Total expenses for Apple in the current year are $180,883 million.
1. Total assets are the amount of money that a company has tied up in property, inventory, investments, and cash. It reflects how much money is invested in the company. To determine Apple's total assets for the current year, we need to subtract total liabilities from the sum of current and prior-year liabilities and equity. Current Year's total assets = $375,319 - ($375,319 - $321,686 + $48,351 - $45,687) = $375,319 - $353,669 = $21,650 million. The total amount of assets invested in Apple in the current year is $21,650 million.2. Return on assets (ROA) is a metric that measures a company's efficiency in generating profit from its assets. The formula for ROA is: ROA = Net income / Total assets. In the current year, Apple's net income is $48,351 million. From the previous question, we know that Apple's total assets are $21,650 million.ROA = $48,351 million / $21,650 million = 2.23%. Therefore, Apple's return on assets for the current year is 2.23%.3. Total expenses are the sum of all the costs incurred by a company to produce and sell its products or services. To calculate Apple's total expenses for the current year, we need to subtract net income from revenues. Current Year's total expenses = $229,234 million - $48,351 million = $180,883 million. The total expenses for Apple for the current year are $180,883 million.4. Apple's current-year return on assets is 2.23%. If we compare this to competitors' average return of 10%, we can say that Apple's return on assets is worse than the average. A return on assets of 2.23% means that Apple is generating $0.0223 of profit for every dollar of assets invested in the company. On the other hand, competitors are generating $0.10 of profit for every dollar of assets invested in the company. This indicates that Apple's management needs to improve its efficiency in generating profit from its assets and find ways to increase its return on assets.Apple's current-year return on assets is lower than competitors' average return of 10%, which indicates that Apple is not utilizing its assets efficiently. Apple's management needs to take measures to increase its return on assets by increasing revenue, reducing expenses, or optimizing the use of its assets. Improving efficiency and increasing return on assets is crucial for Apple to remain competitive in the market.For more questions on assets
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The correct question would be as
Key financial figures for Apple's two most recent fiscal years follow. $ millions Liabilities + Equity Net income Revenues Current Year $375,319 48,351 229,234 Prior Year $321,686 45,687 215,639 Required: 1. What is the total amount of assets invested in Apple in the current year? 2. What is Apple's return on assets for the current year? 3. How much are total expenses for Apple for the current year? 4. Is Apple's current-year return on assets better or worse than competitors' average of 10% return? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the total amount of assets invested in Apple in the current year? Total amount of assets (in $ millions) What is Apple's return on assets for the current year? (Round your percentage answer to 1 decimal place.) Return on assets % How much are total expenses for Apple for the current year? Total expenses (in $ millions) Is Apple's current-year return on assets better or worse than competitors' average of 10% return? Apple's current-year return on assets
Which of the following is most judgmental?
Group of answer choices
Probability
sampling
Quota
sampling
Quota
sampling
Random
sampling
Stratified
sampling
The most judgmental sampling technique among the following is Quota sampling. It is one of the non-probability sampling methods. This method involves selecting people based on pre-specified characteristics and making sure that the total sample has the same proportions of people with each characteristic as are found in the population. Son the right answer is Quota sampling.
Quota sampling is a type of sampling method where researchers deliberately choose participants from pre-defined categories that are representative of the overall population.
In this sampling technique, researchers select a specific number of participants to include from each group or category until they reach a predetermined quota.
In quota sampling, the sample is divided into subgroups based on some criteria, such as age, gender, occupation, and ethnicity. The researcher then chooses participants from each subgroup until the required number of participants is reached. This technique is less random and more judgmental compared to other methods like random and stratified sampling.
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Morganton Company makes one product and it provided the following information to help prepare the master budget:
a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,400, 15,000, 17,000, and 18,000 units, respectively. All sales are on credit.
b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales.
d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound.
e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
1. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $65,000.
13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $7 per direct labor- hour, what is the estimated cost of goods sold and gross margin for July?
Estimated cost of goods sold
Estimated gross margin
The estimated cost of goods sold and gross margin for July can be calculated as follows: The cost of goods sold comprises of direct materials, direct labor, and manufacturing overheads (variable).
