Capital for a month on a balance sheet:
The net working capital formula is calculated by subtracting the current liabilities from the current assets. Here is what the basic equation looks like. Typical current assets that are included in the net working capital calculation are cash, accounts receivable, inventory, and short-term investments.
Answer:
required purchase 83,500
Explanation:
The cost of inventory in july sales and our desired ending invenory is the amount we need. the beginning inventory is a portion of this demand already fullfil, we need to purchase for the difference.
cost of inventory sales for July:
70,000 x (1 - 45%) = 38,500
desired ending inventory 105,000
beginning inventory <u> (60,000) </u>
required purchase 83,500
Answer:
$7,000 is the amount of revenue in year 1
Explanation:
The amount received from the customer is $24,000,which is payment for work to be performed over 24-month period i.e 2 years
In year 1,the work would be performed from June -December,hence 7-month worth of revenue should be recognized in year 1 as follows
revenue recognition in year=$24,000*7/24=$7,000
The amount of revenue attributable to year 1 on the income statement is $7,000
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