The cost of goods sold for the Askew Company for the year ending June 30, 2021 is $233,000.
Using this formula
Cost of goods sold=Beginning Inventory+ Net purchases- Ending Inventory
Where:
Beginning Inventory=$32,000
Net purchases=($240,000-$6,000-$10,000+$17,000)=$241,000
Ending Inventory=$40,000
Let plug in the formula
Cost of goods sold=$32,000+$241,000-$40,000
Cost of goods sold=$233,000
Inconclusion the cost of goods sold for the Askew Company for the year ending June 30, 2021 is $233,000.
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The only accurate statement about consequentalism is:
Answer:
is a class of normative, teleological ethical theories that holds that the consequences of one's conduct are the ultimate basis for any judgment about the rightness or wrongness of that conduct.
Randall Go-Karts sells motorized go-karts. Randall Go-Karts are motorized and are typically purchased by amusement parks and other recreation facilities, but are also occasionally purchased by individuals for their own personal use. The company uses a perpetual inventory system. Selected transactions in the month of December follow:
Requirement: Describe how each of the contingent liabilities in the selected December transactions would be treated in Tripp's financial statements for 2022.
a. Dec 22 transaction will be footnoted as a contingent liability.
b. Dec 22 transaction will not be footnoted because it is unlikely to be a loss.
c. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will also be footnoted.
d. Dec 5 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will also be footnoted.
e. Dec 27 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will not be footnoted since it is recorded on the financial statements.
f. Dec 27 transaction will be reported as a liability on the balance sheet and a loss on the income statement. Transaction will also be footnoted.
g. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will not be footnoted since it is recorded on the financial statements.
h. Dec 5 transaction will be footnoted as a contingent liability.
The description of the treatment of each contingent liability, arising from the affected December transactions in the financial statements of Tripp are as follows:
1. Dec 5 transaction will be treated as h. footnoted
2. Dec 22 transaction will not be treated as b. not footnoted
3. Dec 27 transaction will be reported as e. liability and expense
4. Dec 31 transaction will be reported as g. liability and expense
Thus, contingent liabilities are disclosed if their amounts can be reasonably estimated and they are likely to occur. They are footnoted if the amounts cannot be reasonably estimated, though they are likely to occur.
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The transactions are in the attachment.
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Suppose that a Spotify Premium subscriber downloaded a playlist to their phone but never listened to the songs. They then cancelled their subscription and were disappointed to find out that their songs were no longer available on their phone. The fact that the consumer could only listen to those songs when actively subscribed to the service demonstrates which characteristic that distinguishes products from goods
The fact that consumers can only listen to these songs when they have actively subscribed to the Spotify service demonstrates the perishability characteristic that differentiates products from goods.
The services have the following characteristics:
IntangibilityInseparabilityVariabilityPerishabilitySince perishability is a characteristic that guarantees that services cannot be stocked, that is, if they are not used, they cease to exist.
Therefore, when canceling the subscription to the music streaming service, users were no longer able to have the songs downloaded on their phone available, demonstrating the perishability characteristic of the services.
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What is the origin, development, and importance of ethics in business?
Answer:
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx's attack on capitalism.
mark me as a brainlist.
Scarcity can be eliminated through
A) the use of market mechanisms.
B) exploration that helps us find new resources. C) wise use of our resources.
D) None of the above because scarcity cannot be eliminated.
Answer:
D) None of the above
Explanation:
because scarcity cannot be eliminated
In 2021, Ava, an employee, who files single, has AGI of $51,900 and incurred the following miscellaneous itemized deductions this year: Union dues and work uniforms: $1,080 Home office expenses: $3,240 Unreimbursed employee expenses: $1,512 Gambling losses to the extent of gambling winnings: $1,400. What is Ava's total itemized deduction related to these items
Ava's total itemized deduction related to these items is $6,194.
Total Itemized Deduction:
Home office expenses: $3,240
Union dues and work uniforms $1,080
Unreimbursed employee expenses $1,512
Less: 2%of AGI ($51,900×2%) ($1,038)
$4,794
Gambling losses to the extent of gambling winnings $1,400
Total Itemized Deduction $6,194
($4,794+$1,400)
Inconclusion the total itemized deduction related to these items is $6,194.
