Answer: The correct answer is <u>".B. There is no beginning inventory.".</u>
Explanation:
The weighted average method produces the same cost of manufactured goods as the FIFO method (First in First out) when there is no beginning inventory because there are no units at the beginning that drag the cost.
Answer:
Future value is $14,944.22
Interest earned is $7444.22
Explanation:
The amount to earn from Second City Bank is the interest that would have been received at the end of the eight years,
In order to determine the amount of interest,it would be nice to first of all compute the future value-the worth of the savings at the end of eight year using the below formula:
FV=PV*(1+r)^N
PV is the $7,500 invested
r is the compound rate of return is 9%
N is the number of years the amount was invested which is eight years
FV=$7,500*(1+9%)^8
FV=$ 14,944.22
Hence Interest =FV-PV
=$ 14,944.22 -$7,500
=$7444.22
Answer:
a. Transfer or receivables with recourse should be recorded as a sale only when the following conditions are met:
- The future economic benefits of the receivables have been surrendered by the transferor.
- The transferor's obligation under the recourse provision can be reasonably estimated.
- The transfer can require the transfer to repurchase the receivables.
b. attached as a dcoument of excel.
Explanation:
Entry journal corporation for beyonce Corporation in document attached.
Answer:
increase
Explanation:
Transaction cost is the cost needed for every exchange. This cost can be external or internal. External transaction cost comes from the cost to do an exchange with a second party while internal cost comes from the company itself.
The Martinez Legal Firm acquired a competitor so their business size will increase for sure. Larger businesses will become more complex and need more management. These will, in turn, increase the internal transaction cost.
Answer:
See below.
Explanation:
Since the expenses are related to the formation of the business, we first capitalize these expenses and record them in our balance sheet as,
Debit Intangible Assets (Formation) by $48,500
Credit Cash/Bank by $48,500
This records an asset for the year of operation.
We amortize or depreciate these type of capitalized costs over a defined period of time. Assuming that we write off the entire cost by the end of first year we will record amortization as,
Debit Amortization expense/Income statement by $48,500
Credit Intangible Assets (Formation) by $48,500
Hope that helps.
