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tigry1 [53]
3 years ago
14

Astoria Co. had the following transactions during the month of August 2014: * Cash received from bank loans was $20,000. * Divid

ends of $9,500 were paid to stockholders in cash. * Revenues earned and received in cash amounted to $33,500. * Expenses incurred and paid were $26,000. Refer to the information above. At the beginning of August, 2014, owners' equity in Astoria was $160,000. Given the transactions of August, what will be the owners' equity be at the end of the month
Business
1 answer:
Fynjy0 [20]3 years ago
6 0

Answer: $158,000

Explanation:

Equity = Opening equity + Net Income - Dividends

Net Income = Revenue - expenses

= 33,500 - 26,000

= $7,500

Equity = 160,000 + 7,500 - 9,500

= $158,000

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Answer:

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Explanation:

The cost of goods manufactured is calculated by using following formula:

The cost of goods manufactured = Finished goods inventory, December 31 + Cost of goods sold - Finished goods inventory, January 1.

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The cost of goods manufactured = $3,300 + $7,600 - $2,500  = $8,400

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3 years ago
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katen-ka-za [31]
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Cost-reimbursable contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

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To learn more about cost-reimbursable here:

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