Answer:
assets reduced by $59,000
Explanation:
To solve the problem we use the accounting formula.
Asset= Total liabilities + owner's equity
Since we are dealing with change in asset, liability, and equity
Change in asset = change in liability + change in owner's equity
Change in asset= -69,000 + 10,000
Change in asset= - 59,000
This implies that the company's assets reduced by $59,000
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales in units:
January= 3,000
February= 2,000
March= 2,500
April= 2,700
May= 2,900
The required ending inventory is 20% of the next month's sales, and the beginning inventory on January 1 was 600 units.
The production budget for each month is calculated using the following formula:
Production= sales + desired ending inventory - beginning inventory
Production budget:
January:
Sales= 3,000
Ending inventory= (2,000*0.2)= 400
Beginning inventory= (600)
Total= 2,800
February:
Sales= 2,000
Ending inventory= (2,500*0.2)= 500
Beginning inventory= (400)
Total= 2,100
March:
Sales= 2,500
Ending inventory= (2,700*0.2)= 540
Beginning inventory= (500)
Total= 2,540
April:
Sales= 2,700
Ending inventory= (2,900*0.2)= 580
Beginning inventory= (540)
Total= 2,740
Answer: The answer is e. $264,000 of net cash provided.
Explanation:
Marjorie Company
Statement of cash flows
Purchase of equipment ($260,000)
Proceeds from sale of equipment 87,000
Purchase of land (91,000)
Net cash flows from investing activities $264,000
<span>The term money is used to describe anything that is regularly used in economic transactions or exchanges.
</span><span>When money is used to express the value of goods and services, it is functioning as a unit of account.
</span><span>This is the primary function of money, to be used a unit by which value of a thing is accounted and compared.</span>
