Answer:
The amount of the cost of goods sold for this sale is $386
Explanation:
For computing the cost of goods sold, first, we have to find out the per unit of the cost which is shown below:
Per unit of cost = (Total purchase cost) ÷ (total units purchased)
where,
Total purchased units = Number of units × purchase price per unit + Number of units × purchase price per unit
= 30 units × $11 + 35 units × $13
= $330 + $455
= $785
And, the total units purchased equal to
= 30 units + 35 units
= 65 units
Now put these values to the above formula
So, the per unit would equal to
= $785 ÷ 65 units
= $12.07 per unit
So, the cost of goods sold equal to
= Number of units sold × per unit
= 32 units × $12.07 per unit
= $386.46
$5200 is the amount of service revenue should be recorded as an adjusting entry on December 31, 2018
Solution:
Athens Delivery Service is hired on October 31, 2018 to perform services:
=> 6 month contract at $2,600 a month
Then , Nov 1 - Dec 31 = 2 months
i.e 2,600 * 2 = $5200
$5200 is the amount of service revenue should be recorded as an adjusting entry on December 31, 2018
The answer to this question is Convertible Term Insurance.
Convertible Term Insurance is a type of insurance where in the policy holder
can change a term policy for a whole policy without doing the medical
examination that is required to new application of plans. Term insurances is an
insurance that has a limited coverage period but it can be renewed and can be
convertible to permanent life insurance when the plan is already matured.
