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butalik [34]
3 years ago
12

Novak Company took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in

the physical count were $25,170 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $21,900 of goods sold to Alvarez Company for $30,030, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Novak report as its December 31 inventory
Business
1 answer:
Lorico [155]3 years ago
8 0

Answer: $237070

Explanation:

The amount that Novak should report as its December 31 inventory will be:

Inventory in hand = $190,000

Add: Goods bought from Pelzer Corporation = $25,170

Add: Cost of goods sold to Alvarez Company = $21900

Total = $237070

The amount that Novak should report as its December 31 inventory will be $237070

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use the accounting equation to solve for the missing information. 2. did jacob's overhead doors report net income or net​ loss?
vichka [17]

Total assets 44900    

Less: Liablities 14,550

Total Owner's equity 30,350    

Less: Owner's capital 30,670

Add: Drawings 7,500    

Less: Revenues 8,850

Expense  1,670

Assets   =Liabilities +Owner's-Drawings+Revenues-Expense capital

               44,900 = 14,550 + 30,670- 7,500 + 8,850 - 1,670
2. Jacob states a profit of $7,180

Net Income = Revenues – Expenses
= 8850–1670 = 7180

  • Equipment, real estate, raw materials, and inventories are examples of tangible assets. Intangible assets include things like royalties, patents, and other intellectual property.
  • The amount earned by an individual or corporation after costs, allowances, and taxes is referred to as net income. Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

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7 0
1 year ago
___________is a conductor installed on the supply side of a service or separately derived system to ensure the required electric
g100num [7]

Answer:

Supply-side bonding jumper

Explanation:

A supply side bonding jumper is a transmitter on the stockpile side or inside an assistance or independently inferred framework to guarantee the electrical conductivity between metal parts required to be electrically associated.  

A bonding jumper on the stock side of an over current gadget  

The size of the stock side holding jumper depends on the unground stage conductors

7 0
3 years ago
If a firm in a monopolistically competitive market lowers price, then Use letters in alphabetical order to select options
Valentin [98]

Answer: quantity demanded for the good will increase (D)

Explanation:

Monopolistic competition is an imperfect competition where there are many producers that sell products that are differentiated from each another e.g through quality or branding.

In a monopolistic competitive market, firms maximizes profits when marginal revenue equals to the marginal cost. The demand curve of a monopolistic competitive market is downward sloping which means that as price reduces, the quantity demanded for the good will increase.

3 0
3 years ago
Read 2 more answers
Crane Company issued common stock for proceeds of $389000 during 2019. The company paid dividends of $88000 and issued a long-te
ivann1987 [24]

Answer:

$284,000

Explanation:

Calculation to determine what The financing section of the statement of cash flows will report net cash inflows of

Using this formula

Net cash inflows=Common stock-Dividends-Treasury stock

Let plug in the formula

Net cash inflows= $389000-$88000 -$17000

Net cash inflows=$284,000

Therefore The financing section of the statement of cash flows will report net cash inflows of $284,000

6 0
3 years ago
Assume that subway tokens are $1.50 today and the price will go up to $2.00 tomorrow. how many tokens would you buy?
Ivan

The number of tokens to be purchased will depend on the purchasing power of my present capital.

<h3>What is a subway tokens?</h3>

It means those metal or plastic disk that can be redeemed, used in designated slot machines which are mostly used to pay for entry to the subway system.

Despite that the effect of inflation could push the subway tokens which are $1.50 today to go up to $2.00, the number of tokens to be purchased will depend on the purchasing power of my present capital.

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7 0
2 years ago
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