45,000 worth of goods were invoiced by A. Bose of Kolkata to C. Dutta of Chandigarh at
20 per cent profit on invoice price. The invoice price is covered up to 50 per cent by
advance from C. Dutta. Dutta is to get 5 per cent commission on sale and 2.5 per cent del
credere commission.) Eighty per cent of the goods were sold for 7 57,000 but 7 300 proved
Answers
Answer:
This is your correct answer
A. Bose of Kolkata invoiced goods worth ₹45,000 to C. Dutta of Chandigarh, with a profit margin of 20% on the invoice price. The invoice price was covered up to 50% by an advance payment from C. Dutta. C. Dutta will receive a 5% commission on the sale and a 2.5% del credere commission. 80% of the goods were sold for ₹57,000, but ₹300 worth of goods remained unsold.
Determining the worth of goodsBased on the given information, let's break down the details:
Goods Invoiced: ₹45,000
Profit Margin: 20% on the invoice price
Advance Payment: 50% of the invoice price
Commission for C. Dutta: 5% on the sale
Del Credere Commission: 2.5% on the sale
Now, let's calculate the various components:
Profit on Invoice Price:
Profit = 20% of ₹45,000 = ₹9,000
Invoice Price covered by Advance Payment:
Advance Payment = 50% of ₹45,000 = ₹22,500
Total Sale Amount:
Total Sale = ₹57,000
Commission for C. Dutta:
Commission = 5% of ₹57,000 = ₹2,850
Del Credere Commission:
Del Credere Commission = 2.5% of ₹57,000 = ₹1,425
Goods Unsold:
Unsold Goods = ₹300
Now, let's calculate the remaining components:
Cost Price:
Cost Price = Invoice Price - Profit
Cost Price = ₹45,000 - ₹9,000 = ₹36,000
Amount Received by A. Bose:
Amount Received = Invoice Price - Advance Payment
Amount Received = ₹45,000 - ₹22,500 = ₹22,500
Amount Receivable by A. Bose:
Amount Receivable = Total Sale - Commission - Del Credere Commission - Unsold Goods
Amount Receivable = ₹57,000 - ₹2,850 - ₹1,425 - ₹300 = ₹52,425
Therefore, A. Bose of Kolkata invoiced goods worth ₹45,000 to C. Dutta of Chandigarh, with a profit margin of 20% on the invoice price. The invoice price was covered up to 50% by an advance payment from C. Dutta. C. Dutta will receive a 5% commission on the sale and a 2.5% del credere commission. 80% of the goods were sold for ₹57,000, but ₹300 worth of goods remained unsold.
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Related Questions
On January 1, 2019, the balance in Kubera Co.'s Allowance for Bad Debts account was $1,150. During the year, a total of $3,655 of delinquent accounts receivable was written off as bad debts. The unadjusted balance in the Allowance for Bad Debts account at December 31, 2019, was $1,450. Required: a. What was the total amount of bad debts expense recognized during the year
Answers
Answer:
$3,955
Explanation:
Bad debts are debts owned to a business whose likelihood of collection is not guaranteed.
Debit
Particulars Amount
Debtors. $3,655
Balance c/f. $1,450
Total $5,105
Credit
Particulars. amounts
Balance b/f $1,150
Bad debts. $3,955
Total. $5,105
Therefore, the amount of bad debts recognized during the year is $3,955
Risk that affects a large number of assets, each to a greater or lesser degree, is called _________risk.
a. Idiosyncratic risk.
b. Diversifiable risk.
c. Systematic risk.
d. Asset-specific risk.
e. Total risk.
Answers
Answer:
c. Systematic risk.
Explanation:
Risk that affects a large number of assets, each to a greater or lesser degree, is called systematic risk.
This ultimately implies that, a systematic risk is practically impossible to predict, as well as to be avoided completely by business owners or companies. One of the most effective ways to mitigate a systematic risk is through the use of a correct asset allocation technique or through hedging but diversification of risks wouldn't reduce or mitigate a systematic risk.
Some examples of systematic risks includes changes to law, hike in interest rates, tax reforms, natural disasters such as flooding, earthquake, bushfire, bank failures, change of foreign policy etc.
