From the situation above, after Steve Mason made a 40% down payment for the purchased storage shed, he will only need to finance 60% of the price which is the remaining amount.
financed amount = (0.60)($3,074)
The answer to the question above is $1844.4.
Answer:
Annual inventory cost = $ 800.
Explanation:
Demand, D = 4000
Order cost, S = $ 20
Holding cost, H = $ 4
EOQ = sqrt(2 * D * S / H)
= sqrt(2 * 4000 * 20 / 4)
EOQ = 200
Annual inventory cost = Annual setup cost + Annual holding cost
= (D/Q * S) + (Q/2 * H)
= (4000 / 200 * 20) + (200 / 2 * 4) = 400 + 400 = $ 800
Annual inventory cost = $ 800.
Answer:
The adjusting entry are shown below.
Explanation:
According to the scenario, the adjusting entry that can be shown are as follows;
Journal Entry
Sales return and allowance A/c Dr $160,000
To sales refund payable A/c $160,000
( Being Sales return is recorded)
The computation is shown below:
For sales return:
= $2,000,000 × 8%
= $160,000
Journal Entry
Inventory Returns A/c Dr $96,000
To Cost of goods sold A/c $96,000
(Being the cost of goods is recorded)
The computation is shown below:
For inventory return:
= $1,200,000 × 8%
= $96,000
Answer and Explanation:
The Journal entries are shown below:-
A. Cash Dr, $1,680
Accounts receivable Dr, $3,360
Inventories Dr, $6,720
PPE, net Dr, $16,800
To Accounts payable $3,360
To Accrued liabilities $5,040
To Long-term liabilities $6,720
To Cash $13,440
(Being purchase of the assets and assumption of the liabilities is recorded)
B. Equity investment Dr, $13,440
To Cash $13,440
(Being purchase of the assets and assumption of the liabilities is recorded)
Answer:
be in violating of the National Society of Professional Engineers (NSPE) cannon
Explanation:
The National Society of Professional Engineers (NSPE) cannon states each engineer must act for each employer or client as faithful agents or trustees.
Any engineer who violates this risk the reputation and credibility he has with his employers.
Therefore, if Joan takes on the work, she would be in violating of the National Society of Professional Engineers (NSPE) cannon. And she also risks the reputation and credibility she has with ABC Engineering.
