The inventory ledger contains the data regarding the amount of each type of merchandise a company has. To add up, the inventory ledger is the record in which its main function is to "track inventory transactions." It is important that the contents of the inventory ledger should coincide with the general ledger.
Answer:
Stockholders Equity
Preferred Stock 375,000
Common Stock 562,500
Additional Paid-in Capital 81,900
Retained Earnings <u> 306,000 </u>
Total Equity 1,325,400
Explanation:
We look into the list only for the equity accounts:
Which are the preferred stock, the common stock
and the additional paid-in caital.
We will also include the retained earnings account
All this accounts increase the equity, so we ujust need to add them together.
Answer:
The total revenue needed to break even is $206.90 per day
Explanation:
The break even point of revenue is the total revenue earned by the firm where total revenue equals total cost and there is no profit or no loss. The break even in dollars can be calculated using the following formula,
Break even in dollars = Fixed cost / Contribution margin ratio
Contribution margin ratio = (Selling price per unit - variable cost per unit) / Selling price per unit
Contribution margin ratio = (40 - 11) / 40 = 0.725 or 72.50%
The fixed cost per day is the cost of the vending space of $150.
Break even in dollars = 150 / 0.725 = $206.896 rounded off to $206.90
The correct answer is true.
The United States issues savings bonds, which is equivalent to loaning them money. Savings bonds are a very safe investment for the investors and gives the United States cash flow.
Answer: False
Explanation:
The statement in the question that a classified income statement has four major sections which are the operating revenues, cost of goods sold, operating expenses, and non-operating revenues and accounts receivables is not true.
It should be noted that a classified income statement is made up of the revenue, the expenses and the non operating revenues and expenses.
