Answer:
The excess cash for April at the end is $33000. So option B is the correct answer.
Explanation:
The excess is the additional cash held at the year end in addition to the desired reserve. The ending cash balance can be calculated as,
Ending cash balance = Opening cash balance + Cash Receipts for the month - Cash payments for the month
Ending cash balance = 8000 + 75000 - 40000 = $43000
Out of the $43000 ending cash balance, the desired reserve is $10000. Thus,, the excess cash for April is,
Excess cash = 43000 - 10000 = $33000
Im guessing C because the other ones are not well worded.
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
