The Tanner Company has provided the following information after year-end adjustments:
Allowance for doubtful accounts increased $26,600.
Accounts receivable increased $485,000 during the year.
Accounts written off as uncollectible totaled $29,500.
Sales totaled $2,690,000.
Sales discounts were $119,000.
What was the amount of Tanner’s net sales?
Answers
The amount of Tanner Company's net sales is $2,999,900, calculated by deducting sales discounts, accounts written off, and adding the increase in accounts receivable to the sales amount.
To calculate the net sales, we start with the total sales and deduct any sales discounts and sales returns (accounts written off as uncollectible).
Sales = $2,690,000
Sales discounts = $119,000
Accounts written off as uncollectible = $29,500
Net Sales = Sales - Sales Discounts - Accounts Written off as Uncollectible
= $2,690,000 - $119,000 - $29,500
= $2,541,500
However, we also need to consider the increase in the allowance for doubtful accounts. This increase indicates that a portion of the accounts receivable may not be collectible.
Allowance for Doubtful Accounts increased = $26,600
To account for this, we subtract the increase in the allowance for doubtful accounts from the net sales:
Net Sales - Increase in Allowance for Doubtful Accounts
= $2,541,500 - $26,600
= $2,514,900
Finally, we need to add the increase in accounts receivable to get the final amount of net sales:
Net Sales + Increase in Accounts Receivable
= $2,514,900 + $485,000
= $2,999,900
Hence, the amount of Tanner Company's net sales is $2,999,900.
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Related Questions
¿Que es una fuente luminosa?
Answers
WillowWorks LLC, a retail clothing store, has been sourcing its raw materials from a supplier named ThreadTym Corp. for the last five years. A change of management at ThreadTym resulted in an increase of the prices of the raw materials. As a result, WillowWorks purchases ThreadTym so that it can produce these products on its own. This scenario best illustrates ________.
Answers
Answer: backward integration
Explanation:
Backward integration refers to a scenario whereby a company purchases another company which supplies the products that are required for production.
Since WillowWorks purchases ThreadTym so that it can produce these products on its own, then this is backward integration.
using the technological innovation that you have selected for your final project, consider each of the quantitative and qualitative methods that were addressed in the textbook reading for choosing innovation projects. for each method, briefly discuss the applicability of that method for the business scenario provided for the final project. recommend a specific method or combination of methods to use for the business scenario. should you apply the recommendation, would the method recommend the same innovation that you chose in your final project milestone one? why or why not?
Answers
Analysis Paper: Innovation Project Evaluation Methods That Recommend Your Final Project Phase Innovation Selection
An innovation project is what?A document outlining strategies for implementing innovation activity programs that lead to the development of novel or considerably improved goods, services, and technologies is referred to as an innovation project.
What modern product is the most innovative?the Internet Since the internet is now utilized by so many people, it is difficult to envision life without it. It might be the most effective modern invention in this way.
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Daves Inc. recently hired you as a consultant to estimate the company's WACC. You have obtained the following information. (1) The firm's noncallable bonds mature in 20 years, have an 8.00% annual coupon, a par value of $1,000, and a market price of $1,000.00. (2) The company's tax rate is 25%. (3) The risk-free rate is 4.50%, the market risk premium is 5.50%, and the stock's beta is 1.20. (4) The target capital structure consists of 35% debt and the balance is common equity. The firm uses the CAPM to estimate the cost of equity, and it does not expect to issue any new common stock. What is its WACC? Do not round your intermediate calculations.
Answers
Answer:
9.315%
Explanation:
The computation of WACC is shown below:-
But before that we need to do the following calculations
PV -$1,000
PMT 80
N 20
FV $1,000
Compute IY 8%
After tax cost of Debt = Before tax cost of debt × (1 - tax rate)
= 8% × (1 - 25%)
= 6%
According to the CAPM,
Cost of Equity =Risk free Rate + (Beta × Market Risk Premium)
= 4.5% + (1.2 × 5.5%)
= 11.10%
Weight of Equity = 100% - 35%
= 65%
WACC = (Weight of Equity × Cost of Equity) + (Weight of debt × Cost of debt)
= (65% × 11.10) + (35% × 6)
= 9.315%
Based on the information given Daves Inc WACC is 9.32%.
