Answer:
242.65
Explanation:
Data provided in the question:
year 2011 2012 2013
Salary $65,000 $72,000 $76,000
Consumer Price Index 226 230 235
Real Interest Rate 2.5% 2.7% 1.8%
Nominal interest rate for 2013 = 7.3%
Now,
Rate of inflation for 2013 = Nominal rate - Real rate
= 7.3% - 1.8%
= 5.5%
Therefore,
CPI in 2013 = Consumer Price Index in 2012 × (1 + inflation )
= 230 × ( 1 + 0.055 )
= 242.65
Answer:
26,920
Explanation:
At $10 par value,
Number of authorized shares = 30,000 (given)
Number of issued shares = $270,000/$10 = 27,000 shares
Number of treasury shares = $1,200/$15 = 80 shares
Since Treasury shares do not form part of outstanding shares, they will be deducted from issued shares to obtain outstanding shares
Therefore, number of outstanding shares
= 27,000 - 80
= 26,920 shares
Answer:
Emergency
Explanation:
Always have extra money for problems that arise.
Answer:
B. debit to WIP inventory
Explanation:
The journal entry to record the usage of direct material in production is
Work in Process Inventory Dr.
To Raw Material Inventory
(Raw materials consumed recorded)
Raw material inventory is an asset. It's consumption should reduce it's balance. A debit increases an asset's balance while a credit reduces it's balance.
Work in process, like raw material is an inventory account i.e an asset. A debit increases their balance whereas a credit reduces it.
Here, raw materials i.e direct material have been issued for production, which would reduce their balance and increase the balance of work in process as finished goods are yet to be made.
