Answer:
The correct answer is 10.9 times.
Explanation:
According to the scenario, computation of the given data are as follow:-
Average account receivable = (Opening account receivable + Closing accounts receivable) ÷ 2
= ($92,000 + $26,000) ÷ 2
= $118,000 ÷ 2
= $59,000
We can calculate the account receivable turnover by using following formula :-
Accounts receivable turnover = Net sales ÷ Average Account receivable
= $643,100 ÷ $59,000
= 10.9 times
Answer= The entry to record this transaction would include:
A debit to Organization Expenses for $5,000.
A credit to common stock for $4,000 and Paid in capital in excess of par-Common Stock of $1,000
Explanation:
Common stock = 400 x $10= $4000
Accounts Debit Credit
Organisation expense $5,000
Common stock $4,000
Paid in capital in excess of par value
of common stock $1,000
( $5000 - $4000)
Answer:
c) $463,000
Explanation:
<u> Goodsell Corporation </u>
<u>FIFO Method </u>
<u></u>
Current Costs
Costs Added $ 427,000
<u>Add Beginning Work in Process Inventory $36,000</u>
<u>Total Current Cost $ 463,000</u>
Cost Transferred Out $ 428,000
<u> Add Ending Work in Process Inventory $35,000</u>
<u>Total Current Cost $ 463,000</u>
FIFO assigns the current period costs to the inventories. Current period costs are obtained by adding the costs transferred out and ending inventories costs or beginning costs and costs added.
I do not believe this is business related, but, the answer to your question is:
<em>False.</em>
Based on the purchase price of the equipment and the increase in annual income, the accounting rate of return is 60%.
<h3 /><h3>What is the accounting rate of return?</h3>
This can be found by the formula:
= Average annual income - Average investment
The average investment is:
= Purchase price / 2
= 25,000 / 2
= $12,500
The accounting rate of return is:
= 7,500 / 12,500
= 60%
Find out more on the accounting rate of return at brainly.com/question/21276152.
#SPJ4