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3 years ago

5

Landon jewelers uses the perpetual inventory system. on april 2, landon sold merchandise with a cost of $3,500 for $8,000 to a c

ustomer on account with terms of 1/15, n/30. the journal entry to record the cost of goods sold would be:

1 answer:

il63 [147K]3 years ago

5 0

<span>the journal entry to record the cost of goods sold would be n = 3500, t = 1/15, n/30</span>

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Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000

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Answer:

Calculation of Cost of Goods sold under LIFO:

For 3,000 units (3000*40) $120,000

For 400 units (400*25) $10,000

Add: Excess of replacement cost over historical $8,000

cost of LIFO liquidation (400*(45-25))

Cost of Goods sold under LIFO $138,000

Journal entry

Date Account Titles and Explanation Debit Credit

Cost of Goods sold $138,000

Inventory (120000+10000) $130,000

Excess of replacement cost over $8,000

historical cost of LIFO liquidation

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3 years ago

Qin Corp. issued 15-year bonds two years ago at a coupon rate of 5.1 percent. The bonds make semiannual payments. If these bonds

Rina8888 [55]

Answer:

5.54 %

Explanation:

Most Bonds are expressed per $100. I will use this as the Face Value.

We can then calculate the Yield to Maturity (YTM) of the Bonds as follows :

<em>PV = ($100 x 96 %) = - $96</em>

<em>PMT = ($100 x 5.1 %) ÷ 2 = $2.55</em>

<em>N = (15 - 2) x 2 = 26</em>

<em>FV = $100</em>

<em>P/YR = 2</em>

<em>YTM = ??</em>

Using a Financial Calculator to input the values as above, we get a YTM of 5.54 %

8 0

3 years ago

If Kelly deposits $10,000 into an account that pays 8 percent interest, compounded annually, and she makes no further deposits o

avanturin [10]

Answer:

C) $14,693

Explanation:

Compound interest considers the return on investment (or interest) to be reinvested and provides return as well. Future value of principal value considering compound interest can be determined by below formula:

$FV = P(1+\frac{r}{n})^{nt}$

where

$FV = ?$ is the future value

$P = \$10000$ is the principal amount invested

$r = 8\%$ is the rate of interest

$n= 1$ is the number of times interest is compounded within one time period

$t = 5 years$ is the number of time periods

$FV = P(1+\frac{r}{n})^{nt}$

$FV = 10000*(1+\frac{0.08}{1})^{1*5}$

$FV = \$14693$

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4 years ago

Suppose you own 500,000 shares of common stock in a firm with 40 million total shares outstanding. The firm announces a plan to

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Answer:

62,500 shares

Explanation:

common stock = 500,000 shares

Total shares outstanding = 40 million

Percentage of existing holding:

= (Shares of common stock ÷ Total shares outstanding) × 100

= (500,000 ÷ 40,000,000) × 100

= 1.25%

New shares that can be purchased:

= Number of new shares sold × Percentage of existing holding

= 5 million × 1.25%

= 62,500 shares

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3 years ago

A human resource employee who works in many different areas likely has a ______ job. a. generalist b. knowledge c. technical d.

Elena L [17]

Answer:

A human resource employee who works in many different areas likely has a <u><em>generalist </em></u> job

Explanation:

A generalist will have a good knowledge over several areas thus; it can combine ideas from this areas and and apply them into the different taks given.

An specialist will only focus on a given area and will not switch into another as it doens't have the knowledge to do so.

technical will also focus on their particular skills.

5 0

3 years ago