Business, 16.10.2019 06:00 alimfelipe
Vibrant company had $850,000 of sales in each of three consecutive years 2016–2018, and it purchased merchandise costing $500,000 in each of those years. it also maintained a $250,000 physical inventory from the beginning to the end of that three-year period. in accounting for inventory, it made an error at the end of year 2016 that caused its year-end 2016 inventory to appear on its statements as $230,000 rather than the correct $250,000. required: 1. determine the correct amount of the company's gross profit in each of the years 2016−2018. 2. prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2016−2018.
Answers: 1
Business, 22.06.2019 15:20
Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.
Answers: 3
Business, 22.06.2019 18:00
Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan
Answers: 2
Business, 22.06.2019 20:30
(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?
Answers: 1
Business, 22.06.2019 21:00
An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.
Answers: 2
Vibrant company had $850,000 of sales in each of three consecutive years 2016–2018, and it purchased...
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