Answer:
The correct answer is shown below:
Explanation:
Cash discount is the discount, which is a deduction allowed or provided through sellers of the goods and services so that could motivate the customers or consumers to pay within the particular time period.
So, the statements which summarize are:
1. The sellers offer cash discount, will acknowledge as the sales discount.
2. The buyer refer or acknowledge the cash account as purchase account.
3. The cash accounts are defined as the credit terms.
4. The sellers could grant cash discount in order to encourage the buyers to pay earlier.
5. The payment which is reduced applies to the credit period.
<u>Given:</u>
Beginning Finished Goods
Cost of Goods Manufactured
Ending Finished Goods
Raw material purchases
<u>To find:</u>
Cost of Goods Sold
<u>Solution:</u>
The formula to calculate the cost of the goods sold for the manufacturing company is as follows,
Cost of Goods Sold = Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods
On substituting the values in the above formula we get,
Therefore, the cost of goods sold is $29300.
Here, we have ignored the purchase of raw materials cost because this amount will already be included in the cost of goods manufactured.
Answer:
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Explanation:
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Answer:
C. an increase in accrued expenses
Explanation:
Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.
These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income and the loss on the sale of assets is added whereas the gain on sale of assets is deducted
The risks of foreign outsourcing is that they could stop trading with you.
