A company provided the following data: sales, $510,000; beginning inventory, $41,000; ending inventory, $46,000; and gross profit, $159,000. What was the amount of inventory purchased during the year?

Answers

Answer 1

Answer:

23.000

Explanation:


Related Questions

Please give a complete answer to all questions, citing the legal principle to support your answer.

I. John owns a clothing store. He sees Jack put several items of clothing into his bulky jacket and then walk past all cash registers on his way out the door without paying for the clothes. He has his security people restrain Jack and put him in a locked room while he calls the police. The police arrive in five minutes and place Jack under arrest for shoplifting. Jack sues John civilly for the tort of unlawful imprisonment. Will Jack win or lose this lawsuit?

2. Sarah, Lisa and Adriana are accountants and decide to form the limited liability partnership of SLA Accountants, LLP. They register the partnership with the state. Adriana then conducts an audit of the financial statements of DEF, Inc. and her audit team includes Anna, an audit manager who is under the supervision of Adriana during the course of the audit. Anna makes a major mistake in checking the assets of DEF with the result that the assets listed on the financial statements are overvalued and the liabilities are undervalued. DEF is a publicly traded stock and when the market finds out about this mistake, the value of the shares goes from $50/share to $5/share. The shareholders sue Sarah, Lisa and Adriana for negligence. Sarah and Lisa did not participate in this audit. Adriana states that her personal assets cannot be reached in this lawsuit. Is Adriana right or wrong?

3. Sam is a member of the U.S. Army’s Special Forces. He owns a Ford GT, the most expensive sports car made by Ford. He has received orders to deploy to the Middle East for a secret assignment that he realizes will be highly dangerous. He has a favorite nephew, Andrew, and he brings the car and the key fob over to Andrew’s house before he leaves. He tells Andrew that if he does not come back, the car is his. He does come back but when he comes over to see Andrew and asks for the car back, Andrew refuses, claiming this is a completed inter vivos gift and as such, he does not have to give it back. Is Andrew right or wrong?

Answers

1. In the criminal justice system, John can temporarily put Jack in custody pending the arrival of the police.  Jack was not detained for a period longer than five minutes and not for a civil wrong.

Thus, in this lawsuit for the tort of unlawful imprisonment, Jack will lose because he committed a crime.  He cannot apply a civil law to a criminal case.

2. Adriana is correct that her personal assets cannot be reached in this lawsuit brought by the shareholders of DEF, Inc. because SLA Accountants, LLP is a limited liability partnership and not just an ordinary partnership.

A limited liability partnership, like a limited liability company, offers members limited liability.  However, the shareholders of DEF, Inc. may decide to sue Adriana personally.

3. Andrew is wrong because the car handed over by Sam was not a completed inter-vivos gift. The transfer was not absolute but conditional upon Sam not returning from the Middle East.

As a conditional transfer of gift, the vesting of the ownership interest created by the transfer depends on the fulfillment of a condition.

Thus, since the transfer condition did not materialize, Andrew should return the car to Sam in good faith.

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Helen Bedru is the assistant controller of Cotton Cravat Co., a subsidiary of HG automotive, which manufactures tailpipes, mufflers, and catalytic converters at several plants throughout Ethiopia . Because of pressure for lowerselling prices, Cotton Cravat Co. has had disappointing financial performance in recent years. Indeed, Helen is aware of rumblings from corporate headquarters threatening to close the plant. One of Helen's responsibilities is to present the plant's financial plans for the coming year to the corporate officers and board of directors. In preparing for the presentation, Helen was intrigued to note that the focal point of the budget presentation was a profit-volume graph projecting an increase in profits and a reduction in the break-even point. Curious as to how the improvement would be accomplished, Helen ultimately spoke with Kiruvel Mesfin, the plant manager. Kiruvel indicated that a planned increase in productivity would reduce variable costs and increase the contribution margin ratio. When asked how the productivity increase would be accomplished, Kiruvel made a vague reference to increasing the speed of the assembly line. Helen commented that speeding up the assembly line could lead to labor problems because the speed of the line was set by union contract. Kiruvel responded that he was afraid that if the speedup were opened to negotiation, the union would make a big "stink" that could result in the plant being closed. He indicated that the speedup was the "only way to save the plant, our jobs, and the jobs of all plant employees." Besides, he did not believe employees would notice a 2 or 3 percent increase in speed. Kiruvel concluded the meeting observing, "You need to emphasize the results we will accomplish next year, not the details of how we will accomplish those results. Top management does not want to be bored with details. If we accomplish what we propose in the budget, we will be in for a big bonus."

