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Firdavs [7]
3 years ago
15

A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods ma

nufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is:
Business
1 answer:
lapo4ka [179]3 years ago
5 0

Answer:

The cost of goods sold for this company is$29,300

Explanation:

Cost of Goods sold is the cost of all the goods that is sold during the period excluding the cost of available Inventory.

Cost of Goods Manufactured is the cost of all the goods that is manufactured during the period including the cost of available Inventory.

As per given data

Beginning finished goods inventory = $14,600

Cost of goods manufactured = $32,500

Ending finished goods inventory = $17,800

Cost of Goods Sold = Cost of Goods Manufactured + Beginning finished goods inventory - Ending finished goods inventory

Cost of Goods Sold = $32,500 + $14,600 - $17,800 = $29,300

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Suppose that you won a lawsuit and were awarded a series of payments of $10,000 a year for 10 years. Assuming an interest rate o
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At the beginning of Year 1, a company reported a balance in common stock of $164,000 and a balance in retained earnings of $64,0
blagie [28]

Answer:

Explanation:

The preparation of the statement of stockholder equity and balance sheet is presented below:

a. Statement of stockholder equity

<u>Particulars            Common stock         Retained earnings      Total stock equity</u>

Beg balance        $150000                   $50,000                      $200,000

Add: Addi shares  $40,000                                                       $40,000

Add: Net income                                    $30,000                     $30,000

Less: dividend                                         -$10000                     -$10000

Total                     $190,000                 $70,000                    $260,000

b. Balance sheet

Assets                          Amount                    

Cash                               $52,600                  

Supplies                         $13,400                

Prepaid rent                   $24,000                    

Land                               $200,000    

Total assets                   $290,000          

Liabilities       Amount

Account payable $9,100

Un-earned revenue $2,400

Salaries payable $3,500

Notes payable      $15,000

 Stockholder equity $260,000

Total liabilities & stockholder equity $290,000

6 0
3 years ago
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