• Purchased merchandise from Boden Company for $6,700 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1.

Note: Enter debits before credits.

• Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2.

Note: Enter debits before credits.

• Record the cost of merchandise sold, $558

Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System

The following selected transactions were completed during August between Summit Company and Beartooth Co.:

Required:

1. Journalize the August transactions for Beartooth Co. (the buyer).

2. Journalize the August transactions for Summit Company (the seller).

7.         I am a student and can afford a monthly car payment of $350. How much could I finance on a car purchase, assuming auto borrowing rates are 3.0%, and the term of the loan is 5 years?

8.         I have since graduated from Webster. I can now afford a payment of $550 per month. How much could I finance now, assuming terms of 3.0%, and 6 years?

Blake operated as a sole proprietor reported on schedule he used 350 square feet of his 2100 square feet rented loft exclusively and regularly for business. Blake used the cash accounting method and had the following income and expenses for his financial planning business:

gross receipts$3695
advertising$80
business Insurance$685
business license $100
comprehensive health insurance entire year$7788
office supplies$76
postage$38
rent entire year $14400
renters insurance$1055
second phone line exclusively for business$103
tax prep business$350
utilities entire year$2282.

Blake closed his business April 1 2018. he had no carryover losses and all assets were fully deprecated. if Blake elects to use actual oih expenses what is the amount of his deduction

Problem 11:

A summer resort took a poll of its 350 visitors to see which summer activities people preferred. The results are as follows:

112 of the resorts visitors liked to surf

121 of the resorts visitors liked to Jet Ski

145 of the resorts visitors liked to swim

18 of the resorts visitors liked to surf and Jet Ski

30 of the resorts visitors liked to surf and swim

25 of the resorts visitors liked to Jet Ski and swim

13 liked to participate in all three activities.

1. Draw a Venn Diagram:

2. How many people liked to do none of these activities?

3. How many people liked to surf and swim, but not Jet Ski?

4. How many people like to Jet Ski only?

5. How many people liked to surf or Jet Ski?

6. How many people did not like to swim?

B. Compare and contrast these two case studies: (350 words)

The first one we discussed in class, General Motors (GM), which decided to offshore production from the USA to Mexico. When GM began this in the late 70s, it was a relatively new idea for a major American producer, and was highly controversial, but the trend has grown over the decades, and nowadays other major car companies, including European and Asian giants like BMW and Honda, have followed the same strategy to close plants in their homelands and reopen in Mexico where labor is much cheaper. In 1978, there were 80,000 GM employees in the Flint, Michigan area, and today there are around 7,000. As those plants closed, the consequences have been very destructive for the surrounding towns, where unemployment skyrocketed (and with it crime, gangs and drugs), and areas have become like ghost towns where people have been evicted from their homes, and apartment buildings and businesses have been abandoned. As GM first began this offshoring in the late 70s they were enjoying a 49% share of the American car market, but changes in the market were showing that they would soon be losing this high position. By the mid 80’s they were down to 40% and this downward trend has continued (not only for them but for other American car manufacturers as well). Today, they stand at 15%.

The second one involves Malden Mills, a textile company (fabrics and clothing) in Lawrence, Massachusetts, near the city of Boston in the USA. In the 80s, other textile companies in the region had closed their Boston area factories to relocate to where labor was cheaper, often to Asia and Mexico, but Malden Mills decided to stay. During the 80s they survived near-bankruptcy and decided to gamble and re-focus their production on high-end, high-priced specialty fabrics, especially Polartec, a lightweight, fleecy material that turned out to be very popular with brands like L. L. Bean and Ralph Lauren. The gamble paid off and the Polartec profits rose from $5 million in 1982 to $200 million in 1995. The company was quite strong and successful when a crisis hit in December of 1995—an accidental industrial fire completely destroyed the factory. Everyone in the industry expected Malden Mills to do the only ‘smart’ thing at this point and take the $100 million insurance money and reopen in a developing country where labor would be cheaper. But they shocked everyone by announcing that they would rebuild in Lawrence, and also they would pay full salaries to their 3,000 employees for 3 months and continued health insurance for 6 months. Rebuilding in Lawrence ended up costing the company around $450 million and keeping the laid-off workers on salary and health benefits cost $20 million more, but the company gained a national reputation as a business ‘with a heart’ and enjoyed a very positive boost to their brand. They reopened in 1996, and most of the original employees were hired back, as their jobs were held for them. As the years went by, however, the company fell upon hard times. Perhaps due to the amount of money they spent on rebuilding, or perhaps it was mostly due to changes in the marketplace, but Malden Mills had to declare bankruptcy in 2007. The family that had run the plant for generations was forced out as another company took over, changed the name to Polartec, reduced the staff to 800, and moved most of the operations to other countries.

As you compare and contrast these two case studies, make sure you apply contrasting theories as well, such as Shareholder vs Stakeholder, or perhaps Social Darwinism vs. Ethic of Care. Since this is an essay, make sure you have a central point that you are developing along the way, which will be important to your conclusion.

Write a 350- to 525-word paper in which you complete the following:

Explain the difference between permanent and temporary working capital, and describe what a firm could do to minimize risk.

Evaluate how small adjustments made to total cash conversion can have a large impact upon the financial health of a company.

Describe Economic Order Quantity (EOQ Using the EOQ formula and an example product for your business, determine the optimal quantity of the item to purchase that will help to minimize the annual total costs of keeping that item in inventory.

Describe what a Just-in-Time (JIT) inventory system is and its significance in reducing inventory costs.

A retailer has been selling 1200 tablet computers a week at $350 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered.
what is p(x) =
what price should be set for max revenue
If the retailer's weekly cost function is C(x) = 35,000 + 130x what price should it choose in order to maximize its profit?

A small plane can fly 350 miles with tailwind in 1 3/4 hour. In the same amount of time, the same plane can travel only 210 miles with a headwind. What is the speed of the plane in still air and the speed of the wind?