Required: What advice do you have for Helen Bedru?Support your response with sufficient and sound reasoning​

Answers

Helen Bedru can present the year's budget based on speeding up the assembly line if Kiruvel can further convince her of the possibility of achieving the plant's target. All stakeholders  should be interested in keeping the plant running.

It is the responsibility of Helen to get all the required data for the budget. The budget should be based on verifiable facts and figures without padding. If she is convinced that the plant manager's strategy is implementable, she should work out the budget based on this new strategy.

It makes business sense to allow the plant to lower its variable costs by speeding up the assembly line and eliminating inefficiencies.

Thus, Helen Bedru needs to work with Kiruvel on the details of his strategy to achieve the budget projections.

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Help help help help help

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B..................................              

Bondholders tend to offset the effects of selfish strategies implemented by shareholders by: Multiple Choice increasing the interest rate on monies loaned to the firm. agreeing to reduce the interest rate on existing loans. restructuring their loans to provide additional time to the firm to make repayment. agreeing to reduce the outstanding principal balances on their loans. subordinating their bankruptcy position to the shareholders.

Answers

It should be noted that bondholders offset the effects of selfish strategies that are implemented by shareholders by A. increasing the interest rate on monies loaned to the firm.

A bondholder simply means an individual that's owning a bond that was issued by the government or a public company.

The effects of selfish strategies that are implemented by shareholders are offset by increasing the interest rate on monies loaned to the firm.

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Help bell buissness help bell bel

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Question

Increasing the M3 expansionary monetary policy will do

Which of the following?

Answer

A. it will increase the money supply

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Answer:A It will increase the money supply.

Explanation:

Niccolo is invited to help a program where, even though not mandated by the external environment, management requires teams to make big, up-front, and detailed scope commitments for every release. What three things can Niccolo do to best coach the decision-makers

Answers

The three things Niccolo can do to better train decision makers are Illustrate the power of feedback in content decision making, as well as emphasize the value of “Responding to Agile Manifesto changes.

Another thing Niccolo can do is explain the benefits of releasing at the end of the program increment.

Therefore, through these actions, Niccolo will help to incorporate an organizational attitude focused on compliance, process transparency and adaptation to the rapid environmental changes that impact the progress of a project.

Feedback generates greater decentralization of decision making, empowers and integrates the team, while the concepts of the agile manifesto make decision making more creative, faster and more focused on results.

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Define option price. Explain why the option price of a policy might differ from the expected surplus generated by the policy.

Answers

Explanation:

Options prices, known as premiums, are composed of the sum of its intrinsic and time value. Intrinsic value is the price difference between the current stock price and the strike price. An option's time value or extrinsic value of an option is the amount of premium above its intrinsic value.

Click this link to view O'NETS Wages and Employment section for Licensing Examiners and Inspectors. According
to O'NET What is the projected growth for this career belveen 2019 and 2029
little or no change
average
slower than average
faster than average

Answers

According to O'NETS Wages and Employment section for Licensing Examiners and Inspectors, the projected growth for this career between 2019 and 2029 is D. faster than average.

The career growth rate for Licensing Examiners and Inspectors is projected to  be 10% year-on-year.  This growth rate cannot be described as little or no change, average, or slower than average.

Thus, according to O'NETS Wages and Employment section for Licensing Examiners and Inspectors, the projected career growth between 2019 and 2029 is Option D.

