Answer:
7.49%
Explanation:
n = Number of payment periods = 3
P = Total lease payment = Annual lease payment * Number of period = $20,700 * 3 = $62,100
FV = fair value of the machine = $50,000
Implicit rate = [($62,100 / $50,000)^(1 / 3)] - 1 = 0.0749, or 7.49%
Answer:
tax expense: 34% 103,020 dollars
Explanation:
Sales 2,400,000
COGS 34% of sales<u> (816,000) </u>
Gross profit 1,584,000
other operating (1,200,000)
depreciation (80,500)
interest expense
450,000 x 9% (40,500)
gain on investment <u> 40,000 </u>
Income before taxes 303,000
tax expense: 34% 103,020
The dividends paid are not an expense or revenue for the period. is the distribution of prior period gains.
Explanation:
To find :
Filter the data in order such that only rows where the sum of the type is food and the sum of the amount is greater than 20 are displayed. The selection of requirements has been set for you in cells a1:c2.
Now,
You clicked the Advanced button on the Data Ribbon Tab in the Sort & Filter Ribbon Section.
You tapped on cell A1.
You pressed the OK button in the Advanced Filter window.
Answer:
True
Explanation:
Using FIFO,
Under First in First out method, items that were purchased first will be availed for sale first. In this case, the opening stock of 5 at $10 items will be sold first. An additional 7 units will be required from the next batch of purchases at $11.
The costs of the first 12 units will be
=(5 x 10)+ (7 x 11)
=50 +77
=$127
With LIFO, the items acquired last will be sold first. In this case, the 12 items sold will come the batch of 15 purchased at $11 in the months
Using LIFO, the cost of goods available for sale.
=12 X $11
=132
The difference is the costs of goods available for sale is $ 5, with FIFO having a lower cost. It means FIFO profits will be $5 more.
