Questions
The following data regarding purchases and sales of a commodity were taken from the related perpetual...

The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account: (30 points) June 1 Balance 25 units at $60 6 Sale 20 units at $70 8 Purchase 20 units at $61 16 Sale 10 units at $70 20 Purchase 20 units at $62 23 Sale 25 units at $70 30 Purchase 15 units at $63 ​ Record the inventory, purchases, cost of goods sold and sales in a perpetual inventory record similar to what we have done in class on homework, using the first-in first-out method. Journalize the entries in the sales and cost of sales accounts. Assume that all sales were on account. Determine the gross profit from sales for the period. Determine the ending inventory.

In: Accounting

the preferences of two individuals are represented by the following equations: U1 = X1Y1 and U2...

the preferences of two individuals are represented by the following equations:
U1 = X1Y1 and U2 = X2Y2; where U1 denotes the utility of person 1; X1 and Y1 denote this person's consumption of goods X and Y, respectively; while U2, X2 and Y2 stand for the corresponding variables of person 2. Person 1 is endowed with 2 units of X and 12 units of Y, whereas person 2 is endowed with 4 units of X and 6 units of Y.

A. Derive the first person's demand for X as a function of PX and PY; where PX and PY represent the prices per unit of X and Y, respectively.

B. Assuming that the two individuals exchange as perfect competitors, find the equilibrium value of the price ratio PX/PY.

C. Calculate the first person's gain from exchange.

In: Economics

Can someone please assist me with this assignment? Do an economic analysis of two giant competitor...

Can someone please assist me with this assignment?

Do an economic analysis of two giant competitor brands, Coke and Pepsi, in the context of them being rivals in the "Twenty-First Century" and use all the knowledge you have gathered over the last several weeks. Please do not make it a financial case.  It is to be an economics case study, utilizing the economic model of pure competition, monopolistic competition, oligopoly or monopoly. Use the most recent sources to make it more relevant. There is plenty of information out there including their home pages for starters. Please follow the same requirements as found in the first case (Week 3) and apply everything that you have learned in the class as long as it is relevant to the case.

In: Economics

Capital One Bank enters into a $10,000,000 quarterly‐pay plain‐vanilla interest rate swap as the fixed‐rate payer...

Capital One Bank enters into a $10,000,000 quarterly‐pay plain‐vanilla interest rate swap as the fixed‐rate payer at a swap rate of 6% based on a 360‐day year. The floating‐rate payer, First Bank, agrees to make payments at 90‐day LIBOR plus a 0.6% margin. The 90‐day LIBOR rate currently stands at 4%. LIBOR‐90 rates are as follows:

 90 days from today = 4.5%

180 days from today = 5.1%

270 days from today = 5.6%

360 days from today = 6.0%

After 180 days, First Bank will most likely:

Group of answer choices

Pay $7,500.

Receive $37,500.

Receive $22,500.

In: Finance

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data.
  

BUSINESS SOLUTIONS
Income Statement
For Three Months Ended March 31, 2020
Computer services revenue $ 25,207
Net sales 18,593
Total revenue 43,800
Cost of goods sold $ 14,552
Depreciation expense—Office equipment 360
Depreciation expense—Computer equipment 1,220
Wages expense 2,650
Insurance expense 545
Rent expense 2,375
Computer supplies expense 1,275
Advertising expense 510
Mileage expense 310
Repairs expense—Computer 910
Total expenses 24,707
Net income $ 19,093
BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
Mar. 31, 2020 Dec. 31, 2019
Assets
Cash $ 76,327 $ 52,972
Accounts receivable 23,667 5,168
Inventory 644 0
Computer supplies 2,015 500
Prepaid insurance 1,060 1,625
Prepaid rent 805 805
Total current assets 104,518 61,070
Office equipment 7,000 7,000
Accumulated depreciation—Office equipment (720 ) (360 )
Computer equipment 19,600 19,600
Accumulated depreciation—Computer equipment (2,440 ) (1,220 )
Total assets $ 127,958 $ 86,090
Liabilities and Equity
Accounts payable $ 0 $ 1,180
Wages payable 905 550
Unearned computer service revenue 0 2,100
Total current liabilities 905 3,830
Equity
Common stock 104,000 74,000
Retained earnings 23,053 8,260
Total liabilities and equity $ 127,958 $ 86,090

Required:
Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $30,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,300 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2018 Computer services revenue $ 24,507 Net sales 18,193 Total revenue 42,700 Cost of goods sold $ 14,252 Depreciation expense—Office equipment 380 Depreciation expense—Computer equipment 1,180 Wages expense 2,950 Insurance expense 495 Rent expense 2,075 Computer supplies expense 1,285 Advertising expense 600 Mileage expense 250 Repairs expense—Computer 910 Total expenses 24,377 Net income $ 18,323 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Mar. 31, 2018 Dec. 31, 2017 Assets Cash $ 75,517 $ 55,302 Accounts receivable 24,167 4,968 Inventory 674 0 Computer supplies 2,005 560 Prepaid insurance 1,080 1,625 Prepaid rent 755 755 Total current assets 104,198 63,210 Office equipment 7,200 7,200 Accumulated depreciation—Office equipment (760 ) (380 ) Computer equipment 19,500 19,500 Accumulated depreciation—Computer equipment (2,360 ) (1,180 ) Total assets $ 127,778 $ 88,350 Liabilities and Equity Accounts payable $ 0 $ 1,200 Wages payable 895 590 Unearned computer service revenue 0 2,200 Total current liabilities 895 3,990 Equity Common stock 106,000 77,000 Retained earnings 20,883 7,360 Total liabilities and equity $ 127,778 $ 88,350 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2018. Owner Santana Rey contributed $29,000 to the business in exchange for additional stock in the first quarter of 2018 and has received $4,800 in cash dividends.

