Answer:
$2,468,000
Explanation:
LIFO reserve = “Allowance to Reduce Inventory to LIFO” = the difference between the inventory method used for internal reporting purposes and LIFO.
LIFO effect = the change in the Allowance balance from one period to the next = the adjustment that companies must make to the accounting records.
Dr Cost of Goods Sold $168,000
($486,000- $318,000)
Cr Allowance to Reduce Inventory to LIFO $168,000
$2,300,000 +$168,000 =$2,468,000
Therefore the amount that Bramble should report as Cost of Goods Sold in the 2018 income statement is $2,468,000
Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
The total liabilities of Stockton Company for the period ended December 31 are $6,200.
The liabilities are made up of the following accounts and determined as follows:
Accounts Payable 1,900
Notes Payable 4,300
Total liabilities $6,200
The liabilities represent the resources that Stockton Company owes to third parties for goods and services received on credit.
Data and Calculations:
Trial Balance December 31
Cash 7,530
Accounts Receivable 2,100
Prepaid Expenses 700
Equipment 13,700
Accumulated Depreciation 1,100
Accounts Payable 1,900
Notes Payable 4,300
Common Stock 1,000
Retained Earnings 12,940
Dividends 790
Fees Earned 9,250
Wages Expense 2,500
Rent Expense 1,960
Utilities Expense 775
Depreciation Expense 250
Miscellaneous Expense 185
Totals 30,490 30,490
Thus, the total liabilities of Stockton Company are $6,200, which comprised the Accounts and Notes Payables.
Learn more about computing liabilities of a business at brainly.com/question/24188538
Answer:
C) An increase in imports into the United States and a decrease in exports to Canada, which will cause a decrease in aggregate demand and real GDP.
Explanation:
This is because an appreciation in dollar increases the price of computers for Canada which are purchased via USD. This reduces the Canadian demand for computers. This also means that as USD is now stronger they can buy Canadian products as cheaper. This then increases the imports in to the USA and decreases the exports.
As the exports have fallen and more American demand is for the imports, aggregate demand and GDP which is associated with locally produced goods - falls.
Hope that helps.