Answer:
$1,200
Explanation:
Calculation to determine what the amount of ending inventory appearing on the balance sheet will be:
First step is to determine the units in ending inventory
Units in ending inventory=500 units + 600 units – 800 units sold
Units in ending inventory= 300
Now let determine the Ending inventory
Ending inventory=300 units x $4.00
Ending inventory = $1,200
Therefore the amount of ending inventory appearing on the balance sheet will be:$1,200
Answer:
the standard price per gallon is $5.25
Explanation:
the computation of the standard price per gallon is given below;
Materials Price Variance = Actual Quantity × (Standard Price - Actual Price)
$90,000 = 40,000 × (Standard Price - $3)
$2.25 = Standard Price - $3
Standard Price = $5.25
Hence, the standard price per gallon is $5.25
The same should be considered
Answer:
Debit Supplies $8,900; Credit Cash $8,900
Explanation:
Based on the information given the general journal entries that Specter Consulting will make to record this transaction assuming the companyâs policy is to initially record prepaid and unearned items in balance sheet accounts will be :
Debit Supplies $8,900
Credit Cash $8,900
e. of course it is a good goal; it meets all of the criteria discussed
This goal meets all the criteria for a SMART goal.
Explain why the cash flow statement prepared using the indirect method does not explicitly report cash outflows during the period of purchases and salaries. and do not report spills.
In most cases, cash flow and net income statements differ due to the time lag between recorded sales and actual payments. The situation is controlled when the billing customer pays cash in the next period.
The main advantage of the indirect cash flow method is that it provides a net income and cash flow adjustment. The indirect method also helps financial statement users to better understand the various relationships between financial statements and is an easy way to prepare cash flow statements.
Which of the following statements is correct when using the indirect method to prepare the cash flow statement? Income from the sale of equipment is added to the net income of the operations section. Losses on land sales are added to the operating section's net income.
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