Answer:
$33900
Explanation:
Revenues for the year 2018 = $90100
Expenses for the year 2018 = $56200
Use Following formula to calculate Net Income
Net Income = Revenue for the year 2018 - Expenses for the year 2018
Net Income = $901,000 - $562,000
Net Income = $339,000
Net income for the year is $33900. Purchase asset are included in the asset section of balance sheet and dividend payment is deducted from the retained earning balance.
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Answer: The correct answer is "stop-buy order with a specified purchase price of $55 per share.".
Explanation: An investor sold a stock short a year ago for $50 per share. The stock's price is currently $52 per share. If the investor is unwilling to accept a loss of more than $5 per share on the short sale transaction, she could place a <u>stop-buy order with a specified purchase price of $55 per share.</u>
<u>In this way there would be a difference of $ 5 between $ 50 and the specific purchase price of $ 55 and placing a stop-buy order on that price per share so as not to lose more than $ 5 per share.</u>
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Based on the <u>specific identification inventory method</u>, the cost of goods sold would equal $65 ($30 + $35) and not $75 as indicated in the question.
Specific identification is an inventory costing method that tracks the cost of goods to the exact items that are sold. This method is used where it is possible to track sold items individually, especially when the sold items are separately identifiable.
Specific identification is just one method in inventory costing. Others are <em>Last-in, First-out (LIFO), First-in, First-out (FIFO), and Weighted-Average Cost Methods.</em>
Thus, the inventory method that will produce the cost of goods sold under this scenario is the specific identification method.
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