Answer:
the cost of goods sold is $21,000
Explanation:
Cost of Goods Sold is equal to Opening Stock <em>add</em> Purchases <em>less </em>Closing Stock.
<u>Calculation of Monte Vista cost of goods sold is as follows :</u>
Opening inventory $60,000
<em>Add Purchases</em>
Purchases $15,800
<u>Less </u>Returns Outwards ( $1,400)
<u>Less</u> Suppliers` Discounts ( $400)
Total Purchases $14,000
Available for Sale $74,000
<em>Less Closing Stock </em>
Closing Inventory ($53,000)
Cost of goods sold $21,000
Answer:
The question requirement relates to the amount of revenue to be recognized in year 2019 and 2020 respectively.
2019 Revenue is $66,667
2020 Revenue $13,333
Explanation:
The total price of $80,000 is split into $60,000 which is standalone price of the software and the balance relates of $20,000($80,000-$60,000) relates to technical support.
It is important to note that the selling price of software of $60,000 is due for recognition as revenue, while technical support fee of $20000 should be recognized on a progress basis,for each month the technical support has been rendered.
2019 Revenue
Software $60,000
Technical support($20000*2/6) $6,667
Total $66,667
2020 Revenue
($80,000-$66,667) $13,333
Answer:
a. $22,500
Explanation:
The computation of the depreciation expense using the straight line method is shown below:
= (Original cost - salvage value) ÷ (useful life)
= ($750,000 - $75,000) ÷ (10 years)
= ($675,000) ÷ (10 years)
= $67,500
In this method, the depreciation is same for all the rest of the useful life
Now for 4 months, it would be
= $67,500 × 4 months ÷ 12 months
= $22,500
The four months is calculated from January 1 to May 1
6. A job is the work you do and a profession includes your career field.
7. to state why you are applying for the job and what you can offer the company
8. to state a summary of your education and experience that's relevant to the job you're applying for
9. to state a career goal and the type of position you're looking for and the qualifying skills you have
10. Short-term
11. Contributions are not taxed until the employee retires.
12. Experience levels of jobs and job locations
13. Employment agencies
14. Remove individual grades of courses
15.A college resume focuses on academics, while a job resume focuses on employable skills.
16.Do research to learn about the company
17. to list those things related to the job you're applying for
18.job objective should be listed at the end of the resume
Answer:
a. The journal entry for recording the purchase of the new carpet would be as follows:
April 30 Debit Credit
Carpet $18,000
Cash $18,000
b. The journal entry would be as follows:
December 31 Debit Credit
Depreciation expense - carpet $800
Accumulated depreciation- carpet $800
Explanation:
a. The journal entry for recording the purchase of the new carpet would be as follows:
April 30 Debit Credit
Carpet $18,000
Cash $18,000
b. According to the given data, the carpet is estimated to have a 15-year useful life and no residual value, therefore the December 31 adjusting entry for the partial-year depreciation expense for the carpet would be to debit Depreciation expense - carpet for $800 and to credit Accumulated depreciation- carpet for $800.
The journal entry would be as follows:
December 31 Debit Credit
Depreciation expense - carpet $800
Accumulated depreciation- carpet $800