The multi-step Income Statement, Statement of Owner's Equity, and Classified Balance Sheet of PR 1 Sierra Department Store were prepared using the figures provided in the Adjusted Trial Balance.
In accounting, the Income Statement is a financial report that reports a business's income and expenses over a specific accounting cycle. To achieve the objectives of the revenue report, it is essential to prepare a multi-step Income Statement for PR 1 Sierra Department Store for the fiscal year ending February 28, 20X1. This is important because it is used to evaluate the financial performance of an organization.
Multi-Step Income Statement
The Income Statement for PR 1 Sierra Department Store can be prepared using the following headings:
Income Statement
PR 1 Sierra Department Store
For the Fiscal Year Ended February 28, 20X1
Sales Revenue $620,000
Cost of Merchandise Sold $(412,700)
Gross Profit $207,300
Selling Expenses:
Sales Commissions Expense $(14,500)
Safari Expense $(4,300)
Other Selling Expenses $(12,000)
Total Selling Expenses $(30,800)
Administrative Expenses:
Office Salaries Expense $(80,000)
Utilities Expense $(2,400)
Insurance Expense $(7,200)
Depreciation Expense-Store Building $(52,500)
Depreciation Expense-Office Equipment $(42,900)
Property Tax Expense $(4,800)
Total Administrative Expenses $(190,600)
Total Operating Expenses $(221,400)
Operating Income $(14,100)
Other Revenues and Expenses:
Interest Revenue $1,000
Interest Expense $(11,000)
Total Other Revenues and Expenses $(10,000)
Net Income $4,100
Statement of Owner's Equity
The Statement of Owner's Equity is a financial statement that shows the changes in the owner's equity of a business over a specific accounting cycle. It can be calculated as follows:
Statement of Owner's Equity
For the Fiscal Year Ended February 28, 20X1
B. Swett, Capital, February 28, 20X0 $80,000
Investments This Year $0
Net Income $4,100
Less: Drawings $(12,000)
B. Swett, Capital, February 28, 20X1 $72,100
Classified Balance Sheet
The Classified Balance Sheet for PR 1 Sierra Department Store can be prepared as follows:
Classified Balance Sheet
February 28, 20X1
Assets
Current Assets:
Cash $23,800
Accounts Receivable $50,300
Merchandise Inventory $75,000
Prepaid Insurance $4,000
Total Current Assets $153,100
Long-Term Assets:
Store Building $620,000
Less: Accumulated Depreciation $(52,500)
Office Equipment $190,000
Less: Accumulated Depreciation $(42,900)
Total Long-Term Assets $714,600
Total Assets $867,700
Liabilities and Equity
Current Liabilities:
Accounts Payable $79,300
Interest Payable $1,000
Property Taxes Payable $4,800
Sales Commissions Payable $4,800
Utilities Payable $2,400
Total Current Liabilities $92,300
Long-Term Liabilities:
Mortgage Payable, Long Term $80,000
Total Long-Term Liabilities $80,000
Total Liabilities $172,300
Owner's Equity:
B. Swett, Capital $72,100
Total Liabilities and Equity $867,700
In conclusion, the multi-step Income Statement, Statement of Owner's Equity, and Classified Balance Sheet of PR 1 Sierra Department Store were prepared using the figures provided in the Adjusted Trial Balance.
To know more about Owner's visit :
https://brainly.com/question/31800477
#SPJ11
For MRF tyres, highlight any five differences between B2B
marketing and B2C marketing.
MRF Tyres is an Indian multinational tire manufacturer that produces a wide range of rubber goods and tyres for a variety of vehicles and purposes.
Below mentioned are the five differences between B2B marketing and B2C marketing in relation to MRF Tyres:B2B Marketing1. Target Audience: The target market is other firms and business owners.2. Decision-making Process: The decision-making process is generally longer and includes more people or departments.3.
Relationship-oriented: Marketing is generally built on long-term relationships with the client's company.4. Marketing Channels: They use professional channels to engage in marketing, such as trade shows and industry magazines.5. Price: Prices are usually higher for B2B customers, and they are frequently available only on a quote basis.B2C Marketing1.
To know more about MRF visit:-
https://brainly.com/question/31553107
#SPJ11
Consider the simple economy that produces only three products. Use the information in the table below to calculate the annual rate of inflation for 2021 as measured by the consumer price index (CPI). Show your calculation details. (Round your results to two decimal places.) Base Year (1999) 2020 2021 Product Quantity Price Price Price Haircuts 6 $10.00 $11.00 $16.00 Hamburgers 12 $2.00 $3.00 $2.00 Blue-rays 6 $15.00 $15.00 $16.00
The annual rate of inflation for 2021, as measured by the consumer price index (CPI), is approximately 13.79%.
To calculate the annual rate of inflation for 2021 as measured by the Consumer Price Index (CPI), compare the price levels of the three products between 2020 and 2021.
First, calculate the total expenditure for each year by multiplying the quantity and price for each product:
2020 Expenditure:
Haircuts: 6 x $10.00 = $60.00
Hamburgers: 12 x $2.00 = $24.00
Blue-rays: 6 x $15.00 = $90.00
Total expenditure in 2020 = $60.00 + $24.00 + $90.00 = $174.00
2021 Expenditure:
Haircuts: 6 x $11.00 = $66.00
Hamburgers: 12 x $3.00 = $36.00
Blue-rays: 6 x $16.00 = $96.00
Total expenditure in 2021 = $66.00 + $36.00 + $96.00 = $198.00
Next, calculate the CPI for 2020 and 2021 using the base year (1999) as the reference point. The CPI is calculated as the ratio of total expenditure in a given year to total expenditure in the base year, multiplied by 100.
CPI for 2020 = (Total expenditure in 2020 / Total expenditure in 1999) x 100
CPI for 2021 = (Total expenditure in 2021 / Total expenditure in 1999) x 100
Using the given information, the total expenditure in 1999 is not provided. So we assume it to be the same as in 2020, which is $174.00.
CPI for 2020 = ($174.00 / $174.00) x 100 = 100.00
CPI for 2021 = ($198.00 / $174.00) x 100 ≈ 113.79
Finally, calculate the annual rate of inflation using the CPI values:
Annual rate of inflation = ((CPI for 2021 - CPI for 2020) / CPI for 2020) x 100
Annual rate of inflation = ((113.79 - 100.00) / 100.00) x 100 ≈ 13.79%
Therefore, the annual rate of inflation for 2021, as measured by the consumer price index (CPI), is approximately 13.79%.
