What is the value of the closing inventory (stock) of the retailer? (a) Nil (b) 160 (c)
Question:
What is the value of the closing inventory (stock) of the retailer?
(a) Nil
(b) £160
(c) £275
(d) £440
The following information applies to question.
The following are business transactions of a retailer:
Purchased 150 items of cost £4 each for cash.
Delivered 110 items to customers for cash at a selling price of £6.50 per item.
Transcribed Image Text:
1 2 3 Transaction or event Purchase goods paying in cash, 150 items at 4 each and place in shop. 110 items delivered to customers. Those 110 items costing 4 each are removed from the shop. The customers pay in cash. Selling price is 6.50 per item. Position after transactions. Cash Asset Inventory (stock) Ownership interest Revenue Expense +
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
b Closing inventory stock is 160 1 2 3 Transaction or event Purchase goods paying ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
What is the most common measure of the Maintainability Key System Attribute (KSA)?
-
13. What is a lower bound for the price of 3-month call option on a non- dividend-paying stock when the stock price is $50, the strike price is $45, and the 3-month risk-free interest rate is 8%?...
-
What is the total cost of goods sold by the retailer? (a) 440 (b) 600 (c) 715 (d) 875 The following information applies to question. The following are business transactions of a retailer: Purchased...
-
Show that the angular wave number k for a non-relativistic free particle of mass m can be written as in which K is the particle's kineticenergy 27 V2mK k =
-
The text states that "the globalization of financial markets has helped increase growth and efficiency in the world economy." Briefly explain which aspects of globalization help to increase growth in...
-
1. Ali and Son Company reported the following transaction for Year 1 and Year 2 as follows: Year 1 Year 2 Beginning inventory $80,000 $93,000 Cost of goods purchased 88,000 85,000 Goods available for...
-
For maximum blade efficiency of single stage impulse turbine (a) \(ho\left(=\frac{u}{v_{a 1}} ight)=\frac{\cos ^{2} \alpha_{1}}{2}\) (b) \(ho=\cos \alpha_{1}\) (c) \(ho=\frac{\cos \alpha_{1}}{2}\)...
-
Paseo Industries has adopted the following production budget for the first 4 months of 2013. Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2012, the ending raw...
-
On January 1, Sharp Company purchased $75,000 of Sox Company 6% bonds, at a time when the market rate was 5%. The bonds mature on December 31 in five years, and pay interest annually on December 31....
-
A month has elapsed since Precision Computer Centres year-end. Tony Freedman will use four specialized journals for recording business transactions in the month of Septemberyou will find two in...
-
What is the amount of total sales of the manufacturer? (a) 900 (b) 1,100 (c) 1,760 (d) 2,400 The following information applies to question. A manufacturing company has carried out the following...
-
What is the total profit of the retailer? (a) 115 (b) 275 (c) 440 (d) 875 The following information applies to question. The following are business transactions of a retailer: Purchased 150 items of...
-
People are always looking for more effective cache mechanisms, particularly for ways of reducing the miss penalty (for example, using means of annex caches or victim caches). A student makes the...
-
Your company acquires another company in China. When you start to transform the organizational structure to that commonly used by your company at home and in other countries, you encounter...
-
Identify a firm that is looking for a new CEO (or pick one whose CEO you think should be replaced!). Using the box entitled How Would You Do That? 1 as a model, imagine that a firm is turning toward...
-
Suppose that the following table represents the market share percentage for each firm in the baby food market in Sweden. a. Calculate the three-firm concentration ratio for the baby food industry...
-
Calculate the present value of the income streams A to E in Table 1 at an 8 percent interest rate and again at a 10 percent rate. Suppose the investment behind the flow of income in E is a machine...
-
What are the uses of profits for health care organizations?
-
Spitzer Company has collected sales forecasts for next year from three people. They have estimated that the cost of goods sold is 70 percent of sales. The company tries to maintain 10 percent of next...
-
Refer to the information from Exercise 22-19. Use the information to determine the (1) Weighted average contribution margin , (2) Break-even point in units, and (3) Number of units of each product...
-
Using the totals from the columns of the spreadsheet of question B5.1, prepare for the dental practice in the month of April: A statement of cash flows;
-
Prepare ledger accounts for the transactions of Jane Gate's dental practice, listed in question A5.5. Refer to A5.5, Apr. 1 Jane Gate commenced her dental practice on 1 April by depositing 60,000 in...
-
Prepare ledger accounts for the transactions of Jane Gate's dental practice, listed in question A5.5. Refer to A5.5, Apr. 1 Jane Gate commenced her dental practice on 1 April by depositing 60,000 in...
-
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made...
-
Discuss an outline of your SWOT analysis identifying the organizational competencies and strategic advantages. strengths include a strong popularity in healthcare, a strong group of employees, strong...
-
Discuss how Job satisfaction factors are all affected by quality and, in turn, competitiveness, make sure you discuss this topic with your peers. Please include examples and incite citation and...
Study smarter with the SolutionInn App