If the cost of the beginning work in process inventory is $70,000, costs of goods manufactured is $935,000, direct materials cos

Answer: Projects that arise as a result of problems and directives must be resolved quickly to avoid hurting an organization's business. The organization should complete low-priority projects before high-priority ones, if the low-priority ones take less time.

Explanation:

Answer:

4. Salaries payable.

5. FICA taxes payable.

6. Note payable due in 11 months.

Explanation:

Current liabilities are debts that the company must pay within one operation period, which is generally one year.

The note payable is due in 11 months, and both salaries and FICA taxes must be paid even sooner (usually during the current month).

Notes payable that are due 15, 18 or 24 months from now are long term liabilities.

Answer:

Cash flows from Operating activities is $30800

Explanation:

The first thing that we will calculate is the Net Profit for the year thereafter we will calculate the operating cash flow for the year.

<u>Step 1: Calculate is the Net Profit for the Year</u>

Sales                                                     $5,65,600

Less: Cost of Goods Sold                   <u>($4,76,000)</u>

Gross margin                                         $89,600

Less: Admin and Selling expenses      ($58800)

Less: Depreciation                  ($42,800)

Less: Interest expense                         ($112,000)

Net income before tax                           (124000)

Less: tax                                                       -

Net income after tax                             ($1,24,000)

<u>Step 2: Now we will calculate the Cash flow from Operating activities</u>

Net income after tax                             ($1,24,000)

Add: Depreciation                                   $42,800

Add: Interest                                           <u>$1,12,000</u>

<u>Cash flow from Operating activities</u>    $30800

Answer:

A tract of land used for raising crops or livestockcan be called a field or a farm.

Answer:

The net realizable value is $7,000-$700= $6,300

The reason for this is that $700 was the the allowance for doubtful accounts and this is the amount that company does not expect to receive therefore it is subtracted from the total receivables to find the net realizable value.

Un collectible amount is $200 which is less than $700 so it will be subtracted from 700 and then the doubtful accounts balance will be $500

Explanation: