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3 years ago

The June 30, 2021, year-end trial balance for Askew company contained the following information:

Business

1 answer:

lutik1710 [3]3 years ago

3 0

Answer:

The answer is:

A. $239,000

June 30

Dr Cost of goods sold. $239,000

Closing Inventory $40,600

Purchase returns $10,600

Purchase discounts $ 6,600

Cr Opening Inventory. $ 32,600

Purchase $247,000

Freight-in $18,200

Explanation:

Net purchase is

Purchases. $246,000

Minus: Purchase discounts $6,600

Minus:Purchase returns $10,600

Plus: Freight-in $18,200

Net purchase. $247,000

Cost of sales:

Opening Inventory $32,600

Plus: Purchases. $247,000

Minus: closing Inventory. $40,600

Cost of sales. $239,000

June 30

Dr Cost of goods sold. $239,000

Closing Inventory $40,600

Purchase returns $10,600

Purchase discounts $ 6,600

Cr Opening Inventory. $ 32,600

Purchase $247,000

Freight-in $18,200

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See Below

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3 years ago

Which of the following types of loans is the most common instrument used to finance the acquisition of existing commercial prope

adoni [48]

Answer:

Explanation:

Fixed-rate balloon mortgage loans is a type of loans and a common instrument used to finance the acquisition of existing commercial property.

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4 years ago

Enterprise systems have a set of integrated software modules and a(n) _______________ by which business processes and functiona

Afina-wow [57]

Answer:

"Central database" and "Share"

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3 years ago

and Associates reported the following amounts on its 2018 income statement: Year Ended December 31, 2018Net income$60,500Income

Olin [163]

Answer:

15.52 times

Explanation:

The formula to compute the times interest earned ratio is shown below:

Times interest earned ratio = (Earnings before interest and taxes) ÷ (Interest expense)

where,

Earnings before interest and taxes would be

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= $60,500 + $12,100 + $5,000

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Now put these values to the above formula

So, the ratio would equal to

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3 years ago

People in the U.S. state of Iowa eat both corn and potatoes. It is technically possible for farmers to grow both corn and potato

boyakko [2]

Answer:

A. Trade can make everyone better off.

Explanation:

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I hope my answer helps you.

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