Answer:
a) I used an excel spreadsheet to record the T-accounts
the closing entries would be:
Dr Sales revenue 12,100
Dr Purchase discounts 48
Dr Interest revenue 600
Dr Gain on sale of land 1,500
Cr Income summary 14,248
Dr Income summary 8,512
Cr Cost of goods sold 6,450
Cr Sales returns 1,680
Cr Sales discounts 242
Cr Distribution costs 140
Dr Income summary 5,736
Cr Retained earnings 5,736
b) Ross Company
Income Statement
For the year ended December 31, Year 2
Revenues:
-
Sales revenues $12,100
- Sales returns ($1,680)
- Sales discounts ($242) $10,178
Cost of goods sold <u>($6,450)</u>
Gross profit $3,728
Expenses:
-
Distribution costs ($140) <u>($140)</u>
Operating income $3,588
Other sources of income:
-
Gain on sale of land $1,500
- Interest revenue $600 <u>$2,100</u>
Net income before taxes $5,688
Explanation:
Over the years veterinary professionals have played significant and contributory roles in animal and human health and welfare, biomedical research, food quality, food safety, food security, ecology, ethology, epidemiology, microbiology, parasitology, pathology, physiology, psychology, radiology, research and development of pharmaceuticals, remedies, vaccines, and toxicology; also as educators, trainers, and policymakers, and also interlinked with wildlife conservation efforts and the protection of the environment and biodiversity. As challenges have risen, veterinarians have found ways to adapt given that their knowledge and training makes them multifunctional professionals. This aids societies so that its animals stay healthy and productive. It is not surprising that becoming a veterinarian is a highly popular career choice.
Answer:
9 containers
Explanation:
Data given
Container holds (capacity) = 200 units
Demand rate per minute = 10 units
The computation of number of containers needed is shown below:-
Time to fill container = Setup time + Processing time
= 60 + 120
= 180 minutes
Number of containers (n) = (Demand × Time to fill container) ÷ Capacity of the container
= (10 × 180) ÷ 200
= 1,800 ÷ 200
= 9 containers
Therefore for computing the number of containers we simply applied the above formula.
Answer:
Increase by $97,650
Explanation:
Increment Sale $247,500
(450 * $550)
<u>Less Increment cost</u>
Direct materials $90,000
(450 * $200)
Direct labor $36,000
(450 * $80)
Manufacturing overhead $20,250
(450 * $150 * 30%)
Administrative expenses <u>$3,600</u> <u>$149,850</u>
(450 * $80 * 10%)
Profit will increase by <u>$97,650</u>
Answer:
b. 5.0%
Explanation:
For this question, we use the Capital Asset Pricing model (CAPM) formula that is shown below:
Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)
where,
The Market rate of return - Risk-free rate of return) is also known as the market risk premium
So, for stock A, the market risk premium is
10% = 5% + 1.0 × market risk premium
10 - 5% = 1.0 × market risk premium
5% ÷ 1.0 = market risk premium
So, the market risk premium is 5.0%