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2 years ago

Read the following selection, and identify any errors.

Business

1 answer:

leva [86]2 years ago

8 0

This selection contains three misspelled words and one comma error.

Explanation:

The bold words throughout the paragraph were corrected. In regards, a comma after the introductory clause was missing from the second sentence.

The comma has also been added between bugs and make.

When reading for the punctuation errors please make sure to follow the introductory clauses with commas, place commas before coordination of conjunctions and make sure semicolons and colons are correctly used.

In addition, the compound sentences must be accompanied by commas before they are transmitted.

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December 3 – Vogel Corporation sold inventory on account to Hatcher Corp. for $492,000, terms 1/10, n/30. This inventory origina

laiz [17]

Answer:

Journals :

December 3

Accounts Receivable :Hatcher Corp. $492,000 (debit)

Cost of Sales $309,000 (debit)

Sales Revenue $492,000 (credit)

Inventory $309,000 (credit)

Sold goods on credit to Hatcher Corp

December 8

Sales Revenue $3,200 (debit)

Inventory $2,010 (debit)

Accounts Receivable : Hatcher Corp. $3,200 (credit)

Cost of Sales $2,010 (credit)

Hatcher Corp. returned goods

December 12

Cash $43,920 (debit)

Discount allowed $4,888 (debit)

Accounts Receivable : Hatcher Corp. $488,800 (credit)

Payment received from Hatcher Corp and discount allowed recognized

Net Sales to be reported :

Net Sales = $483,912

Gross profit percentage ;

36.56 %

Explanation:

Payment made by Hatcher Corp is still within 10 days (the discount period) thus the customer is eligible for a cash discount calculated on the sales amount less returns as follows :

Discount allowed = $488,800 × 1%

= $4,888

Thus,

Net Sales = $492,000 - $3,200 - $4,888

= $483,912

Gross Profit Percentage = Gross Profit /Sales × 100

Where

Gross Profit = Sales - Cost of Sales

= $483,912 - ($309,000 - $2,010)

= $176,922

Therefore,

Gross Profit Percentage = $176,922/ $483,912 × 100

= 36.56 %

8 0

2 years ago

Suppose you are starting a PhD program with only $1,000 in your savings account. The university has agreed to waive your tuition

Pachacha [2.7K]

Answer:

savings balance at the end of 5 years: 139.708,75‬

Explanation:

We have to solve for the 1,000 dollar and the annuity given by the college future value:

$C \times \frac{(1+r)^{time} -1}{rate} (1+r)= FV\\$

C 2,000.00

time 60 (5 years x 12)

rate 0.004583333 (0.055 annual / 12 months)

$2000 \times \frac{1-(1+0.004583)^{-60} }{0.004583} (1+0.004583)= FV\\$

FV $138,393.0537

$Principal \: (1+ r)^{time} = Amount$

Principal 1,000.00

time 60.00

rate 0.00458

$1000 \: (1+ 0.00458333333333333)^{60} = Amount$

Amount 1,315.70

Total 139.708,75‬

8 0

2 years ago

The company had a net income of $248,462, and depreciation expenses were equal to $72,487. What is the firm's cash flow from fin

Mademuasel [1]

Complete Question:

The complete question can be seen the in the attachment at the end of the solution of the question.

Answer:

Option B. -$182,057

Explanation:

The Cash flow from financing activities can be calculated by using the following formula:

Cash flow from financing activities = Changes in the equity finance

+ Changes in long term borrowings + Changes in short term borrowings

- Interest paid - Dividends paid

Here

Changes in the equity = $175,000 common stock in year 2008

- $125,000 common stock in year 2008 = $50,000

Changes in long term Borrowings = $61,290 - $78,445 = - $17,155

Changes in short term Borrowings = $16,753 - $12,004 = $4749

Interest paid is $0 because interest rate is not given hence we can't calculate it.

Dividends paid = $190,568 Opening Retained Earnings + $248,462 Net Profit for the year - $219,379 Closing Retained Earnings = $219,651

Now, by putting values in the above equations, we have:

Cash flow from financing activities = $50,000 - $17,155 + $4749 - 0 - $219,651 = -$182,057

4 0

2 years ago

Wolverine, Inc. began operations on January 1 of the current year with a $12,400 cash balance. 45% of sales are collected in the

steposvetlana [31]

Answer:

$7,700 increase

Explanation:

We can determine the change in Wolverine's cash balance by deducting the cash disbursement and operating expenses from the cash receipts.\

Change in cash balance = Cash receipts - Cash disbursement - Operating expense

Change in cash balance = $48,000 - $33,800 -$6,500

Change in cash balance = $7,700

WORKING:

Cash Receipts

Sales

February ( 59,000 x 45%) $26,550

January ( 39,000 x 55%) $21,450

Total $48,000

Cash disbursement

Purchases

February ( 44,000 x 15%) $6,600

January ( 32,000 x 85%) $27,200

Total $33,800

Operating expenses

Incurred $9,400

Depreciation ($2,900)

Net $6,500

7 0

2 years ago

Sammy created a new logo for his client to use on the company website and office stationery. However, the logo became a blur whe

pychu [463]

Answer:

Sammy needs to use a program and design the ad using density independent pixels.

Explanation:

Based on the scenario being described within the question it can be said that in the future Sammy needs to use a program and design the ad using density independent pixels. This will allow the design to correctly scale up and down by adding the correct ration or pixels needed so that the image is always as clear as originally intended. This will prevent such scenarios as this one.

7 0

2 years ago