Answer:
Income Statement is attached in the pictures.
Explanation:
Answer: 5
Explanation:
The velocity of circulation is the average number of times that each dollar can be used for the purchase of goods and services in a year.
From the information given in the question, the velocity of circulation will be:
= Nominal GDP / Quantity of money
= $2000 / $400
= 5
Therefore, the velocity of circulation is 5.
Answer:
Yes it does as the company expect to pay for the warranty but doesn't know as it may occur or don't dependion upon the notebook hardware and software performance over the 90-days period
Warranty expense 29,500 debit
Warranty Liability 29,500 credit
Explanation:
We will record a warrant liability for the 5% of the mount sold. As the warranty liability is generated at the time of sale which occur in December
Answer: Equivalent units for conversion = 4870 units
Explanation:
Given that,
Beginning work in process inventory = 300 units
Beginning work in process inventory for conversion = 40% of 300 units
= 120 units
5,000 units were started in December.
Ending work in process = 500 units
Ending work in process inventory for conversion = 50% of 500 units
= 250 units
Units started and completed = 5000 - 500
= 4500 units
Equivalent units for conversion = 4870 units
B. Objectives. Grades are a result of the course