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2 years ago

Based on the given information, what will be the working capital of the company?

Business

1 answer:

Romashka-Z-Leto [24]2 years ago

7 0

Answer:

$37,000

Explanation:

Working capital indicates the difference between a company's current assets and its current liabilities.

Current assets include such as cash at hand, bank balances, cash equivalents, and inventories. Current liabilities are accounts payable, bills, and short term debts.

in this case,

Current assets include

Inventory $50,000

Cash at Bank $ 5,000

prepaid rent $5,000

Total current assets $60,000

current liabilities

Notes Payable $20,000

tax payable $3,000

Total current liabilities  $23,000

Working capital

= $60,000 - $23,000

= $37,000

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Answer:

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Explanation:

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2 years ago

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Answer:

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2 years ago

The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 40 $ 10

Agata [3.3K]

Answer:

(a) FIFO (b) LIFO (c) weighted

average cost:

Cost of goods available for sale $2,600 $2,600 $2,600

Ending inventory 1,540 1,500 1,516

Sales $1,400 $1,400 1,400

Cost of goods sold 1,060 1,100 1,083

Gross profit $340 $300 $317

Explanation:

a) Data and Calculations:

Units Unit Cost Unit Selling Price

July 1 Beginning Inventory 40 $ 10 $400

July 13 Purchase 200 11 2,200

July 25 Sold ( 100 ) $ 14 (1,400)

July 31 Ending Inventory 140

July 31 Goods available 240

Average unit cost = $10.83 ($2,600/240)

FIFO:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,540 (140 * $11)

Sales $1,400 ($14 * 100)

Cost of goods sold 1,060 (40 * $10 + 60 * $11)

Gross profit $340

LIFO:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,500 (40 * $10 + 100 * $11)

Sales $1,400 ($14 * 100)

Cost of goods sold 1,100 (100 * $11)

Gross profit $300

Weighted Average:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,516 (140 * $10.83)

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Cost of goods sold 1,083 (100 * $10.83)

Gross profit $317

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2 years ago

How does analytical skills help to solve problems

stiks02 [169]

Answer:

■ how does analytical skills help to solve problems

➢ Analytical skills

The ability to examine information or a situation in detail in order to identify key or important elements, their strengths and weaknesses and use these to compile a persuasive argument, make recommendations or solve a problem.

$TextFromYourMrEx$

#CarryOnLearning

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2 years ago

Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building

lesantik [10]

Answer:

The correct option is B,common stock 30,000 cash 10,000 and building 20,000

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Appropriate double entries for the transaction are shown below

Dr Cash $10000

Dr Building $20000

Cr Capital $30000

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Also,the profits made increases the stake of the owner in the business and drawings should e deducted from the capital in case the owner withdraws cash or goods from the business.

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3 years ago