Answer:
$656.40
Explanation:
The average perpetual inventory system is one in which the carrying amount of the closing balance is determined by the unit price of every purchase.
As items are purchased/sold out, the closing balance is adjusted with the movement reflected in the account balance.
Average price of purchases per unit
= (28 × $21 + 22 × $23) / (28 +22)
= $1094/50
= $21.88
Since 30 units were sold, cost of goods sold
= $21.88 × 30
= $656.40
Answer: A. they have expertise in a focused technical topic
Explanation:
Answer:
Explanation:
Before showing how short term debt should be presented before doing this we have to classify the items in each head
Like - In current liabilities, notes payable is recorded at $11,500
And, in the long term liabilities, the proceed after brokerage fees for $1,147,500 should be recorded.
The total amount would remain the same i.e $1,159,000
Kindly find the attachment below:
Answer:
Average rate = $1.55
Explanation:
Normally all companies use the current rates for the transaction, revenue department and profit loss, but it is not fair to use the same current rate on different dates.
Therefore, businesses usually use average exchange rates to overcome these kinds of shortcomings.
Therefore in this example, it would be appropriate to use the average exchange rates by the parent company to find the income of the subsidiary.
<span>True. Every person who signs a negotiable instrument is liable for payment of that instrument when it comes due. Once a signature is put on the instrument it makes the person liable for payment on it.
True. An acceptor is primarily liable on an instrument. An acceptor is a bank or someone who promises to pay an instrument it is presented for payment.
True. Warranty liability on a negotiable instrument does not require a signature and extends to both signers and non signers. A warranty liability comes up when a person is trying to negotiate the instrument.
False. The dishonor of an instrument relieves secondary parties of liability. If someone is in dishonor of an instrument they are held secondarily liable of the instrument. The notice of dishonor is a formal act letting the party know they are being held secondary liable. </span>
