Answer:
Option (A) A debit to inventory for $200
Explanation:
The entire cost of purchasing products (including the cost of having the inventory shipped to the buyer) is reported as part of the cost of the inventory in a perpetual inventory system.
The entry of paying the charges for shipping is included in debit to inventory for $200 and a credit to cash for $200.
Hence,
The answer is option (A) A debit to inventory for $200
Answer:
Regency Bank : $51,347.27
King Bank : $46,590.99
Explanation:
The formula for calculating future value:
FV = P (1 + r)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
Regency Bank : $7,600 x (1.01)^(16 x 12) = $51,347.27
King Bank : $7600 x 1.12^16 = $46,590.99
Answer:
$455,000
Explanation:
Given that,
high speed industrial centrifuge at a cost = $420,000
Shipping costs = $15,000
Foundation work = $8,000
additional water line = $3,000
Labor and testing costs = $6,000
Materials used up in testing = $3,000
Total Costs to be capitalized:
= High-speed industrial centrifuge + Shipping costs + Foundation Work + Additional Water Line + Labor and testing costs + Materials used in testing
= $420,000 + $15,000 + $8,000 + $3,000 + $6,000 + $3,000
= $455,000
Answer:
$137,800
Explanation:
A flexible budget uses the standard hour and costs adjusted to Actual level of output
thus
Flexible budget amount for direct labor = 2 x 2,600 units x $26.50 = $137,800
A certificate of deposit (CD) would be the best banking
choice when the interest rate is determined ahead of time and there is an
assurance to get back what you put in plus interest once the CD matures. If you leave the money alone during the
investment period then the bank will pay you an interest rate slightly higher
than what you would have earned in a money market or checking account. Thus,
all gains from certificate of deposits are taxable as income unless they are in
a tax-deferred (IRA) r tax-free (Roth IRA) account.
