Using the gross method of recording sales, what sales price should be recorded when an item with an $1,100 list price is sold with a 15% trade discount? The sales invoice includes the terms 2/10, n/30?

Answers

Answer 1

Answer:

Use percentage value new value and old value


Related Questions

Which stage of an industry's growth cycle offers the greatest opportunity for an investor who is seeking capital gains?

a. initial development
b. mature growth
c. stability or decline
d. rapid expansion

Answers

Answer:

d. rapid expansion

Explanation:

The main objective of an investor is to invest his capital in an industry that generates profits. Therefore, analyzing the above question, it is correct to say that an organization that is expanding its business quickly, is achieving success in the market in which it operates, so this alternative is ideal for an investor seeking capital gains.

Initial development would be an alternative that does not have a real return for the investor, mature growth is also not the most profitable option, and the stability or decline option does not present a profitable and reliable alternative for an investor.

Which type of credit is used to lease a building?

Answers

Answer:

service credit

Explanation:

Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $6,200 and payment terms of 2/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at:
a. $3,038.
b. $6,200.
c. $6,076.
d. $6,324.

Answers

Answer:

c. $6,076

Explanation:

Calculation for what Alison should record the purchase

Purchase=$6,200 ×(100%-2%)

Purchase=$6,200 ×98%

Purchase=$6,076

Therefore if Alison uses the net method to record purchases she should record the purchase at:$6,076

Before protecting a worksheet to avoid people from editing the formulas, you must ________.

unlock the input cells
lock the input cells
unlock the formula cells
lock the formula cells

Answers

Answer:

Lock the Formulas Cells

Explanation:

Now, go to lock the selected cells with formulas. To do this, press Ctrl - 1 to open the Format Cells dialog again, switch to the Protection tab, and check the Locked checkbox. The locked option prevents the user from overwriting, deleting or changing the content of the cells.

An example of a start of a start up cost

Answers

Answer:

what

Explanation:

please write the question properly I can't understand it

wait what ? maybe your saying for a product? I don’t get the question

Paunch Burger has a beta of 1.2 and just paid a dividend of $2.30 that is expected to grow at 3.2%. If the risk-free rate is 3% and the market risk premium is 6%, what should be the price of the stock

Answers

Answer:

P0 = $33.9085 rounded off to $33.91

Explanation:

Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,

P0 = D0 * (1+g) / (r - g)

Where,  

D0 is the dividend paid  recently

D0 * (1+g) is dividend expected for the next period /year

g is the growth rate

r is the required rate of return or cost of equity

First we need to calculate the required rate of return or r using the CAPM.

Using the CAPM, we can calculate the required/expected rate of return on a stock. This is the minimum return required by the investors to invest in a stock based on its systematic risk, the market's risk premium and the risk free rate.  

The formula for required rate of return under CAPM is,

r = rRF + Beta * rpM

Where,  

rRF is the risk free rate

rpM is the market risk premium

r = 0.03 + 1.2 * 0.06

r = 0.102 or 10.2%

Now using the formula for P0 under the constant dividend growth model,

P0 = 2.3 * (1+0.032)  /  (0.102 - 0.032)

P0 = $33.9085 rounded off to $33.91

Which term best fits, research focused on assessing the effectiveness of a specific marketing tool or tactic?

Answers

Answer:

The term that best fits is:

research focused on assessing the effectiveness of a specific marketing tool.

Explanation:

When we discuss marketing tools, we imply the product development and promotional strategies and actions that a company deploys to develop and promote its products or services.  They are more strategic, while marketing tactics are more operational.  Marketing researches are strategic in nature.  Researches are not usually conducted for marketing tactics.

A seller (or provider) of goods or services to a business organization is known as a:
A Vendor.
B Payee.
C Vendee.
D Creditor.
E Debtor.

Answers

Answer:

A. Vendor.

Explanation:

This individual or company would be known as a vendor. These individual/company offer others a specific good or service for their own personal or commercial use. These individuals/companies make money by manufacturing the product and selling them to others and making a profit in the process. Usually they also sell these products in bulk which still nets them good profit and provides a cheaper price to the buyer.

Novak Corporation amended its pension plan on January 1, 2020, and granted $152,280 of prior service costs to its employees. The employees are expected to provide 1,880 service years in the future, with 330 service years in 2020. Compute prior service cost amortization for 2020. Prior service cost amortization for 2020

Answers

Answer:

26762.74

Explanation:

Prior service cost amortization for 2020 can be calculated by first calculating the average time until the employee's retirement. After calculating the average time until retirement we will divide the service cost at that time

Workings

average time until retirment  = 1880/330

average time until retirment = 5.69 years

prior service cost amortization for 2020 = $152,280/5.69

prior service cost amortization for 2020 = $26762.74

Information on Kimble Company's direct labor costs for the month of January is as follows:________. Actual direct labor hours 34,800 Standard direct labor hours 35,600 Total direct labor payroll $ 269,700 Direct labor efficiency variance-favorable $ 5,600 What is Kimble's direct labor rate variance?

