The following events occurred at Moore's Hobbies and Crafts store during the most recent fiscal year:
Purchased merchandise costing $99,000.
Had sales revenue for the year totaling $145,000; the merchandise sold was purchased for $85,000.
Paid $7,500 transportation-in costs.
Incurred selling and administrative costs equal to 10 percent of sales revenue.
All transactions, sales and purchases, were for cash.
An inventory account at the end of the year indicated merchandise costing $94,500 was on hand.
Required:
Give the amounts for the following items in the Merchandise Inventory account:
a. Ending balance (EB)
b. Transfers-out (TO)
c. Transfers-in (TI)
d. Beginning balance (BB)
Answers
The amounts for the items in the Merchandise Inventory account are Ending balance (EB) = $94,500, Transfers-out (TO) = $85,000, Transfers-in (TI) = $7,500 and Beginning balance (BB) = $176,500.
Ending balance (EB):
The ending balance represents the value of merchandise that is still on hand at the end of the year. In this case, the ending balance is given as $94,500.
Transfers-out (TO):
Transfers-out refers to the cost of merchandise sold during the year. We know that the sales revenue for the year was $145,000, and the merchandise sold was purchased for $85,000. Therefore, the transfers-out amount can be calculated as the cost of merchandise sold, which is $85,000.
Transfers-in (TI):
Transfers-in represents the transportation-in costs, which are expenses incurred to bring the merchandise into the store. It is given that $7,500 was paid for transportation-in costs. Hence, the transfers-in amount is $7,500.
Beginning balance (BB):
To determine the beginning balance, we need to consider the purchases made during the year and adjust for the transfers-in and transfers-out amounts. The purchases made during the year were $99,000, and the transfers-in were $7,500. The transfers-out were $85,000. Therefore, the calculation for the beginning balance can be done as follows:
Beginning balance (BB) = Purchases - Transfers-in + Transfers-out
BB = $99,000 - $7,500 + $85,000
BB = $176,500
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Related Questions
You see Paul dealing with Susan, an upset employee from another department. Susan is complaining about something that your department was supposed to do but didn't. You are in a back room and have not been seen by Susan. Paul is obviously frustrated and unable to deal with Susan effectively. You should:
a. Walk up to the pair and attempt to change the conversation.
b. Introduce yourself to Susan and offer your assistance.
c. Ask your supervisor to offer some interpersonal skills training to Paul.
d. Tell Paul that Susan is needed by the supervisor to end the situation.
Answers
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Performance Assessment Task
Jrotc
This performance assessment task gives you an opportunity to document your achievement of the lesson’s competency: Demonstrate proper etiquette in social settings For this performance assessment task, you will complete the Dining-Out scenario. For this assessment you will: Read the following scenario and individually complete the information below. Be prepared to share your answers in class. The same criteria in the scoring guide below can be used to evaluate your performance of proper etiquette and manners at the annual Cadet Ball. Scenario: The annual Dining-Out is in five months. You have been asked to be a member of the Dining-Out committee. The committee plans all aspects of the Dining-Out. Complete this assignment as if you are preparing for the meeting and event. The committee will discuss invitations, table settings, receiving line protocol (guest speaker and other dignitaries), proper dress, protocol for honoring the nation, and thank you notes. 1. Invitations: Create the text for the invitation. Include all pertinent information including dress code and RSVP: Table Setting: On the back of this page, draw a picture of the appropriate table setting for the following menu: Fresh Garden Salad with Dressing Dinner Roll Tomato Soup Beef Tenderloin or Grilled Salmon New York Style Cheesecake with strawberries Iced Tea and water 2. Receiving line and other protocol: a. Who belongs on the line? b. What order should the guests stand in? c. Address the appropriate protocol for honoring the nation. d. Describe how you will greet the guest of honor(s): e. What attire should you wear? 3. Thank you notes: Create a sample thank you note to send to the guest speaker: 4. Explain your role in the annual Cadet Ball as a Year 1 Cadet: 5. Use the attached scoring guide criteria for what you need to do to complete this task. 6. Submit your completed performance assessment task and scoring guide to your instructor for evaluation and a grade.
