What is the most likely reason why the author includes realistic elements in his description of the watchdog?

Identify the term for unsold goods, raw materials, Or work-in-progress that a company has.

ss7ja [257]

Answer:

Inventory

Explanation:

Inventory refers to

The finished products in the warehouse or store that is ready for sale.
Raw materials used in the production of goods
Goods that in the production process, also known as work in progress.

Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.

3 0

3 years ago

During May, Carolan Corporation transferred $59,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of

dem82 [27]

Answer:

credit to Work in Process of $59,000.

Explanation:

Based on the information given the appropriate l journal entries to record these transactions would include a: CREDIT TO WORK IN PROCESS OF $59,000

Dr Finished goods $59,000

Cr Work in process $59,000

Dr Cost of goods sold $65,000

Cr Finished goods $65,000

6 0

2 years ago

Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepa

Agata [3.3K]

Answer:

a-1. Total cash collection for the Quarter Ending March 31, 2022 = $336,000

a-2. Total cash payment for the Quarter Ending March 31, 2022 = $43,400

b-1. Account receivable balance = $68,000

b-2. Account payable balance = $7,200

Explanation:

Note: This question is not complete and contains different dates (2017 and 2022). The complete question is therefore provided and 2022 is picked as the date before answering the question. See the attached pdf file for the complete question with 2022 as the date.

The explanation of the answer is now given as follows:

a-1. Schedule of expected cash collections from clients.

Note: See part a-1 of the attached excel file for the Schedule of expected cash collections from clients.

From the attached excel file, we have:

Total cash collection for the Quarter Ending March 31, 2022 = $336,000

a-2. Schedule of expected payments for landscaping supplies.

Note: See part a-2 of the attached excel file for the Schedule of expected payments for landscaping supplies.

From the attached excel file, we have:

Total cash payment for the Quarter Ending March 31, 2022 = $43,400

b. Determine the following balances at March 31, 2022:

b-1. Accounts receivable

Account receivable balance = ($120,000*10%) + ($140,000*40%) = $68,000

b-2. Accounts payable

Account payable balance = $18,000*40% = $7,200

Download xlsx

xlsx

pdf

3 0

3 years ago

Bear Tracks, Inc., has current assets of $2,280, net fixed assets of $10,400, current liabilities of $1,405, and long-term debt

Vera_Pavlovna [14]

Answer: $7185

Explanation: Shareholders equity refers to the amount of funds that are collected by the company by selling their ownership rights in the market to the general investors.

As per the subject matter of accounts, every asset that is owned by an organisation is either financed by the available funds or some liability is taken to buy it. This could be illustrated as follows :-

assets = shareholders equity + liabilities

Putting the values into equation we get :-

$2280 + $ 10,400 = $1,405 + $4090 + shareholders equity

therefore :-

shareholders equity = $7185

6 0

3 years ago

Poland's Paints allocates overhead based on machine hours. Selected data for the most recent year follow.Estimated MOH $238,000A

Ulleksa [173]

Answer:

B.) $11.90

Explanation:

Predetermined manufacturing overhead rate are based on the estimates made by the company.

So the calculation should be:

Estimated MOH of $238,000 divided by Estimated Machine Hours of 20,000.

Giving us the result of $11.90

(238,000 / 20,000 = 11.90)

7 0

3 years ago