First step is to find then YTM using financial calculator
PV= -$1,000
PMT= 80
N=20
FV =$1,000
Hence:
YTM=8%
Second step is to calculate the After tax cost of Debt
After tax cost of Debt = Before tax cost of debt × (1 - tax rate)
After tax cost of Debt = 8% × (1 - 25%)
After tax cost of Debt = 6%
Third step is to calculate the Cost of Equity
Cost of Equity =Risk free Rate + (Beta × Market Risk Premium)
Cost of Equity= 4.5% + (1.2 × 5.5%)
Cost of Equity= 11.10%
Fourth step is to calculate WACC
WACC= (.35 × 6%×)+ [(1-.35)×11.10%]
WACC=(.35×6%)+(.65×11.10%)
WACC=2.1%+7.215%
WACC=9.315%
WACC= 9.32% (Approximately)
Inconclusion Daves Inc WACC is 9.32%.
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Cody worked 59 hours last week. Of those hours, 40 hours were paid at the regular rate of $12.50. Ten hours were paid at time-and- a-half, and 9 hours at the double-time rate.
a) What was the gross pay for regular hours?
b) What was Cody’s overtime wages?
c) What was Cody’s total gross pay for the week?
Answers
Answer:
Explanation:
a. What was the gross pay for regular hours?
This will be the regular pay multiplied by the regular hours. This will be:
= $12.50 × 40
= $500
b) What was Cody’s overtime wages?
Cody's overtime wages will be the total amount earned during overtime. This will be:
= [10 × ($12.50 × 1.5)] + [ 9 × ($12.50 × 2)]
= (10 × $18.75) + (9 × $25)
= $187.50 + $225.
= $412.50
c) What was Cody’s total gross pay for the week?
The total gross pay for the week will be the addition of the amount that was earned during regular hours and overtime. This will be:
= $500 + $412.50
= $912.50
which target market the Beetle’s makers and promoters were aiming at.
Answers
The target market for the new Beetle are people between 18-34 years old as well as baby boomers.
Who encouraged the Volkswagen Beetle's development?A review of a German success story in this article. The Volkswagen Beetle was created by two individuals, Adolf Hitler and Ferdinand Porsche, and it was a massive undertaking.
Therefore, the Segmentation of the New Beetle People who are "psychologically young," individualistic, self-assured, and nonconformist should be the New Beetle's target market.
According to research, prospective New Beetle drivers exhibited traits including self-assurance, independence, and a desire to command attention. They enjoyed driving and valued German engineering and spirited designs.
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is a physical count of items in inventory used to reduce the discrepancies between inventory records and the actual items on hand.
Answers
Answer:
Inventory cycle counting
Explanation:
Inventory cycle counting is a physical count of items in inventory used to reduce the discrepancies between inventory records and the actual items on hand.
Cycle counting is an inventory audit process. Under this process, a small part of the inventory is counted on a specific day. The purpose of cycle counting is the verification of inventory accuracy and identify and reduce inventory errors that occurs while recording the inventory.
Gabrielle is three months behind on her mortgage, and her lender filed negative information affecting her credit rating. Gabrielle mailed one monthly payment to the lender along with a letter stating that she was making the payment on the condition that the lender remove negative material sent to credit reporting agencies affecting her credit rating. The lender cashed the check but did not remove the negative information. Gabrielle sues the bank for breach of contract. Which of the following is the most likely result?
a. The bank will win because under the preexisting duty rule, Gabrielle was already legally obligated to make the payment, and there was no consideration to support the contract.
b. The bank will win because under federal law, once correct negative information is reported regarding a customer, it can be removed only if it is found to be untruthful.
c. The bank will win because under state law, once correct negative information is reported regarding a customer, it can be removed only if it is found to be untruthful.
d. Gabrielle will win because the bank's cashing the check constituted acceptance of her offer, and a valid contract existed.
e. Gabrielle will win because the bank had an obligation to notify her that it was not accepting her offer before cashing the check.
