BUSINESS COLLEGE

Based on our understanding of inventory cost flows, and given the information listed below for the company's fiscal year 2018, determine beginning inventory in 2018. A physical count indicated that there was $30,000 of inventory on hand at December 31, 2018 (i.e., ending inventory) Sales Freight In Purchase Returns and Allowances Sales Returns Purchase Discounts Purchases Gross Profit Sales Discounts $317,000 $7,000 $8,000 $9,000 $4,000 $245,000 $75,000 $1,000 Select one: a. $36,000 b. $29,000 C. $21,000 d. $32,000 e. $22,000

Answers

Answer 1
Answer:

Answer:

e. $22,000

Explanation:

The computation of the beginning inventory is shown below:

We know that,

Opening inventory + Purchase -   Purchase Discounts - Purchase Returns and Allowances + freight in + Gross profit = Sales - sales return - sales discount + ending inventory

Opening inventory + $245,000 - $4,000 - $8,000 + $7,000 + $75,000 = $317,000 - $9,000 - $1,000 + $30,000

Opening inventory + $315,000 = $337,000

So, the opening inventory equals to

= $22,000
Answer 2
Answer:

Final answer:

The beginning inventory for fiscal year 2018 is $29,000. This was calculated using the principles of inventory cost flows, which led us to the cost of goods sold (COGS). From there, we used the COGS, net purchases, and ending Inventory to calculate the beginning inventory.

Explanation:

To solve this problem, inventory cost flow principles are applied. According to these, beginning inventory plus purchases minus ending inventory equals the cost of goods sold (COGS). In this case, we need to find the beginning inventory. Here is a step-by-step solution:

  1. First, we find the net purchases. This is total purchases ($245,000) minus Purchase Returns and Allowances ($8,000) minus Purchase Discounts ($4,000). This gives us $233,000.
  2. Next, we calculate the COGS. This is total sales ($317,000) minus Sales Returns ($9,000) minus Sales Discounts ($1,000) minus gross profit ($75,000). This gives us $232,000.
  3. Finally, we find the beginning inventory. According to inventory cost flows, Beginning Inventory + Net Purchases - Ending Inventory = COGS. In our case, Beginning Inventory = COGS - Net Purchases + Ending Inventory. This gives us $232,000 - $233,000 + $30,000 = $29,000.

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The current exchange rate of dollars to euros is $18/€11.The risk free rate for dollars is r = 3%. The risk free rate for euros is re = 4%. The dollar denominated price of an option to purchase €22 for $32 in six months is $5.09. Determine the euro denominated price of a put option to sell $22 in six months using the given strike. (Hint: the strike comes from the statement €22 for $32.)

Answers

Answer:

wow simple

Explanation:

so simple

just a little tricky

Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour up to 1,200 hours per year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Bruce works, the government policy is to deduct 60 cents from his welfare stipend for every $1 that he earns in income. With this policy in place, if Bruce works 600 hours, his income will be

Answers

Answer:

Total income= $16,440

Explanation:

Giving the following information:

Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Bruce works, the government policy is to deduct 60 cents from his welfare stipend for every $1 that he earns in income. With this policy in place, if Bruce works 600 hours, his income will be.

Work= 600*6= 3,600

Welfare= 15,000 - (3600*0.60)= 12,840

Total income= $16,440

Which of these is NOT one of the documents that a project manager can refer back to in order to make sure that all planned work has, in fact, been completed

Answers

Answer: d. Resource Breakdown Structure (RBS)

Explanation:

The options are:

a. Work Breakdown Structure (WBS)

b. Project Charter

c. Project Scope Statement

d. Resource Breakdown Structure (RBS)

The documents that a project manager can refer back to in order to make sure that all planned work has, in fact, been completed are the project charter, project scope statement, work breakdown structure. They can all be used to ensure that whatever was meant to be done have all been completed and that nothing is left out.

The project charter simply contains the objectives of the projects and how the project will be done. The project scope statement contains the deliverable of the project,and everyone that the project will impact upon.

The work breakdown structure is used to divide the work into smaller parts for efficiency and effectiveness sake.

It should be noted that the resource Breakdown Structure (RBS) is not part of the documents that the project manager should refer back on.

Final answer:

In project management, there are several documents used to check if all planned tasks have been performed such as the Project Charter, Project Plan, and Work Breakdown Structure (WBS). However, the Employee Handbook is not typically one of these, as it is more associated with HR policies.

Explanation:

In the framework of project management, a number of documents are available for a project manager to reflect on and validate that all anticipated tasks have indeed been carried out. These documents comprise of theProject Charter, Project Plan, and the Work Breakdown Structure (WBS). However, the Employee Handbook is not typically considered one of these documents. This handbook is more associated with HR procedures and policies, unlike the others which are tailored explicitly to project management and ensure that all planned tasks have been implemented as required.

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Scott turner has a bond with 10 years to maturity, a face value of $1,000, an 8% interest rate, and a market price of $800. what is the yield-to-maturity on this bond?

Answers

The yield to maturity, YTM, is the total return you could get from the bond if you keep the bond until it matures. 

To solve:
Yield to maturity = {($1,000 x 0.08) + [($1,000 - $800/10]}/[($800 + $1,000)/2]
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Answers

Answer:

a. No entry is required.

b.   Payroll        Dr.      $30,000  

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c.     Payroll          Dr.           $30,000    

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             FICA Taxes Payable               Cr.      $2,400    

             Wages Payable                       Cr.      $23,100      

d.     Payroll                          Dr.      $30,000  

              Federal Income Tax                       Cr.         $4,500  

              FICA Taxes Payable                       Cr.        $2,400    

              SUTA                                               Cr.        $1,800    

              FUTA                                               Cr.        $300        

              Wages Payable                               Cr.        $21,000

Suppose that consumer spending initially rises by $5 billion for every 1 percent rise in household wealth and that investment spending initially rises by $20 billion for every 1 percentage point fall in the real interest rate. Also assume that the economyâs multiplier is 3.If household wealth falls by 5 percent because of declining house values, and the real interest rate falls by 2 percentage points, in what direction and by how much will the aggregate demand curve initially shift at each price level?

Answers

Answer: Aggregate Demand will shift by $25 billion dollars at each price level

Explanation:

1 % rise in Household wealth increases , Consumer Spending by $5 Billion. We can assume that when Household wealth Decreases by 1% consumer spending decreases by $5 billion dollars.

if Household Wealth Decreases by 5% aggregate demand will fall by $25 Billion (1% represents 5 Billion, so 5% will be $5 Billion x 5). Aggregate Demand Curve will initially shift by $25 billion at each price level when household wealth Falls by 5%
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