Direct Materials = Quantity of finished goods produced x Quantity of materials required per unit x Cost per unit Direct Labor = Quantity of finished goods produced x Quantity of labor hours per unit x Direct labor wage rate.
Estimated gross margin for July= Sales - Cost of goods sold - Variable selling and administrative expense - Fixed selling and administrative expense
= 1[tex]5,000 units × $65[/tex]
per unit
- [tex]$757,500 - (15,000 units × $1.60 per unit) - $65,000= $975,000 - $757,500 - $24,000 - $65,000= $128,500[/tex]
Therefore, the estimated cost of goods sold for July is $757,500 and the estimated gross margin for July is
$128,500.
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Which of the following is an example of an anti-coordination game? Jamal owns one of several fishing boats that catch fish on a public lake with no restrictions on fishing. Matt is deciding whether to use Flash or html5 for his website. A market has enough growth in demand to support only one more firm, and Asad wants that firm to be his. Sharna wants the dictator in her country to be overthrown and must decide whether to protest against him.
The example that best represents an anti-coordination game is:
A market has enough growth in demand to support only one more firm, and Asad wants that firm to be his.
In an anti-coordination game, the players have conflicting interests and want to avoid choosing the same option as others. In this example, Asad and potentially other individuals are competing to be the one firm that can enter a growing market. Each player's goal is to secure the position for themselves and prevent others from entering. Asad's objective is to make sure that the final firm chosen is his, which implies that he wants to avoid coordination with other potential firms. The game is characterized by competition and strategic decision-making based on the anticipation of others' actions.
The other examples mentioned—Jamal's fishing boat, Matt's choice between Flash and HTML5 for his website, and Sharna's protest against a dictator—do not involve the same level of anti-coordination. Jamal's fishing boat and Matt's choice are individual decisions that do not involve direct competition or conflicting interests. Sharna's desire to overthrow the dictator may involve coordination with others who share the same goal, rather than anti-coordination against them.
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How is the size of consumer surplus affected by the elasticity of demand? (Hint: Assume a linear demand curve, and evaluate the elasticity at the intersection of the supply and demand curves.) Feel fr
In conclusion, the size of consumer surplus is affected by the elasticity of demand. A higher elasticity of demand leads to a higher consumer surplus, and a lower elasticity of demand leads to a lower consumer surplus
Consumer surplus refers to the difference between the total amount that consumers are willing to pay for a specific quantity of a good or service and the total amount they actually pay for it. It is affected by various factors, including the elasticity of demand.
A linear demand curve is the perfect curve to analyze the relationship between consumer surplus and the elasticity of demand. At the intersection of the demand and supply curves, the elasticity of demand is calculated.
Elasticity of demand refers to the percentage change in the quantity of a good demanded that results from a 1% change in price. It can be evaluated using the formula:Ed = (Percentage change in quantity demanded) / (Percentage change in price)When demand is inelastic (less than 1), a change in price results in a smaller percentage change in the quantity of goods demanded.
When demand is elastic (greater than 1), a change in price results in a larger percentage change in the quantity of goods demanded.When demand is elastic, a small decrease in price leads to a significant increase in the quantity of goods demanded. Consumers have a higher willingness to pay for goods, and this results in a higher consumer surplus.
When demand is inelastic, a small decrease in price leads to a small increase in the quantity of goods demanded. Consumers are less willing to pay for goods, and this results in a lower consumer surplus.
