Answer:1. $7720
2. $7945
3. $7758
Explanation: 1. First in First out method which means the first inventory to be purchased by company will be the first to be sold.
Total cost of Sales = Total number of units Sold * Total Cost of inventory sold
= 100units*$5+ 300units*$5.30+ 200units*$5.35 + 450units*$5.60
=$7720
Total units sold=1450 we started from first inventory which was the balance of inventory of 100 units downwards up to the 1450th unit sold that was purchased on the 26th of April by the company.
2. Last in first out method is where the last bought inventory is sold first.
Total cost of sales= Total number of units sold * Total cost of units sold =200units$*5.80+ 600units*$5.60+ 200units*$5.35+300units*$5.30+150units*$5.1
=$7945
Total units sold still 1450 but we calculated the cost from the last purchased unit from 30th April to the 1450th unit sold which was on the 12th of April.
3. Average Cost = (Sum of all costs/Total number of costs)* total units sold
= (($5+$5.1+$5.3+$5.35+$5.6+$5.8)/6)* 1450
=$7769.58
Answer:
<em>If less than 25’, use a shallow well jet pump</em>
Explanation:
A typical well water system lifts water from an underground well and delivers it to a storage tank where it’s pressurized and stored until it’s needed. Most pumps are electric and use suction to draw the water through pipes.
A motorized jet pump assembly includes the pump that moves the water from the wall and a motor to dive the pump. It’s often paired with a pressure tank, which evens out the water throughout the home.
Answer:
Peridot should report net cash outflows from investing activities of: $46 million
Explanation:
Peridot Corporation
Statement of cash flows (extract)
$ in millions
Purchase of machinery ($36)
Proceeds from sale of land 70
Cash paid to acquire office equipment (80)
Net cash flows from investing activities ($46)
Note that reacquired common stock belongs to financing activities section of the cash flows, while gain from sale of land and investment revenue belong to operating activities section of the cash flows
Answer:
Promissory Note.
Explanation:
A signed document containing a written promise to pay a stated sum to a specified person/institution or the bearer at a specified date is known as promissory note.
A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.
To record final annual interest and bond repayment:
2017
Mar 1
Bonds interest expense $25,400
Bonds payable $254,000
Cash $279,000
On March 1, 1997, the date of issuance, the entry is:
1997
Mar 1
Cash $254,000
Bonds payable $254,000
On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)
Mar 1
Bond Interest Expense ($100,000 x 12% x 1) $25,400
Cash $25,400
