Answer:
Closing inventory based on Specific IDENTIFICATION
7 Dec purchase ( 20-16) = 4 * $16 = $64
14 Dec purchase ( 35 -14) = 21*$24 = $504
21 Dec purchase 30*$29 = $870
closing inventory 31 Dec <u>= $1438</u>
Explanation:
The question is incomplete but here is a complete one
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 30 units for $40 each.
Purchases on December 7 20 units @ $16.00 cost
Purchases on December 14 35 units @ $24.00 cost
Purchases on December 21 30 units @ $29.00 cost
Required:
Monson sells 30 units for $40 each on December 15. Of the units sold, 16 are from the December 7 purchase and 14 are from the December 14 purchase. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on specific identification.
The answer, in my opinion, has to only beB
You should give her the rest of the change when she returns, but mention it to the manager immediately. The manager should know what happened.
A corporate bond would give the higher rate because it would be for a minimum term like say 1 year whereby the financial institution can lend out the money to someone else and from the interest on that can pay a significant return whereas interest on a chequing account will be very low since the balance will go up and down over a month or year so there is no guarantee to the financial institution of having the money long enough to earn some money on it.
The central bank introduced interest rates on checking accounts which induced people to move funds from savings to checking accounts.
Explanation:
Federal legislation restricts the amount of deposits or loans that you may make from a bank or credit union savings or money market account to six per month. When you reach the cap, the bank may charge you a fee — or you can close your account or convert it into a check account.
Another method to transfer funds from investments and bank accounts is through the use of online payment services such as PayPal, Venmo, etc. You must first transfer money out of your savings account to the corresponding payment app wallet and then submit the necessary amount from the bank to the check account.
