Yuli Lu works as a commission merchant who helps businesses sell their existing office equipment, except computers. For desks, tables, chairs, and filing cabinets, Yuli charges 18% of the sales price. For printers and copiers, she charges 30%. She also deducts any delivery charges. For Harris Corp, she sold assorted furniture at $7,860 and two large copiers for $2,450 each. The total delivery charges were $318. Compute the net proceeds that would be due to Harris Corp.
Q: Financial Accounting
A: Step 1: Define Debt-equity RatioThe debt-equity ratio is the ratio of the market value of debt to…
Q: Give true answer this general accounting question
A: Explanation: In the given case, we are required to calculate the total comprehensive income of…
Q: financial accounting question?....
A: Step 1: Define Risk-Free ReturnAn investment that provides a fixed return irrespective of market…
Q: Need information
A: Detailed explanation:Benefits of increased segment disclosures : 1. Improved Transparency By making…
Q: Need answer the accounting question not use ai
A: Step 1:Computation of the sum of the returns over four successive years: Sum of the returns = 15% +…
Q: Financial accounting
A: Explanation of Total Manufacturing Costs:Total manufacturing costs refer to the sum of all direct…
Q: Can u help me
A: Explanation of Variable Lease Payments: Variable lease payments are amounts that vary based on…
Q: Business 123 Introduction to Investments May I please have the solutions for the following…
A: Bond Yield CalculationsGiven Information- Par Value (F) = $1,000- Market Price (P) = $1,125- Coupon…
Q: Provide this question general accounting solutions
A: Step 1: Define Price-Earnings RatioThe price-earnings ratio is a measure of how many times the…
Q: Financial Accounting
A: Step 1: Define Common Stock ValuationThe fundamental value of common stock for a firm can be…
Q: Solve this accounting question not use ai
A: Step 1: Define Inventory ManagementThe inventory for a firm is usually categorized into raw…
Q: Answer accounting
A: Solution= total manufacturing costs + work in process, beginning - work in process, ending +…
Q: Accounting
A: Step 1: Define Return on AssetsReturn on assets comes under the profitability ratio, which evaluates…
Q: I am waiting for answer
A: Impact on Financial Statements: The new standard is likely to have a significant impact on the…
Q: 8
A: Explanation of Gross Sales: Gross sales represents the total amount of all sales transactions for a…
Q: Please solve this question accounting
A: Step 1: Define Carrying Amount of BondThe carrying amount is the face value plus the unamortized…
Q: Please help, give me a detailed answer to this. There is one more column on the far right that says…
A: Step 1:Long term assets, also known as fixed assets which doesn't not have immediate liquidity…
Q: Provide this accounting questions solution
A: Step 1: Calculate the Risk PremiumRisk Premium = Market Return - Risk-Free RateIn this case:Risk…
Q: Provide Answer of this one please need Correct Answer general accounting
A: Step 1: Define Average Collection PeriodThe average collection period is determined when analyzing…
Q: A market study completed for a company reveals that the company can expect annual revenues of…
A: 1. Annual Net Cash Flows (NCF):Data:Revenue: $300,000/year.Cash Operating Expenses:…
Q: General accounting
A: Step 1: Define Bad DebtA loss to the company arises when the goods are sold on credit, and the…
Q: Financial Accounting ii
A: Explanation of Overhead Costs: Overhead costs are indirect expenses that cannot be directly traced…
Q: Give true answer with correct calculation for this financial accounting question
A: Step 1: Define Liquidity RatiosLiquidity ratios are a group of ratios used in financial statement…
Q: Provide correct answer the accounting question only experts answer give
A: Step 1: Define Exchange of Fixed AssetIn exchange of a fixed asset, if the transaction has…
Q: What is the full cost per unit?
A: Explanation of Full Cost: Full cost represents the total expense of producing and selling a unit,…
Q: I need answer of this question financial Accounting
A: To calculate the arithmetic average annual return, we sum up all the returns and divide by the total…
Q: Provide this question solution general accounting
A: Step 1: Define Operating Cash FlowOperating cash flow equals the cash generated from the primary…
Q: Problem 8.7
A: Step 1: The cash flow cycle can be calculated using the formula - Cash flow Cycle = Average age of…
Q: Four grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a…
A: Step 1: The direct material budget is prepared as follows: Formula table: Result of the above…
Q: Give me answer accounting richard inc.