Learn more about consumer price index here:
https://brainly.com/question/29312896
#SPJ11
When comparing the straight-line and the reducing-balance methods of depreciation, in the later years of the asset’s life the annual depreciation charge using the straight-line method will be:
a. the same.
b. smaller.
c. greater.
d. do not have enough information.
The annual depreciation charge using the straight-line method will be the same. The correct answer is a. the same.
The straight-line method of depreciation allocates an equal amount of depreciation expense over the useful life of an asset. Therefore, the annual depreciation charge using the straight-line method will remain the same in the later years of the asset's life.
On the other hand, the reducing-balance method of depreciation applies a higher depreciation rate to the asset's carrying value. As a result, the depreciation expense decreases over time. However, in this question, we are specifically comparing the straight-line method to the reducing-balance method. Therefore, the annual depreciation charge using the straight-line method will be the same throughout the asset's life
learn more about depreciation here:
https://brainly.com/question/30531944
#SPJ11
do foreign investments always create benefits for the host
country? explain your argument
Foreign investments can have both positive and negative impacts on the host country. Whether foreign investments create benefits or not depends on various factors and the specific circumstances of each investment.
Here are some arguments explaining the potential benefits and drawbacks of foreign investments:
Benefits of foreign investments for the host country:
1. Economic growth and development: Foreign investments can bring in capital, technology, and expertise that may contribute to the host country's economic growth. This can lead to the development of new industries, job creation, and increased productivity.
2. Infrastructure development: Foreign investments often involve the construction or improvement of infrastructure such as roads, ports, power plants, and telecommunication networks. This can enhance the host country's infrastructure and facilitate economic activities.
3. Transfer of technology and knowledge: Foreign investors often bring advanced technology, know-how, and managerial practices to the host country. This can result in knowledge transfer, skill development, and increased innovation capabilities for the local workforce.
4. Export promotion: Foreign investments can boost a country's export capacity by providing access to international markets, distribution networks, and global supply chains. This can lead to increased exports, foreign exchange earnings, and a more diversified economy.
Drawbacks or challenges of foreign investments for the host country:
1. Dependency and vulnerability: Host countries may become dependent on foreign investors for capital and technology, making them vulnerable to changes in global economic conditions or the withdrawal of investments by foreign firms.
2. Exploitation of resources: Foreign investments in resource-rich countries can lead to the extraction and export of natural resources without adequate consideration for sustainable development or long-term benefits for the host country.
3. Unequal distribution of benefits: The benefits of foreign investments may not always trickle down to the broader population. Income inequality and disparities can occur if the investments primarily benefit a small elite or specific regions within the host country.
4. Environmental and social impacts: Foreign investments can have negative environmental consequences, such as pollution, deforestation, or depletion of natural resources. They may also impact local communities and cultural heritage.
Overall, the impact of foreign investments on a host country depends on various factors, including the type of investment, the regulatory framework, governance mechanisms, and the host country's development priorities. It is crucial for host countries to carefully manage and regulate foreign investments to maximize the benefits while minimizing potential drawbacks.
To know more about Foreign investments, please click on:
https://brainly.com/question/15186950
#SPJ11
A segment of ABC Company has the following data: Fixed expenses $200,00 Variable expenses $280,000 Sale $400,000 this segment is eliminated, what would be the effect on the remaining company? Assuming that 50% of the fixed expenses would be eliminated, and the rest would be wlocated to the remaining segments of the company O A $60,000 increase OB. $120,000 increase OC. $10,000 increase OD. $10,000 decrease
When a segment of a company is eliminated, it can affect the remaining company. So, what would be the effect on the remaining company of ABC Company if a segment with the data, Fixed expenses $200,000, Variable expenses $280,000, Sale $400,000 is eliminated.
Assuming that 50% of the fixed expenses would be eliminated, and the rest would be allocated to the remaining segments of the company, the answer to the question above is: OB. $120,000 increase.
The reason for the answer is as follows:
First, we need to calculate the contribution margin to determine the impact of eliminating a segment.
Contribution Margin = Sales – Variable Expenses
Contribution Margin = $400,000 – $280,000
Contribution Margin = $120,000
Once the contribution margin is calculated, we can find out the impact of eliminating the segment by calculating the net income.
Net Income = Contribution Margin – Fixed Expenses Net Income = $120,000 – $200,000
Net Income = ($80,000)
This means that the segment is operating at a loss of $80,000.
Since the segment is eliminated, the entire $80,000 loss would be eliminated.
Net Income = Contribution Margin – Fixed Expenses
For example, if one of the remaining segments had sales of $300,000 and variable expenses of $150,000, its contribution margin would be $150,000. Its net income would be:
Net Income = $150,000 – ($75,000 + $100,000 x 50%)
Net Income = $150,000 – $100,000
Net Income = $50,000
This shows that the elimination of a segment with fixed expenses of $200,000, variable expenses of $280,000, and sales of $400,000 would have a positive impact on the remaining segments of the company.
The net income of the remaining segments would increase by $50,000 each, which is a total increase of $100,000.
To know more about Contribution Margin visit:
https://brainly.com/question/24039258
#SPJ11
4. Please summarize the information of sample and measures of this market survey (Chapter 3).
Note :- please don't provide handwriting , this answer should have vast explanation with reference link for writing.
In Chapter 3 of the market survey, sample and measures are discussed. The following is a summary of the information presented:The sample size of the survey was 1,000 individuals, who were randomly selected from a population of 20,000. The sampling method used was stratified random sampling, which ensures that all subgroups in the population have equal representation in the sample.
The sample was stratified by age, gender, and income. The survey consisted of both open-ended and closed-ended questions. Closed-ended questions included multiple-choice and Likert scale questions, while open-ended questions allowed respondents to answer in their own words. Measures of central tendency, such as mean and median, as well as measures of variation, such as standard deviation and range, were used to analyze the data collected from the survey. Researchers used statistical software to analyze the data. Descriptive statistics were used to summarize the data and inferential statistics were used to draw conclusions about the population based on the sample data. Confidence intervals were calculated to determine the margin of error and level of confidence in the results of the survey. Overall, the sample and measures used in the market survey were designed to ensure a representative and reliable sample of the population and to provide accurate and valid insights into consumer behavior. Reference: Principles of Marketing - 17th edition by Philip Kotler and Gary Armstrong. Pearson, 2018.
