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2 years ago

Which of the following statements is NOT true?

Business

1 answer:

zubka84 [21]2 years ago

5 0

Answer:

Letter b is correct.

Explanation:

The affluence effect is dependent on the slope of aggregate demand, that is, when price decreases increase and the consumer gains more purchasing power to consume more goods and services. In the economic cycle, there are several other variants that determine economic activities, not just a single variable such as price, but a set of variables such as the amount of resources and capital and the volume of production.

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After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and

ExtremeBDS [4]

Answer:25,000 in 12 years = 25,000*(1.09)^12= $70,316

Value of $7,500 deposits in 6 years

Use financial calculator and input these values

N=6

PV=0

PMT=7,500

I=9

Compute FV= 56,425, after this

PV= 56,425

PMT= 15,000

I=9

N=6

Compute FV=$ 207,480

We will have (207,480+ 70,316) = $277,796 in 12 years to start our business.

Explanation:

4 0

2 years ago

Suppose that coffee growers sell 200 million pounds of coffee beans at $2 per pound in 2015 and 240 million pounds for $3 per po

VARVARA [1.3K]

Answer: C) the demand for coffee beans has increased

Explanation:

The law of supply states that: "all things being equal" the higher the price the higher the quantity supplied and the lower the price, the lower the quantity supplied.

Coffee growers sold just 200 million pounds of coffee when the price was $2 per pound but they increased their supply of coffee to 240 million pounds when the price per pound is $3.

This is an evidence to show that suppliers supply more products when price increase in order for them to make more profits.

3 0

2 years ago

A seller uses a perpetual inventory system, and on April 4, it sells $5,000 in merchandise to a customer on credit terms of 3/10

Reika [66]

Answer:

Explanation:

The journal entry on April 13 for receipt of payment from customer is as follows:

Date Account title and explanation Ref Debit Credit

13-April Cash ($5000 - $150) $4,850

Sales discount ($5000* 3%) $150

Accounts receivable

$5000

(To record the receipt of payment from customer net of discount

7 0

2 years ago

The balance sheet for Seuss Company at the end of the current fiscal year indicated the following: Bonds payable, 10% (20-year t

Alla [95]

Answer:

Explanation:

1) Interest expense = 5000000 × 10% = 500000

Times interest earned = Income before interest and tax / Interest expense = (1500000+500000) / 500000 = 4 Times

2) Earning per share of Common Stock = (Income after tax-Income tax-preferred dividend) / Share outstanding = (1500000-200000-100000 ) / 200000 = 6 per share

3) Price earning ratio = 75 / 6 = 12.50 times

4) Dividend per share of Common Stock = 150000 / 200000 = 0.75 per share

5) Dividend yield = 0.75 / 75 = 1%

8 0

2 years ago

Read 2 more answers

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions

Vikentia [17]

Answer:

1. $77,200 Cost of goods available for sale & 1,800 units available for sale

2. 400 units in ending inventory

3. FIFO $18,400, LIFO $18,000, WEIGHTED AVERAGE $17,760 and SPECIFIC $18,200

4. FIFO $46,200, LIFO $45,800, WEIGHTED AVERAGE $45,560 and SPECIFIC $46,000

Explanation:

1. Cost of goods available for sale is computed as follows:

1-Jan 600 45 27,000

10-Feb 400 42 16,800

13-Mar 200 27 5,400

21-Aug 100 50 5,000

5-Sep 500 46 23,000

1,800 77,200

2.Units ending inventory is computed by deducting available units for sale 1,800 by the units sold 1,400 equals 400 units.

3. Ending inventory is computed as follows:

FIFO

5-Sep 400 x $46 = $18,400.00

LIFO

Jan 1 400 x $45 = $18,000.00

SPECIFIC

10-Feb 100 x $42 = 4,200.00

21-Aug 50 x $50 = 2,500.00

5-Sep 250 x $46 = 11,500.00

400 18,200.00

WEIGHTED AVERAGE

Jan 1 600 x $45.00 = 27,000.00

10-Feb 400 x $42.00 = 16,800.00

13-Mar 200 x $27.00 = 5,400.00

1,200 41.00 49,200.00

Sales (800) x $41.00 = (32,800.00)

Total 400 $41.00 16,400.00

21-Aug 100 x $50.00 = 5,000.00

5-Sep 500 x $46.00 = 23,000.00

Total 1,000 $44.40 44,400.00

Sale (600) $44.40 (26,640.00)

Balance 400 $44.40 17,760.00

4. computation of gross profit are as follows:

FIFO

SALE

15-Mar 800.00 75.00 60,000.00

10-Sep 600.00 75.00 45,000.00

1,400.00 105,000.00

COGS FIFO

Date Units Price Amount

1-Jan 600 45 27,000

10-Feb 200 42 8,400

13-Mar 200 27 5,400

21-Aug 100 50 5,000

5-Sep 100 46 4,600

TOTAL 1,400 252 58,800

GROSS PROFIT $46,200 ($105,000 - $58,800)

LIFO

SALE

15-Mar 800 75.00 60,000.00

10-Sep 600 75.00 45,000.00

TOTAL 1,400 105,000.00

COGS LIFO

Date Units Price Amount

1-Jan 200 45 9,000

10-Feb 200 42 8,400

13-Mar 200 27 5,400

21-Aug 100 50 5,000

5-Sep 500 46 23,000

1,400 59,200

GROSS PROFIT $45,800 (105,000 - 59,200)

SALE SPECIFIC

Date Units Price Amount

1 Jan 600 75 45,000

10-Feb 300 75 22,500

13-Mar 200 75 15,000

21-Aug 50 75 3,750

5-Sep 250 75 18,750

TOTAL 1,400 105,000

COGS SPECIFIC

Date Units Price Amount

01-Jan 600 45 27,000

10-Feb 300 42 12,600

13-Mar 200 27 5,400

21-Aug 50 50 2,500

5-Sep 250 46 11,500

TOTAL 1,400 59,000

GROSS PROFIT $46,000 (105,000 - 59,000)

WEIGHTED AVERAGE

Date Units Price Amount

1-Jan 600 45.00 27,000.00

10-Feb 400 42.00 16,800.00

13-Mar 200 27.00 5,400.00

1,200 41.00 49,200.00

Sale (800) 41.00 (32,800.00)

Total 400 41.00 16,400.00

21-Aug 100 50.00 5,000.00

5-Sep 500 46.00 23,000.00

Total 1,000 44.40 44,400.00

Sales (600) 44.40 (26,640.00)

Balance 400 44.40 17,760.00

Therefore, the computation of cost of goods sold is,

COST OF GOODS SOLD

15-Mar 800 41.00 32,800.00

10-Sep 600 44.40 26,640.00

Total 1,400 59,440.00

SALE

15-Mar 800 75.00 60,000.00

10-Sep 600 75.00 45,000.00

Total 1,400 105,000.00

Gross profit $45,560.00 (105,000 - 59,440)

7 0

2 years ago

Read 2 more answers

Which of the following statements is NOT​ true?

Which of the following statements is NOT true?