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2 years ago

Marigold Lake Corporation’s accounting records show the following at year-end December 31, 2017:

Business

1 answer:

FrozenT [24]2 years ago

8 0

Answer:

Cost of Goods Purchased;

= Purchases - Purchase Returns and Allowances - Purchase Discounts + Freight-In

= 163,210 - 3,810 - 5,960 + 8,710

= $162,510

Cost of Goods Sold

= Beginning Inventory + Cost of Goods Purchased - Ending Inventory

= 33,550 + 162,510 - 28,600

= $167,100

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In the u.s each additional year of schooling has historically raised a person’s wage on average by about __________.

Feliz [49]

History raise a person wage on average by about 8.50

3 0

3 years ago

Abraham has just purchased his first car. His bank, First State Bank, loaned him the money to buy the car and has required him t

fenix001 [56]

Answer:

Collision

uninsured motorist

comprehensive

liability coverage

Explanation:

From the question, we are informed about Abraham who has just purchased his first car. His bank, First State Bank, loaned him the money to buy the car and has required him to purchase insurance to protect the car as the collateral for the loan. In this case the basic types of coverage Abraham should buy to satisfy the bank requirement and to best protect himself from the risks of operating an automobile are;

✓ uninsured motorist

✓comprehensive

✓liability coverage

Insurance is very essential in protecting an individual or firm from any form of financial loss, it can be regarded as a kind of risk management and it is way to avoid uncertain loss. Then if Adam could buy the coverage he will be protected from loss in future.

3 0

3 years ago

Investors and creditors are interested in the probability that their original investment or loan will eventually be returned, an

11111nata11111 [884]

Answer:

Option C Cash Flow Prospects.

Explanation:

The cash flow prospect shows that lending the firm money will increase its performance or not and also that the company is generating enough cash flows that it will be paying returns and principle amount on time. If the cash flwo prospect shows that the company will not be delivering value because it is already struggling with its cash flows issues. Then the money lender will not be interested in paying the company because the company might not pay back the returns and the principle amount.

8 0

3 years ago

Giancarlo was just hired to revive an ailing publishing company. He would like to see a financial picture of the company at this

Alex

Answer:

balance sheet

Explanation:

A balance sheet is one of the most essential financial statements that helps accountants and managers grasp the financial structure of the company, at a certain point of time.

The balance sheet clearly states the company's assets, liabilities and stockholders' equity, rigorously adhering to the basic accounting equation:

Assets = Stockholder's Equity + Liabilities

The equilibrium of the equation above is non-negotiable; it relies on common sense too. Every company owns things - assets, which were obtained with the aid of a e.g. bank loan - liability, or investor money - stockholders' equity.

These three groups can be further itemized into smaller, concrete accounts. Also, the liquidity principle is applicable in terms of ordering the items in an increasing liquidity order.

The time context is also an important distinction of this specific financial statement. While statements such as the P&L statement refer to a specific time interval (year, quarter...), the balance sheet reflects a specific point of time.

6 0

2 years ago

Room Chill Company manufactures ceiling fans and uses an activityminusbased costing system. Each ceiling fan has 20 separate par

igor_vitrenko [27]

Answer:

Total unitary cost= $121.5

Explanation:

Giving the following information:

Each ceiling fan has 20 separate parts.

The direct materials cost is $85

Each ceiling fan requires 3.5 hours of machine time to manufacture.

Activity Allocation Base Allocation Rate

Materials handling Number of parts $ 0.08

Machining Machine hours 7.20

Assembling Number of parts 0.35

Packaging Number of finished units 2.70

To calculate the unitary manufacturing cost, we need to use the following formula:

Unitary manufacturing cost= direct material per unit + allocated overhead per unit

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Materials handling= 0.08*20= $1.6

Machining= 7.20*3.5= $25.2

Assembling= 0.35*20= $7

Packaging= 2.70*1= $2.7

Total= $36.5

Total unitary cost= 85 + 36.5= $121.5

4 0

2 years ago