Answer:
True cost of the microwave is in 99% confidence interval: 
Explanation:
Relevant data:
As we want to know the 99% confidence interval, the significance level is:
We need to estimate a confidence interval by a two tailed normal bell. Then we have:
The z-value for a probability of 0.005 in a normal standard distribution is 2.576
Confidence interval is given by;:
True cost of the microwave is in 99% confidence interval:
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Below are the choices that can be found form other sources:
A. $8,710
B. $8,056
C. $8,640
D. $8,678
E. <span>$8,299
</span>
The amount of money will he have at the end of five years is C $8,640
Answer: a. When inventory purchase costs are rising.
Explanation:
Last In First Out is an inventory stock valuation method where newer inventory is sold first and older inventory are sold last.
When a LIFO liquidation occurs, it means that the company has sold off its new stock and are now selling the older one.
This will lead them to have a lower cost of goods sold as the older stock is usually cheaper. If Inventory purchase costs are increasing in the market, then sales prices will have to increase as well. The company will sell at this new price but will still have that lower cost of goods sold.
This means that they would have more profits as a result which will lead to more taxes being charged on them.
Answer:
STOCKHOLDERS EQUITY
Common Retained Stockholders
stock earnings equity
Beginning balance January 1 153.000 53.000 206.000
Issuance of common stock 43.000 43.000
Net income for the period 33.000 33.000
Cash Dividens (10.300) (10.300)
Ending balances December 31 196.000 75.700 271.700
BALANCE SHEET
Cash 52.900
Supplies 11.200
Prepaid Rent 25.500
Land 215.000
Total Assets 304.600
Account payable 8.100
Utilities payable 3.000
Salaries payable 3.800
Notes payable 18.000
Total liabilities 32.900
Common stock 196.000
Retained earnigs 75.700
Total stockholders 271.700
Liablities and
Stockholders 304.600
Explanation:
STOCKHOLDERS EQUITY
Common Retained Stockholders
stock earnings equity
Beginning balance January 1 153.000 53.000 206.000
Issuance of common stock 43.000 43.000
Net income for the period 33.000 33.000
Cash Dividens (10.300) (10.300)
Ending balances December 31 196.000 75.700 271.700
BALANCE SHEET
Cash 52.900
Supplies 11.200
Prepaid Rent 25.500
Land 215.000
Total Assets 304.600
Account payable 8.100
Utilities payable 3.000
Salaries payable 3.800
Notes payable 18.000
Total liabilities 32.900
Common stock 196.000
Retained earnigs 75.700
Total stockholders 271.700
Liablities and
Stockholders 304.600
Answer:
The credit entry for the issue of 5000 shares is:
Cr Treasury stock $100,000
Cr Paid-in capital from treasury stock $35,000
Explanation:
The par value of the common stock issue($20 per share) is credited to treasury stock account, while the excess of issue price of $27 over the par value of $20, $7 per share is credited to paid-in capital from treasury stock
The full double entries for the issue of 5000 shares is as follows:
Dr Cash ($27*5000) $135,000.00
Cr Treasury stock($20*5000) $100,000
Cr Paid-in capital from treasury stock($7*5000) $35,000
Under International Financial Reporting Standards, the credit entries would be that par value is credited to equity share capital and the excess credited to share premium account.