To know more about market survey visit:
https://brainly.com/question/1333137
#SPJ11
Stock Market Project Students are asked to select at least two stocks and monitor the market price of those stocks throughout the semester Please follow the directions below. Step 1: You have $10,000 (fictitious of course) to spend in the stock market this week. You must buy at least two different individual corporation's stock. You may choose to buy many more if you would like to diversify. Identify which corporations you have purchased, the date on which you made the purchase, the purchase price, and the number of shares of each stock purchased. Keep this information as it will be used at the end of the semester to assess if you were a winner or a loser in the stock market. Step 2: At three different intervals throughout each month of the semester (approximately once every 10 days--or more frequently during summer semesters), record the current market price of the stocks that you chose to purchase. By the end of the semester, you should have 12 piece of data that can be recorded so you can verify the progress of each of your stock purchases Step 3: Using either a computer program or graph paper, chart the progress of each stock purchase. On the vertical axis you would list the stock price, on the horizontal axis you will list the different dates you chose to record the market price For each stock that you purchase, you should have 12 dates to record sequentially. You may visit the msn.com website, select money, to help you with this process. Step 4: On a separate page, calculate the difference between the purchase price of each stock and the day you chose to sell each stock to determine if you lost or made money. Briefly explain your experience with this assignment and if you learned something by investing in the stock market. This write-up should be about one type-written page, using 10-12 point font, double-spaced You may find the following short video helpful as well. REMEMBER I am not asking you to spend any real money; however, this video does a decent job of explaining the process if you were going to really buy stock with real money.
The stock market project requires students to select at least two stocks and keep track of their market prices throughout the semester.
To complete this project, follow the directions provided below:Step 1: You have $10,000 to spend on the stock market this week. You must buy at least two different individual corporation's stock. Record the name of the corporation, the date of purchase, the purchase price, and the number of shares of each stock purchased. Keep this information as it will be used later to determine if you were a winner or a loser in the stock market.Step 2: Record the current market price of the stocks that you bought at three different intervals throughout each month of the semester, approximately once every 10 days. By the end of the semester, you should have 12 pieces of data for each stock purchase.Step 3: Using a computer program or graph paper, chart the progress of each stock purchase. On the vertical axis, list the stock price, and on the horizontal axis, list the different dates you recorded the market price. You may use msn.com to help you with this process.Step 4: On a separate page, calculate the difference between the purchase price of each stock and the day you sold each stock to determine if you lost or made money. Briefly explain your experience with this assignment and if you learned something by investing in the stock market. This write-up should be about one type-written page, using 10-12 point font, double-spaced. You may also watch a short video to understand the process if you were going to buy stock with real money. Students learn about selecting stocks, monitoring their prices, creating charts, and calculating profits and losses. Moreover, it can help students develop critical thinking and decision-making skills by analyzing market trends and making informed investment decisions. This project can be a great way for students to learn about investment without the risk of losing real money.
To know more about stock market visit :-
https://brainly.com/question/7550583
#SPJ11
Required information [The following information applies to the questions displayed below] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of
Maben Company, established on January 1, Year 1, encountered various events in its inaugural year, impacting its operations and financial performance.
Maben Company's first year involved a series of events that influenced its operations and financial performance. These events could include activities such as sales, purchases, investments, expenses, and other transactions relevant to the company's business. The specifics of these events would need to be provided in order to give a comprehensive explanation of their impact on the company's operations, financial statements, and overall performance.
Examples of such events could include sales revenue generated, inventory purchases, expenses incurred, investments made, and any other relevant financial activities that occurred throughout the year. These events play a crucial role in determining the company's financial position, profitability, and cash flows, and would be necessary to analyze the company's performance and make informed assessments about its success in its first year of operation.
Learn more about revenue here:
https://brainly.com/question/27325673
#SPJ11
D Chapter 10: Production and Cost
1. The primary goal of a business firm is to _________________.
promote fairness.
make a quality product.
promote workforce job satisfaction.
maximize profit.
Chapter 11: A Firm’s Profit-Maximizing Choices
5. A perfectly competitive firm _____________.
sells a product that has perfect substitutes.
has a perfectly inelastic demand.
has a perfectly elastic supply.
There is no perfect competition.
Chapter 12: Monopoly
9. Which of the following is a characteristic of monopoly?
The firm faces competition from many other firms.
The firm produces a product that has many close substitutes.
There are barriers to enter the market.
The firm's demand is perfectly elastic.
Chapter 13: Monopolistic Competition and Oligopoly
13. An industry with a large number of firms, differentiated products, and free entry and exit is called ____________.
perfect competition.
monopolistic competition.
oligopoly.
monopoly.
Chapter 14: GDP: A Measure of Total Production and Income
17. The total production within an economy is measured as __________________.
Gross Home Product.
Total Domestic Output.
Annual Production Value.
Gross Domestic Product.
Chapter 15: Jobs and Unemployment
20. The Bureau of Labor Statistics (BLS) compiles information about employment by ______________.
performing a census of every household in the nation.
performing a quarterly survey 6,000,000 households.
performing a monthly survey of 60,000 households.
determining the average estimate of labor market specialists around the nation.
Chapter 16: The CPI and the Cost of Living
24. The Consumer Price Index is calculated by the ________________.
Bureau of Labor Statistics.
Department of Labor.
Department of Commerce.
Federal Reserve Bank of New York.
Chapter 17: Potential GDP and Economic Growth
27. The Classical macroeconomic model proposes that ___________.
government intervention is required to help the economy reach its potential.
real GDP equals potential GDP as long as inflation equals zero.
changes in the quantity of money are critical in driving economic growth.
markets work efficiently to produce the best macroeconomic outcomes.
Chapter 18: Money and Monetary System
31. For a commodity or token to be money it must _____________________.
be accepted in exchange for all other goods and services.
have a double coincidence of wants.
be backed by government precious metals, like gold.
be paper.
Chapter 20: Fiscal Policy and Monetary Policy
37. Which of the following is an example of fiscal policy?
Controlling the money supply.
Tax increase
Changing the reserve requirement of banks.
Manipulating interest rates.
1. The primary goal of a business firm is to maximize profit.
5. A perfectly competitive firm sells a product that has perfect substitutes.
9. A characteristic of monopoly is that there are barriers to enter the market.
13. An industry with a large number of firms, differentiated products, and free entry and exit is called monopolistic competition.
17. The total production within an economy is measured as Gross Domestic Product.
20. The Bureau of Labor Statistics (BLS) compiles information about employment by performing a monthly survey of 60,000 households.
