Business, 17.02.2020 20:55 peytondavis2424
Assuming purchase costs are declining and a periodic inventory system is used, determine the statements below which correctly describe what is happening to cost of goods sold under FIFO, LIFO and weighted average cost flow methods. (Check all that apply.)a. Companies using FIFO will report the smallest cost of goods sold.
b. Companies using FIFO will report the highest gross profit and net income.
c. Companies using LIFO will report the smallest cost of goods sold.
d. Weighted average cost of goods sold will be between FIFO and LIFO costs of goods sold.
e. Companies using FIFO will pay higher taxes than companies using LIFO, assuming all else being equal
Answers: 1
Business, 21.06.2019 15:10
Pressure systems, inc., manufactures high-accuracy liquid-level transducers. it is investigating whether it should update certain equipment now or wait to do it later. if the cost now is $200,000, what will the equivalent amount be 3 years from now at an interest rate of 10% per year?
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Business, 22.06.2019 18:00
1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%
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Business, 23.06.2019 01:10
Hillside issues $4,000,000 of 6%, 15-year bonds dated january 1, 2016, that pay interest semiannually on june 30 and december 31. the bonds are issued at a price of $4,895,980. required: 1. prepare the january 1, 2016, journal entry to record the bonds’ issuance
Answers: 3
Business, 23.06.2019 02:20
Which one of the following is not a typical current liability? a. interest payable b. current maturities of long-term debt c. salaries payable d. mortgages payable
Answers: 3
Assuming purchase costs are declining and a periodic inventory system is used, determine the stateme...
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