Answer:
The correct answer is A.
Explanation:
Giving the following information:
Kushman Combines Inc. has $20,000 of ending finished goods inventory as of December 31, 2017. If beginning finished goods inventory was $10,000 and the cost of goods sold was $50,000.
We need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
50,000= 10,000 + cost of goods manufactured - 20,000
50,000 + 20,000 - 10,000= cost of goods manufactured
60,000= cost of goods manufactured
Answer:
The Nominal Cost to register the car should be $53.
Explanation:
For the first year the data is given as
CPI=150
Nominal Price=$50
Real Income= Nominal Cost / Consumer Price Index
=50/150 = 0.33
Now for the second year as the real income is same as previous year thus
RI=0.33
CPI has increase to 159. Now the nominal cost is given as
Nominal Cost=Real Income * Consumer Price Index
Nominal Cost=0.33 * 159
Nominal Cost=$53
So the Nominal Cost to register the car should be $53.
DTP or Desktop Publishing software is a software used to arrange element on a page in a way that makes communication more effective. In publishing houses, DTP are used to layout variety of printed materials such as magazines, books, pamphlets and menus
Answer:
Under the accrual basis, it should recognize $1,000,000 as property tax revenue for the year 2019. The remaining $45,000 that it does not collect in year 2019 will be accounted for as Property Tax Receivable while the $5,000 will be recorded as Uncollectible Expense in 2019.
Explanation:
The accrual concept or basis of accounting requires that all revenues and expenses relating to a fiscal year be recognized in that accounting year. It is not only the actual cash receipts and payments that should be recognized. This means that any revenue that is due but not yet received will be accounted for in the year that the revenue arises. And all the related expenses for raising the revenue will also be accounted for in the same year.
