Answer:
Assets:
Cash 8200 - 520 - 5243 - 820 - 620 + 9016 = 10,013
Receivables 9200 - 9200 = 0
Inventory 2200 + 5700 + 520 - 350 - 107 - 6200 + 520 - 383 = 1900
Liabilities:
Accounts Payable 5700 - 350 - 5350 = 0
Common Stock 7700 = 7700
Explanation:
Redd Company has incurred multiple transactions which will require adjustments before financial statements are prepared. These transaction will have effects on both sides of the accounts assets and liabilities. Common stock is not affected by the transactions as this is equity section.
Answer:
$183,000
Explanation:
The computation of the cost of goods sold using the FIFO method is shown below:
= Number of units purchased × per unit + additional units purchased × per unit
= 15,000 units × $10 + 3,000 units × $11
= $150,000 + $33,000
= $183,000
Since there are 18,000 units are sold
out of which 15,000 are at $10 and the remaining 3,000 units are at $11 and the same is to be considered
Answer:
The correct answer is letter "B": specialty goods.
Explanation:
Specialty goods are those for which buyers can make a special offer to acquire them based on special features the good has and brand recognition that makes it unique. <em>Luxury cars, cultural ornaments, </em>and <em>high-fashion clothing</em> are examples of specialty goods.
Answer: D. $90,518.40
Explanation:
They are putting a 20% down payment on the home which means they are paying 80%;
= 80% * 157,500
= $126,000
First find the monthly payments;
Present value = Payment * ((1 - (1 + r)^-n) / r)
n= 20 * 12 = 240 months
r = 6/12 = 0.5%
126,000 = Payment * (( 1 - ( 1 + 0.5%)⁻²⁴⁰) / 0.5%)
126,000 = Payment * 139.58077168292915831291691663652
Payment = 126,000/139.58077168292915831291691663652
Payment = $902.70313
They'll pay that for 240 months;
= 902.70313 * 240
= $216,648.7512
Interest = 216,648.7512 - 126,000
= $90,648.7512
= $90,648.75
<em>Closest answer is D. </em>
An application , reference sheet
