Answer:
$3,556
Explanation:
Because the startup expenditure is above $50,000, the startup expenditures which are not deducted may be amortized over a period of 180 months starting from the beginning of trade.
This is calculated as the startup cost is divided by the total number of months allowed to be amortized and the answer is then multiplied by the months traded during the year. In the case provided the months in which the Oleander Corporation has been trading are 10 months starting from March-December 2019.
Amortizable amount {($64,000 / 180 months) * 10 months}
= $3,556 this is total deduction allowed as startup expenditure.
Answer:
The answer is: D) Risk is a measure of the uncertainty surrounding the return that an investment will earn.
Explanation:
Investment risk refers to the probability of losing an investment. It measures the uncertainty level of earning returns from an investment.
When an investor anticipates a higher risk, he will expect higher returns. On the contrary, low risk investments (e.g. T-Bills) offer very low yields.
Answer:
The weighted average unit cost of the inventory at January 31 is $496
Explanation:
Weighted Average unit cost the average cost of units on hand on each day. It is calculated by dividing total inventory value by total available units.
Date Unit Received / Sold On Hand Unit Cost Balance
1/1 Inventory 540 units at $2.80 540 $1,512 $1,512
1/8 Purchased 960 units at $2.3 1500 $2208 $3,720
1/12 Sold 1,300 at ($3,720/1500) 200 $3,224 $496
Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B
Explanation:
Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.
Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.
Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.
Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.
Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.
Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.
