Answer:
False
Explanation:
False because the income, expenses accounts are closed to profit and loss account or income summary.
they are closed by transferring the credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.
The assets and liabilities , common stock, equity account are not closed.
I believe the answer is b. However I'm not quite sure. I think b would be the most reasonable answer.
It's true investing in stocks and bonds is risky because it is possible to lose all or part of your principal.
Investors are unlikely to demand the same returns on their stock investments year after year. Market yields can be expressed as the sum of government bond yields and market risk premiums.
Yes. If you sell bonds before their maturity date, you may incur a loss as the sale price may be lower than the purchase price. Also, if an investor purchases a bond and the company faces financial difficulties, the company may not be able to return all or part of the original investment to the bondholders.
Learn more about bonds at
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Answer:
Wilkens' days in inventory for 2017 = 60.833
Explanation:
Given:
Sales = $1,800,000
Beginning inventory = $160,000
Ending inventory = $240,000
Gross profit = $600,000
Inventory turnover = 6 times
Wilkens' days in inventory for 2017 = ?
Computation of Wilkens' days in inventory for 2017:
Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover
Wilkens' days in inventory for 2017 = 365 / 6 times
Wilkens' days in inventory for 2017 = 60.833
Answer:
Option A is the correct answer,$5810
Explanation:
The relevant of the Y51B is the cost of replacement,which is the open market price as it is actively being used by Yehle Inc.
Besides, if the quantity currently in inventory is used it has to be replaced at open market price.
Disposal value would have been used if the material in question is not being used
The relevant of 700 liters is given below:
$5.81*1000=$5,810
1000 liters has to be bought not 700 liters as the least quantity available for sale is 1000 liters.
Above,it would be wrong to choose option D as 700 liters is not available
