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Q5 Q6 At the beginning of the financial year a...

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Accounting

Q5

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Q6

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At the beginning of the financial year a business has $1,500 of inventory left over from the preceding accounting period. During the year it purchases additional goods costing $10,000. Cost of goods sold is $11,100. How much is the ending inventory? a. $2,600 b. $1,900 c. $400 d. $100 Dammam Company purchased a machine for 70,000SR, with a manufacturing capacity of 500 units per hour. After 1 month operating the machine, the company decided to replace the engine of the machine, so that it can manufacture 700 units per hour. The new engine has a cost of 20,000 SR. The machine was repainted in white, with a cost of 800 SR. How much is the total cost of the machine to be shown on the non-current asset account? a. SR90,800 b. SR90,000 c. SR70,000 d. SR70,800

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