Answer:
Solution Provided
Explanation:
Equipment Purchased = $20,600
Residual Value= 2600
useful life = 5years
Dep Straight line Method = <u>Cost- Residual Value</u>
useful life
Dep= <u>20,600-2600</u>
5
Dep=$ 3600
<u> Cash Account </u>
Debit Credit
Salaries 30,900
Utilities 17,600
Sales 231,000
<u>Bal C/D 182,500</u>
231,000 231,000
<u> Accounts Receivable </u>
Debit Credit
Due 4100
Uncollectable
(50%x 4100) 2050
uncollectable
(3%x 2050) 61.5
<u>Bal C/d 1988.5</u>
4100 4100
<u> Accrued Income </u>
Debit Credit
unpaid salaries 33700
Income Tax 10,100
<u>Bal C/d 43,800 </u>
43,800 43,800
<u> Equipment Account </u>
Debit Credit
Purchase 20,600
<u> Depreciation Account </u>
Debit Credit
DEp Charge 3600
Answer:
18 units
Explanation:
The computation of the economic order quantity is shown below:
=
=
= 18 units
At 18 units of order size, the total cost would minimize.
It is that level at which the total carrying cost and the total ordering cost is equal.
Total cost = Purchase cost + ordering cost + carrying cost
It is a combination of purchase cost, ordering cost and the carrying cost
Answer:
Option E Sales
Explanation:
The reason is that the expenses can always be expressed as a percentage of sales rather than expressing it as a percentage of total assets or balance sheet items. This is because many company has millions of dollars investment in plant and equipment but they don't have any profits for the year this means that the sales is more relevant to the expenses than the balance sheet items.
Depot Max's inventory turnover for the year is 8.3
Given
Cost of goods sold = $56900
Begining Jovenstory = $6540
Ending Inventory = $7250 .
Average inventory = opening inventory + closing inventory / 2
= $6 540 + $-7250 / 2
Average inventory = $6895
cost of goods old
.: Inventory turnover = cost of goods sold / Average inventory
56900 / 6895
= 8. 252 times
He Depot Max's Inventory 8.3 times (approx ).
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