Business, 27.02.2020 00:56 Southernland16
Sandra, Inc. had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $16 each using the last-in, first-out (LIFO) method. The current replacement cost is $12 per unit. The selling price charged by Sandra, Inc. for each finished product is $20. In order to record the adjusting entry needed under the lower-of-cost-or-market rule, the Cost of Goods Sold will be .
Answers: 3
Business, 22.06.2019 03:10
On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.
Answers: 3
Business, 22.06.2019 09:00
Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?
Answers: 2
Sandra, Inc. had 200 units of inventory on hand at the end of the year. These were recorded at a cos...
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