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3 years ago

Production and sales estimates for June are as follows:

Business

1 answer:

anastassius [24]3 years ago

5 0

Answer:

Production= 13,000

Explanation:

Giving the following information:

Estimated inventory (units), June 1 18,500

Desired inventory (units), June 30 19,000

Expected sales volume (units):

Area X 3,000

Area Y 4,000

Area Z 5,500

Total= 12,500

To calculate the production for the period, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= 12,500 + 19,000 - 18,500

Production= 13,000

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Answer:

a) Assets increase by 35,000 (account receivable )

Equity increase by 35,000 (sales revenue)

b) no effect

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d) Assets decrease by 3500 (cash)

Equity decrease by 3500 (utilities expense)

Explanation:

Accounting Equation:

Assets = Liaiblities + Equity

Assets: things and right owned by the company and able to generate cash in the future

Liabilities: obligation to do or pay assumed by the company

Equity: contribution from owners and earnings/losses

a) Provide services to customers on account for $35,000.

As the company has the right to claim the invoince aginst his customers and is also earning a profit from this sale

b) Receive cash of $27,000 from customers in (a) above.

we are "trading" one assets (account receivable) for another (cash) As the amount collected decerase the amount owed by the customer the effect of income from cash and decrease in amount to collect balance.

c) Purchase bike equipment by signing a note with the bank for $20,000.

the new equipment is an asset, it wil lgenerate earnings in the future. While the promissory note is an obligation thus, liability.

d) Pay utilities of $3,500 for the current mont.

the utulities paid will not generate incoem in the future are cost incurred thus, expenses which decreases the earnings of the business.

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3 years ago

A(n) _____ is something a person wants to get out of a job or that brings them job satisfaction. a. personal value b. work value

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Answer:

It would most likely be be D. Interest

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Define the following:<br> 1. Allocation of resources<br> 2. Economic system<br> 3. Market economy

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2 years ago

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Answer and Explanation:

The journal entry is shown below:

1. Organization expense Dr $58,500

To cash $58,500

(Being organization expense is recorded)

Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance

2. No entry is required as the amortization is recorded for only intangible assets

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2 years ago

Fill in the blanks: The plan you present during the advise phase of your inbound sales strategy closes the gap between _______ a

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The plan you present during the advise phase of your inbound sales strategy closes the gap between where the prospect is now and where they want to be.

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3 years ago