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2 et 2 of 4 ats Book Hint Ask Print ferences Required information [The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: canh Accounts Receivable Supplies Equipment Land Buildings $ 5,900 Accounts Payable 17,250 Deferred Revenue (deposits) 2,600 Notes Payable (long-term) 13,100 Common Stock 9,350 Retained Earnings 30,000 $ 12,750 4,150 42,500 13,000 5,800 Following are the January transactions: a. Received a $705 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop: $640 rent received for January. c. Delivered five rebuilt pianos to customers who paid $17,525 in cash. d. Delivered two rebuilt pianos to customers for $9,200 charged on account. e. Received $6,800 from customers as payment on their accounts. 1. Received an electric and gas utility bill for $475 for January services to be paid in February. g. Ordered $1,025 in supplies. h. Paid $3,200 on account in January. L. Paid $11,900 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). 3. Post the journal entries to the T-accounts. Show the beginning and unadjusted ending balances in the T-accounts. 2014 . ook $ int = 11 3. Post the journal entries to the T-accounts. Show the beginning and unadjusted ending balances in the T-accounts. Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Cash 5.900 Supplies Land Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Account Receivable Equipment 0 Building 0 Credit Credit Credit Part 2 of 4 2 points Hint Ask Print References Required information Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Ending Balance Debit Beginning Balance Debit Beginning Balance Accounts Payable Notes Payable Retained Earnings Rent Revenue 0 0 0 Credit Credit Credit Credit Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Debi Beginning Balance Ending Balance Debit Beginning Balance Deferred Revenue Common Stock Service Revenue 0 0 Credit Credit Credit Salaries and Wages Expense Credit Beginning Balance Ending Balance Beginning Balance Ending Balance Debit Ending Balance Debit Beginning Balance Rent Revenue Utilites Expense 0 0 Credit Credit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance 0 Salaries and Wages Expense 0 Credit
Adjusted trial balance is prepared after posting January transactions of Ricky's Piano Rebuilding Company and the balances of accounts are adjusted accordingly.
After posting journal entries of January transactions, the T-accounts of the accounts of Ricky's Piano Rebuilding Company are updated. Then the unadjusted trial balance is prepared to ensure the total of all the debit balances equals the total of all credit balances. Next, adjusting entries are made to adjust the balances of some accounts. This is followed by posting adjusting entries to the ledger accounts.
After this, the adjusted trial balance is prepared to ensure the total of debit balances equals the total of credit balances after adjusting entries. If they don't match, the errors are checked and rectified. Finally, the financial statements are prepared based on the adjusted trial balance.
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Why did Keynes prefer Fiscal Policy to Monetary Theory?
(How can they work together?/What is the Liquidity Trap for Keynes?
Does it apply to the economy today?)
John Maynard Keynes, an economist, philosopher, and politician, believed that the government should play an active role in managing the economy to address fluctuations in employment, production, and inflation.
In response to this, he advocated for fiscal policy as a means of regulating the economy.In addition, Keynes regarded fiscal policy as more effective than monetary policy, which is the use of monetary tools by the central bank to manage the economy.
He argued that monetary policy, which involves adjusting interest rates, would not be successful in reviving the economy when it was in recession or when it was operating below its capacity level. Keynes emphasized that monetary policy could only encourage investment in conditions of low-interest rates and abundant liquidity.In contrast, Keynes believed that fiscal policy was more effective since it involved the government increasing public spending to boost aggregate demand in the economy.
Fiscal policy would enable the government to initiate expenditure on infrastructure and other investments that could stimulate aggregate demand. Keynes argued that such expenditures would ultimately lead to increased production and employment.Keynes also proposed that fiscal and monetary policy could work together. In times of recession, Keynes suggested that the central bank could lower interest rates, making borrowing cheaper and more attractive, while the government increased spending to stimulate demand.
This combination of monetary and fiscal policies would enable the government to boost economic growth by increasing aggregate demand and production. Keynes called this strategy the ‘fiscal-monetary policy mix.'The Liquidity Trap is another concept central to Keynesian economics. According to Keynes, the Liquidity Trap is a scenario where the central bank's monetary policies prove ineffective since the interest rate is already so low that it cannot be reduced any further, making it impossible to stimulate investment.
It results in an economy where individuals are unwilling to invest or consume even though the central bank has lowered interest rates to encourage borrowing and investment. Keynes suggested that the government should use fiscal policy to raise public spending during times of a liquidity trap, making it necessary to employ expansionary fiscal policy measures.However, it is important to note that the Liquidity Trap does not apply in the same way today as it did during Keynes' time.
The modern economy has seen the emergence of new monetary tools and mechanisms that enable the central bank to adjust monetary policy in a manner that addresses current economic conditions. Additionally, the increasing focus on monetary policy in contemporary economics has enabled the central bank to influence economic conditions in ways that were not possible before.
