Answer: 8%
Explanation:
current balance = $750
Period = 3years
Final amount at the end of the third year = $944.78
Rate =?
Using the compound interest formula :
A = P( 1 + r/n)^nt
Where : A= final amount plus interest
P = principal amount
r = interest rate
t = period
n = number of compounding periods per year = 1
A = P( 1 + r)^t
944.78 = 750(1 + r)^3
Divide both side by 750
944.78/750 = (1+r)^3
1.2597 = (1+r)^3
Take the cube root of both sides
1.07999 = 1+r
r = 1.07999 - 1
r = 0.07999
r = (0.07999) * 100%
r = 7.999% = 8%
The inventory indicates that the cost of goods sold will be $25000.
<h3>How to calculate the cost of goods sold</h3>
It should be noted that the cost of goods sold ic calculated through the formula:
= Opening inventory + Purchases - Closing inventory
= $10000 + $20000 - $5000
= $25000
Therefore, the cost of goods sold is $25000.
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brainly.com/question/24868116
Answer: False
Explanation: In simple words, regular partnership refers to a business arrangement in which two or more individuals combine their efforts for attaining common objectives like earning profit.
A partnership firm is not a separate legal entity, thus, the owners and firms are considered same leading to unlimited liability of the partners. But these entities also run their business on the assumption of continued perpetual existence and the ownership transfer is also very simple.
Hence from the above we can conclude that the given statement is false.
I believe that the bonds issued by the U.S government are the saving bonds. Corporate bonds are bonds issued by corporations in order to raise money for business expansion. Junk bonds are types of bonds that are lower rated however, they are potentially higher-paying. Municipal bonds are bonds issued by a state or local government for the purpose of financing social amenities and infrastructure such as improvements of highways, state buildings, libraries, parks and schools.
Options:A. LCM is an example of a company choosing the accounting method that will be least likely to overstate assets and income.
B.Under the LCM basis, market does not apply because assets are always recorded and maintained at cost.
C.The LCM basis uses current replacement cost because a decline in this cost usually leads to a decline in the selling price of the inventory item.
D.LCM is applied after one of the cost flow assumptions has been applied.
Answer:B.Under the LCM basis, market does not apply because assets are always recorded and maintained at cost.
Explanation: Lower cost of market(LCM) is a tenet of the Generally accepted accounting principles (GAAP). LCM(lower cost of.market) it is term used in the field of accounting to describe the cost for a given inventory based on the cost of its purchase as at the time it was purchased.
A company can make use of lower cost of market when trying to avoid overstating its cost and revenue,lower cost of market also considers that there is possibility of price changes when valuing an inventory.