Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q5 q6 at the beginning of the financial year

Q5 Q6 At the beginning of the financial year a...

80.2K

Verified Solution

Question

Accounting

Q5

image

Q6

image

At the beginning of the financial year a business has $1,500 of inventory left over from the preceding accounting period. During the year it purchases additional goods costing $10,000. Cost of goods sold is $11,100. How much is the ending inventory? a. $2,600 b. $1,900 c. $400 d. $100 Dammam Company purchased a machine for 70,000SR, with a manufacturing capacity of 500 units per hour. After 1 month operating the machine, the company decided to replace the engine of the machine, so that it can manufacture 700 units per hour. The new engine has a cost of 20,000 SR. The machine was repainted in white, with a cost of 800 SR. How much is the total cost of the machine to be shown on the non-current asset account? a. SR90,800 b. SR90,000 c. SR70,000 d. SR70,800

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suppose the yield curve shows 1 year rates at 5%, 2 year rates at 10% and...

Finance
Q

State the major function of amygdala and hippocampus.

Medical Sciences
Q

Part Three: Acid/Base Homeostasis in the Human Body Beginning Questions: Carbon dioxide is formed during cellular respiration and then...

Medical Sciences
Q

Design a synchronous 3-bit binary counter that generates the repeated sequence of 0, 3, 4, 7,...

Electrical Engineering
Q

Which of the following statements is FALSE O All genes encode proteins Sometimes multiple protein...

Biology
Q

A 60 F capacitor is connected to a 110 V 60 Hz AC supply The...

Physics
Q

E Unit Conversions G 12 4 2 Volume Question 18 of 24 1 point Question...

Geometry
Q

A word phrase or situation that has been used so often that it has become...

Basic Math
Q

15 The First Amendment is fundamentally important because it guarantees freedom of speech and freedom...

Basic Math
Q

2 Find cos 0 sin 0 de moyur in to enroldeig nivollol edy to lis...

Calculus
Q

To support herself while attending school, Daun Deloch sold stereo systems to other students. During...

Accounting
Q

Valmont Company has developed a new industrial piece of equipment called the XP-200. The company...

Accounting