Answer:
$1,510
Explanation:
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
The business had a total of 40 inventories.
The inventories sold = 40 - 20 = 20
The cost of the goods sold would first be alloted to the 3rd purchased inventory = 10 x $77 = $770
The remaining cost of goods sold would be allocated to the 2nd purchase of inventory = 10 x $74 = $740
Total = $740 + $770 = $1,510
I hope my answer helps you
The answer is option b, that is false.
When texting or instant messaging on the job, we have to worry about our grammar and spelling, we should always use good grammar and <span>correct spelling </span>to get the job and we should also avoid abbreviations, slang and unnecessary things.
Explanation:
The journal entries are shown below:
a. Bad debt expense A/c Dr $13,931
To Allowance for doubtful debts $13,931
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% - $2,921
= $13,931
b. a. Bad debt expense A/c Dr $17,722
To Allowance for doubtful debts $17,722
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% + $870
= $17,722
Answer:
14.60%
Explanation:
The computation of market rate of return is shown below:-
Market rate of return = (Dividend × (1 + Growth rate)) ÷ Current price of stock + Growth rate
= ($2.8 × (1 + 3.8%)) ÷ 26.91 + 0.038
= ($2.8 × 1.038) ÷ 26.91 + 0.038
= $2.9064 ÷ 26.91 + 0.038
= 0.108 + 0.038
= 14.60%
So, for computing the market rate of return we simply applied the above formula.
