Answer:
$700
Explanation:
The journal entry to record the purchase should be:
November 30, Merchandise purchased from Ganster Company
- Dr Merchandise Inventory account 700
- Cr Cash account 700
Since the freight charge was added to the invoice, then the total invoice will = $600 + $100 = $700
When a company purchases FOB shipping point, the title of the goods passes at the seller's shipping dock. Therefore the merchandise inventory must increase once the goods have left the seller's shipping dock.
Answer: Understated and Overstated
Explanation:
Cost of good sold is the addition of Opening stock to the purchases and subtracting closing stock, the omission of $10,000 will reduce it. Invariably a reduction in cost of sales will overstate income.
Answer:D $750
Explanation:
This is a way an individual optimise his consumption and his savings habit for their future.
It has to do with the future of any individual and plans are made for the future.
An individual can plan to spend more now and save a little or spend a little now and safe for the future.
Answer:
A) The policy would provide a maximum of $100,000 for each person who was injured, and no more than $300,000 for total injuries of all parties in the accident.
Explanation:
The auto liability insurance policy held by the driver is an example of a split limit liability insurance. The split limit insurance of 100/300/50 is explained thus:
$100,000 - bodily injury liability insurance per person
$300,000 - Total bodily injury liability insurance per accident
$50,000 - Property damage liability per accident.
Answer:
Earnings per share for 2017 = $1.707
Explanation:
Earnings per share relates to the specific period, that how much on each individual share the earnings has been during the period.
Therefore, if there is change in number of equity shares average is taken, for that.
Equity on 1 Jan 2017 = 160,000 shares
Equity on 31 December 2017 = 250,000 shares
Average = 
Earnings per share for 2017 = 
= 
Earnings per share = $1.71 (Rounded off)