Answers
Which of these events would be a result of inflation? a business reports a loss for a tax year
Answers
An events that would be a result of inflation is that company scales back its production. The Option C is correct.
What are inflation impact on company?Inflation is defined as an increase in the average price level of goods and services in an economy over time. When there is high inflation, each unit of currency buys fewer goods and services. As a result, businesses may struggle to maintain profit margins. Furthermore, consumers may reduce their spending, resulting in lower sales for businesses.
Inflation, on the other hand, can present opportunities for businesses. For instance, if prices rise faster than wages, businesses may be able to raise their prices without losing customers. Furthermore, inflation can stimulate demand for new products and services that assist people in dealing with rising prices.
Missing options "A. A business reports a loss for a tax year B. A CEO pays less in taxes than five years ago C. A company scales back production D. A company increases production as a result of growing demand"
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Answer:
C) A company scales back production
Explanation:
I got it right on the test
4. What data privacy or legal issues could result from employees' use of the Internet on their company's server? (2 points)
Answers
Explanation:
Data privacy issues:
risk of network compromiseallows easy monitoring of employees' internet activities.Legal issues:
bad employees could criminalize the organizationA risk of network compromise exists when employees use the Internet on their company's server because if an employee's credential is stollen, a bad actor could gain entry into the organization's system. Also, the company could intrude into the private information of employees using its network.
A bad employee could cause legal issues for the company by using the company's network to carry out illegal activities online which may be traced to the company.
Answer:
hi
Explanation:
Select a topic and develop a curriculum targeted to 6th-grade students. Provide an outline of the material and how it will be presented. Defend your reasoning for the mode of delivery that was selected. Write a 450 word response about the topic, curriculum, material outline, and presentation method.
Your response must:
contain 450 words in outline and paragraph form;
fully describe the topic and curriculum that you would present. You may access ideas for relevant topics by conducting an Internet search of your state’s 6th-grade standards in whichever subject that interests you; and
include a lesson outline that you would use to present the material;
explain why you chose particular presentation methods to teach the topic; and
explain how you would assess student understanding of the topic or learning objective.
Be original and avoid plagiarism. Be accurate and have correct spelling and grammar in your response.
Use details and information from the lesson as support.
Cite other research sources.
Submission Requirements:
Submit your response as a digital file to your teacher by the submission date specified.
Question # 1
Long Text (essay)
Select a topic and develop a curriculum targeted to 6th-grade students.
Provide an outline of the material and how it will be presented.
Defend your reasoning for the mode of delivery that was selected.
Submit a 450-word response about the topic, curriculum, material outline, and presentation method.
Answers
The curriculum covers language, arts, mathematics, science, and social studies. In language and arts, students build their composition and language skills by studying poetry, writing, and informational texts. As for mathematics, they'll gain a deeper understanding of the operations.
What is a curriculum?The curriculum is the lessons and academic content taught in a school or in a specific course.
To develop a curriculum one should follow the following steps;
1 Identify the purpose of the course.
2 Identify the students' needs.
3 Outline important topics and timeline.
4 Create a variety of categorizations for your lessons.
5 Determine materials and resources to be included in the curriculum.
6 Get feedback from various sources.
Therefore, You can develop a curriculum by these methods.
