The question above has incomplete statement it lacks certain given choices. with this i made a research about the question and it turns out that the answer of the question in the items that save you money by allowing you to pay a relatively low price for a good or service is comparative shopping.
Answer:
Explanation:
The following information can be gotten from the question:
Net realizable value (NRV) will be:
= $125,000 - $10,500
= $114,500
Normal profit will be:
= $114,500 - (30% × $125,000)
= $114,500 - $37,500
= $77,000
The amount should Garcel report as inventory on its balance sheet should be $77,000.
Answer:
The company has incorrectly credited the sales revenue account at the time of the receipt of payment. So, the journal entry to record the transaction is as follows:
Date Particulars Debit Credit
March 1, 20 Sales Revenue A/c $45,000
To Unearned Sales Revenue A/c $45,000
(To record Unearned sales revenue)
Answer:
$25,400
Explanation:
Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.
The movement in the retained earnings balance may be expressed as
Opening balance + net income - cash dividend paid = closing retained earnings balance
Cash dividend declared - Cash dividend paid = Cash dividend payable
$49,000 - Cash dividend paid = $23,600
Cash dividend paid = $49,000 - $23,600
= $25,400
Answer:
D. $246,000
Explanation:
As per the given question the solution of direct material cost assigned to good units completed is provided below:-
To reach Cost transferred out we need to follow some steps which is following below:-
Step 1. Cost per unit = cost of material used ÷ Units started
= $300,000 ÷ 12,500
= $24
Now,
Step 2. Goods units completed = Started units × Cost per unit
= 6,250 × $24
= $150,000
Step 3. Normal spoilage = Cards units × Cost per unit
= 4,000 × $24
= $96,000
and finally
Cost transferred out = Goods units completed + Normal spoilage
= $150,000 + $96,000
= $246,000
To reach allocation of Cost transferred out we simply put the values into formula.