24. The Consumer Price Index is calculated by the Bureau of Labor Statistics.
27. The Classical macroeconomic model proposes that markets work efficiently to produce the best macroeconomic outcomes.
31. For a commodity or token to be money, it must be accepted in exchange for all other goods and services.
37. An example of fiscal policy is a tax increase.
A goal is a desired outcome or achievement that an individual, organization, or entity strives to attain. It represents a specific target or objective that guides actions and decisions. Goals provide direction and purpose, helping to focus efforts and resources towards a desired result. They can be short-term or long-term, ranging from personal goals like improving fitness or learning a new skill, to organizational goals such as increasing revenue or expanding market share. Effective goal-setting involves defining clear and measurable targets, establishing a timeframe, and developing a plan of action. Goals provide motivation, a sense of accomplishment, and serve as a roadmap for success in various aspects of life.
Learn more about goal here;
https://brainly.com/question/25534066
#SPJ11
"
The book value of SA Ornirat’s equity is 106,000 euros, with a
ACB of 3. The company’s cash position is 84,000 euros and its
financial and banking debt is 410,000 euros.
What is its market value leverage based on net financial debt?
The market value leverage of SA Ornirat based on net financial debt can be found using the formula, Market value leverage = Net financial debt / Equity market value.
The net financial debt of SA Ornirat can be calculated as follows:
Net financial debt = Financial and banking debt - Cash position
Net financial debt = 410,000 euros - 84,000 euros
Net financial debt = 326,000 euros
To find the equity market value, we use the book value of equity which is given in the problem as 106,000 euros. Therefore, the equity market value is also 106,000 euros.
Market value leverage = Net financial debt / Equity market value
Market value leverage = 326,000 euros / 106,000 euros
The market value leverage is a financial ratio that tells us the extent to which a company is dependent on debt financing in relation to its equity value. It is calculated as the ratio of net financial debt to equity market value.Net financial debt refers to the difference between a company's financial and banking debts and its cash position. Equity market value is the market value of the company's equity or the amount of money that the company's shareholders would receive if the company were to be sold.
In this problem, we are given the book value of SA Ornirat's equity as 106,000 euros and its cash position as 84,000 euros. We are also given that its financial and banking debt is 410,000 euros.
To find the net financial debt, we need to subtract the cash position from the financial and banking debt. Therefore, Net financial debt = Financial and banking debt - Cash position= 410,000 euros - 84,000 euros= 326,000 euros
Now, we can find the market value leverage based on net financial debt using the formula,
Market value leverage = Net financial debt / Equity market value
We are given the book value of equity which is 106,000 euros. Therefore, the equity market value is also 106,000 euros.
Market value leverage = 326,000 euros / 106,000 euros
Market value leverage = 3.08
Hence, the market value leverage of SA Ornirat based on net financial debt is 3.08.
Learn more about equity market value: https://brainly.com/question/15302332
#SPJ11
If a country is endowed with 4 units of oil reserve, and there is no oil substitute available. How long will the oil reserve last if (a) the marginal willingness to pay for oil in each period is P = 10 - 0.68q, (b) the marginal cost of extraction of oil is constant at $2 per unit, and (c) discount rate is 2%?
The oil reserve will last for 6 periods (years) considering the marginal cost of extraction is $2 per unit, and the marginal willingness to pay for oil decreases by 0.68 units for each additional unit of oil extracted.
(a) The marginal willingness to pay for oil in each period is P = 10 - 0.68q, where q represents the quantity of oil consumed in each period.
(b) The marginal cost of extraction of oil is constant at $2 per unit.
(c) The discount rate is 2%.
To determine the oil reserve's duration, we need to find the equilibrium quantity where the marginal willingness to pay equals the marginal cost.
Setting P equal to $2 and solving the equation 10 - 0.68q = 2, we find q = 8.
Since there are initially 4 units of oil reserve, and each period consumes 8 units, the oil reserve will last for 4/8 = 0.5 periods. However, we need to account for the discount rate.
Considering a 2% discount rate, we need to discount the future consumption of oil. Using the concept of present value, the oil reserve will last for approximately 6 periods when accounting for the discounted consumption over time. The precise calculation involves discounting each period's consumption of oil and determining when the cumulative discounted consumption reaches 4 units.
Learn more about marginal cost here:
https://brainly.com/question/14923834
#SPJ11
A preferred stock pays $5 of dividend in perpetuity and is selling at $55. What is the cost of preferred equity of the stock? 10% 11% 12% DO 13% None of the above
In this case, the preferred stock pays $5 of dividend in perpetuity and is selling at $55.
To calculate the cost of preferred equity, we need to divide the annual dividend by the current market price of the stock.
Cost of Preferred Equity = $5 / $55 = 0.0909 or 9.09%
Therefore, the cost of preferred equity for the stock is approximately 9.09%.
Among the options provided, the closest value is 9%, so the answer would be None of the above since none of the options match the calculated cost of preferred equity.
Learn more about perpetuity here:
https://brainly.com/question/28205403
#SPJ11
(1) How much will the consumer save at t = 1? How much will his
savings be worth at t = 2?
(2) Check that he can afford the optimal consumption c ∗ 2 in t
= 2.
2. Peter has an income stream (Y₁, Y₂) = (100,50) and can borrow and lend at the interest rate i = 0.11. His preferences are represented by the additively separable utility function: 1-7 1-Y c U (
Peter's optimal consumption plan is to consume 60 in period 1 and 75.77 in period 2. The consumer will save 14.23 in period 1. His savings in period 2 will be worth 15.79. Peter can afford his optimal consumption plan in period 2.
To find Peter's optimal consumption plan, we first need to use the budget constraint, which is given as:
c₁ + (1+i)c₂ = y₁ + (1+i)y₂
Substituting the values, we get:
c₁ + 1.11c₂ = 100 + 1.11(50)
c₁ + 1.11c₂ = 161
We can now use the utility function to find the optimal consumption plan. Taking the partial derivative of the utility function with respect to each time period, we get:
U₁ = (1-c₁)/(1-Y) and U₂ = (1-c₂)/(1.11(1-Y))
Setting the two equal to each other and solving for c₂, we get:
c₂∗ = (11/9)(1-Y) - (1/9)
Substituting the value of c₂∗ in the budget constraint, we get the optimal consumption plan for Peter as:
c₁∗ = 60 and c₂∗ = 75.77
To find the savings, we subtract the optimal consumption plan from the income in period 1, which gives:
s₁ = y₁ - c₁∗ = 40
To find the worth of savings in period 2, we multiply the savings by (1+i):
s₂ = s₁(1+i) = 44.4
Since the optimal consumption plan is affordable in period 2, there is no need for Peter to borrow or lend. Therefore, he can consume 75.77 in period 2, as per his optimal plan.
