Answer:
A
Explanation:
There is a sequence of preparing statements of financial statements because some statements use information from other statements of financial position. The income statement does not require information from any other statements. The retained earnings need information from income statement to calculate current retained earnings. The balance sheets require information from statement of retained earnings(retained earnings for this period).
Answer:
3w
4n-3
10.641
Explanation:
3w
n+3n-3, 4n-3 (distribute your 3 through the paranthasis)
4.871+7.4= 12.271
12.271-1.63= 10.641
I'm lost on your last three,
what are the periods for, and is the third to last one a comma or decimal
Answer: B. $65,000
Explanation:
The options to the question are:
A. $15,000
B. $65,000
C. $150,000
D. $200,000
It should be noted that the corporate liquidations of property are typically treated as either an exchange or a sale and the profit or the loss made will be recognized by the corporation usually based on the liquidating sale of the assets of the corporation.
In certain cases whereby the distributee that is, the individual who is entitled to partake in the share of an estate distribution is a corporation that is in charge of the distributing corporation, this may lead to the distribution not to be taxable.
Due to this, Alvo has a basis of $65,000. The reason is that the land was not sold and therefore Alvo did not get $200,000.
Answer:
Cost of goods sold is $7,700
Gross Profit is $2,300
Explanation:
Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)
Cost of goods sold will be 10,000 - 2,300 = $7,700
Gross profit is sales revenue less cost of goods sold which is computed as shown below:
Gross profit = 10,000 - 7,700
= $2,300
Answer:
Ending inventory= $494
Explanation:
Giving the following information:
On January 26, the company sells 350 units. 150 units remain in ending inventory on January 31.
January 1: 320 units for $3.00
January 9: 80 units for $3.20
January 25: 100 units for $3.34
Ending inventory= 100*3.34 + 50*3.2= $494