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2. There is no way to resolve the conflict between commercial business goals and those of social innovation. True or False?
a. True
b. False
There is no way to resolve the conflict between commercial business goals and those of social innovation. Social innovation follows a different process to more commercial forms of innovation. Whilst empathy and a need for social justice may be necessary attributes of a social entrepreneur, they are not sufficient. so true.
Camilla works as a data entry specialist in the local government offices. The government office is trying to update by getting rid of all paper records. Which is where Camilla comes in. What is one task that Camilla might have as part of the job
I will give 20 points And brainliest
Answer:
Camilia would likely have to either 1. scan the documents to online or 2. Copy all information on the documents to online. Due to it being a government officer, all documents are likely important and will be copied to the cloud/drive.
Explanation:
This is just a answer using logic, not any actual definitions.
Answer:
scanning the records into the system
Explanation:
its the most logical considering they want all paper records gone, but probably want to keep them in the system
is D right?
Scarcity can be eliminated through
A) the use of market mechanisms.
B) exploration that helps us find new resources. C) wise use of our resources.
D) None of the above because scarcity cannot be eliminated.
Answer:
C
Explanation:
wise use of our resources
Answer:
Hello, There! I'll be Gald to help!
QuestionScarcity can be eliminated through
AnswerC is the Correct Answer
Explanation:
By Using Our resources Wisely We Would Not have scarity Because We are using them Wisely
Also
This reduces scarcity and gives us more satisfaction from our existing resources.
Therefore The Answer is option C.
Information related to Pagnucci Co. is presented below.
1. On April 5, purchased merchandise from Mockingbird Company for $20,000 terms 2/10, net/30, FOB shipping point.
2. On April 6 paid freight costs of $500 on merchandise purchased from Mockingbird.
3. On April 7, purchased equipment on account for $29,000.
4. On April 8, returned damaged merchandise to Mockingbird Company and was granted a $3,000 credit for returned merchandise.
5. On April 15 paid the amount due to Mockingbird Company in full.
(a) Prepare the journal entries to record these transactions on the books of Pagnucci Co. under a perpetual inventory system.
(b) On April 20, Pagnucci sold 60% of the goods purchased from Mockingbird. What amount would they record as cost of goods sold?
(c) How would the April 6 entry be different if the $500 was paid to ship goods to a customer (rather than for shipping costs for goods purchased)?
(d) Assume that Pagnucci Co. paid the balance due to Mockingbird Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
a) Journal Entries on the books of Pagnacci Co. are as follows:
April 5 Debit Inventory $20,000
Credit Accounts Payable (Mockingbird Company) $20,000
To record the purchase of goods on account, terms 2/10, net/30, FOB shipping point.
April 6 Debit Freight-in $500
Credit Cash $500
To record the payment of freight
April 7 Debit Equipment $29,000
Credit Accounts Payable $29,000
To record the purchase of equipment on account.
April 8 Debit Accounts Payable (Mockingbird Company) $3,000
Credit Inventory $3,000
To record the return of goods for credit.
April 15 Debit Accounts Payable (Mockingbird Company) $17,000
Credit Cash $16,660
Credit Cash Discount $340
To record the payment on account in full, including discounts.
b) The cost of goods sold is $10,500 ($17,500 x 60%).
c) The difference is that the $500 will not be included in the cost of of the inventory purchase. Instead, it will be treated as a selling expense (freight-out).
d) The Journal Entry to record the payment on May 4 instead of April 15 is as follows:
May 4 Debit Accounts Payable (Mockingbird Company) $17,000
Credit Cash $17,000
To record the payment on account in full.
Data Analysis:
April 5 Inventory $20,000 Accounts Payable (Mockingbird Company) $20,000 terms 2/10, net/30, FOB shipping point.
April 6 Freight-in $500 Cash $500
April 7 Equipment $29,000 Accounts Payable $29,000
April 8 Accounts Payable (Mockingbird Company) $3,000 Inventory $3,000
April 15 Accounts Payable (Mockingbird Company) $17,000 Cash $16,660 Cash Discount $340
Cost of goods available for sale:
Inventory purchase = $20,000
Freight-in 500
Inventory return = (3,000)
Cost of goods available $17,500
Cost of goods sold (60%) $10,500
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Mooradian Corporation’s free cash flow during the just-ended year (t = 0) was $160 million, and its FCF is expected to grow at a constant rate of 5.0% in the future. Assume the firm has zero non-operating assets. If the weighted average cost of capital is 12.5%, what is the firm’s total corporate value, in millions?