Answers
The invitation should include the date, time, location, the dress code, RSVP deadline, and any other important relevant information such as the theme of the event.
The invitation text will be like this: You are cordially invited to attend the Annual Dining-Out hosted by the JROTC program. The event will take place on [date] at [time] at [location]. Dress code for the evening is formal attire, which includes a dress uniform or civilian formal wear.
Please RSVP by [RSVP deadline] to [contact information]. We look forward to your presence at this event.
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Dawn's credit card company charges 2.5% per month, for any unpaid amount. For the month, Dawn purchased $650.00 worth of goods and services. If she pays a minimum of $50.00 What is the remaining balance?
i need help asap
Answers
Answer:
$615
Explanation:
The interest rate on Dawn's credit card is 2.5%
Purchases for the month are $650.
Payments made in the month is $50.
Balance will be
Purchases balance and the interest on the credit card
Purchase balance : $650-$50 = $600
Interest for the month
=2.5% x 600
=0.025 x 600
=$15
Balance will be $600 + $15= $615
a companu is forecasted to generate free cash flow of 21 mill next year and 24 mill the year after. after, csh flows are porjected to grow stable rate in perpetuity. companys cost of capital is 8.1 % . company has 48 mill in debt, 17 mill in cash, 28 mill shares outstanding. using exit multiple for companys free cash flow (EV/FCFF) of 14, what estimate of companys stock price
Answers
The estimated stock price for the company is approximately $14.27 per share.
To estimate the company's stock price, we can use the concept of enterprise value (EV) and apply the exit multiple to the projected free cash flow (FCFF).
Calculate the present value (PV) of the projected free cash flows:
PV1 = 21 / (1 + 0.081)¹ 19.41 million
PV2 = 24 / (1 + 0.081)² = 20.96 million
Estimate the perpetuity value (PVp) using the stable growth rate:
PVp = (FCFF at Year 3) / (cost of capital - stable growth rate)
PVp = 24 / (0.081 - g)
We need to determine the stable growth rate (g). Assuming a conservative growth rate of 2-3% is reasonable. Let's use 2% in this case.
PVp = 24 / (0.081 - 0.02) = 390.16 million
Calculate the total enterprise value (EV):
EV = PV1 + PV2 + PVp
EV ≈ 19.41 + 20.96 + 390.16 ≈ 430.53 million
Deduct the net debt:
Net Debt = Debt - Cash = 48 - 17 = 31 million
Calculate the equity value:
Equity Value = EV - Net Debt
Equity Value = 430.53 - 31 ≈ 399.53 million
Determine the estimated stock price per share:
Stock Price = Equity Value / Number of Shares
Stock Price = 399.53 / 28 =14.27
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You decide to buy a new car, the 2021 Chevrolet Silverado, for $33,695. You make a down payment of 18%, but will need to take out a loan to finance the remaining balance. - Loan Option #1: A 5-year loan with monthly payments at 3.49%, compounded monthly. Loan Option #1 1. What is the down payment for this loan? 2. How much is the loan for? 3. How much is the monthly loan payment? 4. What is the total amount paid for this loan? 5. What is the total interest paid for this loan? 6. What percentage of the total payments goes to interest? 7. What percentage of the total payments goes to principal? Scenario A: You decide to buy a new car, the 2021 Mazda CX-5, for $32,260. You make a down payment of 20%, but will need to take out a loan to finance the remaining balance. - Loan Option #1: A 4-year loan with monthly payments at 5.01%, compounded monthly.
Answers
The down payment for Loan Option #1 is $6,065.10, the loan amount is $27,629.90, the monthly loan payment is $512.45, the total amount paid for the loan is $30,746.95, the total interest paid for the loan is $3,117.05, the percentage of total payments that goes to interest is 10.13%, and the percentage of total payments that goes to principal is 89.87%.
To determine the down payment for Loan Option #1, we multiply the car price by the down payment percentage: $33,695 * 0.18 = $6,065.10. This represents the initial amount you pay upfront.
