Answer: $2.75 profits per bag
Explanation:
9.3/37 in order to find how much it costs her per bag to make.
This equals approx .25 cents
Then subtract this from $3 in order to get how much profit per bag she makes.
That statement is false
Some of the database transaction could be recorded as soon as the transaction happen. Some companies may adopt different financial recording policy for their operation. It's not rare to see a company that will acknowledge transaction as soon as it happen so they could create a more accurate view about their company's financial position.
<span>Doc's ribhouse beginning equity = $52,000
Net income = $35,000
dividends by the company = $12,000
Ending equity = ?
we can calculate ending equity by using this formula:
</span><span>Beginning Equity + Net Income - Dividends = Ending Equity
</span><span>now by putting the values we get
$52,000 + $35,000 - $12000 = Ending equity
Ending equity = $52,000 + $23,000
= $75,000
so, $75,000 is the ending equity.
</span>
Answer:
a. To increase Land - Debit
b. To decrease Cash - Credit
c. To increase Fees Earned (Revenues) - Credit
d. To increase Office Expense - Debit
e. To decrease Unearned Revenue - Debit
f. To decrease Prepaid Rent - Credit
g. To increase Notes Payable - Credit
h. To decrease Accounts Receivable - Credit
i. To increase Common Stock - Credit
j. To increase Store Equipment - Debit
Explanation:
Debit gives details of spending, sum owed , amount to balance which is usually recorded to the left side of an account entry book while credit gives the details of income, amount earned or made on sale, spending cut and revenue and is usually placed to the right hand column of an account entry.
<span>To calculate the cost of goods sold we use the following formula:
beginning inventory + the cost of goods purchased or manufactured = cost of goods available ending inventory.
Since there was no beginning balance in inventory account and all goods were sold we can assume that cost of goods = total costs for the period.
Adding up all costs for the period comes to $173,000.</span>
