Gupta Industries received a $350,000 prepayment from Packard Associates for the sale of new equipment. Gupta will bill Packard an additional $105,000 upon delivery of the equipment. Upon receipt of the $350,000 prepayment, how much should Gupta recognize for a contract asset, a contract liability, and accounts receivable

Answer:

To calculate the ending balance in finished goods inventory using absorption costing, you need to consider the cost of goods manufactured (COGM) and the cost of goods sold (COGS). Absorption costing allocates both variable and fixed manufacturing costs to the cost of goods manufactured, and these costs are carried over to finished goods inventory until the products are sold.

Here's how you can calculate the ending balance in finished goods inventory:

Calculate the total manufacturing cost (COGM) for the number of units produced. This includes both variable and fixed manufacturing costs.

Calculate the cost per unit by dividing the total manufacturing cost by the total number of units produced.

Multiply the cost per unit by the number of units in finished goods inventory.

Here's a formula to represent this calculation:

Ending Finished Goods Inventory = (Total Manufacturing Cost / Total Units Produced) * (Total Units Produced - Units Sold)

If you have specific cost figures for variable and fixed manufacturing costs and the total number of units produced, you can use these values in the calculation. However, I would need those specific values to provide you with a numerical answer.

Explanation:

Final answer:

Without having information regarding production costs or units produced, the ending balance in finished goods inventory using absorption costing can't be precisely determined. However, it's generally calculated using the formula: Beginning inventory + Cost of Goods Manufactured - Cost of Goods Sold = Ending Inventory.

Explanation:

In absorption costing, all manufacturing costs, both fixed and variable, are assigned to units of product. They are thus 'absorbed' by the goods inventory. Given you've sold 80 units and we're not given any other information such as production costs or units produced, specific ending balance in the finished goods inventory using absorption costing can't be determined.

That being said, the general formula to determine the ending balance in a finished goods inventory would be: Beginning inventory + Cost of Goods Manufactured - Cost of Goods Sold = Ending Inventory. In this case, since the beginning inventory is zero, if you know your Cost of Goods Manufactured (COGM) and Cost of Goods Sold (COGS), you could calculate the ending balance.

Learn more about Absorption Costing here:

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Answer:

The correct answer is debt, such as issuing bonds, and equity, such as issuing stock.

Explanation:

Any of the capitals mentioned in each company has an exact measure, its deficit or excess are difficult situations that make the difference between losing or successful companies. Although when talking about financial resources, the desired situation is that they exceed the needs of the company, it is also true that if they exceed prudent levels, they fail to comply with a primary mandate of the business world: profitability, generate maximum profits with the least amount possible of assets or capital.

The sources of financing can be internal or external and at the same time have a link in the form of capital contributions or in the form of debt. Inmates refer to the ability to generate retained earnings and / or cash flows that can be reinvested in growth processes. In many cases the internal cash generation does not run at the same speed of the growth processes, this happens when the surpluses only partially cover what is required to leverage the expansion. In these cases, internal sources via capital are considered. On the other hand, the company can also resort to internal sources via labor liabilities or through provisions, which have a behavior by debt modality.