Answer:
The correct answer is D.
Explanation:
Giving the following information:
Beginning Finished Goods Inventory $19,500
Ending Finished Goods Inventory$18,000
Cost of Goods Manufactured $126,800
To calculate the cost of goods sold we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 19,500 + 126,800 - 18,000= $128,300
Answer:
c) classified balance sheet.
Explanation:
A classified balance sheet can be described as a balance sheet in which the information about assets, liabilities, and shareholders' equity of a company is presented by aggregating or classifying it into subcategories of accounts.
The advantage of a classified balance sheet is that it easier to read and it makes it easier for readers to obtain required information than when the information is just presented in a large number of line items.
The classifications mostly used within a classified balance sheet include Intangible assets, fixed assets (or Property, Plant, and Equipment), current assets, current liabilities, long-term liabilities, and shareholders' equity.
In accounting, the addition of these classifications is required to match the accounting equation stated as follows:
Total assets = Total liabilities + Shareholders' Equity
Answer: Description, Date, and Amount.
Answer:
A. a goods trade deficit
Explanation:
The current account represent the trade balance (export less import) plus
the net income (person receiving interest, rent or wages from aboard less person and companies paying foreingers) and
the direct payment. ( remittances from wroker to US)
As the US is one of the most open-economies in the world the mayority of this deficit comes from import of good and services from aboard.
Another factor, is that US company invest around the world thus, the net income should be positive.
And becuase the US economy is strong as opposite of Mexico or other Latin America countries, the average US employee abroard will not send their wages to support his family.
Thus, we should ensure the deficit comes from a negative trade deficit.
