Spain's discoveries in the new world showed other european countries that

The store purchases used goods for resale from people that bring items to the store. since that can occur anytime that the store

KiRa [710]

That doesnt seem right

5 0

3 years ago

Following is partial information for the income statement of Audio Solutions Company under three different inventory costing met

Tamiku [17]

Answer:

The computation is shown below:-

Explanation:

1. FIFO LIFO Average cost

Cost of goods sold

Beginning inventory $11,200 $11,200 $11,200

(400 units × $28))

purchases $16,625 $16,625 $16,625

(475 units × 35)

Goods available for use $27,825 $27,825 $27,825

Ending inventory $18,025 $15,575 $16,695

(525 units)

Cost of goods sold $9,800 $12,250 $11,130

under ending inventory = 475 × $35 + 50 × $28

FIFO = $18,025

LIFO ending inventory 400 × $28 + 125 × $35

= $15,575

Average cost = $27,825 ÷ $875

= 31.8

Ending inventory = 525 × 31.8

= $16,695

2. FIFO LIFO Average

Sales

(307 × $50) $15,350 $15,350 $15,350

Cost of goods sold $9,800 $12,250 $11,130

Gross Profit $5,550 $3,100 $4,220

Expenses $1,680 $1,680 $1,680

Net income $3,870 $1,420 $2,540

3. FIFO = 3

LIFO = 2

Average = 1

5 0

3 years ago

Andrea won the miss illinois beauty pageant the year she graduated from college. knowing this, the amount of money she will earn

xxMikexx [17]

Andrea won the Miss Illinois beauty pageant the year she graduated from college. Knowing this, the amount of money she will earn over the course of her adult lifetime is most likely to be MORE THAN that of her peers.

Since she has already won a beauty pageant, it is absolutely clear that she will ear more money than her peers. She will be a unique student among her peers. She might be offered modelling or ad films because of her victory.

5 0

3 years ago

Refer to Stevenson, Ross, and Warner. Which of the following represents a key component of the Sarbanes-Oxley Act relating to co

antoniya [11.8K]

Answer:

The correct answer is B. Accounting firms are prohibited from providing many types of consulting services to the companies they audit.

Explanation:

The main reason for this policy is that it does not allow conflicts of interest to arise that eventually produce widely known cases of fraud, such as those presented at the Enron and Worldcom companies.

The Enron case broke out in the U.S. when that energy giant announced what was once the biggest bankruptcy in the history of the country, with a debt of 31,000 million dollars, something overcome a few months later by the collapse of another colossus, WorldCom.

In June 2002 WorldCom, the second US telephone. and of the world, he admitted that he had lied in his accounting books for almost 4,000 million dollars and his actions - which shortly before touched his maximum of 16 dollars - collapsed to 20 cents. His bankruptcy exceeded Enron's: $ 35 billion of liabilities.

4 0

2 years ago

The most complex level of culture is the culture trait.

xeze [42]

Answer:

False.

Explanation:

Culture trait is the simplest level of culture. It is an individual tool, act, or belief that is related to a particular situation or need. Using spoons and forks when eating is a culture trait. Another trait is the specific greeting used when meeting people. If you meet a pal, you probably say, “Hello”. On the other hand, when greeting the company's manager you would probably be quite formal. The greeting you use is related to the particular situation or need.

So, Individual culture traits combine to form the next level – culture complexes.

And culture complexes combine to form larger levels called culture patterns. These patterns form important components of a society’s culture.

5 0

2 years ago