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2 years ago

Taxpayer Info: Star Corp. is a calendar-year, accrual-method C corporation that sells inventory.

Business

1 answer:

Radda [10]2 years ago

6 0

Answer:

Cost of Goods Sold = $100,000,000

Explanation:

given data

gross sales of $300,000,000

returns = $10,000,000

beginning worth of inventory = $20,000,000

During year worth of inventory = $105,000,000

end year worth of inventory = $25,000,000

solution

we get here Cost of Goods Sold that is express as

Cost of Goods Sold = Cost of Goods purchased + Beginning Finished Goods Inventory - Ending Finished Goods Inventory .......................1

put here value we get

Cost of Goods Sold = $105,000,000 + $20,000,000 - $25,000,000

Cost of Goods Sold = $100,000,000

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A bank efficiency ratio is the ratio of a bank's expenses to its revenue, expressed as a percentage. If a bank has \$222$222doll

Ann [662]

Answer:

$296 million

Explanation:

Data provided in the question:

Expenses of the bank = $222 million

Efficiency ratio of the bank = 75%

Now,

The Efficiency ratio is given using the formula as:

Efficiency ratio = $\frac{\textup{Expenses}}{\textup{Revenue}}$

thus,

Revenue = $\frac{\textup{Expenses}}{\textup{Efficiency ratio}}$

on substituting the respective values, we get

Revenue = $\frac{\$\textup{222 million}}{\textup{75}\%}$

Revenue = $\frac{\$\textup{222 million}}{\textup{0.75}}$

Revenue = $296 million

Hence, the revenue for the bank is $296 million

7 0

2 years ago

Individual employees have little influence over ethical expectations and behavior.a. Trueb. False

Oksana_A [137]

Answer:

False.

Explanation:

In Business management, it is very important, essential and necessary that the top executives or management of an organization design, develop and establish a set of ethical codes, principles, laws, rules, regulations and standards that serve as guidelines, procedures and moral compass to all the employees working in an organization. These set of rules help the employees to understand what is acceptable or allowed while working with the company, as well as understanding the difference between right and wrong behaviors in their actions and decision-making.

Hence, individual employees do not have any influence over ethical expectations and behavior because it is out of their control and are primarily being defined by the top executives or management of the company.

5 0

2 years ago

What is the marginal benefit of the 4th fried peanut butter and banana sandwich?

zhannawk [14.2K]

Given the table below describing the total and marginal benefit Elvis gets from fried peanut butter and banana sandwiches.

$\begin{tabular}
{|p {3.5cm}|p {2.0cm}|p {2.6cm}|}
\multicolumn {3} {|c|} {Elvis' Fried Peanut Butter and Banana Sandwich Benefit}\\[2ex]
Fried PBB Sandwiches&Total Benefit (dollars)&Marginal Benefit (dollars)\\[1ex]
1&&42\\
2&&24\\
3&75&\\ 
4&81&\\ 
5&&-3
\end{tabular}$

The marginal benefit of the 4th fried peanut butter and banana sandwich is given by $81 - $75 = $6.

8 0

2 years ago

The bank statement reported an ending balance of $43,860 after deducting $660 in service charges and an addition of $13,500 for

Jet001 [13]

Answer:

Question 1

B. $41,910

Question 2

C. Debit to interest receivable for $90

Explanation:

Question 1

Calculation for the adjusted cash balance

Using this formula

Adjusted cash balance = Cash balance per books +Deposits in transit - Outstanding checks

Let plug in the formula

Adjusted cash balance= $43,860+$16,800-$18,750

Adjusted cash balance= $41,910

Therefore Adjusted cash balance is $41,910

Question 2

Based on the information given The Appropriate journal entry to record accrued interest at the end of its fiscal year on December 31, 2019 will include a:

Debit to interest receivable for $90 which is calculated as:

Interest receivable=[(6%*$18,000*90days/360)/3]

Interest receivable=$270/3

Interest receivable=$90

7 0

2 years ago

(6) Erik receives an eight-year annuity-immediate with monthly payments. The first payment is $300 and payments increase by $6 e

Tamiku [17]

Answer:

$70,264.03

Explanation:

You need to calculate the value of 8 × 12 = 96 different cash flows.

There is not a formula to calculate that, because the $6 dollar increase does not represent growing with a constant rate.

The monthly payments are:

Month payment ($)

0 (today) 300

1 306

2 312

3 318

n 306 + 6 (n-1)

96 (last) 876

Then you must create a spreadsheet with these features:

Five columns
First column is the month, and starts with month 0 (today)
Second column is the initial balance, the first balance is 0
Third column is the interest: it is calculated as the monthly interest by the initial balance. The monthly interest is 6%/12 = 0.06/12 = 0.005
Fourth column is the amount deposited: for month zero it is $300, and every month you add $6.
Fith column is the final balance: it is the sum of the initial balance (second column) + interest (third column) + deposit (fourth colum)
96 rows: 8 years × 12months/year = 96 months.
The initial balance of each row is equal to the final balance of the previous row.

Here a sample of the first three rows:

Month Initial balance Interest Deposit Final balance

0 0 0 300 300

1 300 300×0.005 = 1.5 306 607.5

2 607.5 607.5×0.005 312 922.54

When you do it up to the row 96, the final balance is the balance in the acccount at the end of the eight years.

The last row of your spreadsheet will show:

96 69,042.81 345.21 876 70,264.03

Thus, the balance at the end of eight years will be $70,264.03

7 0

2 years ago