Answer:
$74,000
Explanation:
The computation of the ending balance in the Work in Process account is shown below:
= Beginning balance in work in process + direct material + direct labor + manufacturing overhead applied - jobs completed and transferred
= $48,000 + $154,000 + $94,000 + $236,000 - $458,000
= $74,000
We simply applied the above formula
Answer:
1. Cash payments for merchandise is $446,030
2.Cash payment for operating expense is $77,870
Explanation:
1. In order to calculate the Cash payments for Merchandise we would have to use the following formula:
Cash payments for Merchandise= cost of goods sold +decrease in accounts payable-decrease in inventory
Cash payments for Merchandise=$448,500+$4,290-$6,760
Cash payment for Merchandise=$446,030
2. In order to calculate the Cash payments for operating expenses we would have to use the following formula:
Cash payment for operating expense=operating expense - decrease in prepaid expense +decrease in Accured
Cash payment for operating expense=$78,000 -$650+$520
Cash payment for operating expense=$77,870
Answer:
Assets
Explanation:
Assets refer to an item of property owned by a person or company which is regarded as value and available to meet commitments, debts etc. So here you can say jaime's laptop computer, speaker system and blu ray player are his assets
Given:
Total cash = $160,000
Notes payable = $86,000
Common stock = $52,800
Find:
Retained earnings as on December 31, 2018
Computation for retained earning:
According to Accounting Equation:
Assets = Liabilities + Stock holder equity
Total Cash = Notes payable + Common stock + Retained earning
$160,000 = $86,000 + $52,800 + Retained earning
$160,000 = $138,800 + Retained earning
Retained earning = $160,000 - $138,800
Retained earning = $21,200
