Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||
| Mar. | 1 | Beginning inventory | 120 | units | @ $51.40 per unit | |||||||
| Mar. | 5 | Purchase | 235 | units | @ $56.40 per unit | |||||||
| Mar. | 9 | Sales | 280 | units | @ $86.40 per unit | |||||||
| Mar. | 18 | Purchase | 95 | units | @ $61.40 per unit | |||||||
| Mar. | 25 | Purchase | 170 | units | @ $63.40 per unit | |||||||
| Mar. | 29 | Sales | 150 | units | @ $96.40 per unit | |||||||
| Totals | 620 | units | 430 | units | ||||||||
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)
In: Accounting
Which of the following statements is the most accurate description of limited liability?
| A. |
In a company limited by shares, shareholder who holds a share in the company is not liable beyond any amount outstanding on partly paid shares. |
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| B. |
In a company limited by shares, a company has limited liability for their debts. |
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| C. |
A company is a separate legal entity from its directors, so directors are always shielded from the company's losses. |
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| D. |
A and B above. |
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| E. |
None of the above. |
In: Accounting
Caroline is retired and receives income from a number of sources. the payments are from bonds that Caroline purchased over past years and disability insurance policy that Caroline purchased. Calculate her income
Distributions from qualified pension plan $5400
Interest on binds issued by City of Austin, Texas $2500
Social Security benefits $8200
Interest on US Treasury Bills $2300
Interest on bonds issued by Ford Motor Company $1900
Interest on bonds issued by City of Quebec, Canada $2750
Disability insurance $9500
In: Accounting
In: Physics
Students of a large university spend an average of $7 a day on lunch. The standard deviation of the expenditure is $2. A simple random sample of 25 students is taken. What is the probability that the sample mean will be at least $4? Jason spent $15 on his lunch. Explain, in terms of standard deviation, why his expenditure is not usual. Explain what information is given on a z table. For example, if a student calculated a z value of 2.77, what is the four-digit number on the z table that corresponds with that value? What exactly is that 4-digit number telling us? Explain why we use z formulas. Why don't we just leave the data alone? Why do we convert? must show work
In: Statistics and Probability
Problem 4. You would like to have enough money saved to receive $200,000 per year after retirement so that you and your family can lead a good life for 30 years (from age 65 to 95). You will make your first withdraw of $200,000 at the end of year when you are 65. If you will be 35 years old when you graduate and plan on making savings contributions at the end of your first year out of school, how much would you need to save in your post-MBA retirement fund to achieve this goal? Assume an interest rate is 8%.
In: Finance
In: Economics
For a service business, the trend is towards market-based sourcing (where the customer is) rather than where the service is delivered from. Does this favor states that are highly populated or states that are lightly populated? If an individual service provider has withholdings made on her service receipts by a Company in a state that she is not a resident of what is likely the mitigating provision in her resident state? What is the result if the resident state has no income tax?
In: Accounting
For a service business, the trend is towards market-based sourcing (where the customer is) rather than where the service is delivered from. Does this favor states that are highly populated or states that are lightly populated? If an individual service provider has withholdings made on her service receipts by a Company in a state that she is not a resident of what is likely the mitigating provision in her resident state? What is the result if the resident state has no income tax?
In: Accounting
In: Psychology