Author: Anonymous

If the interest on a note is 12.0% and the principal was $110,000, what is the maturity value of the note if the note is payable in 8 months?  

The depreciation method that does not initially use the residual value in depreciation calculations is the  

When inventory costs are increasing, the LIFO costing method will yield a cost of goods sold that is:  

On a bank reconciliation, which of the following would be deducted from the balance per book?

A company has net credit sales of $5,000,000, cost of goods sold of $3,890,000, a beginning balance of net receivables of $1,245,000, and an ending balance of net receivables of $1,417,000. What is the company’s Days’ Sales Outstanding (rounded)?  

If the interest on a note is 12.0% and the principal was $220,000, what is the maturity value of the note if the note is payable in 8 months?  

A company has net credit sales of $25,000,000, cost of goods sold of $20,000,000, a beginning balance of accounts receivable of $1,245,000 and an ending balance of accounts receivable of $1,650,000. What is the company’s Days’ Sales Outstanding? (round any intermediary calculations to two decimal places and your final answer to the nearest day)

On January 1, 2016, Russo Resort purchased equipment for cash at a cost of $45,000 and an estimated residual value of $3,000. The company depreciates equipment using the straight-line method over 5 years. At December 31, 2018, what amount will be reported for Accumulated Depreciation?  

Thomas LLC has the following accounting records in 2021:                                  Sales revenue          26,250      Beginning Inventory          10,888      Purchases          11,008      Ending Inventory (at weighted average cost)          10,269                                     Thomas earned a gross profit and experienced a gross margin percent, respectively, of:                            

Cash and cash equivalents include: