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egoroff_w [7]
3 years ago
11

The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:Beginn

ing Finished Goods Inventory $19,500Ending Finished Goods Inventory$18,000Cost of Goods Manufactured $126,800A. $126,800.B. $125,300.C. $146,300.D. $128,300.E. $164,300.
Business
1 answer:
ANTONII [103]3 years ago
6 0

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Beginning Finished Goods Inventory $19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured $126,800

To calculate the cost of goods sold we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 19,500 + 126,800 - 18,000= $128,300

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Answer:

Identification of Type of Account, etc.:

Letter  Account

2.         Sales & Services  

6.    Allowance to for Doubtful Accounts  - 6. (Asset), Credit, Balance Sheet, No

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Notes Payable

8.    Cash  - Asset, Debit, Balance Sheet, No

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Explanation:

NB: Notes Payable are Liabilities, Credit, Balance Sheet, No.

The normal balance of Assets is debit.  Assets are stated in the balance sheet and are not closed at the end of the period.  The normal balance of Liabilities and Equity is credit.  Liabilities and Equity are stated in the balance sheet and are not closed at the end of the period.  The normal balance of Revenue or Gain is credit.  Revenue or Gain is stated in the Income Statement and is closed at the end of the period.  The normal balance of Expense or Loss is debit.  Expense or loss is closed at the end of the period.

8 0
3 years ago
Greg is compiling a survey on consumer preferences. In order to achieve the most accurate snapshot of their likes and dislikes,
erik [133]

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The method of data collection used in this case is known as Questionnaire.

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In conclusion, It is false that the allocation of approximately 20 minutes to answer the questionnaire will allow to achieve the most accurate snapshot of their likes and dislikes on the consumer preferences survey.

Read more about Respondent:

<em>brainly.com/question/18151532:</em>

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8 0
2 years ago
Jeff is a manager at a paper mill. he has received a grievance from a group of employees who are union members. the grievance cl
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6 0
3 years ago
Cost of merchandise sold reported on the income statement was $155,000. The accounts payable balance increased $8,000, and the i
RideAnS [48]

Answer:

Cash paid 168,000

Explanation:

Assuming that there were no inventory at start of the year

purchases during the year :

Sold                                                     = 155

Closing inventory                              = 21

Total purchase (155+21)                    = 176

Cash paid for merchandise = total purchase - increase in liability

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4 0
3 years ago
Suppose that Robin withdrawals $100 of cash from her checking account at Trendy Bank and uses it to buy a camera from Adam, who
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Answer:

The alternative including its query is presented throughout the explanation section below.

Explanation:

(a)

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= 100-0.10\times 100

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