Answer:
B. $304,060
Explanation:
We know that
Ending balance of finished goods inventory = Beginning balance of finished goods inventory + Cost of Goods manufactured - Cost of Goods Sold
= $304,560 + $290,500 - $291,000
= $304,060
We simply applied the above formula to compute the ending balance of finished goods inventory by considering the beginning balance of finished goods inventory, cost of goods manufacture and cost of goods sold.
Answer:
Revenue - March = $160
Explanation:
The accrual principle in accounting states that the revenues for a period should match the expenses for that particular period and any revenue or expense should be recorded in the period to which it relates to. This means that the upfront fee received by Fit Co. is a liability and should not be recorded as a revenue until it is earned. So, by providing two sessions in the month of March, Fit Co. has earned revenue for 2 sessions out of the twelve. Thus, at the end of March, Fit Co. should record a revenue of,
Revenue - march = 960 * 2/12 = $160
Answer:
c. 67,757 errors per million opportunities
Explanation:
The computation of the errors per million opportunities is shown below:
= Customer complaints last week ÷ total guest stayed in that week × 1,000,000
= 29 customers ÷ 428 guests × 1,000,000
= 67,757 errors per million opportunities
Hence, the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer and Explanation:
The transactions 3 6 and 8 represents that the expenses are incurred which results in increased and expenses and the transaction 4 and 5 shows that there is an increased in revenue
The journal entry is shown below:
For transaction 3
Rent expense
To Cash
(Being the rent expense is paid for cash is recorded)
As the expense has debit balance so it would be increased
For transaction 6
Electricity expenses Dr
To Cash
(Being the energy usage is paid for cash is recorded)
As the expense has debit balance so it would be increased
For transaction 8
Advertising expense Dr
To Account payable
(Being the advertising expense is recorded)
As the expense has debit balance so it would be increased
For transaction 4
Account receivable Dr
To Service revenue
(Being the service is provided)
As the revenue has credit balance so it would be increased
For transaction 5
Cash Dr
To Service revenue
(Being the service provided is recorded)
As the revenue has credit balance so it would be increased
The attachment is provided for better understanding
The other transactions represent the assets, liabilities and stockholder equity
Answer: B : Trade deficit
If a land of Mercury had total exports of $150billion and total imports of $234billion, it had a "trade deficit".
Explanation:
Trade deficit can be termed an amount by which a country's costs of imports exceeds cost of exports. It is also known as negative balance of trade. Trade deficit is a term of trade that measures international trade.
Trade deficit is obtained by subtracting a country's export from its imports.
Mathematically :
Trade deficit = imports - exports
Trade deficit occurs when a country foreign debt is greater than what it produce for exports. Also when a country depends on another country for refinering their manufactured goods, such country will experience trade deficit.
It can be controlled by promoting constructions of refineries to process products, productions of raw materials for goods, improving exports and limiting imports.