Give examples if operational conflicts that could occur in a cross- cultural context because of different attitudes towards:1) time, 2) individualism. Give a country or region that would be different from the US for each of the two variables.
Answers
The correct answer to this open question is the following.
Give examples of operational conflicts that could occur in a cross-cultural context because of different attitudes towards:1) time, 2) individualism.
Well, let's start with time. In the United States, time is of the utmost importance. There we have the old saying: "Time is money."
In the workplace, everything is based on the smart and efficient use of time. No time must be wasted in the workplace.
Individual effort is important in the American culture, but the team effort, the concept of being a good team player is very important under the following premise: teams can accomplish more than individuals.
What most Americans desire is individual recognition through team effort.
That is why team sports are so good in the United States because they exemplify the way teams function and what they can accomplish. For instance, college and pro football, basketball, and baseball.
The region that has a different approach, is Latin America. This does not mean that is better than the other, just that there are major differences between the two.
The management of time is very different in Latin American countries. It is not as important as the US. People in Latin America approach the concept of time in a more relaxed way. In Latin America, there is a more relaxed approach to time. Nothing is urgent, Things take time. Things are made at a different pace compared to the US.
And regarding individualism, Latin American people tend to prefer to be more individualistic to do things trying to get some recognition, The team concept is not as developed as in the US.
Compute the 2020 tax liability and the marginal and average tax rates for the following taxpayers. Click here to access the 2020 tax rate schedule. If required, round the tax liability to the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler, who files as a single taxpayer, has taxable income of $94,800.
Answers
Answer:
Tax liability:
Chandler is in 85,525 - 163,300 bracket.
Liability is:
= 14,605.50 + (24 % * (94,800 - 85,525))
= 14,605.50 + 2,226
= $16,832
Marginal Tax rate = 24%
Marginal tax rate for 85,525 - 163,300 bracket is 24%.
Average tax rate:
= Tax liability / Taxable income
= 16,832 / 94,800
= 17.76%
Your company, CSUS Inc., is considering a new project whose data are shown below. The required equipment has a 3-year tax life. Under the new law, the equipment used in the project is eligible for 100% bonus depreciation, so the equipment will be fully depreciated at t = 0. The equipment has no salvage value at the end of the project’s life, and the project does not require any additional operating working capital. Revenues and operating costs are expected to be constant over the project's 10-year expected operating life. What is the project's Year 4 cash flow?
Answers
The project's Year 4 cash flow, CF, is just the same as the Year 3 cash flow, CF.
What is the project's Year 4 cash flow?The project's estimated working life is 10 years, during which time income and operating expenses are anticipated to remain stable. We are unable to compute the precise quantities of income and costs because we are not provided with this information. Instead, we'll presump that the project will produce a steady annual cash flow (CF) for the course of its ten-year lifespan. We do not need to account for any depreciation costs for the project because the equipment is depreciated at time zero. The yearly cash flow generated by the endeavor, which we'll assume is CF, will be equal to the cash intake in Year 4 of the project. All operating expenses related to the project in that year, in addition to any taxes that must be paid, will be included in the cash outflow in Year 4. We are unable to compute the particular operational costs or tax rates because we are not given this information. Instead, we'll assume that the project's constant yearly cash flow includes the operational expenses and taxes.
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36. using goal seek, determine the breakeven point (where the cost of keeping the original bond is equal to the cost of paying off and issuing the replacement bond) by changing each of the following individually:
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The break-even point is calculated in accounting by dividing the fixed production costs by the price per unit less the variable production costs.
The production level at which a product's costs and revenues are equal is known as the break-even point. By comparing an asset's market price to its initial cost, one can calculate the break-even point (break-even price) for a transaction or investment. When the two prices are equivalent, the break-even point is reached.
The entire fixed costs of production are divided by the revenue per unit less the variable costs per unit to determine the break-even threshold in corporate accounting. The expenses that remain the same no matter how many units are sold are referred to in this sense as fixed costs. The manufacturing level where a product's total revenues and total expenses are equal is known as the break-even point, or BEP.
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Currency is a medium of exchange for goods and services. Are Edubucks a form of currency?
