This is true. Hope I could help!
It is important that you are able to organize and classify
your files so that it would be fast and simple to retrieve them when they are
needed. Classify them by topics and
arranged them by date as well as by alphabetical order and create a database so
that you retrieve them quickly.
Answer:
Results are below.
Explanation:
Giving the following information:
Company 1:
Beginning inventory Merchandise $253,000
Cost of purchases 600,000
Ending inventory Merchandise 153,000
Company 2:
Beginning Finished goods $506,000
Cost of goods manufactured 930,000
Ending Finished goods 147,000
<u>To calculate the cost of goods sold, we need to use the following formula:</u>
<u></u>
COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory
<u>Company 1:</u>
COGS= 253,000 + 600,000 - 153,000
COGS= $700,000
<u>Company 2:</u>
COGS= 506,000 + 930,000 - 147,000
COGS= $1,289,000
Answer:
$9,800,000
Explanation:
Statement of Cash Flows (Indirect Method)
Particulars Amount
Net income $8,400,000
Add: Adjustment for operating activities -<u>$1,300,000</u>
Net cash flow from Operating Activities (I) $7,100,000
Add: Net Cash Flow from Investing Activities (II) -$1,300,000
Add: Net Cash Flow from Financing Activities (III) <u>$4,000,000</u>
Net Cash Flow (I+II+III) <u>$9,800,000</u>
