Answer:
The correct answer is option (a).
Explanation:
According to the scenario, the given data are as follows:
Purchase Bonds = 60
Purchased bonds value = $60,000
So Purchased value of 30 bonds = $60,000 ÷ 2 = $30,000
Sold 30 bonds at value = $32,000
So, we can calculate the gain on sale by using following formula:
Gain on sale = Sold 30 bonds at value - Purchased value of 30 bonds
By putting the value, we get
= $32,000 - $30,000
= $2,000
Answer:
$118,220
Explanation:
The Costs of Goods Sold COGS is calculated using the following formula.
COGS = Beginning inventory + purchases - Ending Inventory
For Azur company
Beginning inventory: 30,840
Ending inventory : 20,560
Net purchases equal Net purchase equal to purchases plus freight-in minus discounts freight-out are administrative expenses, hence do not feature in COGS
Net purchases =$102,800 + $15,420 -$ 10,280
Net purchases =$107,940
COGS = $30,840 +$107,940 -$20560
COGS = $118,220
Answer:
Explanation:
Rate per period =15% = 15/12 monthly
Payment(PMT)=$1,000
Future amaount(FV)=$2,000,000
N(years)=?
If input this data into fin calculator, n= 262.27months=262.27/12years=21.86years
Answer:
Consistency principle
Explanation:
Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.
Accounting principles include:
- Accrual principle
- Conservatism principle
- Consistency principle
- Cost principle
- Economic entity principle
- Full disclosure principle
- Going concern principle
- Matching principle
- Materiality principle
- Monetary unit principle
- Reliability principle
- Revenue recognition principle
- Time period principle
Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.
In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.
This is an example of consistency principle
Answer: 4) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage.
Explanation:
The Business Analysis stage of the New Product Development Process is a more in-depth analysis of the product to find out the viability of the product in the market and what it means for the firm.
Here the big questions are asked such as;
- The Cost of the product to produce
- If adequate profit will be generated
- Projected market demand
- Existing competitors etc
Once these questions have been answered and other analysis made and the company is satisfied, the product can then move to the Product Development Stage.