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Linda is saving to buy a vacation home in 15 years. She currently has saved $88,917 and wants to have enough for an all-cash offer of $377,902. If Linda makes equal quarterly contributions to her savings account at the end of each quarter and she can earn 2.30% on savings, how much must she deposit each quarter to meet her goal? Linda will make her first deposit one quarter from today.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
Linda should deposit approximately $592.16 every quarter for 15 years. To calculate the quarterly deposit Linda needs to make, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A is the future value of the investment
P is the initial deposit
r is the annual interest rate (expressed as a decimal)
n is the number of times interest is compounded per year
t is the number of years
In this case, Linda wants to accumulate $377,902 in 15 years, with an interest rate of 2.30%. Since Linda will be making quarterly contributions, n will be 4.
Let's solve for P:
377,902 = P(1 + 0.0230/4)^(4*15)
To find the quarterly deposit, we need to rearrange the formula to solve for P:
P = A / (1 + r/n)^(nt)
Substituting the values:
P = 377,902 / (1 + 0.0230/4)^(4*15)
Calculating this equation, the quarterly deposit Linda needs to make to reach her goal is approximately $592.16.
In summary, Linda should deposit approximately $592.16 every quarter for 15 years to accumulate enough savings for an all-cash offer of $377,902.
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*Please answer the question in a minimum 4-5 sentences.*
Thanks.
Why should business leaders be concerned about income
inequality?
Income inequality should be a concern for business leaders due to its potential impact on various aspects of their organizations and the broader economy. The rising gap between high and low-income individuals can have significant implications for businesses' long-term sustainability, consumer demand, social cohesion, and overall economic stability.
From a business perspective, income inequality can lead to reduced consumer purchasing power among lower-income individuals. This can result in decreased demand for goods and services, impacting sales and profitability. Additionally, income inequality can contribute to social unrest, which may disrupt business operations and pose reputational risks.
Moreover, income inequality can hinder talent acquisition and retention. When there is a significant disparity in income levels, it becomes harder for companies to attract and retain skilled employees. This can affect a company's ability to innovate, compete, and maintain a productive workforce.Business leaders should also consider the broader socioeconomic implications of income inequality.
A highly unequal society may face challenges related to social mobility, health outcomes, education, and crime rates. These factors can have indirect effects on businesses, including increased healthcare costs, limited access to skilled workers, and potential disruptions in supply chains.
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Which of the following is not one of the criteria that normally must be met for revenue to be recognized according to the revenue recognition principle for accrual basis accounting?
a. Cash has been collected.
b. Services have been performed.
c. Goods have been transferred.
d. The amount the company expects to receive is determinable.
Option a. "Cash has been collected" is the criterion that is not necessary for revenue recognition according to the revenue recognition principle for accrual basis accounting.
The criteria for revenue recognition in accrual basis accounting do not require cash to be collected. Instead, revenue is recognized when certain conditions are met, regardless of whether cash has been received. The criteria typically include:
Services have been performed: The company has fulfilled its obligations to provide goods or services to the customer.
Goods have been transferred: Ownership or control of the goods has been transferred to the customer.
The amount the company expects to receive is determinable: The company can reasonably estimate the amount of revenue it will earn from the transaction.
These criteria focus on the completion of the revenue-generating activities and the ability to measure and reasonably estimate the revenue. Cash collection may occur either before or after revenue recognition, depending on the specific terms of the transaction or payment terms agreed upon with the customer.
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Presented below is an amortization schedule related to Concord Company's 5-year, \( \$ 170,000 \) bond with a \( 8 \% \) interest rate and a \( 5 \% \) yield, purchased on December 31,2018 , for \( \$
An amortization schedule is used to prepare and keep track of the repayment of loans and other debts. This schedule is important for both the borrower and the lender since it allows them to see how much is being paid back over time.
It's also useful for making sure that payments. In the case of the Concord Company's 5-year, $170,000 bond with an 8% interest rate and a 5% yield, the amortization schedule shows that the bond was purchased on December 31, 2018, for $170,000. The interest rate is 8%, which means that the annual interest payment is
$13,600 ($170,000 x 8%).