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Bitcoin is a type of
A. biometric authentication
B. blockchain
C. credit card
D. cryptocurrency

Answers

Bitcoin is a type of cryptocurrency, which is a virtual currency designed to act as money outside the control of any one person which removes the need for third-party involvement in financial transactions.

How is Bitcoin a type of cryptocurrency?

Blockchain is the technology that allows cryptocurrency to exist (among other things). Bitcoin is the name of the most well-known cryptocurrency, for which blockchain technology as we know it was developed.

A cryptocurrency, like the US dollar, is a medium of exchange that is digital and uses cryptographic techniques and a protocol to verify the transfer of funds and control the creation of monetary units.

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Which of the following is not a legal right of a debtor?
A. The right to ignore persistent calls from a debt collector
B. The right to declare bankruptcy
C. The right to verify the amount of debt you owe
D. The right to protection from deceptive collection practices

Answers

Debtors are granted some measures or rights. The option that is not a legal right of a debtor is right to declare bankruptcy.

A lot of creditors often do not obey simple rules, and thus uses some kind of deceptive or intimidating actions so as to recover money they are owed.

A lot of creditors often uses threats of violence in trying to recover debt.

In the State of California’s Rosenthal Act, one, as a debtor, is known to have the right to be free from harassing letters and calls from creditors and collection agencies because of unpaid debt.

it is known to stop creditors from constantly disturbing one at home or sending threatening letters on a regular basis.

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Answer:

A. The right to ignore persistent calls from a debt collector

Explanation:

. Suppose that a farmer grows wheat, which she sells to a miller for $10. The miller turns the wheat into flour, which she sells to a baker for $55. The baker turns the wheat into bread, which she sells to consumers for $140. Consumers eat the bread. What is GDP in this economy

Answers

Based on the various amounts that the bread was sold for to different people, the GDP in the country is $140

The GDP in a country refers to the final value of goods and services produced in the country and not the intermediate value.

This is done to avoid the phenomenon known as double counting which can inflate GDP.

The GDP here is therefore the final price of the bread which is $140.

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7. The Moroccan monetary authority is using a heavily-managed float to keep the dirham at U.S. $0.12 per dirham. Under current foreign exchange market conditions, nonofficial supply and demand would clear at U.S. $0.15 per dirham.

a. Using official intervention, what does the official Moroccan monetary authority have to do to keep the exchange rate at U.S. $0.12 per dirham?
b. If the monetary authority believes that this is a temporary disequilibrium, what does the authority expect to happen soon?
c. If private investors and speculators believe that this is a fundamental disequilibrium, what actions are they likely to take?

Answers

Based on the information given, the thing that should be done to keep the exchange rate at $0.12 per dirham is to sell foreign currencies to get more dirham.

It should be noted that since the non-official supply and demand of dirham is pegged at $0.15/ Dirham and the actual rate is $0.12/dirham, it implies that the Dirham is devaluated.

 

The authority will believe that due to devaluation, net export will rise and this will increase the income of the country.

Lastly, the private investors and speculators will not invest because the currency has lost its value compared to the dollars.

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A company's environmental sustainability strategy: ____________

a. is incompatible with the triple-bottom-line approach because it does not take into account people and profits.
b. always takes a back seat to strategies designed to improve a company's standing in the marketplace.
c. entails business practices that meet the needs of the future by rationing what is provided to present-day customers.
d. has a strong historical correlation with increases in the well-being of the environment and economic growth.
e. consists of a company's actions to protect the environment, provide for the longevity of natural resources, and maintain ecological support systems for future generations.

Answers

Answer:

A sustainability or corporate responsibility strategy is a prioritised set of actions. It provides an agreed framework to focus investment and drive performance, as well as engage internal and external stakeholders. The starting point for any strategy needs to be why the company is in business.

Explanation:

letter E is the answer

A hurricane hits the coast of the United States, destroying oyster farms. Afterward,
oyster farmers have far fewer oysters to sell to stores and restaurants.
What is this situation an example of?
A. Incentive
B. Demand
C. Scarcity
D. Trade-off

Answers

Answer: C. Scarcity

The situation is an example of scarcity.
The answer would be Scarcity because they are short supply do to the hurricane.