In: Accounting

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2019 Computer services revenue $ 25,307 Net sales 18,693 Total revenue 44,000 Cost of goods sold $ 14,052 Depreciation expense—Office equip. 400 Depreciation expense—Computer equip. 1,250 Wages expense 3,250 Insurance expense 555 Rent expense 2,475 Computer supplies expense 1,305 Advertising expense 600 Mileage expense 320 Repairs expense—Computer 960 Total expenses 25,167 Net income $ 18,833 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2018, and March 31, 2019 Mar. 31, 2019 Dec. 31, 2018 Assets Cash $ 68,057 $ 48,372 Accounts receivable 22,867 5,668 Inventory 704 0 Computer supplies 2,005 580 Prepaid Insurance 1,110 1,665 Prepaid rent 825 825 Total current assets 95,568 57,110 Office equipment 8,000 8,000 Accumulated depreciation—Office equip. (800 ) (400 ) Computer equipment 20,000 20,000 Accumulated depreciation—Computer equip. (2,500 ) (1,250 ) Total assets $ 120,268 $ 83,460 Liabilities and Equity Accounts payable $ 0 $ 1,100 Wages payable 875 500 Unearned computer service revenue 0 1,500 Total current liabilities 875 3,100 Equity Common stock 98,000 73,000 Retained earnings 21,393 7,360 Total liabilities and equity $ 120,268 $ 83,460 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2019. Owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2019 and has received $4,800 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data.

BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue $ 25,007 Net sales 17,893 Total revenue 42,900 Cost of goods sold $ 14,652 Depreciation expense—Office equipment 370 Depreciation expense—Computer equipment 1,250 Wages expense 2,950 Insurance expense 475 Rent expense 1,575 Computer supplies expense 1,285 Advertising expense 580 Mileage expense 260 Repairs expense—Computer 860 Total expenses 24,257 Net income $ 18,643 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2020 Dec. 31, 2019 Assets Cash $ 77,407 $ 57,102 Accounts receivable 23,767 4,868 Inventory 694 0 Computer supplies 2,085 500 Prepaid insurance 1,030 1,605 Prepaid rent 805 805 Total current assets 105,788 64,880 Office equipment 7,500 7,500 Accumulated depreciation—Office equipment (740 ) (370 ) Computer equipment 19,000 19,000 Accumulated depreciation—Computer equipment (2,500 ) (1,250 ) Total assets $ 129,048 $ 89,760 Liabilities and Equity Accounts payable $ 0 $ 1,200 Wages payable 945 500 Unearned computer service revenue 0 2,400 Total current liabilities 945 4,100 Equity Common stock 106,000 78,000 Retained earnings 22,103 7,660 Total liabilities and equity $ 129,048 $ 89,760

Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $28,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,200 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data.
  

BUSINESS SOLUTIONS
Income Statement
For Three Months Ended March 31, 2020
Computer services revenue $ 24,307
Net sales 18,393
Total revenue 42,700
Cost of goods sold $ 14,652
Depreciation expense—Office equipment 400
Depreciation expense—Computer equipment 1,210
Wages expense 3,050
Insurance expense 525
Rent expense 2,375
Computer supplies expense 1,275
Advertising expense 510
Mileage expense 280
Repairs expense—Computer 860
Total expenses 25,137
Net income $ 17,563
BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
Mar. 31, 2020 Dec. 31, 2019
Assets
Cash $ 80,067 $ 53,512
Accounts receivable 23,667 5,168
Inventory 674 0
Computer supplies 2,055 510
Prepaid insurance 1,020 1,585
Prepaid rent 815 815
Total current assets 108,298 61,590
Office equipment 7,100 7,100
Accumulated depreciation—Office equipment (800 ) (400 )
Computer equipment 19,100 19,100
Accumulated depreciation—Computer equipment (2,420 ) (1,210 )
Total assets $ 131,278 $ 86,180
Liabilities and Equity
Accounts payable $ 0 $ 1,110
Wages payable 955 510
Unearned computer service revenue 0 1,600
Total current liabilities 955 3,220
Equity
Common stock 109,000 75,000
Retained earnings 21,323 7,960
Total liabilities and equity $ 131,278 $ 86,180


Required:
Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $34,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,200 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her...

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue $ 25,207 Net sales 17,993 Total revenue 43,200 Cost of goods sold $ 14,852 Depreciation expense—Office equipment 310 Depreciation expense—Computer equipment 1,250 Wages expense 2,850 Insurance expense 525 Rent expense 1,975 Computer supplies expense 1,285 Advertising expense 540 Mileage expense 310 Repairs expense—Computer 860 Total expenses 24,757 Net income $ 18,443 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2020 Dec. 31, 2019 Assets Cash $ 74,567 $ 54,312 Accounts receivable 24,167 5,168 Inventory 614 0 Computer supplies 2,085 510 Prepaid insurance 1,060 1,655 Prepaid rent 825 825 Total current assets 103,318 62,470 Office equipment 7,500 7,500 Accumulated depreciation—Office equipment (620 ) (310 ) Computer equipment 19,700 19,700 Accumulated depreciation—Computer equipment (2,500 ) (1,250 ) Total assets $ 127,398 $ 88,110 Liabilities and Equity Accounts payable $ 0 $ 1,120 Wages payable 895 530 Unearned computer service revenue 0 1,500 Total current liabilities 895 3,150 Equity Common stock 104,000 77,000 Retained earnings 22,503 7,960 Total liabilities and equity $ 127,398 $ 88,110 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $3,900 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting