It’s A because if u multiple the ounces and add them together the make less then 4,800
Answer:
b) income statement as a $2,320,000 cumulative effect of accounting change
Explanation:
Base on the scenario been described in the question, The change in inventory steps to FIFO from LIFO which made an increase in Inventory should be recorded in the retained earnings statement as a $2,320,000 addition to the beginning balance. Option b is the answer
Answer:
The accounting process begins with Analysis of business transactions and source documents
Explanation:
The Accounting process begins by<em> identifying the transactions and events</em> that occurred in the business.
After identification, the events and transactions have to be<em> recorded in appropriate Account</em> using the <em>proper books of entry</em>.
A list of Balances known as the <em>Trial Balance</em> is then computed when the Accounts are closed.
The Trial Balance is then used <em>to prepare financial statements</em>.
Financial Statements are then <em>Analysed</em> to assist various stakeholders and users of financial statements to <em>make decisions</em>.
Answer:
You are given the following information for Watson Power Co. Assume the company’s tax rate is 22 percent. Debt: 12,000 6.1 percent coupon bonds outstanding, $1,000 par value, 27 years to maturity, selling for 109 percent of par; the bonds make semiannual payments. Common stock: 450,000 shares outstanding, selling for $63 per share; the beta is 1.14. Preferred stock: 19,500 shares of 3.9 percent preferred stock outstanding, currently selling for $84 per share. The par value is $100 per share. Market: 5 percent market risk premium and 4.9 percent risk-free rate.What is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
$1,500
Explanation:
Calculation for the amount of investment interest expense deduction for the year
Using this formula
Investment interest expense deduction=Interest income+ Nonqualifying dividend
Let plug in the formula
Investment interest expense deduction=$500+$1,000
Investment interest expense deduction=$1,500
Therefore the amount of investment interest expense deduction for the year will be $1,500
