Answer:
Ending inventory = $227
Cost of good sold = $1,333
Explanation:
Note: The data in the question are merged together and they are first sored before answering the question as follows:
Date Transaction Number of Units Unit Cost Total Cost
Jan. 1 Beginning inventory 20 $55 $1,100
Sep. 8 Purchase <u>10 26 260 </u>
Total <u>30 $1,360</u>
The explanation to the answers are now as follows:
Weighted cost per unit = $1,360/30 = $45.3333
Ending inventory = (30 - 25) * $45.3333 = $227
Cost of good sold = 25 * $45.3333 = $1,333
Answer:
Check the explanation
Explanation:
Journal entries (figures in million)
s.no Particulars Debit Credit
2 No entry on grant date
3 Compensation expenses (45/3) 15
paid in capital-restricted stock 15
4 Compensation expenses 15
paid in capital-restricted stock 15
5 Compensation expenses 15
paid in capital-restricted stock 15
6 paid in capital-restricted stock 45
common stock 5
paid in capital -excess of par 40
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Answer:
Dividend paid = $0.64 x 158,000 = $101,120. The dividend paid reduces retained earnings by $101,120.
The correct answer is C
Explanation:
Dividend is paid out of profit after tax. This reduces the retained earnings of the company since dividend involves outflow of cash.
