Answer:
It increased the depth of their product mix.
The depth of the product mix is basically how many different types of variations of the same product are offered, e.g. Coke, Diet Coke, Coke Zero, etc. Increasing product depth involves new flavors, different package sizes or other specific characteristics regarding the product.
Product width refers to the different types of products offered by the company, e.g. Toyota offers sedans, trucks, SUVs, minivans. In this case, product width is not affected.
The inventory indicates that the cost of goods sold will be $25000.
<h3>How to calculate the cost of goods sold</h3>
It should be noted that the cost of goods sold ic calculated through the formula:
= Opening inventory + Purchases - Closing inventory
= $10000 + $20000 - $5000
= $25000
Therefore, the cost of goods sold is $25000.
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Answer:
(d) $6,000
Explanation:
The computation of the total liabilities is shown below:
Total liabilities = Office equipment purchased - cash paid
= $10,000 - $4,000
= $6,000
The remaining amount would reflect the note payable which is come under the liabilities accounts which is shown in the balance sheet.
The other information which is given in the question is not related to the liabilities account. Hence, we ignored it.
Answer:
Prepare closing entries for Wildhorse Co. on December 31, 2017
Explanation:
Sales revenue 417.650
Sales discount 15.020
Cost of goods 224.679
Selling expense 16.320
Administrative expense 38.719
Income tax expense 30.480
sales return and allowance 11.914
retained earnings 104.346
Answer: a) $(11.3) million
b)$1,286.7million
c)$40.6 million
Explanation:This does not involve lengthy explanation.
(a) Other comprehensive income for 2017 =unrealized holding loss =available-for-sale securities during the year= $(11.3) million
(b) Comprehensive income for 2017= net income-unrealized holding loss =
$1,286.7million (1,298 - 11.3)
(c) Accumulated other comprehensive income = accumulated other comprehensive income -unrealized holding loss
$40.6 million (51.9 - 11.3)