Answer:
$60000
Explanation:
Given: Sales = $300000.
Cost of goods available for sale= $270000.
The gross profit ratio= 30%
First finding the gross profit out of total sales.
Gross profit= 
Gross profit= 
∴ Cost of goods sold= 
Cost of goods sold= 
Cost of goods sold= 
Hence, cost of goods sold=
Now, finding estimated cost of the ending inventory.
Cost of ending inventory= 
⇒ Cost of ending inventory= 
∴ Cost of ending inventory= 
Hence, estimated cost of the ending inventory under the gross profit method would be $60000.
Answer:
D.) All the temporary accounts
Explanation:
The closing entry process closes or "zeroes out" the temporary accounts and transfer their balances to the retained earnings account.
Theses temporary accounts are closed or reset at the end of every year. Companies also call this as the closing of the books.
Temporary accounts includes:
1. Revenue & Gain Accounts
2. Expenses & Losses Accounts
3. Dividends & Withdrawal Accounts
4. Income Summary accounts (if used)
Answer:
Please Kindly check the attach picture, the full working is there.
Explanation:
Answer:
Option D (The optimal........capital) would be the right choice.
Explanation:
- The optimal composition of capital would be the one with the lowest average capital structure.
- Such alternatives are meaningless since the optimal capital structure is not reflected by them. Maximizing earnings growth, interest burdens, or equity burdens would not enhance the worth including its shareholder.
