Answer:
A. Debiting Cost of Goods Sold $7,000
Explanation:
The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.
At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, but a physical inventory taken at year-end indicates only 50 units of this product actually are on hand. So 10 units of the product was shrinkage.
The company should debit Cost of Goods Sold to record this inventory shrinkage.
Anderson Co. use LIFO method, the amount shrinkage product:
10 x $700 = $7,000
Answer:
The dollar value of an 01 is:
$78.4472
Explanation:
a) Data and Calculations:
Bond coupon = 7.6%
Current price = $1,032.20
The yield to maturity value = $1,032.20 * 1.076 = $1,110.6472
Dollar value of an 01 = $1,110.6472 - $1,032.20 = $78.4472
b) In calculating the dollar value of the bond, which is a measure of the change in the value of the bond portfolio for every 100 basis point change in the interest rates, this is referred to as DV01 (that is, dollar value per 01). Often denoted as 100 basis points (bps), 0.01 is equivalent to 1 percent.
Answer:
The correct answer here is option b.
Explanation:
When here is an increase in capital, the firm would like to produce more. So, the demand for labor would increase. Though the supply of labor would remain the same as it is not affected by the change in capital.
With the shift in the demand curve, the quantity of labor hired would increase as well. With no change in labor supply, the wage rate will increase as well.
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Answer:
Option (d) is correct.
Explanation:
Given that,
Inventory sold to Alberta, Inc. on account = $5,800
Cost of goods sold = $4,000
The journal entries are as follows:
(i) On October 1,
Accounts receivable A/c Dr. $5,800
To sales A/c $5,800
(To record the credit sale of inventory)
(ii) On October 1,
Cost of goods sold A/c Dr. $4,000
To Merchandise inventory A/c $4,000
(To record the cost of goods sold)