The loan amount is calculated by subtracting the down payment from the car price: $33,695 - $6,065.10 = $27,629.90. This is the remaining balance that needs to be financed through the loan.
The monthly loan payment is determined using the loan amount, interest rate, and loan term. Since it's a 5-year loan with monthly payments, we first convert the annual interest rate to a monthly rate by dividing it by 12: 3.49% / 12 = 0.2908%. Next, we calculate the monthly payment using the loan amount, monthly interest rate, and loan term: PMT(0.002908, 5*12, -27629.90) = $512.45.
To find the total amount paid for the loan, we multiply the monthly payment by the number of months: $512.45 * (5*12) = $30,746.95. This includes both the principal amount and the interest paid over the loan term.
The total interest paid for the loan is obtained by subtracting the loan amount from the total amount paid: $30,746.95 - $27,629.90 = $3,117.05. This represents the interest cost incurred throughout the loan period.
To calculate the percentage of total payments that goes to interest, we divide the total interest paid by the total amount paid and multiply by 100: ($3,117.05 / $30,746.95) * 100 ≈ 10.13%. This indicates the proportion of the total payments allocated towards interest.
The percentage of total payments that goes to principal can be determined by subtracting the interest percentage from 100%: 100% - 10.13% ≈ 89.87%. This represents the portion of the total payments that goes towards reducing the principal amount.
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Ken is planning on studying the influence of intelligence on the ability to recall events from the 1960s. If key does not account for variables such as age, which could also influence one's ability to recall these events, age could be considered a(n)
Answers
Ken intends to investigate the impact of intelligence on the capacity to recall events from the 1960s. Age might be deemed a confounding variable if the key does not compensate for variables like age, which could potentially impact one's capacity to recall certain events.
Confounding variables (also known as confounding factors or confounders) are extraneous variables that are connected to the dependent and independent variables in a study. To be a confounder, a variable must fulfill two criteria:
It must be linked to the independent variable. This might be a causal link, but it isn't need to be.
It must be connected to the dependent variable in some way.
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You have decided to pursue a career in nursing. You are willing to relocate based on salary differences. The states you are willing to relocate to have the following average hourly wages: NY = $33.55, MA = $33.37, CA = $31.54, and FL $24.58. What is the mean salary for these options?
Answers
Your answer :
The mean of salary for these options is $30.76\
hope I helped. :)
Type the correct answer in the box. Spell all words correctly.
Which quality helps a leader cooperate with team members?
_____ is a quality that helps a leader cooperate with the team on important matters to achieve company goals.
Answers
Answer:
agreeableness
Explanation:
I got the right answer on edmentum
select all that apply a company must make a volume trade-off decision when they blank . multiple select question. do not have enough capacity to satisfy all product demand must trade off units of one product for units of another have excess capacity that is not currently being utilized
Answers
A company must make a volume trade-off decision when they do not have enough capacity to satisfy all product demand and must trade off units of one product for units of another. The correct option is A).
This means that the company needs to prioritize which products to produce and allocate their limited resources accordingly. In this scenario, the company must consider factors such as the profitability of each product, the demand for each product, and the costs associated with producing each product.
On the other hand, if the company has excess capacity that is not currently being utilized, they may also need to make a volume trade-off decision. In this case, the company must determine which products to produce to maximize their profits and utilize their resources effectively. The decision-making process may involve analyzing the market demand, production costs, and potential profitability of each product.
In both cases, making a volume trade-off decision requires careful analysis and consideration of various factors. It is crucial for the company to prioritize their resources effectively to ensure the most profitable outcome.
Additionally, the company must also consider the long-term implications of their decision and make strategic choices that align with their overall business objectives.
Therefore The correct option is A).
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complete question
select all that apply a company must make a volume trade-off decision when they blank . multiple select question.
A) do not have enough capacity to satisfy all product demand must trade off units of one product for units of another
B) have excess capacity that is not currently being utilized
Question 7 of 10
Which of the following is a tax-advantaged savings plan designed to
encourage savings for future college costs?
A. University plan
B. 529 plan
C. Scholarship plan
D. 592 plan
Answers
Answer:
It is the 529 plan to save money for college.
Explanation:
blitz corp. had total sales of $2,970,000 last year and has 105,000 shares of stock outstanding. the benchmark ps is 1.58 times. what stock price would you consider appropriate?
Answers
Based on the given information and the benchmark PS ratio, stock price of $44.69 per share would be considered appropriate for Blitz Corp
To determine the appropriate stock price for Blitz Corp., we can use the price-to-sales ratio (PS) and the total sales and number of shares outstanding for the company.
PS = Stock Price / Sales per Share
We can rearrange this equation to solve for the stock price:
Stock Price = PS x Sales per Share
Sales per Share = Total Sales / Number of Shares Outstanding
Substituting the values given:
Sales per Share = $2,970,000 / 105,000 shares = $28.29 per share
Stock Price = 1.58 x $28.29 per share = $44.69 per share
Therefore, a stock price of $44.69 per share would be considered appropriate for Blitz Corp. based on the given information and the benchmark PS ratio.
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Suppose that the central bank increases interest rates in an economy. How would this affect aggregate demand and inflation
Answers
Answer:
aggregate demand would fall and inflation would fall
Explanation:
how does the fed lower the federal funds rate? select the correct answer below: the fed buys securities on the open market and increases the money supply. the fed buys securities on the open market and decreases the money supply. the fed sells securities on the open market and increases the money supply. the fed sells securities on the open market and decreases the money supply.
Answers
The correct answer is: The Fed buys securities on the open market and increases the money supply.
To lower the federal funds rate, the Federal Reserve (Fed) engages in open market operations. This involves buying securities, such as government bonds, from banks and financial institutions. By purchasing these securities, the Fed injects money into the economy, increasing the money supply.
When the money supply increases, banks have more funds available to lend, leading to a decrease in the federal funds rate. The federal funds rate is the interest rate at which banks lend reserves to each other overnight.
By buying securities on the open market and increasing the money supply, the Fed stimulates borrowing and spending, which helps to lower the federal funds rate and support economic activity.
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Your finance rate is determined by your credit history and credit rating.
True
False
Answers
Answer: True!
Explanation:
Which of the following might vary in on online purchase depending on where the purchaser lives?
A. The quality of the object
B. The sales tax charged
C. The appearance of the item
D. The retail price of the item
Answers
Answer:
The sales tax
Explanation:
When protecting the availability, integrity, and confidentiality of data, services, networks, and systems, the
of the data, service, network, or system should ideally not be compromised.
Answers
When protecting the availability, integrity, and confidentiality of data, services, networks, and systems, the security policies of the data, service, network, or system should ideally not be compromised.
What is the C-I-A security triad?The C-I-A security triad is an abbreviation for confidentiality, integrity and availability. Also, it can be defined as a cybersecurity model that is designed and developed to guide security policies for information security in a business firm, in order to effectively and efficiently protect and make their data available to authorized end users.
In this context, we can infer and logically deduce that the security policies of the data, service, network, or system should ideally not be compromised when protecting the availability, integrity, and confidentiality of data, services, networks, and systems.
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I will mark as brainliest! PLEASE HELP ASAP!¹
Net value is:
a. the total value of the portfolio
b. a share price of the mutual fund
c. the total value of bonds in the portfolio
d. none of the above
¹if applicable and appropriate
Answers
Answer:
b
Explanation:
The correct answer would be a share price of the mutual fund.
The Net Asset Value (NAV) is defined as the total assets less the total liability of a mutual fund or an exchange-traded fund. Mathematically, it is represented as:
NAV = asset's value - liability's value
The net asset value, when it concerns the mutual fund is represented on a per-share basis and is used to determine the value of assets held by investors.
Hence, the net asset value can be viewed as a share price of the mutual fund.
Correct option: b
in this discussion, you will bring these concepts together by creating a uml use case diagram for the driverpass project.
Answers
In the driverpass project, a UML use case diagram is a visual representation that depicts the interactions between actors and the system.
It assists in identifying the use cases, actors, and their relationships, which aids in the identification of system requirements. This diagram allows for a better understanding of the requirements and provides an overview of the system.The following is the UML use case diagram for the driverpass project.
