Answer:
Dr. Cr.
Cost of Goods Sold $200
Merchandise Inventory $200
Explanation:
Inventory is value at Lower of Cost and Net realizable value.
Cost of Inventory = $8,000
Net Realizable Value of Inventory = $7,800
The lower value is the Net realizable value and Inventory should be reported by $7,800 on the balance sheet. The net difference of $200 is adjusted to bring the value of inventory to it net realizable value.
Expense to be recorded = $8,000 - $7,800 = $200
A) because that is something you can’t really change.
Answer:
The given net pay is not correct because the Medicare is not 1.45% of her gross pay. The Medicare should be $11.02, making the correct net pay $641.86.
Explanation:
Answer:
c. $79,790
Explanation:
The computation of the note and interest collected at maturity date is showb below:
Maturity value = Principal + interest
where,
Principal is $79,000
And, the interest is
= $79,000 ×30 days ÷ 360 days × 12%
= $790
So, the maturity value is
= $79,000 + $790
= $79,790
Hence, the maturity value is $79,790
Therefore the correct option is c.
Answer:
Option A is the correct answer.