Answer:
Journal Entry are given below
Explanation:
solution
Journal Entry are as
PERPETUAL INVENTORY SYSTEM
debit credit
(1) March 2, Merchandise inventory $800,000
Borst Company $800,000
( record Inventory purchase )
(2) March 6,
Borst Company $140,000
Merchandise inventory $140,000
( record goods return )
(3) March 12,
Borst Company (800000-140000) $660,000
Cash (800000-140000) ×98% $646,800
Merchandise inventory $13,200
(800000-140000)× 2%
( record goods return )
The Profit and Loss Statement.
This shows profits and losses over a set period of time.
Retail Banks. The majority of people are the most familiar with retail banks, as they are aimed primarily at consumers. ...
Commercial Banks. Commercial banks service primarily individuals and small businesses. ...
Central Banks. ...
Cooperative or Mutual Banks. ...
Investment Banks. ...
Private Banks. ...
Online Banks. ...
Credit Unions.
Answer:
$56,000
Explanation:
The computation of the warranty expense for the month of November is shown below:
Warranty expense = Number of printers × Estimated percentage of defectives parts × Average cost per printer
= 20,000 printers × 2% × $140
= 400 × 1460
= $56,000
We simply multiplied the number of printers with the estimated percentage and the average printer cost so that the warranty expense could come
Answer:
d. the firm will lose $750
Explanation:
marginal cost is the derivate of the cost function: It represent the cost of producting an additional unit
cost: 750 + 5q
dC/dQ = 5
We have determinate that marginal cost is $5 thus, we should price at the same value. The mistake from the goverment is to equalize marginal cost with price instead of marginal revenue.
This will make the firm loss the fixed component of the cost as will sale to pay up the variable cost.
The fixed cost is $750 so that is the loss from operations
