44) Crystal Inc. is a company has provided the following information Sales Reven

Question

44) Crystal Inc. is a company has provided the following information Sales Revenue merchandiser of stone omaments.The company stone sold 15,000 units in 2015. The4 excluding freight in) Selling and Administrative Expenses 300,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 69,000 15,000 45,000 55,700 What is the cost of goods available for sale for 20152 A) $360,000 B) $304,300 C)$330,000 D) $345,000 45) Managerial accounting is used in manufacturing and merchandising companles,but ot in service companies. B. False A. True 46) Identify and describe the three sections of the statemenet of cash flows. oferotin ORT ANSWER. Write the word or phrase that best completes each statement or answers the question

Explanation / Answer

Ans 45. The statement is false because the scope of modern managerial accounting has extended to all areas of the industry including the service sector wherever decision making is involved. Hence option B is correct.

Ans 46. The three sections of the statement of cash flows are:

Cash flow from operating activities which includes all the cash inflow and outflow from all operational activities of the organization like purchase, sales, other business incomes and expenses.

Cash flow from investing activities which include all cash inflow and outflow from purchase and sale of assets and interest and dividend from investments.

Cash flow from financing activities which includes cash flow from issue and redemption of shared and other securities and dividends paid.

Ans 44. Cost of goods available for sale Particulars $ Opening Stock 45000 (+) Purchases 300000 (+)Freight in 15000 Total 360000 (-) Closing stock 55700 Cost of goods available for sale 304300 Hence option B is correct

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