Answers

Answer:

Direct labor rate variance= $26,100 unfavorable

Explanation:

To calculate the direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 269,700/34,800= $7.75

First, we need to calculate the standard rate:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

5,600 = (35,600 - 34,800)*standard rate

5,600/800= standard rate

$7= standard rate

Now, the direct labor rate variance:

Direct labor rate variance= (7 - 7.75)*34,800

Direct labor rate variance= $26,100 unfavorable

Which of the following government agencies is responsible for managing the
money supply in the United States?
A. The U.S. Mint
B. Congress
C. The Federal Reserve Bank
O D. The Department of the Treasury

Answers

Answer:

Explanation:

C The Federal reserve Bank

The government agency that is responsible for managing the money supply in the United States is the Federal Reserve Bank.

What do you mean by money supply?

Money supply refers to the total amount of money held by the public for a particular point.

The money supply in the U.S. is controlled by the U.S. Federal Reserve.  The federal reserve is the central banking system of the United States of America. It serves as the lender of last resort to the major banking institutions.

Therefore, C is the correct option.

Learn more about Money Supply here:

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Urgent Corporation had earnings per share of $4 last year, and it paid a $2 dividend.

Total retained earnings increased by $12 million during the year, and book value per

share at year-end were $40. Urgent Corporation has no preferred stock, and no new

common stock was issued during the year. If Argent’s year-end debt (which equals its

total liabilities) was $120 million, what was the company’s year-end debt/assets ratio?​

Answers

Iendoddfkdjdjdnodndofngkgjgkdme mwkekemdjdodjdoejrodjdidjdix.

the nash corp is considering four investments. Which provides the highest after-tax return for Nash corp. if it is in the

Answers

Answer:

ejrjfjfn

Explanation:

sudjfjejrjfngnv vjvkvkvk

when weighing your employment options consider​

Answers

Answer:

When weighing your employment options, these are very important to consider:

- Employee Benefits

- Pay period

- Taxes taxable income.

Thus, all of these are very important to consider before accepting the job offer.

Explanation:

Cash flows from collections on credit sales are usually reported in the statement of cash flows as part of:


Operating activities.

Financing activities.

Investing activities.

Noncash activities.

This is not reported in the statement of cash flows.

Answers

Answer:

Operating activities.

Explanation:

Operating activities are events and transactions that generate income for a  business. They are the normal business activities of producing or purchasing merchandise, selling goods, and services to customers. They also include business administration and selling expenses.

Examples of incomes from operating activities are

1.  Cash sales

2. Interest received

3. Lawsuit settlements receipts

4. Cash dividends received

5. Collection from accounts receivables

IBM purchased MRO Software Inc. for $740 million. MRO was a niche provider of software and services to help customers including nuclear power plants and oil companies. IBM, plans to fold MRO into its software unit. This is an example of a(n):____________

Answers

Answer:

acquisition

Explanation:

Since in the question it is mentioned that IBM buy MRO software Inc for $740 million where the MRO is a niche provider that help the customers. While on the other hand the IBM plans to fold MRO into the unit of software

So, this is an example of the acquisition as IBM buy the MRO software

hence, the same is to be considered

Whenever significant expansionary policies are implemented and left in place for at least half a year or more, the likely result is:_____.

Answers

Answer:

It starts effecting price level - inflationary pressure in economy.

Explanation:

Expansionary policies are aimed at increasing Aggregate Demand, by Fiscal or monetary approach.

Fiscal expansion policy include increasing government public expenditure, reducing government tax revenue. Monetary Expansion policy aim include credit expansion - from decreased LRR, decreased bank rate, decreased marginal requirement etc

Significant expansion policy left for more than half an year, start exerting inflationary pressure on the economy price level.

Answer:

high inflation or reduced government spending

Explanation:

Your storage firm has been offered 100,000 in one year to store some goods for one year. Assume your costs are $95,000, payable immediately, are the cost of capital is 8%. Should you take the contract?

Answers

Answer:

We should not take the contract

Explanation:

Net present value = Initial investment + Present value of cash inflows

Net present value = -95000 + 100000/1.08

Net present value = -2407.41

Thus, the contract should not be taken because the NPV is negative

what is globalization ?

Answers

Answer:

the process by which businesses or other organizations develop international influence or start operating on an international scale.

