Answer:
C. $2,018.00.
Explanation:
The computation of the lower cost or market value is shown below:
For Jelly
= 150 units × $2 per unit
= $300
For Jam
= 370 units $2.50
= $925
And, for Marmalade
= 260 units × $3.05
= $793
So, the total inventory is
= $300 + $925 + $793
= $2,018
It is come by multiplying the quantity of each one by its lower cost or market value per unit
Answer:
Inventory $200,000
Cash $50,000
Notes payable $150,000
Explanation:
Data provided in the question:
Cost of the inventory purchased = $200,000
Amount paid in cash = one-fourth
= one-fourth of $200,000
= $50,000
For the remaining balance signed a note i.e = $200,000 - $50,000
= $150,000
Now,
This transaction will be recorded as:
Inventory $200,000
Cash $50,000
Notes payable $150,000
Answer:
Throughout my home, there are many objects that were made in many different places. These objects, though they may seem pedestrian, are highly significant in their ability to help and serve. One of these objects includes my television. This trade occurred at Best Buy, where I gave $5,000 U.S dollars in turn for a continuous flow of information. I have since been positively impacted, as I am always aware of my surroundings (I.e. news) and I can keep up with the latest shows. Another example is my refrigerator. My refrigerator allows me to, once again, connect to the internet and keep in touch with those around me. This product has also impacted me, as it makes life much easier. When at the grocery, I am able to search on my phone and look inside to see what I may, or may not, need.
Explanation:
Answer and Explanation:
The adjusting entry is as follows
Interest Expense ($455,000 × 6% × 6 months ÷ 12 months) $13,650
To Interest payable
(Being interest expense is recorded)
here the interest expense is debited as it increased the expenses and credited the interest payable as it also increased the liabilities
The six months is calculated from Jan 1 to June 30