The Medical Device Makers Association does not include all manufacturers of medical and surgical instruments. The association refuses to deal with any parties who do not carry the products of its members. This is Group of answer choices a situation that neither restrains trade nor harms competition. subject to analysis under the rule of reason. not within the scope of the Sherman Act. a per se violation of antitrust law.

Answers

The word per se is often means the act is illegal in some countries. The above Scenario is known to be a per se violation of antitrust law.

The Per se rule is often used in the cases that involves price fixing, group boycott etc. This kind of case often needs a lot of inquiry before it is handled.

There are different kinds of per se violations of antitrust law. Some other  business practices that can be said to be per se illegal under antitrust laws are:

When there is an horizontal market allocation agreementsWhen some particular horizontal group did boycotts by competitorsWhen there is tying arrangements etc.

Antitrust laws is known to hinder the act of lowering the price in a specific geographic area so as to drive out competition.

Federal antitrust laws aim to keep the unity and peace of the free and open market competition both in the geographic areas and in types of products or services.

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what is likely to play a more important role in a mixed economy than in a free market economy

Answers

Answer:

Heya!

Explanation:

The characteristics of a mixed economy include allowing supply and demand to determine fair prices, the protection of private property, innovation being promoted, standards of employment, the limitation of government in business yet allowing the government to provide overall welfare, and market facilitation by the self-interest of the players involved.

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When assets are pooled into financial instruments such as collateralized mortgage obligations (CMOs) to better facilitate selling them to the general public, the process is known as

Answers

It should be noted that When assets are pooled into financial instruments such as Collateralized Mortgage Obligations (CMOs) to better facilitate selling them to the general public the process is known as:

Securitization

Securitization helps in a process which involves the pooling of asset in order to make their selling to be faster and make the public to be aware of it.

Therefore, securitization is When assets are pooled into financial instruments such as Collateralized Mortgage Obligations.

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Brown Co. had current assets of $15,000, total assets of $30,000 and current liabilities of $9,000 at the end of the year. The current ratio for the period is:

Answers

Based on the information given the current ratio for the period is: 1.67.

Using this formula

Current ratio=Current Assets/Current Liabilities

Where:

Current Assets=$15,000

Current Liabilities=$9,000

Let plug in the formula

Current ratio=$15,000/$9,000

Current ratio=1.666

Current ratio=1.67(Approximately)

Inconclusion the current ratio for the period is: 1.67.

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Question 1 of 15.
#1. Objective A: Left Turn
True False
Mark for follow up

Answers

True is ur answer I hope it helps you

Based on the question above, the correct answer goes thus:

True

Objectivity

To be objective implies that you State facts as it is devoid of your opinions. According to the available text, left turn is true

In conclusion, we can conclude that the correct answer is true

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Those little ______ will grow up to be ants someday.

Answers

Larvae ………………………………..

A tax on the amount of money a person earns in a year is a(n)
A. income tax
B. sales tax
C. credit tax
O D. property tax

Answers

Answer:

A. Income Tax

Explanation:

Answer:income Tax

Explanation:I jus take a test

explain why a business that is small enough to be managed by one or a few people and does not require a large amount of capital would be good for a proprietorship

Answers

A business that is small enough to be run by one or a few people and does not require a large amount of capital would be good for a sole proprietorship.

This type of business structure has less bureaucracy and does not require a lot of formality to be managed, making it an ideal setting for family businesses, such as grocery stores and clothing stores.

Therefore, in a sole proprietorship, the owner is responsible for the risks inherent in the business, with greater freedom and flexibility.

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Ambinu Flower Company provides flowers and other nursery products for decorative purposes in medium to large sized restaurants and businesses. The company has been investigating the purchase of a new specially equipped van for deliveries. The van has a value of $133,750 with a six-year life. The expected additional cash inflows are $52,500 per year. What is the payback period for this investment

Answers

The payback period for this investment is 2.55 years.