The actors involved in the project are the user, admin, and system. The system is the primary actor, whereas the user and admin are the secondary actors. The user can register, login, and view their account details. They can also book a ride, view the ride details, and cancel a booking.
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donald is a minor. he can enter into any contract an adult can, provided
Answers
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"COMPUTER SHOP"
Management Theory
Management Plan/Sustainability Plan
Answers
The computer store may embrace TQM as its management philosophy (TQM). TQM is a management strategy that places an emphasis on enhancing the quality of products and services continuously.
Does TQM involve ongoing improvement? Why?TQM is centred on enhancing organisational processes continuously to produce high-quality goods and services. Doing things correctly the first time and every time is TQM's ideal objective. The final arbiter of quality is the consumer. Quality cannot be raised without suffering considerable production losses.
Whole quality management definition TQM as a method of management?Total Quality Management (TQM) is a management paradigm based on the idea that by having all of an organization's members, from entry-level employees to its highest ranking executives
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Which level of government are Planning workers most likely to work for?
A) state
B) federal
C) local
D) international
Answers
The level of government is Planning workers most likely to work for local. Thus, the correct option is (C).
A single sovereign state's lowest levels of public administration are collectively referred to as "local government" in the United States.
When the word "government" is used in this context, it explicitly alludes to a level of bureaucracy that is geographically confined and has a set of responsibilities.
A variety of essential services for residents and companies in certain areas are handled by the local government.
Therefore, the correct option is "C".
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1. Why are financial records important? How does keeping organized financial records contribute to successful money management?
Answers
Maintaining structured financial status will make , such as filing yearly state and federal taxes. Also, maintaining proper records can help you maximize deductions. financial progress and status measurement.
What does "financial status" refer to?Profits, losses, sales, income, earnings, debt, EBITDA, etc cash flow are all examples of financial status. Example 1: Financial Status refers to the person in question's business, assets, properties, or operations, regardless of their financial situation.
What various financial situations are there?For-profit companies often utilize the balance sheet, income statement, cash flow statement, and retained earnings statement as their four main financial statement types.
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If the cost of electricity doubles in the area where the Morgans live, which of the following is most likely to be
true?
A. It would be more advantageous for them to wash clothes at home and dry them at the laundromat.
B. It would be more advantageous for them to buy a washer and dryer to save money.
C. It would probably make no difference because the laundromat is likely to increase its prices to cover
increased costs.
D. It would be even more advantageous for them to use the laundromat rather than have a washer and
dryer at home.
5 of 10
Answers
If the cost of electricity doubles in the area where the Morgans live, It would probably make no difference because the laundromat is likely to increase its prices to cover increased costs. Option C. This is further explained below.
What is Pricing?Generally, Decide the payment amount for the service (something offered for sale).
In conclusion, Even if the price of power doubles where the Morgans reside, the laundromat's pricing will almost certainly rise to match the higher expenses.
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County Title Company processes information furnished by others to transfer title to real estate from Dali to Ezra. The furnished information is mistaken. The contract between Dali and Ezra may be rescinded because the mistake
is about a material fact.
is subject to only one interpretation.
was avoidable.
affects a third party.
Expenses incurred because of a breach of contract to obtain performance from another source are not recoverable in a suit for breach.
True
False
Reliance on a certain type of oral contract can be enough to remove it from the Statute of Frauds.
True
false
Answers
The contract may be rescinded because the mistake is a material fact. Expenses incurred to obtain performance from another source are not recoverable. Reliance on a certain type of oral contract can remove it from the Statute of Fraud.
In order to transfer ownership of real estate from Dali to Ezra, the County Title Company processes the information provided by others. The provided information is inaccurate. Due to the fact that the error involves a substantial fact, the contract between Dali and Ezra may be voided.
is only capable of one interpretation.
was preventable.
a third party is impacted.
In a lawsuit for breach, expenses required to get performance from a different source as a result of a breach are not recoverable.
True
A certain kind of oral contract may be exempt from the Statute of Frauds by virtue of False Reliance alone.
