2 years ago

Closing entries and a post-closing trial balance are steps in the accounting cycle that occur

1 answer:

6 0

Explanation:

$\sin( \cos( \tan( \cot( \sec( \csc( \alpha \beta \gamma e\pi \infty ln( log( log_{ log_{\% \binom{ \\ }{?} }(?) }(?) ) ) ) ) ) ) ) )$

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At the end of the year, Brinkley Incorporated’s balance of Allowance for Uncollectible Accounts is $3,000 () before adjustment.

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Limitation of scientific management

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Exploitative Devices: Management did not share benefits of increased productivity and so economic welfare of workers was not increased. 2. Depersonalized work: Workers were made to repeat the same operations daily which led to monotony

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Dee's suggestion that the company needed more control over the way its products were displayed, priced, and promoted prompted a

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D.administered distribution system.

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Administered Distribution System is a system in which producer manages all the marketing functions at the retail outlets.

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If the ratio of currency to deposits (cr) increases, while the ratio of reserves to deposits (rr) is constant and the monetary b

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During 2020, Stellar Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Stellar for a

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What is the amount of gross profit realized during 2020?

(460 x $33.30) + (230 x $29.60) + (276 x $18.50) = $27,232

What is the amount of inventory of unsold straight chairs on December 31, 2020?

[(920 - 460) x $56.70] + [(690 - 230) x $50.40] + [(1,610 - 276) x $31.50] = $26,082 + $23,184 + $42,021 = $91,287

Explanation:

lump sum cost of chairs = $137,655

Type Chairs Selling Price Each Total

Lounge chairs 920 $90 $82,800

Armchairs 690 $80 $55,20

<u>Straight chairs 1,610 $50 $80,500</u>

total 3,220 $218,500

if we allocate costs based on resale, then each chair should cost:

Lounge chairs $90 x ($137,655 / $218,500) = $56.70

Armchairs $80 x ($137,655 / $218,500) = $50.40

Straight chairs $50 x ($137,655 / $218,500) = $31.50

contribution margin per chair:

Lounge chairs $90 - $56.70 = $33.30

Armchairs $80 - $50.40 = $29.60

Straight chairs $50 - $31.50 = $18.50

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