Answer:
Adjusting Entry
Cost of goods sold (Dr.) $11,000
Beginning Inventory (Cr.) $6,000
Purchases (Cr.) $5,000
Closing Entry
Ending Inventory (Dr.) $2,000
Income Summary (Cr.) $2,000
Explanation:
The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.
The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.
Answer:portfolio Weight of A =0.6118; portfolio Weight of B=0.3882
Explanation:
stock A Investment = Number of shares x market value
=130 x 40 = $5200
stock B investment =Number of shares x market value
110 x 30 = $3,300
Total Investments= $5200
+ $3,300 = $8,500
portfolio Weight = stock Investment / Total investment
portfolio Weight of A= 5200/ 8,500 =0.6118
portfolio Weight of B = 3,300 / 8,500 =0.3882
Steam under pressure, dry heat, rubbing alcohol, buying a new one. its important to clean it after each use you might not have what you had yesterday.
Answer:
The answer is:
The inventory loss should be recorded entirely in the second quarter that ends in 6/30/2015 since losses have to be recorded as soon as the company recognizes them. The other quarters should not reflect any of the losses associated with this event.
Explanation:
The accrual accounting principle states that accounting transactions have to be recorded in the period when they actually happen. The conservatism principle states that liabilities and losses have to be recorded as soon as they are recognized.
Answer:
A. Both II and III
Explanation:
As the major customers information and the geographic areas information would be created by the ASC 280 as disclosure of enterprise wide standard that provide the information more related to the company risk. Also it is needed to the public entities to disclose the information with respect to the operating segments i.e. reportable in the finished financial statements set
Therefore the correct option is A.
