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1 year ago

Venus wholesale co. started carrying a new product in december. purchases and sales of this product during the month were:

1 answer:

7 0

<span>During the month of December Venus Wholesale Co. purchased 140 units at $80 per unit on December 20 and sold 60 units on December 26. And on December 28 they purchased 140 units at $120 per unit. They started carrying the product in December.</span>

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Griffin and Rhodes formed a partnership on January 1, 2009. Griffin contributed cash of $120,000 and Rhodes contributed land wit

Tresset [83]

Answer:

correct option is B. $15,000

Explanation:

given data

contributed cash = $120,000

Fair Value of land = $160,000

originally paid = $90,000

Sale value of land = $190,000

to find out

how much of the gain from sale of land should be credited to Griffin for financial accounting purposes

solution

gain on sale is here as

gain on sale = Sale value of land - Fair Value of land -

Gain on sale of land = $190,000 - $160,000

Gain on sale of land = $30000

split the $30000 between the equal partners for a total gain credited to Griffin

total gain credited to Griffin = $15000

so correct option is B. $15,000

6 0

1 year ago

You are a bond analyst working for a hedge fund. A bond you follow has face value 100, has a coupon rate of 5% (paid once a year

nignag [31]

Answer:

$101.22

Explanation:

Please see attachment

7 0

2 years ago

Murkywater Company is considering a lockbox system. Its collection delay is currently 12 days.

Anna007 [38]

Answer:

$6,400,000

Explanation:

Reduction in mailing time = 1.5 day

Reduction in clearing time = 1.5 day

Reduction in firm processing time = 1.0 day

Total = 4.0 days

Daily interest on Treasury bills = 0.025%

Average number of daily payments to lockboxes = 4,000

Average size of payment = $400

The value of the proposal will be the average number of daily payments to lockboxes multiplied by the total of 4 days which is then multiplied by the average payment size. This will be:

= 4000 × $400 × 4

= $6,400,000

7 0

1 year ago

Global use of cell phones grew rapidly between 1989 and 2000. below is a scatterplot of the percentage of people in the world wh

Minchanka [31]

Answer:

Explanation:

The regression equation is,

ln(Cell Phone Subscribers) = -820.894 + 0.411704 Year

or,

Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 Year)

For the year 2005,

Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 * 2005)

= 96.79%

P-value for the significance of the slope is very low (0.000). Thus, the model is statistically significant and the prediction of the model is highly reliable.

5 0

2 years ago

Webster's has sales of $649,000 and a profit margin of 7.2 percent. the annual depreciation expense is $102,600. what is the amo

Dimas [21]

Operating cash flow = ($649,000 x .072) + $102,600 = $149,328. In financial accounting, operating cash flow or as called as OCF in which cash flow provided by operations, cash flow from operating activities or as called as CFO or free cash flow from operations or as called as FCFO bring up to the sum of cash a company produces from the revenues it brings in not including costs related with long-term investment on capital items.

7 0

2 years ago