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loris [4]
3 years ago
12

Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 24 units were purchased at $23 per unit. Au

gust 18, 40 units were purchased at $25 per unit. August 29, 34 units were sold. What was the amount of the cost of goods sold for this sale? rev: 10_23_2013_QC_37882, 10_30_2013_QC_37882, 11_01_2013_QC_37882 Multiple Choice $952.00 $1,552.00 $1,000.00
Business
1 answer:
Gnoma [55]3 years ago
5 0

Answer:

Cost of goods sold= $816

Explanation:

Giving the following information:

Acme-Jones Corporation uses a weighted-average perpetual inventory system.

August 2: 24 units were purchased at $23 per unit.

August 18: 40 units were purchased at $25 per unit.

On August 29: 34 units were sold.

Weighted-average= (23 + 25)/2= $24

Cost of goods sold= 34*24= $816

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Santa claus enterprises has 87,000 shares of common stock outstanding at a current price of $39 a share. the firm also has two b
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3 years ago
Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a y
denis23 [38]

Answer:

a. $1,700 b. $100 c. $1,700 d. $0

Explanation:

I think the question should be this way

Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a year-end bonus of $1,700. Determine the amount Clyde should include in his gross income this year under the following circumstances: (Leave no answer blank. Enter zero if applicable.)

a. Paylate Corporation wrote the check and put it in his office mail slot on December 30 of this year, but Clyde did not bother to stop by the office to pick it up until after year-end.

Amount to be included:_______

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Amount to be included:______

c. Paylate Corporation mailed the check to Clyde before the end of the year, (and it was delivered before year end). Although Clyde expected the bonus payment, he decided not to collect his mail until after year-end.

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b. Clyde is taxed on the $100 - the remaining $1600 is taxed in the next year.

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d. Clyde is not taxed until next year because the postdated check is a substantial restriction.

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