Answer:
ABC's retained earnings balance at the end of April is $11,400
Explanation:
The addition to retained earnings in the current month is revenue derived from providing services to customers minus the expenses such as rent and employee salaries
Net income for the month=$2,000+$900-$800-$700=$1400
Retained earnings at month end=opening retained earnings+net income
Retained earnings at month end=$10,000+$1,400=$11,400
Answer:
$208
Explanation:
Using the FIFO Inventory method, inventory items are assumed to be sold in the order in which they were purchased from the earliest to the latest.
The order of purchase of the inventory items are.
Jun. 1, DVD Player 1012, $113
Nov. 1, DVD Player 1045, $95
Nov. 31, DVD Player 1056, $88
Therefore, if two of the three items are sold, the cost of goods sold is the cost of the first two items purchased
= 113 + 95 = $208.
Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.
Transaction A
Purchases – Dr 860500
Accounts payable 860500
Transaction B
Accounts payable - Dr $111,600
Purchase returns $111,600
Transaction C
Accounts payable - Dr 748900
Discount received 14,978
Cash 733,922
<h2>Option 2: Social Media Manager</h2>
Explanation:
Option 1: Computer software company in need of a PC support specialist is an invalid choice because they normally deals with troubleshooting hardware and software. This role is not related to graphic design program.
Option 2: This is the right answer because, social media manager is closely associated with graphic design. So Vidya may pick up this job.
Option 3: Network engineer is not suitable for Vidhya, as this job deals with connecting computers.
Option 4: A technician role plays more with cables and this option too not related to the field of Vidhya.
