Answer: A $304
Explanation: LIFO means last in first out. It means it is the older inventory that is sold off first.
On November 1, total value of inventory = $20 × 5 =$100
On November 2, total value of inventory = $100 + ( $22 × 10) = $320
On November 6, total value of inventory = $320 +($25×6) = $470
On November 8, 8 units of inventory was sold. This would be taken from the older stock of inventory. These inventories are the those from November 1 and 2.
The remaining inventory after the sale = (7 × 22) + 150 = $304
Answer:
Cover letters can also provide insight and explanation into sensitive information that your resume cannot, such as lapses in employment, career changes and layoffs.
Explanation: I put this as my answer and got it right. :)
Answer: 8.45%
Explanation:
From the question, we are informed that Holmes Company's currently has an outstanding bonds and has a 8% coupon and a 13% yield to maturity.
We are further told that Holmes believes it could issue new bonds at par that would provide a similar yield to maturity and that its marginal tax rate is 35%.
Holmes's after-tax cost of debt will therefore be calculated as:
= Yield to maturity × (1 - Marginal tax rate)
= 13% × (1 - 35%)
= 13% × (65%)
= 0.13 × 0.65
= 0.0845
= 8.45%
Answer:
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
Cr Sales Revenue $1,846
Oct 15
Dr Cash $400
Dr Unearned Service Revenue $554
Cr Service Revenue $554
Cr Accounts Receivable $400
Explanation:
Preparation of the journal entries for Geraths in 2020.
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
($2400-$2000)
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
($600/$600+$2000*$2400)
Cr Sales Revenue $1,846
($2,000/$600+$2000*$2400)
Oct 15
Dr Cash $400
($2400-$2000)
Dr Unearned Service Revenue $554
Cr Service Revenue $554
($600/$600+$2000*$2400)
Cr Accounts Receivable $400
($2400-$2000)