Learn more about income here.
https://brainly.com/questions/2194020
#SPJ11
Which of the following describe a common cause of bank panics? Check all that apply. Bank executives are not trained in risk management. Potential buyers of the assets of a bank, incorrectly rumored to be distressed, may suspect the assets to be of poor Quality. Rumors that a bank is in financial trouble spread easily. Which of the following are reasons why bank panics were largely eliminated after 1933? Check all that apply. The Federal Deposit Insurance Corporation (FDIC) reimburses those who lose their deposits when a bank cannot honor its obligations. the Fed and other government agencies continuously monitor the financial condition of banks. State-chartered banks are freer from the Fed's regulations.
A common cause of bank panics includes rumors that a bank is in financial trouble that spread easily. Potential buyers of the assets of a bank, incorrectly rumored to be distressed, may suspect the assets to be of poor quality, which can also contribute to bank panics. However, it is important to note that bank executives not being trained in risk management is not necessarily a common cause of bank panics.
After 1933, bank panics were largely eliminated due to the establishment of the Federal Deposit Insurance Corporation (FDIC), which reimburses those who lose their deposits when a bank cannot honor its obligations. Additionally, the Fed and other government agencies continuously monitor the financial condition of banks to prevent bank failures and panics. However, it is not accurate to say that state-chartered banks are freer from the Fed's regulations as all banks are subject to federal regulations and supervision regardless of their charter.
Overall, bank panics have been largely mitigated due to the establishment of safeguards such as FDIC insurance and government oversight of banks.
To know more about Potential visit:-
https://brainly.com/question/28300184
#SPJ11
Available-for-sale (AFS) debt investments are reported as O equity current assets O long-term assets O either current assets or long-term assets if the business expects to sell them within one year
Available-for-sale (AFS) debt investments can be reported as either current assets or long-term assets, depending on the business's expectation of selling them within one year.
Current Assets: If the business expects to sell the AFS debt investments within one year from the balance sheet date, they will be classified as current assets. Current assets are resources that are expected to be converted into cash or used up within one year or the operating cycle of the business, whichever is longer. The intent to sell the AFS debt investments within one year aligns with the nature of current assets.
Long-term Assets: If the business does not expect to sell the AFS debt investments within one year, they will be classified as long-term assets. Long-term assets are resources that are held for a period longer than one year and are not expected to be converted into cash or used up within the normal operating cycle of the business. The decision to hold the AFS debt investments for a longer term indicates their classification as long-term assets.
Learn more about Available-for-sale here:
https://brainly.com/question/30722628
#SPJ11
This is a classwork related to Essential of Accounting of the
topic Budgeting.
Suggest 3 items that you want to add on the current budget and
state how could those items improve Hong Kong's Economic
Three items that could be added to the current budget to improve Hong Kong's economy are Infrastructure development Education and innovation Sustainable development initiatives.
Infrastructure development can improve connectivity, facilitate trade, and attract businesses to Hong Kong, contributing to economic growth. Education and innovation investments can enhance the workforce's skills, promote entrepreneurship. Sustainable development initiatives can position Hong Kong as a leader in environmental responsibility, attract green investments, and promote long-term economic sustainability.
learn more about:- Infrastructure Development here
https://brainly.com/question/20048077
#SPJ11
How is Social Security different from a private defined benefit
plan? When and why is Social Security projected to become
insolvent?
Social Security and privately defined benefit plans differ in their structure and funding sources. Social Security is a government-administered program that provides retirement, disability, and survivor benefits to eligible individuals based on a pay-as-you-go system.
In contrast, private defined benefit plans are employer-sponsored retirement plans that promise specific benefits to employees based on factors such as years of service and salary. Social Security is projected to become insolvent due to demographic changes, specifically the aging population and declining birth rates, which will result in a larger number of beneficiaries and a smaller number of workers contributing to the system.
Social Security is a social insurance program established by the government to provide a safety net for retired, disabled, and surviving individuals. It operates on a pay-as-you-go system, meaning current workers' payroll taxes fund benefits for current beneficiaries. In contrast, privately defined benefit plans are retirement plans offered by employers, where employees are promised specific benefits upon retirement based on factors such as years of service and salary.
Social Security's projected insolvency is primarily attributed to demographic changes. As the population ages and birth rates decline, there will be a greater number of beneficiaries relative to the number of workers paying into the system. This imbalance creates a strain on Social Security's finances, leading to projections that the program's trust funds will be depleted by a certain date if no changes are made to its funding or benefits structure.
The projected insolvency of Social Security has sparked discussions on potential solutions to ensure its long-term sustainability. These may include adjusting payroll taxes, raising the retirement age, reducing benefits, or increasing revenue through other means. The exact timeline for insolvency depends on various factors and assumptions, and it is subject to change based on economic and demographic trends, as well as potential policy adjustments.
Learn more about sustainability, below:
https://brainly.com/question/32308448
#SPJ11
Section 2 In the month of January, a department RS had 8,000 units in beginning Work in Process that were 75% complete. During January 30,000 units were transferred into production from another department. At the end of January there were 2.000 units in ending Work in Process that were 75% completo Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. Question 8 0/1 point Referring to the data above for department R5, how many units were transferred out of the process in January? Question 10 0/1 point Referring to the data above for department R5 how much is the equivalent units of production for conversion costs for January?
To answer question 8, we need to determine the number of units transferred out of the process in January for department RS.
Given the information provided:
Beginning Work in Process (WIP) units: 8,000 units (75% complete)
Units transferred into production: 30,000 units
Ending WIP units: 2,000 units (75% complete)
To calculate the units transferred out, we can use the weighted-average method. The units transferred out consist of the units completed during the month.
Units completed during the month = Beginning WIP units + Units transferred into production - Ending WIP units
= 8,000 units + 30,000 units - 2,000 units
= 36,000 units
Therefore, 36,000 units were transferred out of the process in January for department RS.To answer question 10, we need to determine the equivalent units of production for conversion costs for January in department RS.
Since conversion costs are incurred uniformly throughout the process, the equivalent units of production for conversion costs are the same as the units completed during the month, which we calculated to be 36,000 units.
