Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2037 20. Last year, Rocker Company's financial statements showed the following: Beginning inventory $40,825 Average inventory $24,825 Cost of goods sold $184,325 Assuming 365 days

2037
image text in transcribed
image text in transcribed
20. Last year, Rocker Company's financial statements showed the following: Beginning inventory $40,825 Average inventory $24,825 Cost of goods sold $184,325 Assuming 365 days in a year, what is Rocker's average days' sales in inventory for 2019? a 45 days b. 65 days c. 107 days d. 83 days 37. As manager of a miniature golf course, you are closing up at the end of the day. You see that the cash register reports total sales of $575.00 but when you add the cash in the register, you only find $570.00 in cash. How should you account for the missing $5.00? a. Debit account: Golf expense b. Debit account: Sales c. Debit account: Stolen Funds d. Debit account Cash Short and Over

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Interpretation And Application Of International Standards On Auditing

Authors: Steven Collings

1st Edition

0470661127, 978-0470661123

More Books

Students also viewed these Accounting questions

Question

3. How has e-commerce transformed marketing?

Answered: 1 week ago