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B. Wright Industries Limited traditionally follows a highly aggressive working capital policy with no long-term borrowings. Below are key details recently compiled: Items $ (million) Sales (all on credit) 24 Purchases (all on credit) 8 Gross profit 6 Average receivables 3 Average inventory 2 Average accounts payables 2 The firm is also proposing to offer a 4/10, net /30 discount policy to reduce accounts receivables. Wrights anticipates 30% of its customers will take advantage of the discount. As a result of this discount policy, the collection period will be reduced to 1½ months. The company also provides the following data: Current annual credit sales 24 000 000 Collection period 2 months Terms net /30 Required rate of return 12% Determine: i. the firm’s working capital cycle, that is, cash conversion cycle. (4 marks) ii. whether the firm should offer the new discount policy to customers. (6 marks)
Answers
The firm's working capital or cash conversion cycle is 1.5 months.
The working capital cycle, also known as the cash conversion cycle, measures the time it takes for a company to convert its investments in inventory and accounts receivable into cash. It represents the time it takes to complete the entire cycle of purchasing merchandise, selling it on credit, and collecting customer money. To calculate the working capital cycle, we must determine the average collection period, inventory turnover period, and accounts payable turnover period. Given data: Collection period: 2 months, Terms: net/30 (30 days). Since the firm proposes a discount policy of 4/10, net/30, customers who pay within ten days will receive a 4% discount. This would encourage faster payments. Considering that 30% of customers are expected to take advantage of the discount, the collection period will be reduced to 1.5 months (or 45 days). The working capital cycle is calculated as the sum of the collection and inventory turnover periods minus the accounts payable turnover period. Since the versions expected turnover period is not given in the provided data, we cannot determine the complete working capital cycle.
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Food costs more in the inner city than it does in the more affluent suburbs. Do marketers have any responsibility to change the situation? If not, does the government have any responsibility, or should people be free to buy, sell, and eat whatever they want at whatever cost, with no interference from the outside?
Answers
Marketers have a responsibility to consider ethical practices and social implications when pricing food products.
However, their primary goal is maximizing profit, which can conflict with affordability.
The government plays a vital role in regulating and monitoring the food market to ensure fairness and equal access to necessities.
While consumers should have freedom of choice, government intervention is necessary in cases where food costs disproportionately affect inner-city residents, ensuring affordability and acce ssibility for all.
Ultimately, a balance between free market principles and government involvement is needed to address this issue.
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The picture is above, I’ll mark as brainliest
Answers
Answer:
c
i could not see the ful image until now srry
pls give brainliest i need for new rank
Explanation:
What is the maximum amount of work-related child and dependent care credit that may be claimed for 2022 by a taxpayer who has three qualifying persons?
Answers
The maximum amount of work-related expenses you can take into account for purposes of the credit is $16,000 if you have two or more qualifying persons. But if there is one qualifying person, the maximum amount will be $8,000.
The child and dependent care credit generally can be defined as a tax credit that may help you pay for the care of other dependents (qualifying persons) and also eligible children. The income and a percentage of expenses that you incur for the care of qualifying persons to enable you to attend school, go to work, and also look for work, is calculated to determined the child and dependent care credit.
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Write one paragraph about SOMETHING THAT CHALLENGED YOU AND MADE YOU STRONGER.
PIzz help meee
Answers
Answer:
yesssssssssssssssssssssssssssssssssssssssss
Explanation:
give me five stars
Answer:
its in above attachment
please answer with the correct choice
Because the Fed can easily provide too much or too little response to economic shocks, many economists advocate: Select one: a. policy rules. b. no response to any shock. C. a wait-and-see policy. d.
Answers
Many economists advocate for policy rules as a solution to the challenge of the Federal Reserve providing either too much or too little response to economic shocks.
Policy rules are specific guidelines or frameworks that outline predetermined actions or responses by central banks, such as the Federal Reserve, in response to economic shocks. These rules provide a systematic approach to monetary policy decision-making, aiming to minimize discretionary judgment and potential errors in response. By adhering to policy rules, central banks can promote stability, predictability, and transparency in their actions, reducing the likelihood of overreacting or underreacting to economic shocks. These rules can be based on various factors, including inflation targets, interest rate rules, or other macroeconomic indicators, and they help guide central banks in their efforts to maintain price stability and promote economic growth. Advocates for policy rules argue that they provide a more disciplined and consistent framework for monetary policy, reducing uncertainty and enhancing the effectiveness of central bank actions in managing economic fluctuations.
