Every tangible product is made up of what? (Select the best answer.)

A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per un

harina [27]

Answer:

Cost of goods sold= $133

Explanation:

Giving the following information:

A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5, the company sold 12 units. The 12 units sold consisted of 7 units from the August 3rd purchase and 5 units from the August 1st beginning inventory.

Cost of goods sold= 7*14 + 5*7= $133

7 0

3 years ago

Tre-Bien Bakeries generated net income of $233,412 this year. At year end, the company had accounts receivables of $47,199, inve

Aleonysh [2.5K]

Answer:

Option B- $63510 is the correct option.

Explanation:

Remember that:

Net Working Capital = Current Assets - Current Liabilities

Current assets includes receivables, cash and inventory, and current liabilities include accounts payable, short term notes payable and accrued taxes.

Putting value of current assets and current liabilities, we have:

Net Working Capital = ($47,199+$63,781+$21,461) - ($51,369+$11,417+$6145)

Net Working Capital = $132,441 - $68931 = $63,510

So the option B is the correct option.

7 0

3 years ago

The amount by which government expenditures exceed revenues during a particular year is the?

guajiro [1.7K]

Answer: Budget Deficit

Explanation:

8 0

1 year ago

Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer account balance when it becom

julia-pushkina [17]

Answer:

A. not affect expenses in 2019.

Explanation:

Using the allowance method, when the amount is written off , the account receivable account is credited whereas the allowance for doubtful debts is debited

Moreover, it does not affect the income statement as there is no expenses incurred or no revenue earned is recorded

So, in this case, there is no affect on expenses account

8 0

3 years ago

Peterson Manufacturing recently reported EBITDA of $18.75 million and $4.5 million of net income. It has $5 million of interest

quester [9]

Answer:

Peterson Manufacturing

Its depreciation and amortization expense (in millions of dollars) was:

= $6.25 million

Explanation:

a) Data and Calculations:

EBITDA = $18.75 million

Depreciation and amortization expense = $6.25 million

Earnings before Interest = $12.50 million

Interest expense = $5.00 million

Earnings before taxes = $7.50 million

Corporate taxes (40%) = $3.00 million

Net Income = $4.50 million

Earnings before taxes = Net income/1-tax rate

= $4.5 million/60% = $7.5 million

Corporate taxes = 40% of $7.5 million = $3.0 million

Earnings before interest = Interest expense plus earnings before taxes (earnings after interest)

= $5 million + $7.5 million = $12.5 million

Therefore, Depreciation and amortization expense = EBITDA - Earnings before Interest

= $18.75 million - $12.5 million

= $6.25 million

b) EBITDA = Earnings before Interest, Taxes, and Depreciation and Amortization.

5 0

3 years ago