Answer:
The correct answer is B
Explanation:
Purchase is the term which is defined as the bought or purchase of raw material that is necessary or required for the business in order to create or manufacture goods or services. So, that the product could be presented into the market for sale and the business could make profit from the sale of product.
So, the statement is false as the acquisition of material is charged to the purchase account.
Answer:
Cost of goods sold = $576,900
Explanation:
The budgeted cost of goods sold will be the sales volume in 2020 multiplied by cost per unit .
Sales volume in year 2020= (100-10)% × sales figure for 2019
= 90% × 160,250= 144,225
Cost of goods sold per unit = cost of goods sold in 2019/Sales units in 2019
= 641,000/160250=$4
Cost of goods sold = $4× 144,225 = $576,900
Cost of goods sold = $576,900
It’s very important to your business. Good records will help you do the following: Monitor the progress of your business.
Answer: <em>Option (d) is the correct answer.</em>
Ben view the investment by government as a way to jump start a weak economy, i.e. investment by government will allow industries to hire new employees or workforce in order to meet production demand. Thereby increasing government spending through investing in construction of road and bridge, Ben assumes that the state will intervene in market to help revive a weak economy.
Answer:
The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500
Explanation:
The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500
<u>Dividends payable a/c</u>
<u>Particulars Amount Particulars Amount</u>
Balance b/d $ 13,000
Dividend paid (Cash) $ 54,500 Dividend declared $57,000
Balance c/d $ 15,500
$ 70,000 $ 70,000
Therfore, The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500
