Answer:
X = $190000
Explanation:
given data:
cost of manufactured goods =$260000
total manufacturing cost = $286000
process inventory in beginning = $164000
ending inventory process {X} is calculated as
cost of manufactured goods = - X +total manufacturing cost +process inventory in beginning
Putting all value to get required ending process inventory
$260000 = -X + $286000+$164000
X = $190000
Answer:
$60,000
Explanation:
Given that,
Accounts payable = $15,000
Buildings = 80,000
Cash = 10,500
Accounts receivable = 9,500
Salaries payable = 4,500
Retained earnings = 47,500
Supplies = 40,000
Notes payable (due in 18 months) = 35,000
Interest payable = 3,000
Common stock = 35,000
Amount of current assets:
= Cash + Accounts receivable + Supplies
= $10,500 + $9,500 + $40,000
= $60,000
Therefore, the amount of current assets is $60,000.
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The earnings in a cooperative are shared with member owners. The cooperative societies distribute the profits to its members based on the business transacted with the Cooperative society.
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