Explanation:

Yeah

Gravel Company reported net income of $4,500,000 in 2021. The weighted average number of common shares outstanding during 2021 was 200,000 shares. Gravel paid $250,000 in dividends on preferred stock, which was convertible into 40,000 shares of common stock. How much is diluted earnings per share for 2021

Answers

Answer:

the diluted earning per share is $17.71

Explanation:

The computation of the diluted earning per share is shown below:

Diluted earning per share is

= (Net income - preference dividend) ÷ ( oustanding common stock shares + convertible shares)

= ($4,500,000 - $250,000) ÷ (200,000 + 40,000)

=  $4,250,000 ÷ 240,000 shares

= $17.71

hence, the diluted earning per share is $17.71

We simply applied the above formula so that the correct value could come

And, the same is to be considered

This morning, Mary bought a ten-year, $1000 par value bond with a 7.0% coupon rate and annual payments. She paid $994 for the bond. If the market interest rate on this type of bond decreases to 6.5% tonight, how much will Mary receive for her first coupon payment?a. $32.50.b. $35.00.c. $65.00.d. $69.58.e. $70.00.

Answers

Answer:

e. $70.00

Explanation:

The coupon payment is the amount received by the bondholder on a periodic basis during the life of the bond which is based on the bond's face value which in this case is $1000

Note that the coupon payments are expected to be made once a year.

Coupon payment=bond face value*coupon rate

bond face value=$1000

coupon rate=7%

annual coupon payment=$1000*7%

annua coupon payment=$70.00

The lengths of service of all the executives employed by Standard Chemicals are:

Name Years
Mr. Snow 20
Ms. Tolson 22
Mr. Kraft 26
Ms. Irwin 24
Mr. Jones 28

(a) Using the combination formula, how many samples of size 2 are possible?
(b) List all possible samples of 2 executives from the population and compute their means.
(c) Organize the means into a sampling distribution.
(d) Compare the population mean and the mean of the sample means.

Answers

Solution :

a). There are total 5 executives. Therefore the possible sample size of 2 is

[tex]$^nC_r=\frac{n!}{r!(n-r)!}$[/tex]

[tex]$^5C_2=\frac{5!}{2!(5-2)!}$[/tex]

      [tex]$=\frac{5!}{2! \ 3!}$[/tex]

     = 10

So, there are 10 possible ways for selection of sample size of 2.

b).

     Sample          Samples of service length            Sample mean

Snow, Tolson               20, 22                                    (20+22)/2 = 21  

Snow, Kraft                   20, 26                                         23

Snow, Irwin                   20, 24                                         22

Snow, Jones                 20, 28                                         24

Tolson, Kraft                 22, 26                                         24

Tolson, Irwin                 22, 24                                         23

Tolson, Jones               22, 28                                         25

Kraft, Irwin                     26, 24                                         25

Kraft, Jones                   26, 28                                         27

Irwin,Jones                    24, 28                                         26

c). The mean and the standard deviation of the means of the sampling distribution is given by :

[tex]$\bar{X}= \sum_{i-1}^{10}\frac{\bar{x}_i}{n}$[/tex]

   [tex]$=\frac{21+23+22+24+24+23+25+25+27+26}{10}$[/tex]

   [tex]$=\frac{240}{10} $[/tex]  

  = 24

The variance of the sample means :

[tex]$S^2=\frac{1}{n}\sum_{i-1}^{10}\left(\bar x_i - \bar X \right)^2$[/tex]

   [tex]$=\frac{1}{10}\sum_{i-1}^{10}\left(\bar x_i - 24 \right)^2$[/tex]

  [tex]$=\frac{1}{10}\times(30)$[/tex]

  = 3

Therefore the standard  deviation of the sample means is

[tex]$S=\sqrt{variance}$[/tex]

  [tex]$=\sqrt3$[/tex]

  = 1.732

d). The population means is given by:

[tex]$\mu =\frac{20+22+26+24+28}{5}$[/tex]

  [tex]$=\frac{120}{5}$[/tex]

  = 24

Therefore, we can say that the mean of the sample means is a point estimate of the population mean.

The efficient frontier of risky assets is
A. the portion of the investment opportunity set that lies above the global minimum variance portfolio.
B. the portion of the investment opportunity set that represents the highest standard deviations.
C. the portion of the investment opportunity set that includes the portfolios with the lowest standard deviation.
D. the set of portfolios that have zero standard deviation

Answers

Answer:

A. the portion of the investment opportunity set that lies above the global minimum variance portfolio.

Explanation:

The Efficient frontier refers to the portfolios set that involves that expected return whose return is high at the level of minimum risk so the asset that contains the high risk profile that investment opportunity set portion should be above the variance portfolio i.e. minimum globally

Therefore the correct option is a.

Below is a table for the present value of $1 at Compound interest.

