What term describes the execution of business transactions in a paperless environment, primarily through the Internet

Rusty Hardware makes only cash sales. It began 2021 with a credit balance of $33,400 in the refund liability account. Sales duri

kompoz [17]

Answer:

$54,400

Explanation:

The balance in the refund liability account would be calculated as;

Ending balance of sales return allowance = Opening balance of allowance + Expected sales return - Actual sales return

Given that;

Opening balance = $33,400

Expected return = $740,000 × 7% = $51,800

Actual return = $30,800

Therefore,

Ending balance of sales returns = $33,400 +$51,800 - $30,800 = $54,400

The balance in the refund liability account at the end of 2021 is $54,400

5 0

2 years ago

Barrett Associates, a law firm, hires Attorney Sandra Trent at an annual salary of $ 85 comma 000. The law firm expects her to

netineya [11]

Answer:1.$50/hr

2. $850

3.$30

4.$510

5.$1360

Explanation:

1. Hourly rate= Total annual salary/Number of hours worked

$85,000/1,700 hours=$50/hour.

2. Direct labour cost for client 367 = Hourly(required 1)× Number of hours billed

$50/hour × 17 hours= $850

3. Indirect cost allocation rate = Total indirect costs/ Total number of billed hours

$360,000/12,000 hours= $30/hour

4. Indirect costs allocated to client= Indirect cost allocation rate × Number of attorney billing hours

$30 (from required 3) × 17 hours = $510.

5. Total job cost = direct costs + indirect costs allocated

850 + 510 = 1360.

Enjoy

6 0

2 years ago

Seth owns a local business that provides email updates on surf conditions. He is the only supplier of these email updates in San

klasskru [66]

Answer:

Seth's total profits is $1,535.359

Explanation:

According to the given data we have the following:

MC = 0 and we will ignore fixed costs

Therefore TC = 0

Demand function in Santa barbara is

p = 74 - q

MR = 74 - 2q

Since Seth sets different uniform prices in two markets to maximizes his profit therefore ,

MR = MC

74 - 2q = 0

2q = 74

q=37

p = 74 - 37 = 37

Profit = pq - TC

= 37*37 - 0

= $1,369

Inverse demand finction Goleta is

p = 39 - 4q

MR = 39 - 8q

MR = MC

39 - 8q = 0

8q = 39

q = 4.875

p = 39 - 4.875 = 34.125

Profit = pq - TC

= 34.125*4.875 - 0

= $166.359

Therefore, Seth's total profits = $1,369 + $166.359

Seth's total profits= $1,535.359

Seth's total profits is $1,535.359

6 0

2 years ago

In your portfolio, you began with an equal investment in stocks and Money Market funds. Your stocks are now worth 3 times your M

Jobisdone [24]

Answer:

Explanation:1.6%/2.7%

6 0

2 years ago

Read 2 more answers

Anderson Corporation predicts that this year's sales will total $7,500,000. The selling price for their product is $62.50 per un

Yakvenalex [24]

Answer:

$2,685,000

Explanation:

Sales = $7,500,000 ÷ $62.50

= 120,000 units

Contribution = Sales - Variable cost

= $7,500,000 - (120,000 × $38)

= $7,500,000 - $45,60,000

= $29,40,000

Net income (after taxes) = $165,750

Net income before taxes and interest:

= Net income (after taxes) × (100 ÷ 65)

= $165,750 × (100 ÷ 65)

= 255,000

Therefore,

EBIT = Contribution - Fixed cost

255,000 = $29,40,000 - Fixed cost

Fixed cost = $29,40,000 - 255,000

= $2,685,000

6 0

2 years ago