The final payment will include $13,600 in interest and $156,400 in principal.
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Debt safety ratio -How much credit can you stand? To maintain financial stability, people should know how much credit they can comfortably tolerate. The debt safety ratio is a computation that defines one's monthly loan repayment burden. It compares loan obligations to income. The formula for the debt safety ratio is: Debt Safety Ratio Debt Safety Ratio Beth wants to determine her current debt safety ratio. Her monthly take-home pay is $5,000. She compiled the following monthly loan payment information: Type of Loan Payment Amount Auto $ 525 Student 75 Credit cards 150 House mortgage 1,600 Total $ 2,350 The total monthly loan payments figure Beth will use when computing her debt safety ratio is $ and include her house mortgage. Beth's debt safety ratio is % and considered or her monthly loan payments must Beth's debt safety ratio changed to 20% , Her take-home pay must have willing to give her a loan than they were before .If her debt safety ratio remains in the safe zone, lenders may now be this change. willing to give her a loan thaa How can periodically computing one's debt safety ratio be useful? Check all that apply It can serve as an early warning system of approaching financial trouble, providing time to take preventive measures. None of these. It can influence decisions whether to return to school, if a loan will be needed to pay for it. It can influence decisions about looking for a higher- or lower-paying job. Grade It Now Save & Con Continue without Type here to search N DII F3 Esc FA F2 FI & % # 6 3 2 A
The debt-safety ratio is a calculation that helps determine how much credit one can comfortably handle. It compares monthly loan obligations to income. To find the debt safety ratio, you need to add up all the monthly loan payments and divide it by the monthly take-home pay.
In the given example, Beth's monthly take-home pay is $5,000. Her monthly loan payments include $525 for auto, $75 for student loans, $150 for credit cards, and $1,600 for the house mortgage, totaling $2,350. So, Beth's debt safety ratio can be calculated as:
Debt Safety Ratio = (Total Monthly Loan Payments / Monthly Take-home Pay) * 100
Debt Safety Ratio = ($2,350 / $5,000) * 100
Debt Safety Ratio = 47%. This means that Beth's debt safety ratio is 47%.
If Beth wants to change her debt safety ratio to 20%, she needs to adjust her monthly loan payments or increase her take-home pay. To maintain a safe debt safety ratio, Beth should aim to keep her monthly loan payments lower than her take-home pay. Lenders may be more willing to give her a loan if her debt safety ratio is in the safe zone.
Periodically computing one's debt safety ratio can be useful for several reasons. It can serve as an early warning system to identify approaching financial trouble and allow time to take preventive measures. Additionally, it can influence decisions such as returning to school or looking for a higher- or lower-paying job, as these choices may impact one's debt obligations.
In conclusion, regularly calculating the debt safety ratio helps individuals maintain financial stability and make informed decisions about their credit capacity.
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The debt safety ratio is a calculation that helps determine how much credit a person can comfortably handle. It compares a person's monthly loan obligations to their income.
To calculate the debt safety ratio, you divide the total monthly loan payments by the monthly take-home pay and multiply by 100.
In the given example, Beth wants to determine her current debt safety ratio. Her monthly take-home pay is $5,000. Her monthly loan payments are as follows:
- Auto loan: $525
- Student loan: $75
- Credit cards: $150
- House mortgage: $1,600
To calculate the total monthly loan payments, you add up all the individual loan payments:
$525 + $75 + $150 + $1,600 = $2,350
Beth's total monthly loan payments are $2,350. To calculate her debt safety ratio, you divide the total monthly loan payments by the monthly take-home pay and multiply by 100:
($2,350 / $5,000) * 100 = 47%
Therefore, Beth's debt safety ratio is 47%. This means that 47% of her monthly take-home pay goes towards loan payments.
If Beth wants to change her debt safety ratio to 20%, she needs to adjust her monthly loan payments accordingly. She can do this by either reducing her total monthly loan payments or increasing her monthly take-home pay.
Periodically computing one's debt safety ratio can be useful for several reasons:
1. It can serve as an early warning system for approaching financial trouble, providing time to take preventive measures. By regularly calculating the debt safety ratio, individuals can identify any increase in their debt burden and take steps to reduce it before it becomes unmanageable.
