Answer:
The number of units sold by the company during January 2017 is 410.
Explanation:
Note: The data in the question are merged together. They are therefore sorted before answering the question as follows:
Units Per unit price Total
Balance, 1/1/2017 340 $6.0 $2040
Purchase, 1/15/2017 170 ..6 1003
Purchase, 1/28/2017 170 ..6 1054
The explanation of the answer is now given as follows:
Total units available for sales during January 2017 = 340 + 170 +170 = 680
Units on hand at end of the month (1/31/2017) = 270
Number of units sold by the company during January 2017 = Total units available for sales during January 2017 - Units on hand at end of the month (1/31/2017) = 680 - 270 = 410
Therefore, the number of units sold by the company during January 2017 is 410.
<span>When the financial institution or lender gives a borrower a maximum credit limit of $1,000, it means that he can only owe within that amount or spend up to that limit. Otherwise, spending more than $1,000, the borrower may face penalties or fines in addition to his regular payment. In other words, credit limit refers to the maximum amount of credit a bank extends to the client who has the capacity to pay his debt.
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Answer:
Cost of goods sold = overstated : $24,265
Current assets = understated : $24,265
Gross profit = understated : $24,265
Inventory = understated : $24,265
Net income = understated : $24,265
Stockholders' equity = understated : $24,265
Total assets = understated : $24,265
Explanation:
Inventory was understated by $24,265 ($327,560 - $303,295). Since inventory is an Asset, also it is a Income Statement element and consequently affects Retained Earnings (Distributions to Shareholders) , the effect is shown above.
Answer:
The quick ratio can be worked out as below;
Explanation:
Quick ratio=Current Assets excluding inventory stocks/Current liabilities
Current Assets=210+800
Current liabilities=$1,260
Quick Ratio =($210+4800)/$1,260
Quick Ratio=1.25
Answer:
The correct answer is letter "E": "A" and "B".
Explanation:
In order to accomplish its monetary policy, the Federal Reserve (<em>Fed</em>) buys and sells securities in the open market to control the money supply. If there is more money supply in the open market, loan rates will decrease allowing investors to access more capital. At the same time, the Fed reserves and assets will increment.
