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OverLord2011 [107]
3 years ago
15

Sampson Company's accounting records show the following at the year ending on December 31, 2010: Purchase Discounts $ 5,600 Frei

ght - in 7,800 Purchases 200,010 Beginning Inventory 23,500 Ending Inventory 28,800 Purchase Returns 6,400 Using the periodic system, the cost of goods purchased is A. $180,210. B. $204,210. C. $208,610. D. $195,810.
Business
1 answer:
Ivahew [28]3 years ago
7 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Purchase Discounts $ 5,600 Freight - in 7,800 Purchases 200,010 Beginning Inventory 23,500 Ending Inventory 28,800 Purchase Returns 6,400 Using the periodic system

Purchased= 200,010 + 7,800 - 5,600 - 6,400= $195,810

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Answer:

The correct answer is letter "A": both the value of a good to society and the cost to society of making the good.

Explanation:

Price is the monetary value of a good or service that consumers are willing to pay and producers are willing to accept. <em>For companies, it represents the production costs of the good plus the unitary revenue they expect to obtain. For consumers, it is the value they provide to the good offered according to the type of need the good is destined to fulfill.</em>

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3 years ago
Stock Company has 2,000 units in beginning work in process inventory, 20% complete as to conversion costs, 23,000 units transfer
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Answer:

B. 26,000, 24,000.

Explanation:

Stock Company

Equivalent units

Particulars                 Units       % of Completion           Equivalent Units

                                                   Mat. Conversion          Mat.  Conversion

Transferred Out      23000         100         100           23000      23000

<u>Ending WIP              3000            100       331/3%       3000        999.9= 1000</u>

<u>Total Equivalent units                                                  26000        24000</u>

<u />

The Equivalent units can be calculated either by adding the units transferred out and ending WIP or by adding beginning WIP and units started.

Equivalent units for materials 26000

and Equivalent units for conversion are: 24000

3 0
3 years ago
On June 1, Parson Assoc. sold equipment to Arleo and agreed to accept a 3-month, $68,000, 10% interest-bearing note in payment a
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The interest revenue on note receivable that will be recognized at maturity is $1700.

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