1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
How manny people went to collage, and wish they hadn't? (This year.) (Average)
Anna007 [38]
Around 22 % this year alone.

8 0
3 years ago
Read 2 more answers
Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
Fudgin [204]

Answer:

The amount of Uncollectible Account Expense reported on the income statement will​ be: $ 64,800

Explanation:

Jumpin Corporation

Percent of Sales method

Net credit sales  $ 2 100  000​,

Un collectible estimated 3​%

Un collectibles Accounts = 3% of  $ 2 100,000​, = $ 63,000

Unadjusted Allowance for Un collectible Accounts  $ 1, 800 Dr.

Required Adjustment =                                 $ 64,800

The amount of Un collectible Account Expense reported on the income statement will​ be: $ 64,800

In the percent of sales method emphasis is laid on the matching principle in the income statement and amount of bad debts expense is subtracted from the accounts receivables.

5 0
3 years ago
list 4 stages of development impacting the airline industry and briefly describe how each has impacted the future direction of t
PolarNik [594]

The 4 stages of development that impacted the Airline Industry are:-

1. <u>Regulation</u>: Strict government control of fares, routes, and entry into markets Regulation resulted from tight ownership control of fares, limited competition on chosen routes, a small market served, a low frequency of city connections, high fares, government bailouts for air carriers, and incentives to increase airline profitability

2. <u>Liberalization</u>: reducing governmental control, increasing bilateral agreements, expanding into new markets, diversifying into new goods, and specialising in specialised markets.

3. <u>Deregulation</u> results in less airfare, improved service, and no government regulation of the market.

4. <u>Re-regulation</u>: Prevent predatory pricing by regulating prices; prohibiting strikes under the Railway Labor Act; updating the air traffic control system to reduce delays; and encouraging development, consolidation, and concentration.

To Learn more about Airline Industry, Click the links.

brainly.com/question/14923148

brainly.com/question/14989240

#SPJ4

6 0
2 years ago
What is total amount spent on wages and salary before any tax is being taken? [those ernings above £40000 are paying 40% income
vodka [1.7K]

Answer: hello your question is open ended hence I will give you a more general answer

answer : $12,000 * number of workers  or $24,000 * number of workers

Explanation:

Income taxes are taxes been levied directly on the  income earned by the tax payer.

According to Tax rules there is a certain amount of income an individual would have to earned before any tax will be taken, incomes below $12,000  are tax free ( for singles ) and $24,000 for married individuals ; Hence the Total amount spent on wages and salary before tax is being taken = $12,000 * number of workers or $24,000 * number of workers . ( unless otherwise stated )

3 0
3 years ago
True or false: Control involves developing goals and preparing various budgets to achieve those goals. True false question. True
kramer

True or false: Control involves developing goals and preparing various budgets to achieve those goals. True false question.  <u>False</u>

<h3>What is goal?</h3>

A goal is a vision for the future or a desired outcome that an individual or group of individuals commits to envisioning, planning, and achieving. By creating deadlines, people attempt to accomplish goals within a certain amount of time.

A goal is akin to a purpose or aim, the anticipated outcome that directs behavior, or an end, which is a thing, whether it be a tangible thing or an abstract thing, that has inherent value.

To learn more about goal from the given:

brainly.com/question/1512442\

#SPJ4

8 0
1 year ago
Other questions:
  • Hoi Chong Transport, Ltd. Operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven
    9·1 answer
  • Which of the following conditions ensures that excess profits cannot persist in a perfectly competitive market over the long run
    11·1 answer
  • The amount borrowed when taking out a loan
    15·1 answer
  • On February 1, 2020, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on Januar
    10·1 answer
  • Economies of scale a. require inputs' MPP to fall as output increases (everything else equal). b. pertain to the long run only.
    9·1 answer
  • The ledger of Mai Company includes the following accounts with normal balances: Common Stock, $10,200; Dividends, $1,400; Servic
    14·1 answer
  • In early 2018 businesses bought more inventory, increasing GDP. What would happen
    7·1 answer
  • Old Quartz Gold Mining Company is expected to pay a dividend of $8 in the coming year. Dividends are expected to decline at the
    12·1 answer
  • Knowledge capital is nonrival in the sense that Select one: a. firms do not compete to be the first to develop new technologies.
    7·1 answer
  • in the long run, the representative firm in monopolistic competition tends to have multiple choice excess capacity. economic pro
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!