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Based on the explanation below, EduBucks is not a form of currency but a program or plan.
What is EduBucks?EduBucks is a program or plan that aims to enhance and supplement academic learning by offering financial assistance to teachers who want to perform innovative classroom projects that raise students' knowledge of the importance of water in Southern California.
EduBucks is also the educational credit program offered by InfoComm International to its members.
Therefore, EduBucks is not a form of currency but a program or plan.
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Amber’s starting salary for her new job will be $35,500 a year. How much will she pay to the Social Security system for her first year assuming total FICA withholdings of 7.65%?
Answers
Answer:
I dont know the answer but I want whatever job she has
4). Compare and contrast the typologies of followership defined by Chaleff and Kellerman
Answers
Chaleff's typology, which can be seen in the "The Courageous Follower, which fous on the types of followers while Kellerman's typology, focus on how Followers can bring about change with respoect to their leaders.
What is Kellerman typology of followership?Barbara Kellerman, can be een as one that focus on the typology of followership which can be seen as one that focus on the level of engagement.
She focus on the good followers as actively supporting effective as wwell as good leaders and responding appropriately to bad leaders however Chaleff's typology, which can be seen in the "The Courageous Follower, which fous on the types of followers ..
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Theory Z was developed by
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Alfred Home Construction is considering the purchase of five dumpsters and the transport truck to store and transfer construction debris from building sites. The entire rig is estimated to have an initial cost of $125,000, a life of 8 years, a $5000 salvage value, an operating cost of $40 per day, and an annual maintenance cost of $2000. Alternatively, Alfred can obtain the same services from the city as needed at each construction site for an initial delivery cost of $125 per dumpster per site and a daily charge of $20 per day per dumpster. An estimated 45 construction sites will need debris storage throughout the average year. If the minimum attractive rate of return is 12% per year, how many days per year must the equipment be required to justify its purchase?
Answers
Answer:
If the total number of days per year is 1,419 or less, then the company should obtain the services from the city. But if the total number of days per year is 1,420 or more, then the company should purchase the equipment.
Explanation:
alternative 1:
initial outlay = $125,000
useful life 8 years
depreciation per year = ($125,000 - $5,000) / 8 = $15,000
costs:
$40 per day
maintenance $2,000 per year
total annual costs = $40x + $2,000
alternative 2:
$125 x 45 sites = $5,625
$20x
total annual costs = $5,625 + $20x
how large does x need to be in order for alternative 1 to be better using a 12% discount rate
cash flows
year 0 = ($125,000)
year 1 = $40x + $2,000 - $5,625 - $20x = $20x - $3,625
year 2 = $20x - $3,625
year 3 = $20x - $3,625
year 4 = $20x - $3,625
year 5 = $20x - $3,625
year 6 = $20x - $3,625
year 7 = $20x - $3,625
year 8 = $20x - $3,625 + $5,000 = $20x + $1,375
I used the present value of an annuity formula, to determine the value of cash flow:
the PV annuity factor for 12% and 7 periods is 4.5638, so:
24,756.20 x 4.5638 = $112,982
$29,756.20 / (1.12⁸) = $12,018
total = $125,000
$20x - $3,625 = 24,756.20
$20x = $28,381.20
x = $28,381.20 / $20 = 1,419.06 days (including all 45 sites)
That means that if the total number of days per year is 1,419 or less, then the company should obtain the services from the city. But if the total number of days per year is 1,420 or more, then the company should purchase the equipment.
Problem 8, MacroSoft Inc. has capitalized $600,000 of software costs. Sales from this product were $360,000 in the first year. MacroSoft estimates additional revenues of $840,000 over the product’s economic life of 5 years.
Instructions
Prepare the journal entry to record software cost amortization for the first year. Show all computations.
Answers
Journal Entry:
Date: [First year-end date]
The amortization expense for the first year is $120,000.
Debit: Amortization Expense - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Credit: Accumulated Amortization - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Explanation:To record the software cost amortization for the first year, we need to allocate a portion of the capitalized software costs as an expense. Since the software has an estimated economic life of 5 years, we divide the total software cost ($600,000) by 5 to determine the annual amortization expense. In this case, the amortization expense for the first year is $120,000. We debit the Amortization Expense - Software Cost account to recognize the expense and credit the Accumulated Amortization - Software Cost account to accumulate the amortization over time.For more such questions on Journal Entry
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what is the first sentance of an introduction called
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Assigning common fixed costs to segments impacts ______. Multiple choice question. neither segment margin nor total corporate profit segment margin only total corporate profit only both segment margin and total corporate profit
Answers
Both the segment margin and total corporate profit are affected by the assigning of common fixed costs to segments.
What is a Common Fixed cost?A common fixed cost refers to a fixed cost which supports the firm activities of the different business segments.
Usually, it is very hard to separate the common fixed cost from each segment or unit.
Hence, the segment margin and total corporate profit are affected by the assigning of common fixed costs to segments.
Therefore, the Option D is correct.
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"Easton Company uses 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 130 $11 5/5 Purchase 280 $13 5/15 Purchase 140 $15 5/25 Purchase 160 $17 Sales were 430 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.”
Answers
Answer:
$4,520
Explanation:
The computation of the dollar value of the ending inventory using the FIFO method is as follows:
But before that the ending inventory is
= Beginning inventory + purchased units + purchased units + purchased units - sales units
= 130 units + 280 units + 140 units + 160 units - 430 units
= 280 units
Now the ending inventory is
= 160 units × $17 + (280 units - 160 units) × $15
= $2,720 + $1,800
= $4,520
'when people in the united states call a helpline or make an airline reservation, they may be to someone in mumbay(bombay), india who has been trained to speak english with an american accent." This statement refers to the important aspects of globalisation. Can you discuss the reasons why operations managers would consider such an aspect
Answers
The reasons why operations managers would consider globalization is that globalization gives businesses the chance to access new consumers in new markets, which drastically changes how successful manufacturers can conduct their business as well as bring about a boast in sells and thereafter more profit.
What is the impact of globalization on operations?As a result of globalization, businesses are now able to use operational strategies to target a wider range of consumers with their goods and services in order to increase profit and market share and, ultimately, reduce the risk of product failure thanks to thorough product and geographic market research.
Therefore, the reason given above is the point that operations managers need to consider in regards to globalization
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what is your analysis on walmart financial health as of january 2021 compare to 2022
Answers
I think the analysis is good compared to the year of 2021
Use the starting balance sheet and the list of changes to create an updated balance sheet.Valley TechnologyBalance SheetAs of December 31, 2017(amounts in thousands)Cash 22,000 Liabilities 36,000Other Assets 28,000 Equity 14,000Total Assets 50,000 Total Liabilities & Equity 50,000Valley TechnologyIncome StatementJanuary 1 to March 31, 2018(amounts in thousands)Revenue 7,200Expenses 3,600Net Income 3,600Between January 1 and March 31, 2018:
1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Paid-In Capital does not change
4. Dividends paid of $400,000
What is the value for Other Assets on March 31, 2018?
Answers
Answer:
$31,300,000
Explanation:
cash account balance = 22,000,000 - 200,000 (cash decrease) = 21,800,000
total liabilities balance = 36,000,000 - 100,000 (decrease in liabilities) = 35,900,000
equity balance = 14,000,000 - 400,000 (dividends) + 3,600,000 (net income) = 17,200,000
total assets = 35,900,000 + 17,200,000 = 53,100,000
other assets = total assets - cash = 53,100,000 - 21,800,000 = 31,300,000
Which factor of production refers to the people who start a business or company?; Which factor of production is the person who owns and runs the business so they can make a profit?; What are the 4 factor of production?
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What are some large-scale economic shifts that have created our present service economy
Answers
The capitalist system in the United States is one of the large-scale economic shifts that have created our present service economy
What is meant by an economic shift?Economic change, which can be characterized as a change in the economy's structure, policies, or growth, is one of the external factors that influence company decision-making.
Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, and the overall demand and supply of the country's goods and services are what lead to these changes. These adjustments cause short-term expansionary and deflationary episodes.
