What is the difference between a total and a subtotal?

The beginning capital balance shown on a statement of owner's equity is $100,000. Net income for the period is $50,000. The owne

Lelu [443]

Answer: $125,000

Explanation: In simple words, owner's equity refers to the funds that are contributed by the owners of the capital for effectively conduction the operations of the business.

Any profit that the organisation made during a year is treated as a return to the capital and is added to the initial capital while drawing from the capital results in decrease in the available fund for operations.

Hence the year end balance of the capital in given case is, $1000,000 + $50,000 - $25,000 = $ 125,000

4 0

3 years ago

Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly dem

Rashid [163]

Answer:

A) economic order quantity ( order quantity model that will minimize the total holding cost and ordering costs ) = $\sqrt{3*1500*77/23}$ = $\sqrt{15065.21739}$ = 122. 74 ≈ 122 ( optimal ordering quantity ) units

B) Annual holding cost = 23 * 122 / 2 = $1403

C ) Annual ordering costs = 1500/122 * 77 = $947

D ) The reorder point = daily demand * lead time = 50 * 3 = 150 units

Explanation:

Annual demand for connectors : 1500

ordering cost ( cost to place and process an order ) : $77

annual holding cost per unit : $23

A) economic order quantity ( order quantity model that will minimize the total holding cost and ordering costs ) = $\sqrt{3*1500*77/23}$ = $\sqrt{15065.21739}$ = 122. 74 ≈ 122 ( optimal ordering quantity ) units

B) Annual holding cost = 23 * 122/2 = $1403

C ) Annual ordering costs = 1500 / 122 * 77 = $946.72 ≈ $947

D ) The reorder point = daily demand * lead time = 50 * 3 = 150 units

daily demand = 1500 / 300 = 50

lead time = 3

7 0

3 years ago

Moira Company has just finished its first year of operations and must decide which method to use for adjusting inventory account

Scrat [10]

Answer:

The Cost of good sold will decrease by 10,000

The other accounts balance will be the same.

<em>Missing Information:</em>

Ending balances in the relevant accounts were:

Work-in-Process 40,000

Finished Goods 80,000

Cost of Goods Sold 680,000

Explanation:

The company applied overhead for the amount of 435,000

This was charged into finished good which latter become cost of goods sold.

Then, as the actual overhead was 425,000 we have to adjust for the over-applied overehad. We applied more than it cost so we have to reduce it.

435,000 - 425,000 = 10,000

<u>We will decrease our COGS against the factory overhead account.</u>

COGS 10,000 debit

factory overhead 10,000 credit

8 0

3 years ago

Discount Travel has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and oth

BARSIC [14]

Answer:

The current ratio is 2.98

Explanation:

total current assets = cash + receivables + inventory + other current assets

= $102 million + 94 million + 182 million + 18 million

= $396 million

total current liabilities = accounts payable + current portion of long term debt

= $98 million + $35 million

= $133 million

current ratio = current assets/current liabilities

= [$396 million]/[$133 million]

= 2.98

Therefore, The current ratio is 2.98

6 0

3 years ago

In _______, data from transactions are collected over time and then processed all at once.

aivan3 [116]

The correct answer that fills in the blank is the real time data processing for it describes the statement above. The real time data processing includes of ongoing processes which is done in a short period of time that is why transactions that are collected are immediately and processed at once.

3 0

3 years ago