2. It can influence decisions about returning to school. If a person is considering going back to school and will need to take out a loan to pay for it, their debt safety ratio can help them determine if they can comfortably handle the additional loan payments along with their existing obligations.
3. It can influence decisions about looking for a higher- or lower-paying job. Knowing one's debt safety ratio can help individuals assess whether they can afford to take a lower-paying job or if they need to aim for a higher-paying job to maintain their financial stability.
Overall, regularly calculating the debt safety ratio can provide individuals with valuable information about their financial health and help guide their decision-making process regarding loans and monthly loan payments.
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2.
Question Content Area
Issuance of Materials
On May 7, Jernigan Company purchased on account 710 units of raw materials at $17 per unit. During May, raw materials were requisitioned for production as follows: 298 units for Job 200 at $15 per unit and 284 units for Job 305 at $17 per unit.
Question Content Area
Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank.
May 7 Accounts PayableFactory OverheadFinished GoodsMaterialsWages PayableWork in Process
- Select - - Select -
Accounts PayableCashFinished GoodsMaterialsWages PayableWork in Process
- Select - - Select -
Question Content Area
Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank.
May 31 Accounts PayableFactory OverheadFinished GoodsMaterialsWages PayableWork in Process
- Select - - Select -
Accounts PayableCashFinished GoodsMaterialsWages PayableWork in Process
- Select - - Select
1. On May 7, the purchase of 710 units of raw materials was made at 17 per unit, and it was bought on credit. Therefore, the entry for the same would be as follows: May 7Materials Account Debit12,070Accounts Payable Credit12,0702.
On May 31, 298 units were withdrawn from raw materials for Job 200 and 284 units were withdrawn from raw materials for Job 305. The entry for the same is: May 31.
The accounting system uses a method of recording financial transactions that involves keeping records of credits and debits. This method is referred to as a double-entry system. Every business transaction involves a minimum of two accounts being changed. This system is followed to ensure that the financial statements are accurate.
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Sample, Inc. determined its unit variable cost increased by 15%. Which one of the following will NOT increase as a direct result? the break-even point total variable costs total costs contribution margin
The break-even point, total variable costs, total costs, and contribution margin are all directly affected by changes in unit variable cost.
However, there is one among these options that will not increase as a direct result of the increase in unit variable cost.
What does this represent?The break-even point is the level of sales at which a company neither makes a profit nor incurs a loss. It is calculated by dividing the fixed costs by the contribution margin per unit.
The contribution margin is the difference between the selling price per unit and the variable cost per unit. Therefore, as the unit variable cost increases, the contribution margin decreases, resulting in a higher break-even point.
Total variable costs are the costs that change in direct proportion to the level of production or sales. Since the unit variable cost has increased, the total variable costs will also increase as a direct result.
Total costs are the sum of the fixed costs and the total variable costs. Since the total variable costs increase with the increase in unit variable cost, the total costs will also increase.
To summarize, among the options provided, the contribution margin will not increase as a direct result of the increase in unit variable cost, provided that the selling price per unit also increases proportionally.
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Amazon’s success at anticipating customer needs and fulfilling them is evidenced by its record-breaking profits. Explain in detail:
How does Amazon create value for its customers?
What are the tradeoffs between the convenience Amazon offers and the sustainability issues its business model creates?
Amazon's ability to identify and meet customer requirements is a major driver of its success. Customers have come to appreciate Amazon for its high level of service, convenience, and quality. The following are some of the ways Amazon adds value for its customers:
- One-stop-shop: Amazon offers a wide range of products on its online platform, which means consumers can get everything they need from one location. This removes the need for consumers to shop at multiple stores, saving time and effort.
- Fast Delivery: Amazon's delivery system is one of the best in the world, with one-day, same-day, and two-day shipping options. Customers can get their products delivered quickly and without any hassle.
- Reviews and Ratings: Customers can access product reviews and ratings on Amazon's website, which allows them to make more informed decisions when shopping. This feature makes it easier for customers to find the best products that meet their needs.
