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Mila [183]
3 years ago
6

Sandpiper Company reported the following year-end amounts: Beginning Inventory $22,950 Net Cost of Purchases 101,250 Ending Inve

ntory ? Cost of Goods Sold 93,150
Business
1 answer:
Andrej [43]3 years ago
8 0

Answer:

Closing Inventory = $31050

Explanation:

The cost of goods sold is the cost of the inventory that the business sells during a period of time. The cost of goods sold is calculated as follows,

Cost of Goods Sold = Opening Inventory + Purchases - Closing Inventory

As we already have the values for Opening inventory, net cost of purchases and the cost of goods sold, we can input these values in the above formula to calculate the cost of closing inventory.

93150 = 22950 + 101250 - Closing Inventory

93150 = 124200 - Closing Inventory

Closing Inventory = 124200 - 93150

Closing Inventory = $31050

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When the auditors express an opinion on financial statements their responsibilities extend to:
Westkost [7]

When the auditors express an opinion on financial statements their responsibilities extend to : Whether the results of their client's operating decisions are fairly presented in the financial statements.

Explanation:

An auditor is a person or corporation assigned to conduct an audit by a client. To order to be an auditor, a person should have a credential or relevant credentials of the regulatory authority for accounting and auditing.

The auditor is someone who reviews financial records and checks them. They ensure consistency of financial records and correct payment of taxes. We monitor financial activities to ensure that companies operate efficiently.

A statement that somehow the auditor is liable for expressing an opinion on the audit's financial statements. Examining details of the sums and reports in the financial statements on a test basis; evaluating the accounting standards used and relevant management estimates;

4 0
3 years ago
In your own words, describe how to optimize a function given a set of constraints
Anni [7]
One method on optimizing a function is by finding the absolute extrema. It is done by having the optimal values continuous including the including the endpoints. I hope my answer has come to your help. God bless and have a nice day ahead!<span>
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3 0
3 years ago
Statement: "Whenever a company’s activities reduce the quality of life for nearby homeowners, the company should be legally requ
olganol [36]

Answer:

2) assumption not made

Explanation:

The original statement does not include any assumption about what the companies are doing about this issue, it just proposes an idea of fair compensation.

maybe whoever wrote this statement believes that very few companies or none at all actually compensate homeowners for a reduction in the market value of their properties, but it doesn't state it. It is also possible that the statement assumes that companies are paying some compensations or were paying some compensations but are not willing to continue to do it since no legislation forces them to do so. The author's position is vague and not clear with respect to what the companies are currently doing.

4 0
3 years ago
Ayayai Corp. sells merchandise on account for $2100 to Marigold Company with credit terms of 2/9, n/30. Marigold Company returns
Lisa [10]

Based on the fact that Marigold Company returned some merchandise and paid within the discount period, the check amount would be <u>$1,960.</u>

<h3>What would be the check amount?</h3>

The credit terms 2/9, n/30 mean that if Marigold Company pays their balance in 9 days, they get a 2% discount.

The amount they will pay for settling their debt in that time is therefore:

= (Amount - Returns ) x ( 1 - discount)

= (2,100 - 100) x ( 1 - 2%)

= $1,960

Find out more on discount periods at brainly.com/question/2192821.

4 0
2 years ago
A government worker surveys a number of households and comes up with the following information: there were a total of 90 people
viktelen [127]

Answer:

27%

Explanation:

Number of Persons in the Household = 90

<u>Neither Employed Nor Unemployed</u>

  • Children Under 16 =10
  • Disabled = 5
  • Retired =10
  • Stay at Home Parents = 5
  • Full Time Students over the age of 16= 5

Total =35

<u>Unemployed</u>

  • 10 people had no job but were looking for jobs
  • 5 people who wanted a job but were not looking for a job.
  • Total =15

<u>Employed</u>

  • 35 people had full-time jobs
  • 5 had part-time jobs

Total =35+5=40

Total Labour Force = Unemployed +Employed = 40+15 =55

Unemployment Rate = (Unemployed People / Total Labor) x 100

=15/55 X 100

=27%

According to the information in the survey, the unemployment rate is: 27%

6 0
3 years ago
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