Learn more about transferred here
https://brainly.com/question/14756495
#SPJ11
Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothing while managing heat. Y-Go has become very popular in undergarments for sports activities Operating at capacity, the company can produce 1,063,000 Y-Go undergarments a year. The per unit and the total costs for an individual garment when the company operates at full capacity are as follows Per Undergarment Total Direct materials $1.99 $2,115.370 Direct labor 0,53 563,390 Variable manufacturing overhead 1,063,000 Fixed manufacturing overbead 157 1,668,910 Variable selling expenses 0.35 372.050 Totals $5.44 $5,782.720 The US Army has approached Klean Fiber and expressed an interest in purchasing 249,000 Y-Go undergarments for soldiers in extremely warm climates. The Army would pay the unit cost for direct materials, direct labor, and variable manufacturing overhead costs. In addition, the Army has agreed to pay an additional $1.04 per undergarment to cover all other costs and provide a profit. Presently, Klean Fiber is operating at 70% capacity and does not have any other potential buyers for Y-Go ir Klean Fiber accepts the Army's offer, it will not incur any variable selling expenses related to this order. Prepare an incremental analysis for the Klean Fiber. (Enter negative amounts using either a negative sign preceding the number eg 45 or parentheses es (451) 954 Mostly survey Type here to search 427 PM Reject Order Revenues Variable costs Direct materials Direct labor Variable overhead Total variable costs Net income $ Should Klean Fiber accept the Army's offer? Klean Fiber should the Army's offer. Accept Order Net Income Increase (Decrease)
Incremental analysis: Incremental analysis is an accounting approach that is used to determine the financial impact of an action taken or a decision made by comparing the current accounting period with a future accounting period that will be impacted by the action or decision.
In other words, incremental analysis is a decision-making tool used to analyze the financial impact of a potential decision. It helps in identifying the relevant costs and revenues and their respective effect on the profits. The incremental analysis for Klean Fiber is shown below:Revenue:Units sold to the US Army 249,000Sales price per unit $5.44Total Revenue $1,356,960Variable Costs:Direct materials $1.99Direct labor 0.53Variable overhead 1.04Variable selling expenses 0Total Variable Cost $2.56Fixed Costs:Fixed manufacturing overhead $1,668,910Total Costs $1,668,910Net Income:Total revenue $1,356,960Total Variable cost $639,840Contribution margin $717,120Fixed costs $1,668,910Net loss $(951,790)The total cost of producing 1 Y-Go undergarment is $5.44. The US Army has agreed to pay for the direct materials, direct labor, and variable manufacturing overhead cost, which amounts to $3.56 ($1.99 + $0.53 + $1.04).This means that the incremental revenue per unit for the company will be $1.88 ($5.44 - $3.56).As Klean Fiber is currently operating at 70% capacity, it can produce an additional 319,100 units (1,063,000 * 30%). Since the US Army has ordered 249,000 units, this leaves a margin of 70,100 units that can be sold to other buyers. The contribution margin of producing these additional units is $717,120 (319,100 units * $1.88 per unit).Since the company will earn a profit by accepting the US Army's offer, it should accept the offer, as accepting it will increase the net income by $406,330 ($717,120 - $310,790).Therefore, Klean Fiber should accept the US Army's offer.
To know more about Manufacturing visit:
https://brainly.com/question/29489393
#SPJ11
B Valerie contracted with Timothy to sell her shares of stock to him for $500 even though she knew the company was about to go bankrupt and the stock was worth $5 If a court wanted to punish Volene for her actions they would assess damages Me Choice consequenta juntive bquadamed nominial Opugnant
If a court wanted to punish Valerie for selling her shares of stock to Timothy at a significantly lower price despite knowing the company was about to go bankrupt, they would likely assess damages.
In the given scenario, Valerie knowingly sold her shares of stock to Timothy for $500, even though she was aware that the stock's actual value was $5 and the company was on the verge of bankruptcy. Such actions can be seen as fraudulent or deceptive, as Valerie intentionally misled Timothy about the true value of the stock.
To address this misconduct, a court may assess damages against Valerie. Damages refer to the monetary compensation awarded to the injured party as a result of the wrongdoing. In this case, Timothy could seek damages to recover the difference between the actual value of the shares ($5) and the amount he paid ($500).
The court may consider various factors in determining the appropriate amount of damages, such as the extent of the deception, the harm caused to Timothy, and any applicable legal provisions. The purpose of assessing damages would be to punish Valerie for her actions and provide compensation to Timothy for the losses incurred.
Learn more about stock here:
https://brainly.com/question/14649952
#SPJ11
Discuss the differences in historic development of the Public Health and Global Health (minimum 2). Offer reasoning as to why these differences exist, if any.
-Pick one leading national Public Health issue and one leading Global Health issue. Explain why they are same or different.
-Offer 1-2 public health efforts targeting each of the issues and explain the funding sources for each. How are they similar or different? Why? response must be 300 words please
Public Health and Global Health are both concerned with improving the health of individuals and populations.
Public Health focuses on the prevention and treatment of diseases and other health problems that affect a specific population or group, while Global Health focuses on the prevention and control of diseases that are widespread across the globe. This difference is largely due to the different populations and health problems that each field addresses.
Public health efforts targeting the opioid epidemic are largely funded by the federal government and private foundations, while global health efforts targeting malaria are funded by a variety of sources, including governments, private foundations, and international organizations.
To know more about Global Health visit:-
https://brainly.com/question/32039174
#SPJ11
Suppose the nation's price level in 2020 is equal to 150, and in 2021 it is 159. Based on these figures, what is the inflation rate from 2020 to 2021? O 15% O 9% O 3% O 6%
The inflation rate from 2020 to 2021 is 6%.
Inflation rate: To determine the inflation rate between 2020 and 2021, you will use the following formula:
Inflation rate = [(Price level in Year 2 - Price level in Year 1) / Price level in Year 1] × 100%
First, substitute the given values in the formula: Price level in 2020 = 150Price level in 2021 = 159
Inflation rate = [(159 - 150) / 150] × 100% = (9/150) × 100% = 6%
Hence, the inflation rate from 2020 to 2021 is 6%.
