Answer:
$131,000
Explanation:
Given that,
Stockholders’ equity at the beginning = $94,000
net income = $24,000
Dividends paid = $9,000
Common stock issued = $22,000
Stockholders' equity at the end:
= Stockholders Equity at the beginning + Net Income - Dividend + Common stock issued
= $94,000 + $24,000 - $9,000 + $22,000
= $131,000
Therefore, the total stockholders' equity at the end of the year is $131,000.
Answer:
The Journal entries are as follows:
(i) Sale of Equipment
Cash A/c Dr. $20,300
Accumulated Depreciation A/c Dr. $22,500
To Equipment $40,000
To Gain $2,800
(To record the sale of equipment)
(ii) Sale of Equipment
Cash A/c Dr. $12,700
Accumulated Depreciation A/c Dr. $22,500
Loss A/c Dr. $4,800
To Equipment $40,000
(To record the sale of equipment)
Workings:
Accumulated Depreciation = [(40,000 - 2,500) ÷ 5] × 3 years
= 7,500 × 3 years
= $22,500
Multi-functional new product teams
Answer:
A. reduces record keeping.
Explanation:
A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.
Hence, a periodic system of inventory reduces record keeping because there's no continuous records in real-time of the amount of inventory sold or purchased by the customers.
Answer:
The appropriate solution is:
(a) 2828 cases each time
(b) $4005656.85
(c) $3609800
Explanation:
The given values are:
Annual demand,
D = 200,000 cases
Per case cost,
C = $20
Carrying host,
H = 
= $
Ordering cost,
S = $40
(a)
The economic order quantity will be:
⇒ 
On substituting the values, we get
![=\sqrt{[\frac{(2\times 200000\times 40)}{2} ]}](https://tex.z-dn.net/?f=%3D%5Csqrt%7B%5B%5Cfrac%7B%282%5Ctimes%20200000%5Ctimes%2040%29%7D%7B2%7D%20%5D%7D)
(b)
According to the question,
The annual ordering cost will be:
= 
= 
= 
($)
The annual carrying cost will be:
= 
= 
= 
($)
The annual purchase cost will be:
= 
= 
= 
($)
Now,
The total inventory cost will be:
= 
= 
($)
(c)
According to the question,
Order quantity,
Q = 10000 cases
Per case cost,
C = $18
Carrying cost,
H = 
= 
The annual ordering cost will be:
= 
= 
= 
($)
The annual carrying cost will be:
= 
= 
= 
($)
The annual purchase cost will be:
=
= 
= 
Now,
The total cost of inventory will be:
= 
= 
($)