The firm’s total corporate value, in millions is: $22,400,000.
Using this formula
Firm Total Corporate Value =Free cash flow (1+ Growth) / Average cost of capital - Growth
Where:
Free cash flow=$160 million
(1+ Growth) =(1+5.0%)
Average cost of capita=12.5%
Growth=5%
Let plug in the formula
Firm Total Corporate Value= $160,000.000 ( 1+0.05)/12.5%-5%
Firm Total Corporate Value=$160,000,000(1.05)/7.5%
Firm Total Corporate Value=$168,000,000/7.5%
Firm Total Corporate Value=$22,400,000
Inconclusion the firm’s total corporate value, in millions is: $22,400,000.
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Warner Company has $196,000 of total fixed costs and sells products A and B with a product mix of 40% A and 60% B. Selling prices and variable costs for A and B result in contribution margins per unit of $8 and $4, respectively. Compute the break-even point. Enter product mix answers in decimal form. Round weighted average unit contribution margin to two decimal places, if applicable.
The break-even point of Warner Company is 3,500 units.
Here, we are going to calculate the break-even point of Warner Company.
Product Product Mix Contribution margin Weighted Average unit
[1] per unit[2} contribution margin[1*2]
A 40% $8 $3.2
B 60% $4 $2.4
Total $5,6
Formula for Break Even point is Fixed cost / Weighted average unit contribution margin
Break-even point = $196,000 / $5,6
Break-even point = 3,500 units
Therefore, the break-even point of Warner Company is 3,500 units.
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3. Identifying the Problem, Defining the Purpose, and Collecting Data Business reports require planning. Before you begin writing a report, you should define the project and gather data. In order to determine the problem your report will help to solve, you should first . What are the typical sources for gathering factual data for informal reports
The first step to show the problem the report focuses on is writing a clear problem statement. On the other hand, the most common sources for informal reports include observations, electronic sources, and printed materials.
In companies, the purpose of most reports is to describe or a process in a detailed way. In the case of reports that focus on problems, these reports aim at explaining through accurate data a problem or issue in the company.
One of the first elements in these reports is a clear problem statement, this means the problem the reports explain is summarized in a short but clear and accurate statement. This statement is usually one of the first elements in the report because it helps the writer know what the report is about.
On the other hand, reports need to illustrate and explain the problem based on realistic and accurate data. Because of this to write a report sources such as articles, observations, printed documents, etc.
In the case of informal reports the most common sources are:
Observations: Information you obtain by monitoring a process or phenomenon.Electronic sources: Information related to the problem found on the internet or in electronic records.Printed materials: Documents such as letters, reports, etc. that provide information about the problem.Learn more in: https://brainly.com/question/11509805
What was California’s GDP in 2010 in millions?
$5,840.7
$5,810.2
$5,814.4
$5,339.8
$4,050.9
Answer:5,814.4
Explanation:
State the role of the light stage of photosynthesis to the Calvin cycle.
Explanation:
In ths light independent reactions or calvin cycle, the energized electrons from the light dependent reaction provides the energy to form carbohydrates from carbon dioxide molecules. The light independent reactions are something called the calvin cycle because of the cyclical nature of the process.
Explanation:
In ths light independent reactions or calvin cycle, the energized electrons from the light dependent reaction provides the energy to form carbohydrates from carbon dioxide molecules.
What's the purpose of the three questions you should ask before using your emergency fund?
The three-question:
Is it unexpected?
Is it necessary?
Is it urgent?
Answer:
to reconsider yourself before spending your emergency funds.
Explanation:
if it's not important then don't use it.
is it unexpected?.. well do you expect to use this fund.
is it necessary?... do you really need this stuff
is it urgent?.... do you need these things right now?
Which questions can most help a writer revise an argumentative essay?
Answer:
Explanation:
Argumentative essays are written to prove a point and convince the reader that your claim is superior to opposing points. Therefore, A) “Do details help support the claim?” Is the best answer out of these choices..
In order for money to work properly, there can be only a certain amount of it in
the economy and there must be rules on who can print it. This is an element
of which characteristic of money?
A. Divisibility
B. Acceptability
C. Limited supply
D. Uniformity
Explanation:
A. Divisibilityor C. Limited Supply,
B. Acceptability
Money is a medium of exchange, it is divisible, acceptable, and scarce supply.