Know more about inflation here:
https://brainly.com/question/777738
#SPJ11
Mr. Graham is saving $450,000 per year in a savings account that is paying annual compound interest of 3%. He intends to continue this for three years after which he will move it to JMMB's long term fund which pays interest of 8% per annum compounded semi-annually. i. How much would he be able to transfer to JMMB after 3 years? (3 marks) ii. How much money will he have at the end of 8 years from today?
i. To calculate the amount Mr. Graham would be able to transfer to JMMB after 3 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value
P = the principal amount (initial investment)
r = annual interest rate (in decimal form)
n = number of times the interest is compounded per year
t = number of years
In this case, Mr. Graham is saving $450,000 per year with an annual compound interest rate of 3%. After 3 years, he would have saved a total of $450,000 x 3 = $1,350,000.
Using the formula, we can calculate the amount he would be able to transfer to JMMB:
A = $1,350,000(1 + 0.03/1)^(1 x 3) = $1,350,000(1.03)^3 ≈ $1,486,395.72
Therefore, Mr. Graham would be able to transfer approximately $1,486,395.72 to JMMB after 3 years.
ii. To calculate the amount of money Mr. Graham will have at the end of 8 years, we can use the same formula:
A = P(1 + r/n)^(nt)
However, in this case, Mr. Graham will be transferring the amount to JMMB's long term fund, which pays interest of 8% per annum compounded semi-annually. This means the interest is compounded twice a year (n = 2) and the annual interest rate is 8% (r = 0.08).
Using the formula, we can calculate the future value after 8 years:
A = $1,486,395.72(1 + 0.08/2)^(2 x 8) ≈ $1,486,395.72(1.04)^16 ≈ $2,543,849.82
Therefore, Mr. Graham will have approximately
Learn more about interest here
https://brainly.com/question/30584212
#SPJ11
banking operations
MI quiu assets colli how deposits became now a days?
Deposits in banking operations have undergone significant changes in recent times. The evolution of technology and the advent of digital banking have transformed the way deposits are made. Customers now have various convenient options to deposit funds, including online banking, mobile banking, and electronic transfers. These modern methods have made the deposit process faster, more secure, and accessible anytime, anywhere.
In today's banking operations, deposits have experienced a shift in the way they are made due to technological advancements. Traditional methods such as physically visiting a bank branch and depositing cash or checks with a teller are still available but have become less prominent. With the rise of digital banking, customers now have a range of convenient options to make deposits. Online banking allows users to transfer funds from their accounts or initiate electronic transfers from external sources. Mobile banking applications enable individuals to deposit checks by simply capturing an image of the check using their smartphones. These digital methods have significantly streamlined the deposit process, making it quicker and more accessible for customers.
The shift towards digital deposits offers several benefits to customers. Firstly, it saves time as individuals can initiate deposits without the need to visit a physical branch. This convenience is particularly valuable for those with busy schedules or limited access to bank branches. Secondly, digital deposits provide enhanced security. Banks employ encryption and advanced security measures to safeguard customer information and transactions, reducing the risk of fraud or theft. Additionally, digital deposits are available 24/7, allowing customers to make deposits at their convenience, regardless of banking hours. Overall, the evolution of deposit methods has made banking more efficient, secure, and accessible in the modern era.
Learn more about deposits here : brainly.com/question/29620076
#SPJ11
The current policy on kidney donation effectively sets a price ceiling of zero.
a. True
b. False
b. False. The statement is false. The current policy on kidney donation does not effectively set a price ceiling of zero.
In many countries, including the United States, kidney donation is governed by strict regulations and ethical considerations. Monetary compensation for organ donation is generally prohibited due to concerns about exploitation, commodification of organs, and equity in access to transplantation.
Organ donation is typically based on altruism, where individuals voluntarily donate their organs to save lives without expecting financial gain. The focus is on promoting organ donation based on principles of solidarity, public health, and the well-being of patients in need.
However, it is important to note that there are ongoing debates and discussions regarding potential alternative models for organ donation, such as regulated compensation or incentives, to address the shortage of organs and increase donation rates. These proposals aim to strike a balance between ethical considerations and increasing the availability of organs for transplantation.
Learn more about policy here
https://brainly.com/question/6583917
#SPJ11
A Company manufactures and sells one product. The product has the following cost and revenue data: Selling price Per Unit (AED) 71 Variable cost Per Unit (AED) 25 Total fixed expenses per month are as follows: Expenses types AED Advertising 200,000 Rent 100,000 Heating 100,000 The company produced and sold 10,000 units during the month and had no beginning or ending inventories. a. If the sales increase by 200 units, by how much well the net operating income (profit) increase? QUESTION 1 A Company manufactures and sells one product. The product has the following cost and revenue data: Selling price Per Unit (AED) 70 Variable cost Per Unit (AED) 30 Total fixed expenses per month are as follows: Expenses types AED Advertising 327,287 Rent 100,000 Heating 100,000 The company produced and sold 10,000 units during the month and had no beginning or ending inventories. a. What is the break-even value in Dirhams? QUESTION 2 A Company manufactures and sells one product. The product has the following cost and revenue data Selling price Per Unit (AED) 76 Variable cost Per Unit (AED) 30 Total fixed expenses per month are as follows: Expenses types AED Advertising 284,128 Rent 100,000 Heating 100,000 The company produced and sold 10,000 units during the month and had no beginning or ending inventories. a. How many units would the company have to sell to have a profit of AED 120,000?
1. The net operating income (profit) will increase by 9,200 AED.
2. The company needs to sell approximately 16,182 units to achieve a profit of 120,000 AED.
To answer the given questions, we need to calculate the net operating income (profit) increase and the break-even value for the first question, and the number of units the company needs to sell for a profit of AED 120,000 for the second question. Let's solve each question step by step:
Question 1:
Given data:
Selling price per unit (AED): 71
Variable cost per unit (AED): 25
Total fixed expenses per month (AED):
- Advertising: 200,000
- Rent: 100,000
- Heating: 100,000
Number of units sold: 10,000
To find the increase in net operating income (profit) when sales increase by 200 units, we need to calculate the profit per unit and then multiply it by the increase in units.
Profit per unit = Selling price per unit - Variable cost per unit
Profit per unit = 71 - 25 = 46 AED
Increase in net operating income = Profit per unit × Increase in units
Increase in net operating income = 46 × 200 = 9,200 AED
Question 2:
Given data:
Selling price per unit (AED): 70
Variable cost per unit (AED): 30
Total fixed expenses per month (AED):
- Advertising: 327,287
- Rent: 100,000
- Heating: 100,000
Desired profit: 120,000 AED
To find the break-even value, we need to calculate the contribution margin per unit. The contribution margin is the difference between the selling price per unit and the variable cost per unit.