A: Step 1: Define BudgetingThe budgeting activity is usually carried out for the forthcoming periods…
Q: I need answer of this question accounting
A: Explanation: In the given case, we are required to calculate the amount of liabilities from the data…
Q: What will be the asset's annual depreciation on this general accounting question?
A: Step 1: Define DepreciationEvery asset used in the business undergoes a decrease in its productivity…
Q: Need answer the accounting question not use ai
A: Step 1: Define Overhead RateThe conventional method of allocating overhead to product is by…
Q: Pippa Manufacturing Company acquired a plant asset for $7,000 on January 1, 2016, and depreciated…
A: Step 1:Computation of the annual depreciation before the change in estimate: Annual depreciation=…
Q: Please give me correct answer gneral accounting...
A: Step 1:To calculate the debt-equity ratio, First calculate the Equity multiplier using the DuPont…
Q: When a single manufacturing process yields two products, one of which has a relatively high sales…
A: In a manufacturing process, when two or more products are produced simultaneously, they are referred…
Q: 59 Question: Financial accounting Equipment with an original cost of $50,000 and accumulated…
A: Explanation of Book Value: Book value represents the current worth of an asset on a company's…
Q: Need answer the accounting question not use ai
A: Computation of adjusted cash balance as per books on January 31 by using the following method:Bank…
Q: Please help, give me a detailed answer to this.
A: Step 1: Depreciation:-Depreciation is decrease in the value of assets. As per going concern when…
Q: in following question solution
A: Step 1: Define Beginning Inventory:There is an accounting period during which every recording…
Q: Kunkle Company wishes to earn 7% annually on its investments. If Kunkle makes an investment that…
A: The problem is asking us to find the minimum number of years (X) that Kunkle Company needs to…
Q: Give true answer this accounting question
A: Step 1: Define Bank ReconciliationA bank reconciliation is an internal working paper prepared to…
Q: Correct Option?
A: Under IFRS 9, how changes in a financial liability's credit risk are handled depends on whether it's…
Q: Please give me answer general accounting
A: Step 1: Define Factory OverheadsFactory overheads refer to all expenses that cannot be traced back…
Q: Give me answer financial accounting...
A: Step 1: Define Time Value Of MoneyA sum of money in hand is always dearer than the expected cashflow…
Q: I need your help to carry out everything that must be calculated in a payroll and that the values…
A: Step 1: Gather Employee Hours and RatesWe will calculate regular hours, overtime hours, and the…
Q: Please help, give me a detailed answer to this.
A: Step 1. Update DepreciationWe need to record depreciation from December 31, 2025, to April 1,…
Q: hh
A: Under the straight-line method, the amortization amount would be the same each year until fully…
Q: 1.) Harris Incorporated had the following transactions: On May 1, Harris purchased parts from a…
A: Here's a summary of the journal entries in table format:No.DateGeneral Journal…
Q: Answer this theoretical Question of financial accounting
A: Definitions:1. Non-Controlling Interests (NCI)Non-controlling interests (NCI) represent the…
I need answer of this question general finance
Step by step
Solved in 2 steps
- ABC Kitchen sells dishwashers and garbage disposals to customers. The company buys the dishwashers and garbage disposals from a wholesaler and it costs the company $7,000 for each dishwasher and $4,000 for each garbage disposal. The company sells its dishwashers for $10,000 and garbage disposals for $6,080 each. ABC Kitchen will install the dishwashers and garbage disposals for $1,000 each. On Dec 26, 2021, during Boxing day sales, ABC Kitchen offered a deal to its customers where they could buy a dishwasher, garbage disposal, including full installation package for a total price of $14,000. The Company sold 100 packages. The dishwashers and garbage disposals were shipped and delivered on Jan 18, company completed half the installations on Jan 22, 2022 and the 2022 remaining installations were done on Jan 29, 2022. *Question: Prepare all the required journal entryesther has a small store. last month, she purchased merchandise costing p75,000.00, for which she paid freight of p7,500.00. she sold 60% of the merchandise for p68,000.00, after spending for various expenses totalling p13,000.00. she also paid p2,000.00 for interest on money she borrowed for her store. a. how much was her cost of sales? b. how much gross profit did she make? c. how much operating profit did she make? d. what was her net profit?Suppose Frances earns $825 per week working as a programmer for PC Pros. She uses $9 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Dmitri $450 per week to work the cash register. Dmitri uses $175 to purchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Frances spends $9 to buy a box of aspirin. Frances earns $825 per week working for PC Pros. Dmitri spends $175 to purchase software from PC Pros. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. a. Frances's labor b. The $450 per week Dmitri earns working for Pillmart Pharmacy c. The aspirin Frances receives d. The $175 Dmitri spends to purchase software from PC Pros
