Debit Income Summary and credit Dividends for $25,000.
Answer: Option 5.
<u>Explanation:</u>
The balancing account of the company or an organisation is where the entries of the company are made and recorded so that at then end of the year the financial position of the company becomes clear to the stake holders of the company.
It is a double entry book keeping record where single entry is made on two sides of the book, the debit side and the credit side. This makes the book in balance for every entry. Entry on the debit and the credit side is made with the same amount to maintain the balance.
The answer is right, if not are there choices
The technology associated with the manufacturing computers has advanced tremendously. This change has led to the price of a computer <u>falling</u> and the quantity <u>increasing</u>.
Lower prices most likely results in a higher demand for the product in question, which will increase the production rate of that product.
Answer:
See below
Explanation
1. Value of inventory sold
= $280 million in inventory + COGS $23,100 million
= $303,100 million
2. Cost of goods sold
From the above passage, we have been given the COGS , which is $23,100 million
3. Compute inventory turns
= Cost of goods sold / Average stock
= $23,100 million / $151,550
=
Answer:
$122,963
Explanation:
NU furniture have a sales of $241,000
The depreciation is $32,200
The interest expense is $35,700
The costs is $103,400
The tax is $14,637
Therefore, the operating cash flow for the year can be calculated as follows
= Sales-costs-taxes.
= $241,000-$103,400-$14,637
= $122,963
Hence the operating cash flow for the year is $122,963
