Answer:
Explanation:
The accounting equation is shown below:
Total assets = Total liabilities + Shareholder's equity
In the given transaction, the office equipment was purchased for $3,000 and it is paid immediately which means the balance of office equipment is increased and the cash balance is decreased.
It gives a positive impact on office equipment under fixed assets and a negative impact on the cash balance under the current assets.
Answer:
12.57
Explanation:
The first part is correct with the answer of 12.57. The formula is x_bar_bar + 3*sigma/sqrt(n)
Here x_bar_bar = 12.51, sigma = 0.04, n = 4.
Thus UCL = 12.51 + 3*0.04/sqrt(4) = 12.57
So people will want to buy it. The owner will still gain money but not as much if the products had sold to begin with
Answer:
The correct answer is $50 (unfavorable).
Explanation:
According to the scenario, computation of the given data are as follow:-
Planning supply activity cost = (592 × $10) +$1230
= $7,150
Actual supply activity cost = (597 × $10) + $1230
= $7,200
We can calculate the activity variance for supply cost by using following formula:-
Activity variance for supplies cost = Actual activity cost – Planning activity cost
= $7,200 - $7,150
= $50 ( positive shows unfavorable)
Gap's cost of goods sold is $10,258 million and Cash paid to supplier is $10,447 million.
Let understand that Cost of good sold refers to amount of expenses incurred to produce the goods produced by a firm.
- The formulae for deriving the Cost of Goods Sold is {Beginning Inventories + Purchases – Ending Inventories}.
- Information given are <em>Purchased inventories $10,392, Ending inventories $2,131 and Beginning inventories $1,997</em>
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Cost of goods sold = $1,997 + $10,392 - $2,131
Cost of goods sold = $10,258
- In conclusion, the amount of Gap's cost of goods sold is $10,258
Let understand that Cash paid to accounts payable refers to net amount paid to supplier of goods.
- The formulae for deriving the Cash paid to accounts payable is Beginning balance for 2015 + Purchases - Ending balance for 2015
Cash paid to accounts payable = $1,181 + $10,392 - $1,126
Cash paid to accounts payable = $10,447
- In conclusion, the amount of Gap's Cash paid to supplier is $10,447
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