Answer:
$110,000
Explanation:
Calculation for How much was stockholders' equity at the end of the year
Beginning balance of stockholders' equity $40,000
Add net income $90,000
Less the dividends paid ($20,000)
Ending stockholders' equity $110,000
Therefore How much was stockholders' equity at the end of the year is $110,000
Answer: 25,200 pounds
Explanation:
Your question is incomplete as it lacked the first part. I attached a completion that I found.
The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs.
This means that in August, the Opening inventory will be 30% of what was is needed in August and the Closing Inventory will be 30% of what is needed in September.
Remember that each cushion requires 2 pounds of foam as stuffing.
Pounds required in August
= 12,000 cushions * 2
= 24,000 pounds
Opening Stock
= 30% * (12,000 * 2)
= 7,200 pounds
Closing stock
= 30% * ( 14,000 * 2)
= 8,400 pounds.
Foam needed to be purchased in August = Pounds required tonbe produced + Closing Stock - Opening Stock
= 24,000 + 8,400 - 7,200
= 25,200
25,200 pounds of foam are what The Porch Cushion Company needs to purchase in August.
Answer:
Comparative Advantage: A country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower in that country as compared to the other country.
For determining comparative advantage, countries compare their good's opportunity cost with the other country's goods opportunity cost.
Answer:
$17,600 ; $29,000
Explanation:
The computation of the net income is shown below:
Based on Cash basis
= Received cash - Expenses incurred in cash - prepaid expenses
= $56,000 - $26,900 - $11,500
= $17,600
Based on Accrual basis
= Revenue earned - expenses incurred
= $64,000 - $35,000
= $29,000
The cash expenses incurred is
= $35,000 - $8,100
= $26,900