Answer:
(A) $390,000
Explanation:
Under LIFO method as the name suggests "Last In First Out"
the goods purchased in Last that is latest are sold first, that is goods purchased in 2015 will be sold first, therefore in the given case at the end of 2014 using LIFO we have,
Balance = $390,000
Because balance of goods purchased in 2014 i.e. $756,000 is sold first in 2014 remaining inventory at year end will be of 2013
Correct option is
(A) $390,000
Answer: The correct answer is choice d - =A6 * 2
Explanation: The cell formula in spreadsheets are relative, so when you fill the formula from one row to the row below, it will also change the cells that it is pointing to in the formula down one row. In this case, when the formula B5 = A5 * 2 is filled to cell B6, then it will change to A6 * 2.
Answer:
Account Receivables 1,736 debit
Sales Revenue 1,600 credit
sales tax payable 136 credit
Explanation:
The company will charge to the 1,600 sale the sales tax :
1,600 x (0.06 state + 0.025 local) = 136
the salestax is levied in the consumer not the firm thus it is not an expense the company is just an intermediary between the government and the consumer.
Answer:
6.4%
Explanation:
money invest = $1.50 or 1£
interest earned = 1£ x 5% = 0.05£
total returns = 1.05£
now we convert them back to dollars = 1.05£ x $1.52/£ = $1.596
effective yield = (total return - initial investment) / initial investment = ($1.596 - $1.50) / $1.50 = 6.4%
Answer:
the labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable
Explanation:
The computation of the labor rate variance and labor efficiency variance is given below;
For Labor rate variance
= $12,000 - (2000 × 7)
= $2000 F
And, the Labor efficiency variance is
= 7 × (2000 - 3000 × 0.5)
= $3500 U
Hence, the labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable
