Answer:
c) $20,000.
Explanation:
The computation of the estimated ending inventory is shown below:
We know that
Cost of goods sold = Beginning inventory + purchase made - ending inventory
And, the
Sales - gross profit = Cost of goods sold
$100,000 - $100,000 × 30% = Cost of goods sold
So, cost of goods sold would be
= $100,000 - $30,000
= $70,000
Now the ending inventory would be
$70,000 = $18,000 + $72,000 - ending inventory
$70,000 = $90,000 - ending inventory
So, the ending inventory would be
= $90,000 - $70,000
= $20,000
Answer:
$36,020.40
Explanation:
The computation of cash balance is shown below:-
Excess of cash receipts over disbursement = Beginning cash balance + Cash receipts - Cash disbursement
= $64,500 + $1,302,200 - $1,310,000
= $1,366,700 - $1,310,000
= $56,700
Interest = X × 0.02
Cash balance at end = Excess of cash receipts over disbursement + Borrowing - Interest
$92,000 = $56,700 + X - 0.02x
$92,000 - $56,700 = 0.98x
X = $35,300 ÷ 0.98
= $36,020.40
Answer:
Bell inc should report $980,000 as the total amount of inventory at the end of the year.
Explanation:
Given information -
Inventory that were on hands - $830,000
Inventory that was in transit - $60,000
Inventory that was out on consignment - $90,000
Here for taking out the total inventory all of the given above items would be added .
Inventory that was in transit would be added because these f.o.b. goods would be considered transferred from seller to buyer as soon as they are shipped, so it doesn't matter if they're received two days after the inventory count , they will be added.
Goods which are sent on consignment would also be added because goods would remain in the name of consignor ( Bell inc ) until they're sold by consignee ( an agent who has been hired by Bell inc to sell its goods )
Inventory at end of year - $830,000 + $60,000 + $90,000
= $980,000
Answer:
Which factor can boost business opportunities in Virginia?
Re-branding
Well packaged advertorials
discount sales
promo sales
improve content quality
price reduction
Explanation:
Answer:
$60,000
Explanation:
Double declining method is a depreciation method used to expense the cost of an asset.
Depreciation expense using the double declining method = Depreciation factor × cost of asset
Deprecation factor = 2 (1/useful life) = 2(1/8) = 1/4
Depreciation expense in 2016 = 0.25 × $320,000 = $80,000
Net book value = $320,000, - $80,000 = $240,000
Deprecation expense in 2017 = 0.25 x $240,000 = $60,000
I hope my answer helps you