Answer:
1. Dividends = Dividends, it decreases stockholder's equity.
2. Rent Revenue = Revenue, it increases stockholder's equity
3. Advertising Expense = Expense, it decreases stockholder's equity
4. Stockholder's pay cash into business = Issuance of stock, increases stockholder's equity.
Explanation:
Notes to above:
1. Dividends are paid from current year income or from retained earnings, as both current year earnings and retained earnings are clubbed into equity thus, with payment of dividend, equity is decreased.
2. Rent revenue is a part of income and income is part of equity as with increase in income there is increase in equity also.
3. Advertising expense will decrease the income and with decrease in income there will be decrease in equity.
4. Stockholder's pay cash into business as for issuance of stock and with issue of stock equity will increase.
Explanation:
The value refers to the worth of each digit depending on where it lies in the number. We calculate it by multiplying the place value and face value of the digit. Value=Place Value × Face Value. For instance: If we consider a number 45.
Answer:
Bell inc should report $980,000 as the total amount of inventory at the end of the year.
Explanation:
Given information -
Inventory that were on hands - $830,000
Inventory that was in transit - $60,000
Inventory that was out on consignment - $90,000
Here for taking out the total inventory all of the given above items would be added .
Inventory that was in transit would be added because these f.o.b. goods would be considered transferred from seller to buyer as soon as they are shipped, so it doesn't matter if they're received two days after the inventory count , they will be added.
Goods which are sent on consignment would also be added because goods would remain in the name of consignor ( Bell inc ) until they're sold by consignee ( an agent who has been hired by Bell inc to sell its goods )
Inventory at end of year - $830,000 + $60,000 + $90,000
= $980,000
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