Which of the following management styles is generally best used in a crisis situation?

Jackson Co. began the year with $20,000 in inventory. During the year, the company purchased $80,000 worth of inventory. At the

Irina-Kira [14]

Answer:

The total cost of goods sold = $70,000

Explanation:

Given:

Initial inventory at the start of the year for Jackson Co. = $20,000

Total cost of purchases made during the year = $80,000

Inventory remaining at the end of the year = $30,000

Solution:

Total inventory for Jackson Co. during the year = $\$20,000+\$80000= \$100,000$

Inventory remaining at the end of the year = $30,000

The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.

Thus, cost of goods sold can be given as :

⇒ $\$100,000-\$30,000$

⇒ $\$70,000$

The total cost of goods sold = $70,000

8 0

3 years ago

Sandhill Co. sells office equipment on July 31, 2022, for $22,430 cash. The office equipment originally cost $77,870 and as of J

ioda

Answer:

(a)

July 31, 2022

Dr. Depreciation Expense $4,580

Cr. Accumulated Depreciation $4,580

(b)

Dr. Cash $22,430

Dr. Accumulated Depreciation $41,410

Dr. Loss on Sale of asset $14,030

Cr. Cost $77,870

Explanation:

Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.

July 31, 2022

Accumulated Depreciation = $36,830 + $4,580 = $41,410

Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.

5 0

4 years ago

What should I include in my short biography when applying for volunteering?

Jet001 [13]

Answer:

You should include why they should choose you and your good qualities

3 0

3 years ago

Holly would like to plan for her daughter's college education. She would like for her daughter, who was born today, to attend co

dusya [7]

Answer:

Holly saved $3,362.76 at the end of each year.

Explanation:

Solution

Given that:

We solve for the computation of Tuition Fees given as:

First Year tuition fees will be $13,000 with inflation at 7% for 18 years.

That is, $13,000 * (1.07)^18 = $13,000 * 3.38 = $43,940

Now,

For the remaining three years we have the following given below:

College Year 1= $43,940

College Year 2 = $47,015.80, $43,940 * 1.07

College Year 3 = $50,306.91, $47,015.80 * 1.07

College Year 4 = $53,828.39, $50,306.91 * 1.07

Thus,

The Present Value of the college fees at the beginning of college at 10% is given as follows:

Year PVF at 10% College Fees Present Value

1 0.91 $43,940.00 $39,985.40

2 0.83 $47,015.80 $39,023.11

3 0.75 $50,306.91 $37,730.18

4 0.68 $53,828.39 $36,603.31

TOTAL : $153,342.00

Thus,

Holly should have accumulated $153,342 till beginning of her daughter's college.

Let us recall the accumulation factor for annual annuity is given as:

(1 + .10)^18 - 1/. 10

=45.60

Therefore, the Annual Investment should be $153,342 / 45.60

= $3,362.76

6 0

3 years ago

Which body has the primary responsibility for the establishment of generally accepted accounting principles?.

erica [24]

Answer: The Financial Accounting Standards Board (FASB)

Explanation: The Financial Accounting Standards Board (FASB) is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles.

7 0

2 years ago