Answer:
$1400
Explanation:
Net working capital is obtained by subtracting total current liabilities from total current assets. Current assets and liabilities are expected to be used or paid within one year.
Change in net working capital would be the change in current assets - change in current liabilities.
last year current assets $67,200 : current liabilities $71,100
This year current assets $82,600 : current liabilities $85,100
change Net operating capital = {$82,600- 67,200} - {85,100 - 71,100}
=$15,400 -14,000= -$1400
Change in networking capital = $1400
Answer:
Credit Inventory and debit cost of sales with cost of inventory $620 and
Credit Sales and Debit Account receivable or Cash for Sale value of $960
Explanation:
Under the Perpetual inventory system, no purchases account are maintained rather an on-going balance for two accounts are maintained, namely: 'cost of goods available for sale' and 'cost of goods sold'.
Since no purchases account is maintained under this method, the inventory account is updated with every purchase of inventory, and all expenses relating to inventory directory.
So if Davis makes a sale of inventory costing $620 for $960 on account, the following entries will be effected.
Dr Cost of Sales............................620
Cr. Inventory...............................................620
Dr. Accounts Receivable............960
Cr. Sales....................................................960
Being sale of goods worth $620 at $960
Yes, he does in fact he is set up for the rest of his life
Answer: $7,688
True Cash balance = Unadjusted cash balance + Interest earned + Note received from Nickleson by bank - NSF (Non-sufficient funds) check - bank charges
= 7,176 + 14 + 600 - 67 - 35
= $7,688
Outstanding checks and deposits in transit do not need to be accounted for as they are already included in the unadjusted book balance.
The quantity of each item sold is multiplied by the sale price to determine the total revenue.
What is Quantity?
Quantity can be used to describe an amount, weight, number, or measure. A quantity is a property of a single item or group of items that may be measured in terms of "less," "equal," and "more."
The total of all inbound funds that the business has received from the sale of goods or services. Gross revenue is another name for total revenue.
Total revenue is computed by multiplying the average sales price per item or unit by the quantity of items or units sold.
As a result, option (a) is correct total revenue.
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