A. Arrive early.
Explanation:
Dependable: Trustworthy and reliable.
B. Arriving with snacks doesn’t get you anywhere.
C. Arriving late isn’t even up for debate.
D. A day off is a day off for a reason, go home pal.
Answer:
$300
Explanation:
When insurance is paid in advance, the entries required are
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
Credit Prepaid Insurance
Amount of insurance expense as at 31 December (6 months between 1 July and 31 December)
= 6/12 * $600
= $300
The insurance expense on the annual income statement for the first year ended December 31 is $300.
Answer:
c. $524,000 and $250,000
Explanation:
See the attached picture for detailed explanation.
Net sales for the Boron Company were $60,000, with $7,000 in beginning inventory, $35,000 in purchasing, and $5,000 in ending inventory. $37,000 is the cost of the sold goods.
Cost of Goods Sold is calculated as Beginning Inventory minus Purchases minus Ending Inventory.
$7000+$35000-$5000=$37000
The direct costs of producing the products that a business sells are referred to as its cost of goods sold (COGS). The cost of the labor and materials directly employed to make the good are also included in this sum. It doesn't include indirect expenditures like those associated with the sales staff and distribution. As a company's gross profit is calculated by subtracting COGS from its revenues, COGS is a crucial financial statement statistic.
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