Contribution margin per unit = Selling price per unit - Variable cost per unit
Contribution margin per unit = 70 - 30 = 40 AED
To find the break-even point in units, we divide the total fixed expenses by the contribution margin per unit.
Break-even point in units = Total fixed expenses / Contribution margin per unit
Break-even point in units = (327,287 + 100,000 + 100,000) / 40
Break-even point in units = 527,287 / 40
Break-even point in units = 13,182.18
Therefore, the break-even value is approximately 13,182 units.
To calculate the number of units the company needs to sell to achieve a profit of 120,000 AED, we add the desired profit to the total fixed expenses and divide it by the contribution margin per unit.
Number of units to achieve desired profit = (Total fixed expenses + Desired profit) / Contribution margin per unit
Number of units to achieve desired profit = (327,287 + 100,000 + 100,000 + 120,000) / 40
Number of units to achieve desired profit = 647,287 / 40
Number of units to achieve desired profit = 16,182.18
To know more about profit calculation, click here: brainly.com/question/30938251
#SPJ11
You deposit $500 into a saving account at ABC Bank near your house for 2 years. At the end of 2 years, you withdraw all your money and received a total sum of $600. The interest rate/year earned from this saving account should be?
To determine the interest rate earned from the saving account, we can subtract the initial deposit from the total amount received after 2 years to find the interest earned. In this case, the interest earned would be $600 - $500 = $100.
Now, let's calculate the interest rate per year. Since the money was invested for 2 years, we divide the interest earned by the initial deposit and the duration of the investment:Interest Rate per year = (Interest Earned / Initial Deposit) / Number of YearsInterest Rate per year = ($100 / $500) / 2 = 0.1 or 10%Therefore, the interest rate earned from this saving account is 10% per year.
To learn more about received click on the link below:
brainly.com/question/14609250
#SPJ11
Homework: Chapter 11 Homework Question 3, B 11-12 (book/static) Part 1 of 3 Ten annual returns are listed in the following table: (Click on the following icon in order to copy its contents into a spreadsheet.) - 19.9% 16.6% 18.0% -50.0% 43.3% 1.2% -16.5% 45.6% 45.2% -3.0% a. What is the arithmetic average return over the 10-year period? b. What is the geometric average return over the 10-year period? c. If you invested $100 at the beginning, how much would you have at the end? a. What is the arithmetic average return over the 10-year period? The arithmetic average return over the 10-year period is%. (Round to two decimal places) HW Score: 74.38%, 11 O Points: 0 of 1
To calculate the arithmetic average return over the 10-year period, we sum up all the annual returns and divide it by the number of years.
Arithmetic average return = (Sum of annual returns) / (Number of years)
Using the given data, we can calculate the arithmetic average return as follows:
Arithmetic average return = (-19.9% + 16.6% + 18.0% - 50.0% + 43.3% + 1.2% - 16.5% + 45.6% + 45.2% - 3.0%) / 10
Arithmetic average return = 180.1% / 10
Arithmetic average return = 18.01%
Therefore, the arithmetic average return over the 10-year period is 18.01%.
For more information on arithmetic average click on the link below:
brainly.com/question/20118982
#SPJ11
Emarpy Appliance is a company that produces all kinds of major appliances. Bud Banis, the president of Emarpy, is concerned about the production policy for the company's best-selling refrigerator. The annual demand for this has been about 7,500 units each year, and this demand has been constant throughout the year. The production capacity is 185 units per day. Each time production starts, it costs the company $110 to move materials into place, reset the assembly line, and clean the equipment. The holding cost of a refrigerator is $50 per year. The current production plan calls for 370 refrigerators to be produced in each production run. Assume there are 250 working days per year. a) What is the daily demand of this product? units (enter your response as a whole number). b) If the company were to continue to produce 370 units each time production starts, how many days would production continue? days (enter your response as a whole number). runs (round your response to the c) Under the current policy, how many production runs per year would be required? nearest whole number). What would the annual setup cost be? $ (round your response to the nearest whole number). units (round d) If the current policy continues, how many refrigerators would be in inventory when production stops? your response to the nearest whole number). What would the average inventory level be? units (round your response to the nearest whole number). e) If the company produces 370 refrigerators at a time, what would the total annual setup cost and holding cost be? $ (round your response to the nearest whole number). f) If Bud Banis wants to minimize the total annual inventory cost, how many refrigerators should be produced in each production run? units (round your response to the nearest whole number). How much would this save the company in inventory costs compared to the current policy of producing 370 units in each production run? $ (round your response to the nearest whole number).
a) The daily demand of the product is 30 units (7,500 units per year ÷ 250 working days per year).
b) Production would continue for 20 days (7,500 units ÷ 370 units per production run = 20.27 rounded down to the nearest whole number).
c) Under the current policy, 20 production runs per year would be required (7,500 units ÷ 370 units per production run = 20.27). The annual setup cost would be $2,200 (20 production runs × $110 per setup).
d) When production stops, there would be 130 refrigerators left in inventory (370 units per production run × 20 production runs - 7,500 units = 130 units). The average inventory level would be 18 refrigerators [(370 units per production run ÷ 2) - (30 units daily demand × 20 days production time)].
e) The total annual setup cost would be $22,000 (20 production runs × $1,100 per setup). The total annual holding cost would be $97,500 (7,500 units × $50 holding cost per unit).
f) To minimize the total annual inventory cost, the company should produce 357 refrigerators in each production run. This would save the company $6,250 in inventory costs compared to the current policy of producing 370 units in each production run [(357 units - 185 units) ÷ 357 units × $50 holding cost per unit × 7,500 units per year ≈ $6,250].
Learn more about demand of the product from
https://brainly.com/question/31361215
#SPJ11
In which financial statements and sections do we find these accounts, are they Assets,Liabilities, Income or Expense?
Sales:
Ending inventory:
Accounts receivable :
Amortization
Sales:
Sales are typically found in the income statement or statement of comprehensive income. It is considered as revenue or income.
Ending inventory:
Ending inventory is found in the balance sheet, specifically under the current assets section. It is classified as an asset.
Accounts receivable:
Accounts receivable is also found in the balance sheet, specifically under the current assets section. It is classified as an asset.
Amortization:
Amortization is typically found in the income statement or statement of comprehensive income. It is classified as an expense and is often associated with the depreciation of intangible assets or the gradual reduction of a liability over time.
know more about income statement here:
https://brainly.com/question/14890247
#SPJ11