Reference no: EM131217074
During August 2014, Packer Manufacturing had the following cash receipts and disbursements:
Cash received from customers - $319,000
Cash received from selling equipment - $11,200
Cash paid for salaries - $47,000
Cash paid to suppliers for inventory purchases - $130,000
In addition, the following balance sheet account balances were shown on Packer's books:
July 31 August 31
Accounts Receivable $128,000 $135,000
Inventory $33,000 $25,000
Accounts Payable $21,000 $25,000
Salaries Payable $8,000 $5,000
Assume all sales and purchases are on account.
REQUIRED:
1. Determine sales for August 2014.
2. Determine salary expense for August 2014.
3. Determine cost of goods sold for August 2014.
|
Think about an episode of healthcare
: Think about an episode of healthcare that you received, or that someone you know received. Describe how that care experience would have differed had it been delivered in accordance with these six attributes of an ideal health system.
|
|
Why cost minimisation and profit maximisation
: Discuss the advantages and disadvantages of organisational decentralisation - Critically discuss the practice of outsourcing and the problems you consider may be associated with this practice.
|
|
How can you decrease the heat loss through the window
: Compare your result with the heat loss in an aluminum and a wood frame of 10 mm thickness. How can you decrease the heat loss through the window
|
|
Benefits of having single measurement system
: No single system can adequately answer the demands made by diverse functions of cost systems. While companies can use one method to capture all their detailed transactions data, the processing of this information for diverse purposes and audiences de..
|
|
Determine cost of goods sold and salary expense
: During August 2014, Packer Manufacturing had the following cash receipts and disbursements: Determine sales for August 2014. Determine salary expense for August 2014. Determine cost of goods sold for August 2014.
|
|
Acquisition create value for shareholders
: Will this risk spreading create value for shareholders? Under what circumstances could this acquisition create value for shareholders?
|
|
What is the temperature of the furnace
: A block of copper, whose mass is 100 g, is quenched directly from an annealing furnace into a 200 g glass container that holds SOO g of water. What is the temperature of the furnace when the water temperature rises from 0° to ISOC? (Cglass =0.5 Ji..
|
|
Describe the overall planning process and the key components
: Evaluate the financial statements and the financial position of health care institutions. Describe the overall planning process and the key components of the financial plan. Use technology and information resources to research issues in health financ..
|
|
What is your evidence for the importance of these forces
: What are the most important of the five industry forces affecting the industry and the company and what is their effect (high-moderate-low)? What is your evidence for the importance of these forces? Is the industry attractive for new entrants AN..
|