<span> Revenue </span>accounts or <span>Expense </span><span>accounts</span>
Answer:
$63,000
Explanation:
One of the four methods of determining insurance if the DINK method which means Double income with no kids.
To estimate the value of the insurance using this method , the sum of , mortgage , car loans and personal debt is divided by two and added to the funeral expenses
Mortgage - 100,000
Car loan - 11,000
Personal debt - 2000
Credit card - 3000
Total = 116,000
Insurance = (116,000/2) = 58,000
Funeral expenses - 5,000
=63,000
Answer:
Results are below.
Explanation:
Giving the following information:
Company 1:
Beginning inventory Merchandise $253,000
Cost of purchases 600,000
Ending inventory Merchandise 153,000
Company 2:
Beginning Finished goods $506,000
Cost of goods manufactured 930,000
Ending Finished goods 147,000
<u>To calculate the cost of goods sold, we need to use the following formula:</u>
<u></u>
COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory
<u>Company 1:</u>
COGS= 253,000 + 600,000 - 153,000
COGS= $700,000
<u>Company 2:</u>
COGS= 506,000 + 930,000 - 147,000
COGS= $1,289,000
Answer: $27,864
Explanation:
The amount that should be recorded as other comprehensive income is the fair value less the sales price and the amortized premiums to reflect the true value of the investment,
= 1,164,000 - 1,129,896 - 3,048 - 3,192
= $27,864
$27,864 is the amount Crane Company should report as other comprehensive income and as a separate component of stockholders’ equity.
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