Answer:
$360,000
Explanation:
Last in first out (LIFO) is a method used in inventory where the cost of most recently purchased goods is the one to be expensed first. Also current losses are the first to be reported.
An inventory loss incurred in a quarter must not be deferred, but recorded as items within an interim must be reported in the same period they were incurred, unless it can be redeemed before the end of the fiscal year. It is not considered a temporary item.
The loss reported in May will be reported for that quarter in June.
Answer:
The correct answer is (c)
Explanation:
Bonds and stocks are used to generate financing. The city of Fargo has issued bonds to finance the construction of a new fire station. The bond is a type of debt funding and the premium must be transferred to a debt service fund. A debt service fund will be used to pay out the principal payments on those bonds.
Answer:
In this problem it is necessary to propose and solve the following system of equations:
0.15 X + 0.10 Y + 0.06 Z = 0.09 * 250,000 (1)
X + Y + Z = 250,000 (2)
Z = 2 ( X + Y ) (3)
Being the variables
X = $ invested in high-risk stocks
Y = $ invested in medium-risk stocks
Z = $ invested in low-risk stocks
Explanation:
Equation (1) tells us that the sum of the amounts invested in each type of action multiplied by its expected return, is equal to the return that is desired for the entire investment (9% of $ 250,000).
Equation (2) says that the sum of the investments must be equal to the money available to invest.
Equation (3) requires that money invested in low-risk shares (Z) be equal to twice the amount invested in the other two categories.
