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3 years ago

The balance sheet of a business summarizes an entity's revenues and expenses. true or false

Business

1 answer:

Sveta_85 [38]3 years ago

3 0

The answer is true because a balance sheet is basically a sheet of paper with the transactions and what not of money.

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A company had been selling its product for $20 per unit, but recently lowered the selling price to $15 per unit. The company's c

sammy [17]

Answer:

$2,600

Explanation:

As we know that the inventory should be recorded at a cost or market value which ever is lower

In the given case,

The cost is

= 200 units ×$16 per unit

= $3,200

And, the market value is

= 200 units × $13 per unit

= $2,600

So as we can see that the lower value is $2,600 and the same is to be reported on the balance sheet

6 0

3 years ago

Describe how you will pay for your schooling. Provide information on applying for

dimulka [17.4K]

You can only be eligible for OSAP if you don't have enough money from other sources to cover your college or university expenses. The income that you report to OSAP generally needs to match what you reported to the Canada Revenue Agency (CRA) when you filed your taxes.

5 0

2 years ago

Developing and using a budget is part of the "obtaining" component of financial planning. true false

Nikolay [14]

Ok not sure but I'm gonna have to go with true. You can research online to make sure.

8 0

3 years ago

An automotive part manufacturer can produce at a rate of 5000 units per day. It supplies the parts to a local Auto assembly plan

Zanzabum

Answer:

Optimal production run= 816 units per run

Explanation:

T<em>he optimal production run is the economic batch units that minimizes the balance of set-up cost and holding cost. It can be determined by adjusting the economic order quantity (EOQ) model for gradual replenishment ,</em>

EBQ = √(2× Co× D)/Ch(1-D/R)

EBQ- Economic /optimal production run

Co- set-up cost per run

Ch- holding cost per unit per annum

D- Annual Supply- 9800× 280

Production rate per day-5000

Optimal production run =

√(2×50× 800×280)/(40×(1-800/5000))

=816.4965809

Optimal production run= 816 units per run

7 0

3 years ago

The accounting records of Bramble Corp. show the following data. Beginning inventory 2,830 units at $8 Purchases 8,110 units at

djyliett [7]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Beginning inventory 2,830 units at $8

Purchases 8,110 units at $10

Sales 9,418 units at $13

Average cost= (8 + 10)/2=9

FIFO (first-in, first-out)

COGS= 2,830*8 + 6,588*10= $88,520

LIFO (last-in, first-out)

COGS= 8,110*10 + 1,308*8= $91,564

Average cost method:

COGS= 9,418*9= $84,762

7 0

3 years ago

The balance sheet of a business summarizes an​ entity's revenues and expenses. true or false

The balance sheet of a business summarizes an entity's revenues and expenses. true or false