Answer:
D. $55,000
Explanation:
Sales = 250,000
Gross Profit = 250,000 x 40% = 100,000
Cost of goods sold = 250,000 - 100,000 = 150,000
Cost of good sold = Opening Inventory + Purchases - Closing Inventory
150,000 = 35,000 + 200,000 - Closing Inventory
150,000 = 235,000 - Closing Inventory
Closing Inventory = 235,000 - 150,000
Closing Inventory = 85,000
Inventory damaged by flood = 85,000 - 30,000 = 55,000
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
I am not Good at Business and all, but I think it's Experience that will satisfy.
A total of 3 worker will be hired for the ranch if the going wage for these workers is $500 per week.
<h3>What is a marginal labor?</h3>
This refers to a firm increase in total production because of one additional unit of labor that is added while all other factors of production remain constant.
Given the information in the attached table, a total of 3 worker will be hired for the ranch if the going wage for these workers is $500 per week.
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Answer:
Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.
Explanation:
