I guess you have loss in the given situation even if your company doesn’t have AFC
Answer:
= $5,062.5
Explanation:
A municipal bond represents a security usually of debt used primarily for capital expenditure financing by the government of a municipality, a state or a county. Such capital expenditure includes building infrastructures such as roads, schools, hospitals, bridges among several others.
Municipal bonds are usually exempted from taxes; federal taxes and even in quite a number of states both the state and the local taxes. This is done to motivate the people to purchase the bonds.
To calculate the price of the bond in dollars, the step is to
Multiply the Municipal bond quote (in percentage) by the Municipal bond par value
= Municipal bond quote = 101.25%
Municipal bond par value= $5,000
= 101.25% x $5000
= $5,062.5
Answer:
True
Explanation:
A buisness customer records every transaction to see how the transaction was
Answer:
$2,468,000
Explanation:
LIFO reserve = “Allowance to Reduce Inventory to LIFO” = the difference between the inventory method used for internal reporting purposes and LIFO.
LIFO effect = the change in the Allowance balance from one period to the next = the adjustment that companies must make to the accounting records.
Dr Cost of Goods Sold $168,000
($486,000- $318,000)
Cr Allowance to Reduce Inventory to LIFO $168,000
$2,300,000 +$168,000 =$2,468,000
Therefore the amount that Bramble should report as Cost of Goods Sold in the 2018 income statement is $2,468,000