Answer:
a. $37,500
Explanation:
The formula for cost of goods sold is
Cost of goods sold = Opening stock + Purchases - Closing stock
Here, we were given the value of purchases only, which is $37,500
Therefore, cost of goods sold would be
= 500 grills purchased × cost of $75 each
Cost of goods sold = $37,500
Answer:
The overview of that same problem is defined throughout the explanation segment below.
Explanation:
- My understanding would be that privately owned businesses will happily inform anyone who queries.
- Publicly traded companies are identified by the mark as well as the worker's everyone seems to be testing their price of the stock-to decide according to one's interest in share capital.
But things are going to change, the FED had already lost together with all remaining remains of knowledge that convince one where the worth of someone's inventory since they have lost Market Exploration.
Answer:
I have attached an Excel Sheet that identifies all the events that need to be accounted for. If you have any queries regarding the Journal Entries, please free to ask me that.
B) The Balance of Accounts Receivable at Year End is $3,000.
Explanation:
Hardy Merchandising Company made Sales of $27,000 on account, out of which $24,000 were collected during the year. So, at the year end the Balance Sheet will show a figure of $3,000 for Accounts Receivable.
Thank You!