Answer:
Stuart Manufacturing Company
Assets = $107,200
Explanation:
a) Data and Calculations:
Cash Account
Common stock $89,000
Furniture (32,000)
Equipment (40,000)
Salaries (12,000)
Wages (21,000)
Raw materials (26,000)
Sales 72,000
Cash balance $30,000
Inventory:
Cost = $26,000
Units produced = 10,000 units
Cost per unit = $2.60 ($26,000/10,000)
Cost of goods sold = 8,000 * $2.60 = $20,800
Ending inventory = 2,000 * $2.60 = $5,200
Sales Revenue = 8,000 * $9 = $72,000
Assets:
Cash $30,000
Ending inventory 5,200
Furniture 32,000
Equipment 40,000
Total $107,200
b) An asset is something that brings in future cash flows to the business entity. It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments. Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.
Answer:
weeks of supply 2,7122857
Explanation:
17,500,000 / 50 weeks = 350,000 COGS per week
<u>current finished inventory: </u>
250 x $ 65 = 16,250
190 x $ 80 = 15,200
310 x $ 105 =<u> 32,550</u>
Total 64,000
<u><em>cost added:</em></u>
70,000 materials x $ 2.75
125,000 materials x $ 5.00
<em>total 817500</em>
<u><em>WIP:</em></u>
2,000 rolls x $ 10.50
5,000 spools x $ 6.75
500 rolls x $ 26.10
total $ 67,800
Total inventory: <em>817,500</em> + 67,800 + 64,000 = 949300
<em><u>week of supply:</u></em>
inventory of 949300
and 350,000 goods are consumer per week
week: 2,7122857
Answer: the answer is A. Yes.
Explanation:
Under a strict cash basis of accounting, revenues and expenses are recorded only when cash is received or paid. Under a modified cash basis of accounting, certain accruals and/or deferrals are recorded for financial-statement purposes.
The most common modifications are the capitalization and amortization of long-lived assets and the accrual for income taxes (recognition of income tax expense and related liability).
The word secure is a protected sounding word so it’s the process of securing something from a business to protecting something from terrorist BASICALLY protecting♂️
Answer:
$30,000
Explanation:
The computation is shown below:
As we know that
Current ratio = Current assets ÷ Current liabilities
Current assets = 3.4 × Current liabilities
Now the
Acid-test ratio = Quick assets ÷ Current liabilities
2.8 = Currents assets - inventory ÷ Current liabilities
2.8 = 3.4 × Current liabilities - $18,000 ÷ Current liabilities
2.8 × Current liabilities = 3.4 × Current liabilities - $18,000
After solving this, the current liabilities is $30,000