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Managing proactively instead of reactively is an example of which of the following?
Regrouping
A passive response
Better projection
Good macromanagement
Answers
Answer:
good macromanagement
Explanation:
Answer:
Good macromanagement
Explanation:
textbook
Hipster bicycles ordered 10,000 bicycle wheels from bicycle wheels incorporated (bwi) with delivery to be made on october 30. these wheels will be used by hipster to meet the bicycle demand for the upcoming holiday season. under which circumstance may hipster claim that bwi has made an anticipatory repudiation of the contract
Answers
BWI's sole manufacturing plant burned down on October 1, yet the CEO of BWI insists that the company will rebuild and honour the contract. Hence, option (C) will be regarded as the suitable choice of answer.
Give a brief account on contract.Contracts are frequently employed in business law and, for the most part, serve as the legal framework for international transactions. Contracts for the sale of products and services, carriage agreements, software licenses, employment agreements, insurance policies, and property sales or leases are a few examples that are frequently used. A clause that is a "part of a contract" is regarded as a contractual term. Each clause creates a legal responsibility, the breach of which may result in legal action. Not all conditions are specifically specified, and terms have varying degrees of legal significance depending on how essential they are to the contract's goals. A future contract or agreement between the parties may, in the majority of countries, change the provisions controlling the parties' duties to one another. The Principles of International Commercial Contracts' Article 3.1.2, which states that "a contract is concluded, changed, or canceled by the sole agreement of the parties, without any more necessity," reflects this.
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The complete question is attached below :
Ilus
What are the gross sales?
Income Statement
For the Year Ended August 31, 2012
Revenues
Student Lessons
$29,520.00
Recital Sales
15,900.00
Total Revenues:
45,420.00
Expenses
Costumes and Accessories
Building Maintenance
Total Expenses:
16,700.00
11,320.00
28,020.00
*Call numbers in 000s)
Answers
The gross sales are the total amount of revenue earned before deducting any expenses. In this case, the gross sales are $45,420.00, which is the total of the revenues earned from student lessons and recital sales.
Gross sales are the total amount of revenue generated from the sale of goods or services before any deductions are made for discounts, returns, or allowances. It represents the overall performance of a business and is an important metric for measuring growth and profitability. Gross sales are usually reported on the income statement, along with the cost of goods sold and other expenses, to calculate net income or loss.
Therefore, the gross sales are $45,420.00, which is the total of the revenues earned from student lessons and recital sales.
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what do you dislike the most out of the following below?
a. chemistry
b. biology
c. psychics
genuinely curious, let me know!
Answers
Answer:
hate chemestry
hate physics
but like biology
but never study all the three
Whether risk is present in employment
Answers
Answer:
Step by step explanation
What are three elements of negligence?
Actual Harm
Breach of duty
State of mind
Duty of care
Proximate cause
Motive
Answers
Answer:
actual harm
breach of duty
duty to act
Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.
Which questions should she consider before she buys the jacket? Check all that apply.
Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Will her sister like the jacket too?
Answers
Answer: Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Explanation:
The questions that she should consider before she buys the jacket include:
• Is advertising influencing her?
• What are her motivations?
• Has she compared prices?
• Is she buying at the right time?
Before buying the jacket, the question "Will her sister like the jacket too?" shouldn't be considered as she is looking to satisfy her own needs and not that if her sister and in this case, he sister shouldn't have an impact on her buying decision.
Answer:
A, B, C, D
Explanation:
edge2021
Josh runs a kayak rental company in Florida keys. his career would fall under the education and training career cluster true or false.