Year 6% 10% 12%
1 0.943 0.909 0.893
2 0.890 0.826 0.797
3 0.840 0.751 0.712
4 0.792 0.683 0.636
5 0.747 0.621 0.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year 6% 10% 12%
1 0.943 0.909 0.893
2 1.833 1.736 1.690
3 2.673 2.487 2.402
4 3.465 3.170 3.037
5 4.212 3.791 3.605

Using the tables provided, if an investment is made now for $23,700 that will generate a cash inflow of $7,900 a year for the next 4 years, the net present value (rounded to the nearest dollar) of the investment, assuming an earnings rate of 10%, is:________

Answers

Answer: $‭1,343‬

Explanation:

Net Present Value = Present value of Cash inflows - Present value of Cash outflows

Cash inflows are constant and so are an annuity.

Present value of Cash inflows = Annuity * Present value interest factor of annuity, 4 years, 10%

= 7,900 * 3.170

= $‭25,043‬

Net Present Value = ‭25,043‬ - 23,700

= $‭1,343‬

PLS HELP ASAP

Owners equity includes (______), which is the amount of profits that your business has been able to save over the past few years.

Answers

Retained earning
Explanation:
A company's profits are distributed to shareholders as dividends, retained in the business for reinvestment, or both. Therefore, retained earning are profits that were not distributed to shareholders. They are funds that belong to owners but withheld for use in the business.
Retained earnings form part of a company's capital. It is money that shareholders have contributed to the business by not sharing in profits.

Lockard Company purchased machinery on January 1, 2020, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. A) Compute 2020 depreciation expense using the straight-line method. B) Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020.

Answers

Answer:

a) $9,000

b) $3,000

Explanation:

The calculation of the depreciation expense for each of the following cases  

a)

As we know that  

= (Purchase cost of machinery - estimated salvage value) ÷ (useful life)

= ($80,000 - $8,000) ÷ (8 years)

= ($72,000) ÷ (8 years)  

= $9,000

b)  Since the asset purchased as on Sep 1, 2020 so the depreciation expenses would be charged for four months i.e. From September to December.

Also at the same time we assume the books are closed as on Dec 31,2020

Therefore, the depreciation expense is

= $9,000 × 4 months ÷ 12 months

= $3,000

In June 2019, Kim filed for divorce from her husband, Eric. Although they lived apart for the last six months of the year, their divorce ios not yet finalized; they are still legally maried. Kim does not wish to file a joint 2019 return. she has no qualifying relative or qualifying relative. What filing status should kim use?.
a. HH
b. MFS
c. S
d. Unmarried for tax purposes.

Answers

Answer:

b MFS

Explanation:

Since in the question it is mentioned that Kim does not want to file a joint return as on the year 2019 also she has no qualifying relative so here the KIM should used the married filing separately

Hence, the same is to be considered

Therefore the correct option is b

And all the other options are wrong

Assume that the risk-free rate is 2.5% and the expected return on the market is 12%. What is the required rate of return on a stock with a beta of 1.1?

Answers

Answer:

12.95%

Explanation:

Given:

Risk-free rate (rRF) = 2.5%

Expected return on the market (rm) = 12%

Stock beta (bs) = 1.1

(rRF) + (rm - rRF)(bs)

0.025 + (0.12 - 0.025) (1.1)

0.025 + 0.095 (1.1)

0.025 + 0.1045

0.1295

12.95%

A company issues bonds with a $100,000 par value, an 8% annual contract rate, semiannual interest payments, and a five year life. The bonds sold for $107,850. The entry to record the issuance of the bonds will include

Answers

Answer:

a. A credit to Premium on Bond Payable $7,850

Multiple-choices

a. A credit to Premium on Bonds Payable of $7,850.

b. A debit to Discount on Bonds Payable of $7,850

c. A credit to Cash of $100.000.

d. A credit to Bonds Payable of $107850

Explanation:

Bonds issued at a premium mean a customer pays a higher price than the face value.  In this case, the premium amount is the difference between $107,850 and $100,000.  When bonds are issued at a premium,  the premium amount is debited to a premium bond account.  

Question 2 of 10
Which action is a bank most likely to take when evaluating a loan application
from a person with a low credit score and a poor credit history?
A. Reducing the interest rate to encourage the person to borrow
more
B. Increasing the value of the loan to earn more interest over time
O C. Denying the loan because the person is unlikely to pay it back
O D. Requiring the person to take more than one loan at a time
SUBMIT
PREVIOUS

Answers

Answer:

C is the correct answer

Explanation:

Denying the loan because the person is unlikely to pay it back is a bank most likely to take when evaluating a loan application from a person with a low credit score and a poor credit history.

What is loan application?

Borrowers apply for loans via a loan application. Through the loan application, borrowers provide vital financial information to the lender.

The loan application is crucial in determining whether or not the lender will approve your funding or credit request.

Thus, option C is correct.

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