13. Calculate the company's net income (profit) given the following information:

	$10,630
	$11,370
	$11,610
	$10,280

14. Nimbus Corporations accounting records disclosed the following information regarding purchases of inventory item no. 773 during July:

During the month of July, Nimbus sold 140 units at a price of $16.30 each. Calculate cost of goods sold using weighted-average costing. Round your answer to the nearest dollar.

	$2,282
	$1,676
	$2,155
	$514

16. Performing services for a customer on account would result in:

	An increase in Accounts Receivable and an increase in Service Revenue
	An increase in Cash and a decrease in Accounts Receivable
	An increase in Accounts Receivable and an increase in Unearned Revenue
	A decrease in Accounts Payable and a decrease in Service Revenue

19.Kitchener Industries pays $1,300 for salaries for the month. The impact of this transaction would be:

	Cash would increase by $1,300 and Salaries Expense would increase by $1,300
	Cash would decrease by $1,300 and Salaries Expense would decrease by $1,300
	Cash would increase by $1,300 and Salaries Expense would decrease by $1,300
	Cash would decrease by $1,300 and Salaries Expense would increase by $1,300

23. Chronos Time Company produces 1,000,000 watches per year and has a total plant capacity of 1,200,000 watches. Based on production of 1,000,000 watches per year, the financial information for one (1) watch is as follows:

A key customer approached the company to provide 200,000 watches at a reduced price. What is the minimum price per unit that the company could accept on this special order?

	$5.50
	$21.50
	$27.00
	$11.50

Account Name Accounts payable Accounts receivable Building Cash Depreciation expense Equipment Insurance expense Prepaid insurance Rent expense Salaries expense Salaries payable Service revenue Supplies Amount (in $) 4,750 3,140 55,700 11,950 1,360 32,210 980 240 9,150 14,630 1,110 36,750 350 Beginning inventory Purchase Purchase Purchase Date July 2 July 5 July 13 July 25 Units 40 50 80 10 Unit Cost $10.50 $11.00 $13.00 $14.50 Total Cost $420 $550 $1,040 $145 Revenue Direct materials Direct labour Variable overhead Fixed overhead Total Cost $27.00 5.50 3.50 2.50 10.00 $21.50