Answer and Explanation:
The Preparation of financial statement, Income statement, Balance sheet and Cash flow statement are explained with the help of spreadsheet. Kindly find the attachment which is below:-
According to the situation, Prentise agree to keep the damaged goods as Prentise can resell the damaged goods or can get goods at a lower cost.
Answer:
The correct solution is "$26,000".
Explanation:
The given values are:
Cost
= $1,750,000
Salvage value
= $150,000
First Year Extraction
= 6,500
Total Extraction
= 400,000
Now,
⇒ 
On putting the values, we get
⇒ = 
⇒ = 
⇒ = 
($)
Answer:
$91,070
Explanation:
The computation of the value of the ending work in process inventory is shown below:
Ending Work in process inventory = Beginning work in process inventory + transferred materials + labor cost + other manufacturing cost
where,
Beginning work in process inventory is $0
Transferred material amount
= $97,000 × 80%
= $77,600
Labor cost = $58,000 + $15,600 = $73,600
Other manufacturing cost = $109,000
So, the amount is
= $0 + $77,600 + $73,600 + $109,000
= $260,200
And, since 65% is completed so the remaining 35% is to be considered i.e
= $260,200 × 35%
= $91,070
Answer:
Rules and policies implemented in an organization need to be followed by all the employees. If any employee lacks compliance it could result in negative impact to business activities.
Explanation:
If an employee is hired as IT professional in the company, he is given rules and guidelines in his induction and orientation. These are to be followed by him in any case. If the new employee faces a situation in which some colleague ask him to give password to the restricted files he should immediately deny for doing so. If he gives the password the files can be altered and company data may be haccked.
Answer:
$3,900
Explanation:
The computation of the inventory purchase is shown below:
As we know that
Sales - gross profit = Cost of goods sold
$8,200 - $5,300 = Cost of goods sold
So, the cost of goods sold is $2,900
Now the cost of goods sold is
Cost of goods sold = Opening stock + purchase made - ending stock
$2,900 = $1,100 + purchase made - $2,100
$2,900 = -$1,000 + purchase made
So, the purchase made is
= $2,900 + $1,000
= $3,900
