Answer:
Paying electricity bill for the month
Explanation:
The operating activities are shown in the cash flow statement. It has two methods
1. Direct method: The direct method records all those expenses related to the cash receipts and the cash payments
2. Indirect method: The indirect method records that transactions that impacts the working capital that means a change in the working capital which would come after reporting the net income.
So, the electricity bill is a cash payment that is to be reported in the operating activities.
If after preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $25,000. the entry to close the income summary account will be: a debit of $25,000 to owner capital.
<h3>Income summary</h3>
The debit balance of the amount of $25,000 in the income summary indicate that the company expenses is higher than the revenues generated by the company by $25,000.
Based on this the loss incurred will be taken out of the company owner's equity account by reducing it through a debit entry.
Therefore the income summary account has a debit balance of $25,000. the entry to close the income summary account will be: a debit of $25,000 to owner capital.
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Answer:
$55 and $100
Explanation:
The computation of the ending inventory is shown below:
Under the LIFO method
= Ending inventory units × purchase price
where,
Ending inventory units is
= 10 units + 20 units - 25 units
= 5 units
So, the ending inventory is
= 5 units × $11
= $55
Under the Average cost method
The average cost per unit is
= (Beginning inventory units × price per unit + purchase inventory units × price per unit) ÷ (Beginning inventory units + purchase inventory units)
= (10 units × $10 + 20 units × $25) ÷ (10 units + 20 units)
= ($100 + $500) ÷ (30 units)
= ($600) ÷ (30 units)
= $20 per unit
The ending inventory units is
= 10 units + 20 units - 25 units
= 5 units
So, the ending inventory is
= 5 units × $20
= $100
la carrera es por decirlo una expresion pero esto lo hace ser diferente como "vas muy a la carrera"
Answer:
labor cost = 15,000
Explanation:
We are going to use the formula for applied overhead and solve for the cost driver, which in this case is labor cost.
labor cost * 0.70 = 10,500
10,500/0.70 = labor cost
labor cost = 15,000