An economic system known as a service economy is one in which the provision of services, as opposed to the production of products, is the primary activity. Road construction, medical treatment, food, lodging, and other professional services are some of these services.
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The contraction phase of a business cycle is a period during which: OA. the economy hits its lowest point. OB. the economy steadily declines. OC. the economy hits its highest point. OD. the economy steadily grows. SUBMIT 27
Answers
The contraction phase of a business cycle is a period during which the economy steadily declines. Option B
What is the contraction phase of a business cycle about?The peak period is followed by the contraction phase. Businesses decline and regulate from the previous high when the business cycle enters its contraction stage. At this point, business owners concentrate on identifying strategies to strengthen their financial position, such as how to cut costs or boost their competitiveness.
Hence, it is characterized by declining industrial output, employment, and Gross Domestic Product (GDP). It might be regarded as a downturn in the economy overall. Economic recession might endure for several years or only last a few months. An economic contraction that lasts longer than six months is called a recession. It is distinguished by a decrease in GDP.
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Tesar Chemicals is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. The CEO believes the IRR is the best selection criterion, while the CFO advocates the NPV. If the decision is made by choosing the project with the higher IRR rather than the one with the higher NPV, how much, if any, value will be forgone, i.e., what's the chosen NPV versus the maximum possible NPV? Note that (1) "true value" is measured by NPV, and (2) under some conditions the choice of IRR vs. NPV will have no effect on the value gained or lost. WACC: 6.75% 0 1 2 3 4 CFS -$1,100 $550 $600 $100 $100 CFL -$2,700 $650 $725 $800 $1,400
Answers
Project L has higher NPV
Value foregone=224.3065039-86.20358424=138.1029197
How to find the IRR of the ProjectIRR of Project S=IRR({-1100;550;600;100;100})=12.2416%
IRR of Project L=IRR({-2700;650;725;800;1400})=10.7118%
Project S has a higher IRR
NPV of Project S=NPV(7.5%,{-1100;550;600;100;100})*(1+7.5%)=86.20358424
NPV of Project L=NPV(7.5%,{-2700;650;725;800;1400})*(1+7.5%)=224.3065039
Project L has higher NPV
Value foregone=224.3065039-86.20358424=138.1029197
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Which of the following is not one of the drivers of supply chain performance? A. facilities B. procedures C. information D. inventory
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B. Procedures is not one of the drivers of supply chain performance.
The four main drivers of supply chain performance are facilities, inventory, information, and transportation. These drivers help to determine how responsive and efficient the supply chain is.
Good facilities or locations ensure that the goods produced are in good condition till they are requested by consumers. The quality of the goods is also preserved. Efficient transportation ensures that goods get to the customers on time. Inventory which involves stock-taking helps salespeople to know what goods are available and readily provide customers with the needed information and stock. Information is also an essential factor. Knowledge of factors affecting pricing, push versus pull, forecasting, etc., helps decision-makers to know what is needed to improve the quality of goods and their delivery.Conclusively, Procedures are not one of the drivers of supply chain performance.
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What is financing?.
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Which function of marketing stimulates sales, encourages customer loyalty, and communicates methods of payment?
Answers
One key function of marketing that stimulates sales, encourages customer loyalty, and communicates methods of payment is promotion.
Promotion is an integral part of the marketing mix and involves various activities aimed at creating awareness, generating interest, and influencing customers' purchasing decisions.
Through promotional strategies such as advertising, sales promotions, public relations, and direct marketing, businesses can effectively communicate the benefits and value of their products or services to the target audience. This creates a sense of urgency and drives sales by enticing customers to make a purchase.
Moreover, promotions can be designed to foster customer loyalty by offering exclusive discounts, rewards, or loyalty programs. These initiatives not only incentivize repeat purchases but also enhance the overall customer experience, fostering long-term relationships with the brand.
Additionally, promotions often include clear messaging about different methods of payment accepted by the business. By communicating convenient and flexible payment options, such as credit cards, online payments, or installment plans, customers feel empowered and informed about how to complete their transactions.
In summary, promotion plays a vital role in stimulating sales, cultivating customer loyalty, and effectively communicating methods of payment, thereby contributing to the overall success of a marketing strategy.