What exactly is the definition of money?Something widely accepted as a medium of exchange, a measure of value, or a method of payment: for example. A: newly minted metal currency that has been officially coined or stamped, B: monetary value.
Money's characteristics are:
A. Dissolvability
B. Acceptance
C. Scarcity of Supplies
Therefore, options A, B, and C aptly explain the money's characteristics.
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Which part of the Business Cycle would this graph represent?
bust is the correct answer
i need answers right no
Answer:
what's the whole question
I can't understand
The hazard management process consists of a number of activities designed to reduce loss of life and destruction of property. Natural hazard management has often been conducted independently of development planning. A distinctive feature of OAS technical assistance is the integration of the two processes.
A Empresa Comercial Ltda. apresenta um ciclo de caixa de 20 dias e efetua pagamentos anuais no montante total de R$ 180.000.
Com base nestas informações, calcule o caixa mínimo necessário para a empresa manter-se líquida.
A alternativa que apresenta o valor correto para o caixa mínimo necessário, é:
a.
15.000
b.
22.500
c.
25.800
d.
10.000
e.
20.000
Answer:
A Resposta é d) 10.000
Explanation:
The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest. The appropriate entry in the General Fund to record this transfer would be
a. Debit Expenditures $100,000; Credit Cash $100,000.
b. Debit Other Financing Uses Transfer Out $100,000; Credit Cash $100,000.
c. Debit Fund Balance Transfer Out $100,000; Credit Cash $100,000.
d. Debit Other Financing Sources Transfer In $100,000; Credit Cash $100,000.
Answer:
A. Debit Expenditures $100,000; Credit Cash $100,000.
Explanation:
Don't really have one, but hope this helped! :D
What was your largest contributor from indoor water? Why?
I need description
A firm says it cut its labor costs by 35 percent between 2014 and 2019. Workers were paid a wage rate, including benefits, of $80 an hour in 2014 and $58 an hour in 2019. If the CPI was 202 in 2014 and 218 in 2019, did the real wage rate fall by more or less than 35 percent?
If the workers were paid a wage rate, including benefits, of $80 an hour in 2014 and $58 an hour in 2019. If the CPI was 202 in 2014 and 218 in 2019, did the real wage rate fall by more or less than 35 percent?
Between year 2014 and year 2019, the real wage rate fell by less than 35 percent.Calculation for the real wage rate in 2014
Using this formula
2014 Real wages=2014 Wage rate/2014 CPI×100
Let plug in the formula
2014 Real wages=$80/202×100
2014 Real wages=39.60%
Calculation for the real wage rate in 2019
Using this formula
2019 Real wages=2019 Wage rate/2019 CPI×100
Let plug in the formula
2019 Real wages=$58/218×100
2019 Real wages=26.61%
Based on the above calculations between year 2014 and year 2019, the real wage rate fell by less than 35 percent.
Inconclusion if the workers were paid a wage rate, including benefits, of $80 an hour in 2014 and $58 an hour in 2019. If the CPI was 202 in 2014 and 218 in 2019, did the real wage rate fall by more or less than 35 percent?
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Consider that your income has decreased this year from $50,000 to $10,000. You bought 2 quantities of product B last year and decide to purchase 9 quantities of product B this year. Keeping all other factors the same, which statement is correct regarding your income elasticity of demand and product B?
The statement that is correct regarding the income elasticity of demand and product B is E. The income elasticity of demand is -0.95 and the designer jeans are considered inferior goods.
From the complete question, the elasticity of demand will be calculated thus:
= (9 - 2)(50000 + 10000) / (2 + 9)(10000 - 50000)
= -420/440
= -0.95
Therefore, the income elasticity of demand is -0.95 and the designer jeans are considered inferior goods since it has a negative income elasticity of demand.
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At Dec. 31 Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
Answer:
to make the money
Explanation:
Kendra is a quality assurance inspector for a toothpaste manufacturer what would be one task that Kendra might perform as part of her job
I give 20 points
Answer:
A. Kendra opens random boxes of toothpaste and inspects the tubes inside.
I am sorry if it is not correct, it just seems like the most logical answer, as she assures the quality of toothpaste.
If u had to wear the same shoes, what would it be? Mine would be jordan's cause that's what I wear everyday
Answer: Same, i got these new Red and Black jordans that look fineeeeeeee
Explanation:
How would you balance demands from different stake holders that are at
variance with each other?