A; sounds like the best option
Answer:
$24,000 Gain
Explanation:
Given that,
Bonds issued = 3,000
Par value = $1,000
Value of issued bonds = $3,120,000
Goll's gain in 2018 on this early extinguishment of debt:
= Issue price of bonds - Premium amortized - Callable value
= $3,120,000 - [($3,120,000 - $3,000,000) × 11/20] - (3,000 × $1,000 × 1.01)
= $3,120,000 - $66,000 - $3,030,000
= $24,000 Gain
Answer:
<u>Physical flow schedule</u>
Inputs
Beginning Work in Process 86,300
Add Units Started 105,900
Total 192,200
Outputs
Units Completed and Transferred 172,900
Units in Ending Work in Process 19,300
Total 192,200
Explanation:
A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.
Units Introduced must always be equal to units outputs in physicals terms.
<em>Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process</em>
= 86,300 + 105,900 - 19,300
= 172,900
Answer:
Cost of goods sold is $7,700
Gross Profit is $2,300
Explanation:
Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)
Cost of goods sold will be 10,000 - 2,300 = $7,700
Gross profit is sales revenue less cost of goods sold which is computed as shown below:
Gross profit = 10,000 - 7,700
= $2,300