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A job application for McDonald's would not be the same as the application used at Wal-Mart.
True
False
Answers
True a job application for mc donald s would not be the same as the application used at wal mart.
The difference in the Job applicationalthough job applications may share certain similarities such as asking for personal information work experience and references they are typically tailored to the specific requirements of the job and the employer different companies have different hiring practices and may ask different questions on their job applications to assess the qualifications and suitability of the applicants
therefore it is important for job seekers to carefully read and follow the instructions on each job application to ensure they provide the relevant information that the employer is looking for
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Select the correct answer.
Which action can help you become an effective learner?
OA enrolling in a graduate program
O B. limiting your learning to what you need for your career
OC. maintaining a positive attitude toward learning
OD. only exploring topics that interest you
Answers
Answer:
c
Explanation:
maintaining a positive attitude toward learning
Maintaining a positive attitude toward learning action can help you become an effective learner. Thus, option (c) is correct.
What is learning?The process of gaining new understanding, information, actions, abilities, values, perspectives, and preferences is known as learning. Humans, creatures, and some robots all have the potential to learn, and there is evidence that certain plants can learn as well. The process of acquiring new skills, information, knowledge, and values is known as education.
As an individual learns, a good attitude allows you to relax, remember, focus, and absorb information. When setbacks or obstacles occur, they will motivate those closest to them to do their all and help to drive projects forward. The best method to learn is to maintain a good attitude toward learning.
Therefore, option (c) is correct.
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Describe the nature of the following major categories of risk (1) Financial Risks (2) Political Risks (3) Environmental Risks
Answers
Answer:
Market riskinvolves the risk of changing conditions in the specific marketplace in which a company competes for business. One example of market risk is the increasing tendency of consumers to shop online. This aspect of market risk has presented significant challenges to traditional retail businesses.
Explanation:
hope this helps
Answer:
Financial risk generally relates to the odds of losing money.
The financial risk most commonly referred to is the possibility that a company's cash flow will prove inadequate to meet its obligations.
Financial risk can also apply to a government that defaults on its bonds.
Credit risk, liquidity risk, asset-backed risk, foreign investment risk, equity risk, and currency risk are all common forms of financial risk.
Investors can use a number of financial risk ratios to assess a company's prospects.
Market risk, or systematic risk, affects the performance of the entire market simultaneously.
Market risk cannot be eliminated through diversification.
Specific risk, or unsystematic risk, involves the performance of a particular security and can be mitigated through diversification.
Market risk may arise due to changes to interest rates, exchange rates, geopolitical events, or recessions.
Explanation:
Which of the following is not an example of a multichannel retailer?
Answers
Answer:A
thats the one
Explanation:
McDonals is the example of multichannel retailer as the company is providing burgers and fries to its different outlets and in diffrent food ordering sites in many countries.
What is multichannel retailer?The technique of selling similar products over multiple channels and platforms is known as multichannel commerce.
The platforms can be both online and offline, with different channels such as brick and mortar stores, online stores, mobile stores, and mobile app stores.
Thus, McDonals is the example of multichannel retailer.
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your company will need a business plan in order to do what?
A. Increase revenue.
B. Identify an opportunity.
C. Pay taxes.
D. Get funding.
Answers
Answer: D. Get Funding
Explantion: You company will need a business plant in order to get funding because you'd need to present your investors with the future of your business and what it's there to do. I also happened to take the assessment and it was marked correctly.
I hope this helped!
Good luck <3
Your company will need a business plan in order to get funding. Hence, the correct answer is option D.
What is a business plan?A business plan is a formal document that outlines a company's goals, strategies, and projected outcomes. One of the primary reasons for creating a business plan is to secure funding from investors or financial institutions. By presenting a well-written and comprehensive business plan, a company can demonstrate its viability and potential for success, which can increase its chances of obtaining the necessary funding to start or grow the business.
While a business plan can help a company increase revenue and identify opportunities, those outcomes are not the primary purpose of a business plan. Paying taxes is a legal requirement for all companies, but a business plan is not directly related to tax obligations.
Therefore, a company will need a business plan in order to get funding. Hence, the correct answer is option D.
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