Financial position also known as a Balance Sheet represents the Assets, Liabilities and Equity of a business at a point in time. Assets include cash, stock, property, plant or equipment - anything the business owns.
Answer:
$16,950
Explanation:
The computation of the shrinkage that occurred during the month is shown below:
Balance inventory = Beginning Inventory + Inventory purchased - Inventory sold
= $526,000+ $59,200 - $40,250
= $544,950
Now the shrinkage inventory is
= Balance inventory - Physical count of inventory shows
= $544,950 - $528,000
= $16,950
Answer[:]
It is basically the side of a rectangle, and the adjacent side extended outward. There are pictures below.
[:] DustinBR [:]
Answer:
The net income amount is $101250
The income statement is made in the explanation part.
Explanation:
<u>Income Statement</u>
$ $
Sales 950000
Less:COGS <u>(400000)</u>
Gross profit 550000
<u>Less:Expenses</u>
Selling &Marketing expenses 160000
General & Admin expenses 200000
Depreciation <u>30000 </u> <u>(390000)</u>
Operating Profit 160000
less: Interest expense <u>(25000)</u>
Earnings before tax 135000
less: Tax (at 25%) <u>(33750)</u>
Net Income <u>101250</u>
