Answer:
$1,470,000
Explanation:
As we know that
Cost of goods sold = Opening inventory + Purchase - ending inventory
where,
Opening inventory would be
= $495,000 - $170,000
= $325,000
So, the purchase would be
$1,300,000 = $325,000 + Purchase - $495,000
$1,300,000 = -$170,000 + Purchase
So, the purchase would be
= $1,300,000 + $170,000
= $1,470,000
This is the answer but the same is not provided in the given options
Answer:
The correct answer is (B) False.
Explanation:
Variable costs, as the name implies, differ with the level of production and are associated with the use of variable factors, such as labor and raw materials. Since the amounts of factors increase as production increases, variable costs increase when it does.
Answer:
The total amount of dividends paid over these three years: $8000
Explanation:
- Net income (loss) in three years
$7,100, ($1,600), and $3,600
=> the total net income is the first three years of operation is:
$7,100 - ($1,600) + $3,600
= $9,100
This money is not kept in the Retained Earnings because it is used for dividend payment. But Earnings balance at the end of year three is $1,100, so the total amount of dividends paid over these three years:
= Total net incomes - Retained Earnings
= $9,100 - $1,100,
= $8000
Hope it will find you well.
Answer:
Sole Proprietorship
Explanation:
Charles is planning to start a sole proprietorship business. It is the most common form of business ownership.
This is the form of business owned, managed and operated by a single individual. Here, there is no distinction between the business and the owner. The owner of the business will have total control of all the profits incurred in the business and solely be responsible for all losses incurred as well.
