This would be a general partnership because both parties are responsible equally.
Answer:
The correct answer is B. $1,800.00
Explanation:
LIFO Perpetual table is attached.
The table shows purchases, sales and balance of each period.
As the final inventory is 120 units, we suppose the sales of the year. Applying LIFO, our ending inventory cost is 120 units, each one at $15
So, total cost is $1800 (120* 15)
Answer:
b. $1750
Explanation:
Provided that
Sale of the company = $87,500
Credit terms = 2% if payment is received within 10 days and the prescribed time limit is 30 days
The amount of the sales discount would be
= Sale of the company × discount percentage
= $87,500 × 2%
= $1,750
We simply multiplied the sale of the company with the discount percentage so that the sales discount could come
Answer:
The cost of goods sold is $ 4,800.
Explanation:
This problem requires us to calculate cost of good sold. The opening and closing balance of finished goods is given in the question. The cost of good manufactured is also provided in the question.
The cost of good sold can be calculated by finding the amount transferred from finished good account. Detail calculation is given below.
Finished good inventory begining $ 1,000
Cost of good manufactured $ 5,000
Finished good inventory ending ($ 1,200)
Cost of good sold $ 4,800
Answer:
0.063 or 6.3% (or more)
Explanation:
Given:
Combined Tax Bracket = 30% = 30/100 = 0.30
Yields of corporate Bonds = 9% = 9/100 = 0.09
Yield to Shift Investors to choose municipal bonds = ?
Calculation:
Yield from corporate bond = (After tax yield) x Yield rate of corporate Bonds
= (0.70) x (0.09)
= 0.063 or 6.3%
Working note:
After tax yield = (1 - tax rate )
After tax yield = (1 - 0.30 )
After tax yield = (0.70)
so, they must give 6.3% yield