Answers
Answer:
The answer is False
F your consumption increases from $30,000/yr to $40,000/yr when your disposable income increases from $84,000 to $96,500/yr, calculate your mpc
Answers
In this case, the MPC is 0.8. Hence, the person will probably spend 80 cents of every dollar of new discretionary income and save the remaining 20 cents.
In this scenario, we are given two sets of data: the change in consumption from $30,000/yr to $40,000/yr, and the change in disposable income from $84,000 to $96,500/yr. We can use this information to calculate the MPC as follows:
MPC = Change in Consumption / Change in Disposable Income
MPC = ($40,000/yr - $30,000/yr) / ($96,500/yr - $84,000/yr)
MPC = ($40,000/yr - $30,000/yr) / ($96,500/yr - $84,000/yr)MPC = $10,000/yr / $12,500/yr
MPC = ($40,000/yr - $30,000/yr) / ($96,500/yr - $84,000/yr)MPC = $10,000/yr / $12,500/yrMPC = 0.8
Therefore, the MPC in this scenario is 0.8, meaning that for every additional dollar of disposable income, the individual will spend 80 cents on consumption.
It is important to note that the MPC is not a fixed number and can vary based on a variety of factors, such as income level, savings habits, and economic conditions. A higher MPC can lead to increased consumer spending and overall economic growth, while a lower MPC can indicate a tendency towards saving and can limit economic expansion. Understanding the MPC is crucial for policymakers and economists in analyzing the effects of fiscal policy and predicting economic outcomes.
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Rylee runs a factory that makes DVD players. Each S100 takes 6 ounces of plastic and 4 ounces of metal. Each G150 requires 2 ounces of plastic and 8 ounces of metal. The factory has 172 ounces of plastic, 368 ounces of metal available, with a maximum of 20 S100 that can be built each week. If each S100 generates $13 in profit, and each G150 generates $1, how many of each of the DVD players should Rylee have the factory make each week to make the most profit? S100: G150: Best profit:
Answers
To maximize profit, Rylee's factory should produce 20 S100 DVD players each week. This combination ensures the optimal utilization of available resources and accounts for the profitability of each DVD player model. By producing 20 S100 DVD players, the factory can generate the highest profit of $260.
Considering the resource constraints and profitability, producing 20 S100 DVD players yields the highest profit. The plastic and metal constraints limit the number of S100 and G150 DVD players that can be manufactured. With 172 ounces of plastic available, only 28 S100 DVD players can be made, while with 368 ounces of metal, up to 92 S100 DVD players are possible. However, the production constraint of 20 S100 DVD players per week further limits the optimal choice. Comparing the profitability, where each S100 generates $13 in profit and each G150 generates $1, it becomes clear that focusing on S100 DVD players maximizes the overall profit. Therefore, producing 20 S100 DVD players per week results in the best profit of $260.
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.Marketing as a field of study originally broke off from which academic discipline?Industrial engineeringOrganizational behaviorAgricultural economicsEngineering technology
Answers
Marketing as a field of study originally broke off from the discipline of Agricultural economics.
In the early 20th century, marketing was primarily seen as a part of economics and business administration. However, as the discipline evolved and focused more on consumer behavior, distribution channels, and market research, it began to differentiate itself from the broader field of economics.
The emergence of agricultural economics as a separate academic discipline was instrumental in the development of marketing as a distinct field of study. Agricultural economists recognized the importance of understanding market dynamics, consumer demand, pricing, and distribution within the context of agricultural products.
Over time, marketing expanded beyond agricultural products and encompassed a wide range of industries and consumer goods. It became recognized as a separate field of study with its own theories, frameworks, and methodologies. Today, marketing is considered an interdisciplinary field that draws from economics, psychology, sociology, and other social sciences to understand and influence consumer behavior and create value in the marketplace.
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A skill is a learned or practiced ability to perform an activity well.
True
False
Answers
Answer:
true
Explanation:
Write the names of sender and receiver of quotation letter in foreign trade.
Answers
Answer:
Wydm
Explanation: