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pickupchik [31]
2 years ago
11

A company reported the following information for its most recent year of operation: purchases, $114,000; beginning inventory, $2

7,000; and cost of goods sold, $124,000. How much was the company's ending inventory?
Business
1 answer:
yuradex [85]2 years ago
8 0

Answer:

ending finished inventory= $17,000

Explanation:

Giving the following information:

purchases, $114,000

beginning inventory, $27,000

cost of goods sold $124,000.

<u>To calculate the ending inventory, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

124,000 = 27,000 + 114,000 - ending finished inventory

ending finished inventory= 141,000 - 124,000

ending finished inventory= $17,000

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Answer:

187,500 units.

Explanation:

Fixed cost= $750,000

Variable cost= $2

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To calculate the break-even quantity, we use the formula

Break even= Fixed cost ÷ (Price - Variable cost)

Let's input the values of each

$750,000/($6 - $2)

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3 years ago
Squirrel tree services reports the following amounts on december 31, 2021.Assets Liabilities and Stockholders’ EquityCash $9,500
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Answer and Explanation:

1. The preparation of the balance sheet is presented below:

                               <u> Squirrel tree services</u>

<u>                                           Balance sheet</u>

<u>                          For the year ended December, 31, 2021</u>

<u>Liabilities                               Amount             Assets                    Amount </u>

<u>and stockholder equity</u>

Liabilities

Account payable                  $15,100        Cash                            $9,500

Salaries payable                   $5,300         Supplies                     $3,600

Note payable                        $38,000       Prepaid insurance    $5,300

Total liabilities                       $58,400      Building                       $90,000

Equity

Common stock                     $40,000

Retained earnings                 $10,000

Total equity                            $50,000

Total liabilities & equity          $108,400   Total assets              $108,400

2. The preparation of the cash flow statement is presented below:

                               <u> Squirrel tree services</u>

<u>                                    Cash flow statement</u>

<u>                          For the year ended December, 31, 2021</u>

Particulars                    Amount ($)             Amount ($)

Cash flow from operating activities-  

Cash inflows  customers  96,000  

Cash outflows salaries      (40,000)  

Cash outflows supplies     (22,000)  

Net Cash flow from operating activities (A)     34,000

Cash flow from investing activities-  

Sale of investments                   35,800  

Purchase of building                 (98,000)  

Net Cash flow from investing activities (B)     (62,200)

Cash flow from financing activities  

Borrowed from bank                      38,000  

Dividends                                      (15,500)  

Net Cash flow from financing activities (C)             22,500

Net increase in cash (A+B+C)                   (5,700)

Add: Cash at beginning of year                 15,200

Cash at end of year                                     9,500

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