Answer:
$96,000
Explanation:
Particulars Amount
Opening inventory on 1st Jan $80,000
ADD: Purchases made $400,000
LESS: Cost of good sold <u>$384,000</u>
Closing inventory <u>$96,000</u>
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<u>Workings</u>
Sales 480,000
Less: Mark up 480000*25/125 <u>96,000</u>
Cost of goods sold <u>$384,000</u>
Answer:
a.asset
b.stockholders' equity
c.expense
d.expense
e.asset
f.asset
g.asset
h.asset
i.revenue
j.liability
k.revenue
l.expense
Explanation:
Assets are economic resources arising from past events, that result in the flow of economic benefits in the future.
Liabilities are present obligation of an entity arising from past event, that result in the outflow of economic benefits.
Revenues and Incomes are increases in Assets and decreases in liabilities.
Expenses are decreases in Assets and increases in liabilities
Equity is the residue that results after deducting liabilities from assets.
Answer:
Closing balance $110000
Explanation:
The computation of the cash balance at the end of the first year is shown below:
Funds raised from owners $20000
Less: Funds borrowed $20,000
Collection from debtors $180,000 ($200,000 - $20,000
)
Less: Payment for merchandise $45000
Salaries paid $15000
Interest paid $2000
Insurance policy paid $6000
Income tax at 40% $42000
Closing balance $110000
Working note:
Calculation of tax paid
Sales 200000
Less: purchases 75000
salary 15000
interest 2000
insurance(50% of 6000) 3000
Income 105000
Tax at 40% 42000
Answer:
The correct answer is b. output divided by the change in labor.
Explanation:
The marginal product means the additional units of production that are added to the total production when the labor is increased by 1 unit and is a measure of production efficiency.
I would assume inside of an office building with cubicles.