- Kristin is a distributor of bras picture frames. For 20X4, she plans to purchase for P30 each and sell them for P45 each. Kristin’s fixed costs are expected to be P 240,000. Kristin’s only other cost will be variable costs of P60 per shipment for preparing the invoice and delivery documents, organizing the delivery, and following up for collecting accounts receivable. The P60 cost will be incurred each time Kristin ships an order of picture frames, regardless of the number of frames in the order. Suppose Kristin sells 40,00 picture frames in 800 shipments in 20X4, what is the kristin’s operating income for 20X4? a. P 246,000 b. P 325,000 c. P 211,000 d. P 312,000Kristin is a distributor of bras picture frames. For 20X4, she plans to purchase for P30 each and sell them for P45 each. Kristin’s fixed costs are expected to be P 240,000. Kristin’s only other cost will be variable costs of P60 per shipment for preparing the invoice and delivery documents, organizing the delivery, and following up for collecting accounts receivable. The P60 cost will be incurred each time Kristin ships an order of picture frames, regardless of the number of frames in the order. Suppose Kristin anticipates making 500 shipments in 20X4, how many picture frames must Kristin sell to break-even in 20X4 a. 18,000 b. 12,000 c. 14,000 d. 16,000Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?
- Can you please solve this accounting question ?The Cycle Shoppe has decided to offer credit to its customers during the spring selling season. Sales are expected to be 330 bicycles. The average cost to the shop of a bicycle is $300. The owner knows that only 93 percent of the customers will be able to make their payments. To identify the remaining 7 percent, she is considering subscribing to a credit agency. The initial charge for this service is $540, with an additional charge of $6 per individual report. What is the amount of the net savings from subscribing to the credit agency? A. $3,790 B. $3,920 C. $4,080 D. $4,410 E. $4,950Jordan opens her own custom sign business where she sells a sign for $80 a piece. She has been able to sell 20 signs per month. Her costs of materials to make the signs is $15 and she is paying sales tax of $4 per sign. In addition, she purchased online ads for $300 per month and pays for printing of $100 per month. To be able to run the business, Jordan has reduced her hours so her salary fell from $3,000 per month to $2,600 per month and she no longer rents out the studio apartment at her home for $500 per month. Calculate the below for Jordan's monthly financial statement. Total Sales Revenue Total Explicit Cost Accounting Profit Total Implicit Cost Total Economic Profit
- Rita Jekyll operates a sales booth in computer software trade shows, selling an accounting software package, Abacus. She purchases the package from a software company for $175 each. Booth space at the convention hall costs $13,000 per show. Required a. Sales at past trade shows have ranged between 300 and 500 software packages per show. Determine the average cost of sales per unit if Ms. Jekyll sells 300, 350, 400, 450, or 500 units of Abacus at a trade show. Use the following chart to organize your answer. Is the cost of booth space fixed or variable? b. If Ms. Jekyll wants to earn a $56 profit on each package of software she sells at a trade show, what price must she charge at sales volumes of 300, 350, 400, 450, or 500 units? c. Record the total cost of booth space if Ms. Jekyll attends four, five, six, seven, or eight trade shows. Is the cost of booth space fixed or variable relative to the number of shows attended? d. Ms. Jekyll provides decorative shopping bags to customers who…Anna sells a certain pair of earrings at her store for $45.20 per pair. Her overhead expenses are $5.00 per pair and she makes 40.00% operating profit on selling price., Round to the nearest cent a. What is her amount of markup per pair of earrings? b. How much does it cost her to purchase each pair of earrings? Company A and Company B sell the same model camera for $110 and $135, respectively. During a sale, Company A offers a discount of 10% on the camera. What should Company B's rate of markdown be on the camera to match Company A's sale price?Do not provide solution in image format. and give the explanation.