Oh, my god look at a back. well done
Answer: a. FIFO to LIFO, but not LIFO to FIFO
Explanation:
Well the inventory changes which would likely be accounted for is the FIFO ( first in first out system ) to LIFO ( last in first out system ). But not the LIFO ( last in first out ) to FIFO ( first in first out ). This system are mostly used in sales where for FIFO the first goods to arrive leaves first and for LIFO the opposite of FIFO
Answer:
Account Balance in margin account:
Investment = $6,000 (100 x $60)
The customer's account will first increase with an unrealized gain of $2,000 ($80 - 60 x 100) on the next day. It will then decrease with an unrealized loss of $2,000 ($80 - 60 x 100) on the day after. This cancels the earlier unrealized gain.
Explanation:
The customer's investment will now show a balance of $6,000 with a contra account showing a debt of $3,000 for the balance of the Regulation T margin account. According to investopedia, "A margin account is a brokerage account in which the broker lends the customer cash to purchase stocks or other financial products. The loan in the account is collateralized by the securities purchased and cash, and comes with a periodic interest rate."
Answer:
B) should pack her bags for the trip; she earned it
Explanation:
In this scenario, it can be said that if the client purchases that annuity, the agent should pack her bags for the trip; she earned it. Since the annuity that has been recommended by the agent is offering her an incentive, and the agent fully disclosed that fact to the client, then she did her duty correctly. In the case that the client decides to purchase the annuity, they do so with full knowledge of the potential conflict of interest.
Answer:
$14,300
Explanation:
Based on the information given we were told that the management of the company estimated that the amount in the uncollectible accounts will be the amount of $14,300 which means that the amount of $14,300 will be the balance of the Allowance for Bad Debts that should be reported on the company balance sheet.
