Answer:
Cost of Merchandise sold: $11
Gross Profit: $17
Ending inventory: $22
Explanation:
STATEMENT SHOWING INVENTORY RECORD UNDER WEIGHTED AVERAGE METHOD
RECIEPTS COST OF GOODS SOLD BALANCE
DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $
balance
05-Oct 1 5 5
12-Oct 1 13 13
28-Oct 1 15 15
TOTAL 3 11 33 1 11 11 2 11 22
Gross Profit:
Sales revenue 28
Less: Cost of good sold 11
Gross Profit: 17
The reasons why collateral is important to a borrower are:
- It serves as borrower's credit worthiness .
- Collateral minimizes the risk for lenders.
<h3>What is Collateral?</h3>
Collateral can be regarded as item of value that is been used to secure a loan.
In a case whereby a borrower defaults on the loan,it is possible for lender to seize the collateral and sell it to recoup its losses. Banks require collateral on certain types of loans.
Learn more about Collateral at;
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Answer:
Annual depreciation= $300
Explanation:
Giving the following information:
Purchasing price= $1,450
Salvage value= $250
Useful life= 4 years
F<u>irst, we need to determine the annual depreciation for the whole year using the following formula:</u>
<u></u>
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(1,450 - 250) / 4]
Annual depreciation= $600
<u>Now, for 6 months:</u>
Annual depreciation= (600/12)*6= $300
Answer:
D. What do we want to become?
Explanation:
A mission statement refers to a statement in which the existence reason could come why it is established, its entire objectives, its products and services that are provided to the customers, and at last the location where they deal
So as per the given options the option D is correct as it represent the mission statements and the hence the same is to be considered
Therefore all the other options are wrong or incorrect
Currently, 20 countries are part of Latin America. They are: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Uruguay and Venezuela. Other than that, there are other territories that are not yet considered countries, but they are part of the list.
