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:
Depreciation Expense for 2019 using form 4562
Basis For depreciation; Recovery Period ; Convention ; Method ; Depreciation deduction
2,000 ; 5 years ; HY ; 200 DB ; 400
40,000 ; 7 years ; HY ; 200 DB ; 6,573
Explanation:
Accelerated method of depreciation is used by businesses for accounting and income tax purposes. The depreciation is calculated in such a way that the depreciation expense is higher in early years and lower in later years. Pepe is also using this method to account for his business assets. The depreciation expense for computer equipment and manufacturing equipment's totals $6,973.
Answer:
The cooperatives help their member to focus their attention on their livestock while the cooperatives work to get the best prices for their products.
Explanation:
Solution:
(a) Cash to be accounted for exceeds cash on hand by $52.78.
Cash to be accounted for is $7,146.30 .
That means cash on hand is short by $52.78.
Dr Cash $7,487.51
Dr Cash over and short $57.71
Cr Sales $7,545.22
(b) Cash on hand exceeds cash to be accounted for by $29.45.
That means you have a cash overage of $29.45
Dr Cash $7,590.10
Cr Sales $7,545.22
Cr Cash over and short $29.45
Answer:
63218
Explanation:
Annuity -3300
FVAD (from table) at 15years, 3% = 19.1569
Future value = 63217.77=63218
