Answer:
$59.00.
Explanation:
Because it is perpetual method we will check the inventory available at the moment of each sale.
<u />
<u>First sale:</u>
Inventory Available Jan 1st 10 units at $4
sales 6 units COGS $4 = 24
<u>Second Sale:</u>
Inventory Available Jan 1st 4 units at $4 $16
Jan 17th 8 units at $5.5 $44
Total 12 untis at $60 = 60/12 = $5 per unit
sales 7 units COGS $5 = 35
Total COGS 35 + 24 = 59
Answer: Save back for if something urgent happens. Put saving in one account and seperate that from your weekly paychecks because saving and paychecks need to be divided apart so you can live on your weekly income and take a little bit out of the main income and put it in the savings due to inflation it is becoming harder to do such a thing
Explanation: Great!
The mission statement<span> should guide the actions of an organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated". It is like a goal for what a company wants to do for the world.</span>
Answer:
Explanation:
The closing entry of the income summary account is shown below:
Income summary A/c Dr $81,300
To Retained Earning A/c $81,300
((Being the difference is credited to retained earning))
The retained earning balance is calculated by taking a difference between:
= Annual revenues - Expenditure
= $185,000 - $103,700
= $81,300
The income summary should always be closed after closing of revenue and expenditure account.