The payback period is a capital budgeting method. It is used to determine how long it would take to recover the amount of money invested in an project from the cumulative cash flows.

An advantage of the payback period method is that it is easy to calculate. A drawback is that it ignores the time value of money.

Payback period = amount invested in the van / cash flows

$133,750 / $52,500 = 2.55 years

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Why should a country trade with other
nations?
A. to import as much as possible from other countries
B. to export 30% of production and stimulate
economic growth
C. to take advantage of the production strengths of
each country

Answers

B is the most reasonable answer

expalain fiveprinciples of insurance​

Answers

Answer:

insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.

Holly's salary is $80,000 per year. She contributes 10% of her salary to her 401(k) plan. Her employer contributes 5% of her salary to a profit share plan. She also contributes $2,500 per year to an IRA. Holly's savings ratio is

Answers

Based on the amount that Holly contributes per year, her savings ratio can be said to be 18.1%.

Savings RatioPercentage of annual salary that is contributed to retirement funds. Includes savings made by employer.

Holly's savings are:

= (10% + 5%) of salary + Contribution to IRA

= (15% X 80,000) + 2,500

= $14,500

Savings ratio is:

= Savings / Annual salary

= 14,500 / 80,000

= 18.1%

In conclusion, savings ratio is 18.1%.

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4. Explain how, or even if, the Earned Value method of measuring project progress could be used to accurately measure progress for individual work packages

Answers

It is true that Earned Value method is used to measure a project progress because its work by measuring individual work packages.

The Earned Value method is a standard analyst method used to measure a project's progress at any point in time.

The formula used to Earned Value is by dividing the total project budget by the number of work blocks.

In conclusion, It is true that Earned Value method is used to measure a project progress because its work by measuring individual work packages.

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During the current year, merchandise is sold for $21,100 cash and $341,700 on account. The cost of the merchandise sold is $217,200. What is the amount of the gross profit

Answers

Answer:

$235,900

Explanation:

i hope she is your answer

The gross profit is $145,600. A company's gross profit is equal to its total sales less its total cost of products sold. Total sales include all goods sold by the company.

What are COGS?

The total amount your company paid as a cost directly tied to the selling of products is known as the cost of goods sold. Depending on your industry, this could include resale products, raw materials, packaging, and direct labor associated with making or selling the product.

Given

Cash Sale = $21,100

Credit Sale = $341,700

COGS = $217,200

Required to Calculate the amount of the Gross Profit =?

Gross Profit = Sales - COGS

Gross Profit = 341,700 + 21,100 - 217,200 = $145,600.

Thus, the gross profit is $145,600. On the surface, a gross profit margin ratio of 50 to 70% appears to be healthy, and it is for many types of businesses, including retailers, restaurants, manufacturers, and other goods makers.

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xyz company's cost function for the next four months is c=500000+5q then
a) find the be dollar volume of sales if the selling price is br. 6/unit
b) what would be the company's cost if it decides to shutdown operations for the next four months

Answers

Answer:

Enter the following transactions into richard’s checkbook register and state his ending balance: date type description amount 03/01 check #204 blue sky apartments $455. 00 03/05 dep payroll automatic deposit $390. 36 03/08 debit benny’s hamburgers and fries $9. 20 03/15 check #205 car payment $251. 59 03/19 dep payroll automatic deposit $390. 36 a. $715. 79 b. $1,009. 81 c. $780. 72 d. $880. 24.

where does the 32 come from in cash received for common stock issued

Answers


A public company can issue common stock to the shareholders of acquisition targets, which they can then sell for cash. This approach is also possible for private companies, but the recipients of those shares will have a much more difficult time selling their shares.

Multiply the number of shares issued by the price per share. Doing this calculation gives you the amount of cash raised by the sale of the stock. For example, if the company issues 100 shares at $10 per share, the result is $1,000 of additional capital raised from stock issuances.
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