Answer:
There is financial consequence to not maintaining an accurate asset register. Every business should know at any given time where their assets are and in what condition they are in. The tracking of assets can prevent theft and loss and the maintenance of assets can extend the life of the asset. There are major tax benefits to any business tracking their assets correctly. In most cases it is a statutory requirement to have an asset register.
Explanation:
Cost of goods sold = Beginning inventory + Purchases - Ending inventory .
COGS = Cost of goods sold
COGS = 7700 + 22700 - 9700 = 20700
The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold.
The cost of products sold may take into account both the labor and materials used to create a product. Your COGS may also include sales expenses, such as commissions, that are unique to that product. Direct costs is the accounting term for this.
A cost that is not entirely committed to a particular item is one that is common to your company, such as rent, the purchase of a new machine, or general marketing expenses. These extra expenses are classified as overhead rather than as the cost of the items supplied.
For business owners and managers, tracking cost of products sold is crucial. That is the lowest price at which you can sell a good and still make a profit. Any surplus margin is used to pay for costs and eventually turn a profit. You cannot determine if you are profitable or not unless you are aware of your COGS and break-even point.
Learn more about cost of goods sold here
brainly.com/question/17205761
#SPJ4
Answer:
The Adjusted Balance Method Calculation.
Explanation:
The adjustment balance method for calculating credits uses the previous balance from the end of the last credit or billing cycle excluding any payments and billings made during the current billing cycle.
It gives a grace period on new expenditures and if payment are made for the new credits before the last day, there will be no billing charges.
Answer:
d. His net pay will increase by $22.61.
Explanation:
The more "allowances" you claim on your W-4 the more you get in your take-home pay.
So he definitely will have an increase effect of $22.61 if Luis has a biweekly gross pay of $770 and increases the number of claims from 2 to 3 federal withholding allowances.