True.
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if davidson has 7,000 units on hand at december 31, the cost of ending inventory under the average-cost method is
Answers
The cost of ending inventory under the average-cost method is $75,250.
The average cost method is a method used to determine the cost of inventory in which the cost of goods sold is determined by determining the weighted average of the cost of inventory.
Average cost method = total cost of inventory bought / total units bought
(5,000 x $8) + (15,000 x 10) + (20,000 x 12) = $430,000
Total units bought = 5000 + 15,000 + 20,000 = 40,000
Price of inventory = $430,000 / 40,000 = $10.75
Cost of ending inventory = $10.75 x 7000 = $75,250.
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Connie thinks that her salary and tax rate for next year will be lower than for this year. What step should she take to minimize her taxes in the current year? Select one: a. Accelerate receipt of income. b. Delay deductions. c. Practice tax evasion. d. Accelerate deductions. e. None of these will allow her to minimize her taxes.
Answers
Answer:
d. Accelerate deductions
Explanation:
Tax acceleration is a way that a taxpayer is able to hasten tax deduction.
Taxi is paid in the year that it was incurred instead of in the subsequent year.
This way tax expense that will be paid from the current year is reduced and tax income will increase.
In the given scenario where Connie thinks that her salary and tax rate for next year will be lower than for this year, the best way to minimise her tax expense starting this year is by tax acceleration
ECON 1005.1 Class Assessment #2. July 29, 2022 Demand and Supply Suppose that we have the following market supply and demand schedules for skaters (a) Pleose spot the supply curve and the demand curve for skaters in Exibit1 and show the points of the amounts and name the both axes on the graph. (b) What is the equilibrium quantity and equilibrium price for skaters? (c) If the price of skaters were 100π is there a surplus or shortage? How many units of surplus or shortage are there? Will this cause the price to rise or fall?
Answers
if there is a shortage, the price may tend to rise as suppliers seek to capitalize on the increased demand.
(a) In Exhibit 1, you would typically plot the supply curve and the demand curve for skaters. The supply curve represents the quantity of skaters that suppliers are willing to sell at different prices, while the demand curve represents the quantity of skaters that consumers are willing to buy at different prices. The horizontal axis is usually labeled as "Quantity" and the vertical axis as "Price."
(b) To determine the equilibrium quantity and equilibrium price for skaters, you would need the specific supply and demand schedules. Without that information, it is not possible to provide an answer.
(c) If the price of skaters were 100π (where π represents a specific numerical value), you can compare it to the equilibrium price to determine if there is a surplus or shortage. If the price is higher than the equilibrium price, there would be a surplus, indicating that suppliers are willing to supply more skaters than consumers are willing to buy at that price. The quantity of surplus can be calculated as the difference between the quantity supplied and the quantity demanded at the price of 100π.
If the price is lower than the equilibrium price, there would be a shortage, indicating that consumers are demanding more skaters than suppliers are willing to provide at that price. The quantity of shortage can be calculated as the difference between the quantity demanded and the quantity supplied at the price of 100π.
Whether this situation will cause the price to rise or fall depends on the market dynamics and the responsiveness of suppliers and consumers to price changes. In general, if there is a surplus, the price may tend to fall as suppliers try to sell off excess inventory. Conversely, if there is a shortage, the price may tend to rise as suppliers seek to capitalize on the increased demand.
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please help in business with this work management tool
Answers
The above tool could be best used as a spreadsheet to manage workload by prioritizing tasks based on their importance and setting specific scheduling details for each task.
What is the explanation for the above response?The tool can be used to track progress and identify any barriers to performance that may arise during the completion of the task.
Also, a contingency plan can be developed to ensure that the task is completed even if unforeseen issues arise. By using this tool, one can manage their workload more effectively and efficiently by breaking down complex tasks into smaller, more manageable steps.
This tool can also help to ensure that deadlines are met and that goals are achieved in a timely manner.
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What will happen to the market for video games if consumer income drops?
A. Graph 1
B. Graph 2
C. Graph 3
D. Graph 4
Answers
Answer:
a
Explanation: