Hi there
The journal entry would be
debit to telephone expense for $300
Credit to cash for $300
Good luck!
Answer:
$86,000
Explanation:
FIFO means first in, first out. It means that the first purchased inventory is the first to be sold.
This means thay the 500 units sold would be taken from the earliest purchased inventory and the ending inventory would be the most recently purchased inventories.
Ending inventory = (80 × $150) + (370 × $200) = $12,000 + $74,000 = $86,000
I hope my answer helps you
If Jamie would like to compare one savings account to
another savings account, and that he compares the amount of the interest he
will earn in one year in each account, it is likely that he is demonstrating
the annual percentage yield. This is where the annual rate return exist in
which the effect of copound interest is being taken into account.
hope this helps
Fixed Costs: 420,000
Variable Costs: 65%
Your BREAK-EVEN Point is: $1,200,000 USD or 600 Units @ $200 Each
B.) It is known as EQUILIBRIUM CONSTANT.
