Answer:
$360,000
Explanation:
Last in first out (LIFO) is a method used in inventory where the cost of most recently purchased goods is the one to be expensed first. Also current losses are the first to be reported.
An inventory loss incurred in a quarter must not be deferred, but recorded as items within an interim must be reported in the same period they were incurred, unless it can be redeemed before the end of the fiscal year. It is not considered a temporary item.
The loss reported in May will be reported for that quarter in June.
Answer:
Evans Company
General Journal
Part a.
Debit : Cash $645
Debit : Cost of goods sold $375
Credit : Sales Revenue $645
Credit : Merchandise $375
Part b.
Debit : Cash $432
Debit : Cost of goods sold $195
Credit : Sales Revenue $432
Credit : Merchandise $195
Part c.
Debit : Accounts Receivable $670
Debit : Cost of goods sold $438
Credit : Sales Revenue $670
Credit : Merchandise $438
Part d.
Debit : Credit Card fees $85
Credit : Cash $85
Explanation:
The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.
Answer:
$900
Explanation:
Given that
Total repair up to end of year = 12
Estimated need to be repaid = 8
Average cost = $45
The computation of warranty expense for the current year is shown below:-
For computing the warranty expense for the current year first we need to find out the total repaired cost which is here below
Total repaired cost = Total repair up to end of year + Estimated need to be repaid
= 12 + 8
= 20
Warranty expense for the current year = Average cost × Total
= $45 × 20
= $900
Therefore for computing the warranty expense for the current year we simply applied the above formula.
Answer:
2. When people spend money, that money ends up In the pockets or bank accounts of other people (or organizations) who then use that money in some way.
Explanation:
In the economy exist different types of agents: people, government and enterprises. No more.
Answer:
The first country invested in health care. It eradicated an epidemic that was weakening its present and future workforce. Its investment was successful because it made people productive again. The second country recognized the potential for productivity in young girls. By taking steps to train and educate them, the government made them eligible for quality employment. The second country's investment was successful because it strengthened its workforce and attracted foreign investment.
Explanation:
Edmentum (Plato) answer
