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A company had the following purchases and sales during its first year of operations:   Beginning Inventory Purchases Sales 80 units at $30 March: 135 units at $32 105 units April: 115 units at $34 100 units August: 110 units at $40 140 units December: 90 units at $38 155 units On December 31, there were 30 units remaining in ending inventory.  (Assume all sales were made on the last day of the month.) Using the perpetual LIFO inventory costing method, what is the value of cost of goods sold? Using the perpetual LIFO inventory costing method, what is the value of ending inventory? You must show your work to receive credit, but you do not have to create tables, or an inventory record, showing the math calculations is sufficient. 

Use the adjusted trial balance and prepare a properly formatted Multi-step Income Statement.  Holiday’s Music Corp. Adjusted Trial Balance 30-Apr   Dr. Cr. Cash $68,000   Accounts Receivable 12,000   Prepaid Insurance 850   Prepaid Advertising 13,250   Office Supplies                1,475   Merchandise Inventory            27,850   Equipment          250,000   Accumulated Depreciation-Equipment   $100,000 Music Copyrights            60,000   Accounts Payable   10,300 Salaries Payable   63,018 Notes Payable   7,500 Long-term Notes Payable    92,500 Common Stock   25,000 Retained Earnings   173,862 Dividends 30,000   Sales   $265,065 Sales Discount            25,702   Sales Returns and Allowances              4,370   Cost of Goods Sold          124,209   Insurance Expense (on office)              3,000   Advertising Expense              1,900   Office Salaries Expense            23,000   Office Supplies Expense              13,319   Office Rent            24,000   Depreciation Expense- Office Building              5,000   Royalties (an expense)            26,000   Travel Expenses (sales related)            13,200   Utilities Expense              7,230   Interest Expense              2,890                 Totals $737,245 $737,245

A company had the following purchases and sales during its first year of operations:   Beginning Inventory Purchases Sales 80 units at $30 March: 135 units at $32 105 units April: 115 units at $34 100 units August 110 units at $40 140 units December: 90 units at $38 155 units  On December 31, there were 30 units remaining in ending inventory.  (Assume all sales were made on the last day of the month.) Using the perpetual FIFO inventory costing method, what is the value of cost of goods sold? Using the perpetual FIFO inventory costing method, what is the value of ending inventory? You must show your work to receive credit, but you do not have to create tables or an inventory record. Showing the math calculations is sufficient. 

Answer each question thoroughly. Be sure to label each question.  In general, what accounts are affected by adjusting entries? (2 points) Why are adjusting entries important? (2 points) What are the types of adjusting entries? (4 points) Give an example of one type of adjusting entry; you must provide the transaction and journal entry. (5 points)  

Complete the following statement: In Charles’s law, the volume of a gas ________ when the ________ decreases.  

Which measurement describes the pressure of a gas?  

A temperature of 125 °C is the same as ________.    

How many moles of water, O, are present in 75.0 g O?  

The unit of 1 atmosphere used to describe the pressure of a gas is equal to ________.  

The reaction of carbon with oxygen to produce carbon monoxide is an example of which class of reaction?