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Kryger [21]
3 years ago
6

Stone Pine Corporation, a calendar year taxpayer, has ending inventory of $160,000 on December 31, 2018. During the year, the co

rporation purchased additional inventory of $415,000. If cost of goods sold for 2018 is $470,000, what was the beginning inventory at January 1, 2018?
Business
1 answer:
bezimeni [28]3 years ago
3 0

Answer:

The answer is $215,000

Explanation:

Cost of goods sold equal:

Opening/beginning inventory plus purchases minus closing/ending inventory

To find beginning inventory at January 1, 2018, lets rearrange the formula:

Cost of goods sold minus plus purchases plus closing/ending inventory.

Cost of sales is $470,000

Purchases is $415,000

Ending inventory is $160,000

Therefore, beginning inventory at January 1, 2018 is

$470,000 - $415,000 + $160,000

=$215,000

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Part E14 is used by M Corporation to make one of its products. A total of 22,000 units of this part are produced and used every
murzikaleks [220]

Answer:

(29,800)

Explanation:

The computation of the financial advantage or disadvantage is shown below:

As we know that

Financial disadvantage = Cost of making - Cost of buying

where,

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= [($4.7 + $9.30 + $9.80 + $5.20) × 22,000 units] + $34,000

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6 0
3 years ago
On the worksheet, the Service Revenue account has a credit balance of $20,000 on the Unadjusted Trial Balance. In the Adjustment
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Answer:

$22,000

Explanation:

Data provided

Credit balance = $20,000

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The Amount for service revenue = Credit balance + Credit amount

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3 years ago
Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous hi
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Explanation:

Answer:

Explanation:

6 0
3 years ago
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The manager can invest in an additional project that would require $40,000 investment in additional assets and would generate $6
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Answer:

d. If the manager invests in the additional project, residual income of the division will increase.

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Consider the attached information.

7 0
4 years ago
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