1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KiRa [710]
3 years ago
15

Inventory by Three Methods The units of an item available for sale during the year were as follows:

Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

a. $12,925.

Explanation:

the inventory cost by the first-in, first-out method are $12,925.

You might be interested in
In a market economy, decisions about which goods are produced are based
notsponge [240]

Answer:

A what businesses believe will generate the most profits.

Explanation:

In a market economy, the private sector controls the majority of the factors of production. The government or central authority does not interfere with economic activities in this type of economy. The private sector decides on the production and distribution of goods and services.

The private sector participates in economic activities to make profits. Demand and supply forces determine the type and quantities of goods to be produced. Traders will avail to the markets the goods and services that consumers are willing to buy.

5 0
2 years ago
Read 2 more answers
Wright Company's cash account shows a $29,300 debit balance and its bank statement shows $27,600 on deposit at the close of busi
IgorLugansk [536]

Answer:

Bank Reconciliation Statement:

Calculation of Adjusted cash Balance on 31 May:

Cash Balance:                              $ 29,300

less: Bank Charges                      $ (190)

less: NSF Check                          <u> $ (420)</u>

Adjusted cash Book Balance      $ 28,690

Add: Outstanding Checks           $ 6,500

Less: Uncleared Checks              <u>$ 7,100</u>

Revised Cash Book Balance (A) <u>$ 28,090</u>

Bank Statement Balance               $ 27,600

Add: Error by Bank                         <u>$   490    </u>

Adjusted Bank Balance (B)           <u>$ 28,090</u>

Explanation:

Bank reconciliation is a company document prepared in order to reconcile difference between balance as per cash book and balance as per bank statement.

The difference arise because of two reasons:

  • Timing differences (Outstanding checks and Uncleared checks
  • Error and Omissions. (Bank charges -NSF)
6 0
2 years ago
A journal entry for a​ $210 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for​ $550
Ludmilka [50]

Answer:

The sum of the debits will exceed the sum of the credits by $340. (None of the options given).

Explanation:

The right posting on the payment of $210 for the purchase office supplies would be;

Debit office supplies account $210

Credit Cash account $210

However since the debit to office supplies was $550 which is 340 (i.e $550 - $210) more than what the amount to have been posted is, it means that the sum of the debits will exceed the sum of the credits by $340.

3 0
2 years ago
Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of S25 per un
alukav5142 [94]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Selling price= $25 per unit.

Sales (in units):

January= 45,000

February= 55,000

March= 50,000

The cost of goods sold is $14 per unit.

The gross profit is calculated using the following formula:

Gross profit= selling price - cost of goods sold

January:

Sales= 45,000*25= 1,125,000

COGS= 45,000*14= (630,000)

Gross profit= 525,000

February:

Sales= 55,000*25= 1,375,000

COGS= 55,000*14= (770,000)

Gross profit= 605,000

March:

Sales= 50,000*25= 1,250,000

COGS= 50,000*14= (700,000)

Gross profit= 550,000

5 0
3 years ago
A firm is considering expanding its current operations and has estimated the internal rate of return on that expansion to be 12.
andrew-mc [135]

Answer:

expansion should be undertaken as it has a positive net present value

7 0
2 years ago
Other questions:
  • In the foreign exchange market, the price of one nation's currency in terms of the currency of another nation is known as the
    15·1 answer
  • “You’ve been specially selected to win our grand prize. Contact us to collect it!” This is probably a(n) _____.
    8·2 answers
  • This cartoon can be read and enjoyed on several levels. Which statement best captures the economic message of
    5·1 answer
  • "fundamental disequilibrium," its government choose not to devalue its currency. a likely consequence of this would be
    5·1 answer
  • 5. Ren Inc. has expected earnings before interest and taxes of $63,300, an unlevered cost of capital of 14.7 percent, and a comb
    5·1 answer
  • If a firm plans to issue new stock, flotation costs (investment bankers' fees) should not be ignored. There are two approaches t
    5·1 answer
  • A local bank intends to install a new automated teller machine (ATM) to allow users (i.e., bank customers) to perform basic fina
    10·1 answer
  • Ray started out with one small print shop. His business has grown so much that he now has two other branches across town. Ray ha
    13·2 answers
  • Kate is the sales representative for a major textbook publisher. When she calls on the business faculty at General University, s
    13·1 answer
  • Keynes argued that: Group of answer choices the distinction between the short run and the long run is irrelevant. the long run i
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!