While Amazon offers a lot of convenience, its business model raises concerns about sustainability. The following are some of the tradeoffs between convenience and sustainability:
- Carbon Footprint: Amazon's delivery system produces a significant amount of carbon emissions that contribute to global warming. Its same-day delivery and one-day delivery options are not environmentally friendly since they necessitate more frequent transportation of products.
- Packaging: Amazon's delivery system produces a lot of packaging waste, and the company has been criticized for using too much cardboard and plastic in its packaging. This type of waste has a significant negative impact on the environment.
- Treatment of Workers: Amazon has been criticized for mistreating and exploiting its workers, who are typically low-paid and work long hours in harsh conditions. This exploitation has led to poor working conditions, low wages, and limited benefits.
In conclusion, Amazon creates value for its customers by offering a wide range of products, fast delivery, and access to product reviews and ratings. However, the convenience that Amazon provides comes at a cost, and the company needs to address issues such as environmental sustainability and workers' welfare. Amazon must work to reduce its carbon footprint, minimize packaging waste, and improve working conditions to continue being successful.
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The spot price of oil is $99 per barrel. The PV of the storage
costs of storing oil are 5.4% of its price per barrel per year. The
annualized risk free-rate is 2.50%, continuously compounded. Oil
has
The annualized risk-free rate is 2.50% continuously compounded. Therefore, the total cost of storing oil per barrel per year is approximately $7.84.
To calculate the PV of the storage costs, we multiply the storage cost rate by the spot price of oil:
PV of storage costs = 5.4% * $99 = $5.34 per barrel per year.
Now, to determine the total cost of storing oil, we need to consider the annualized risk-free rate. The continuously compounded risk-free rate can be converted to a percentage using the exponential function:
Annualized risk-free rate = e^(2.50%) - 1 ≈ 0.0253 or 2.53%.
The total cost of storing oil is the sum of the PV of storage costs and the risk-free rate:
Total cost of storing oil = PV of storage costs + Risk-free rate
= $5.34 + 2.53%
≈ $5.34 + $2.50 (rounded to two decimal places)
Therefore, the total cost of storing oil per barrel per year is approximately $7.84.
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Quality Retail Group begins the year with inventory of $55,000 and ends the year with inventory of $45,000. During the year, the company has four purchases for the following amounts.
Purchase on February 17 $210.000
Purchase on May 6 $130.000
Purchase on September $160.000
Purchase on December $410.000
Required: Calculate cost of goods available for sale and cost of goods sold for the year.
The cost of goods available for sale for the year is $965,000, and the cost of goods sold for the year is $920,000.
To calculate the cost of goods available for sale and the cost of goods sold for the year, we need to follow these steps:
1. Calculate the cost of goods available for sale:
- Start with the beginning inventory: $55,000
- Add the purchases throughout the year:
- Purchase on February 17: $210,000
- Purchase on May 6: $130,000
- Purchase on September: $160,000
- Purchase on December: $410,000
- Summing up these amounts, we have:
$55,000 + $210,000 + $130,000 + $160,000 + $410,000 = $965,000
2. Calculate the cost of goods sold:
- Start with the cost of goods available for sale: $965,000
- Subtract the ending inventory: $45,000
- The formula to calculate the cost of goods sold is:
Cost of Goods Sold = Cost of Goods Available for Sale - Ending Inventory
- Applying the formula:
$965,000 - $45,000 = $920,000
Therefore, the cost of goods available for sale for the year is $965,000, and the cost of goods sold for the year is $920,000.
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Which of the following is not a category on the statement of
cash flows?
Operating Activities
Financing Activities
Leveraging Activities
Investing Activities
The "indirec
Leveraging Activities is not a category on the statement of cash flows. The statement of cash flows reports on the inflow and outflow of cash of a business during a specific period, which aids in assessing the company's liquidity position.
The statement classifies cash inflows and outflows into three categories:Operating activities - these are cash inflows and outflows associated with the day-to-day operations of the business, including cash from sales and payment of expenses.
Investing activities - cash inflows and outflows related to the purchase and sale of long-term assets or investments, such as property, plant, and equipment. Financing activities - cash inflows and outflows resulting from the issuance or repayment of debt and equity securities, as well as the payment of dividends.
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