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Airida [17]
2 years ago
11

During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. Inventory at the start of the yea

r was $38.2 million and at the end of the year was $53.0 million. Which of the following describes how these transactions would be entered on the financial statement effects template? Select one: A. Increase liabilities (Accounts payable) by $323.0 million B. Increase expenses (Cost of goods sold) by $337.8 million C. Increase expenses (Cost of goods sold) by $323.0 million D. Increase noncash assets (Inventory) by $14.8 million E. Both A and C
Business
1 answer:
emmainna [20.7K]2 years ago
3 0

Answer:

c) increase expenses (Cost of goods sold) by $323.0 million

Explanation:

the cost of the goods sold can be calculated like that:

beginning inventory    $ 38.2

(+) purchases              $337.8

(-) ending inventory     $ 53

Total                             $323

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On June 1, Greendale Corp. issued $700,000, five-year bonds at 8%, with interest payable annually on May 31. The bonds sold for
elena-14-01-66 [18.8K]

Answer:

$23,709

Explanation:

Data provided in the question:

Amount of bond issued = $700,000

Duration = 5 years

Interest rate = 8%

Selling amount of bond = $728,700

Market rate of interest = 7%

Now,

Interest paid = Amount of bond issued × Interest rate

= $700,000 × 0.08

= $56,000

Interest expense = Amount of bond sold × Market Interest rate

= $728,700 × 0.07

= $51,009

unamortized premium = Selling amount of bond -  Amount of bond issued

= $728,700 - $700,000

= $28,700

Amortized amount = Interest paid - Interest expense

= $56,000 - $50,009

= $4,991

Balance  of the premiums on bonds payable account immediately following the first interest payment

= unamortized premium - Amortized amount

= $28,700 - $4,991

= $23,709

5 0
2 years ago
The marginal utility from the first three bananas consumed are: 19, 15, and 5 respectively. The marginal utility from the first
Allushta [10]

Answer:

If the sales target is $6, the consumer must buy one pair's cheap sandal because it gets a maximum value of 20 per $spent.

Explanation:

The computation of maximize utility is shown below:-

         Bananas              Pizza                   Cheap Sandals  

Units MU MU/Price MU MU/Price MU MU/Price

1            19   19                  48   16                 120    20  

2            15   15                  33    11                   30     5  

3             5    5                   3        1                     6      1

If the sales target is $6, the consumer must buy one pair's cheap sandal because it gets a maximum value of 20 per $spent.

3 0
2 years ago
Aidan has a new idea, and he has been able to inspire his team members to support his vision. this is an example of _____ leader
olga_2 [115]
Our attitudes about leadership have changed drastically in recent years, with the foundations having been built by Burns in 1978. One of the most important types of leadership is the transformational type. In this type of leadership, the leaders are not just rewarding their followers by strict adherence to office norms, but they can inspire and motivate them. For these leaders and their groups, the job is of secondary importance and goals like completing the project have precedence. They are usually innovative, encouraging and bring change to their environment.
8 0
2 years ago
"Vaughn Corporation is considering the issue of commercial paper and would like to know the yield it should offer on its commerc
Naddik [55]

Answer:

7.6 percent

Explanation:

Vaughn should offer 7.6 percent on its commercial paper.

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6 0
2 years ago
Acceptance. Altisource Portfolio Solutions, Inc., is a global corporation that provides real property owners with services, such
baherus [9]

Answer:

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Explanation:

  • The very first e-mailed submission from Altisource that doesn't even dispute Lucas' suggestion would have been the proposal which most definitely meets the part of the arrangement to create a contract. It is when Altisource's e-mail was approved that they committed to it. Today, if a new arrangement with added provisions is presented two days after ratification, it can not be accepted as an aspect of the binding agreement.
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5 0
2 years ago
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