Answer:
The correct answer is B.
Explanation:
Giving the following information:
Rossini Company has budgeted production for next year as follows: Quarter First Second Third FourthUnits to be sold 53,400 80,200 94,000
At the end of each quarter, Rossini would like to have an inventory equal to 10% of the sales units of the next quarter.
Production:
2nd Quarter= 80,200
Ending inventory= (94,000*0.10)= 9,400
Beginning inventory= (80,200*0.10)= 8,020 (-)
Total= 81,580 units
Answer:
Sold at Premium (C)
Explanation:
Here, the proceeds from the bond issue ($760,000) is higher than the par value of the bond ( $750,000 ) , meaning that it has been issued at premium.
The excess of cash received over the par value of the bond should be credited to premium on Bond payable Account .
Then, the excess of effective interest charged over interest paid will be used to write-off the premium on bond payable for the period of the bond.
Answer:
Updated ending cash balance is $ 19,830
Explanation:
Balance as per cash book $ 20,000
Less: NSF Cheques $( 200)
Add: Interest earned <u>$ 30</u>
Adjusted cash balance $ 19,830
Outstanding cheques represent checks issued but not presented so these are already recorded in the cash book at the time of issuance.
Similarly, the deposits outstanding have been recorded when collected,
The above two items are used to adjust the bank statement balance in a bank reconciliation.
Answer:
Instructions are listed below
Explanation:
Giving the following information:
Cash Flow:
Year 2 $ 22,400
Year 3 $40,400
Year 5 $58,400
i= 0.092
A) n= 5
FV= PV*(1+i)^n
FV= 22400*(1.092^3)= $29,168.62
FV= 40400*(1.092^2)= $48,175.55
FV= 58,400
Total= $135,744.17
B) n= 10
FV= $210,782.41
