Answer: Prime rate is the interest rate that banks charge their preferred customers, or those with the highest credit ratings.
Answer:
<u>total</u>
Explanation:
Remember, a LIFO method of accounting for inventory differs in that it records the most recently produced items as sold first; meaning Last in, First Out. Thus leading to recording the lowest cost of older products in the inventory.
A case of lower Net income (income after deductions of cost) thus exists if revenues are sufficient to cover the total cost of the units of inventory sold which reduces taxes.
The company's diluted earnings per share is $4.09
<h3>What is Diluted Earnings per share?</h3>
A metric known as "diluted EPS" is used to assess how well a company's earnings per share (EPS) would perform if all convertible securities were exercised. The entire circulating supply of convertible preferred shares, convertible debentures, stock options, and warrants are considered convertible securities. Take a company's net income to determine diluted EPS.
Net income - any preferred/ by the sum of the weighted average number of shares outstanding and dilutive shares (convertible preferred shares, options, warrants, and other dilutive securities).
$5000-$500/1,100= $4.09
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Answer:
a) See the image attached for the sheet of closing entry
b) New balance = (174000-111000-12000) = 51000
