Moog Inc issued $100,000 in bonds at a price of 102 Moog Inc needs to record which of the following journal entries on the issuance date a Dr Cash $102,000 Dr Premium on Bonds Payable $2,000 Cr Bonds Payable $100,000 b Dr Bonds Payable $102,000 Cr Discount on Bonds Payable $2,000 Cr Cash $100,000 c Dr Bonds Payable $102,000 Cr Premium on Bonds Payable $2,000 Cr Cash $100,000 d Dr Cash $100,000 Dr Discount on Bonds Payable $2,000 Cr Bonds Payable $102,000 Arthur's Hardware Company uses the weighted average cost method for copper plumbing connectors The company purchased 1,600 connectors for $2 each on August 1, and 2,000 connectors for $1 50 each on September 1 Arthur's sold 1,450 connectors for $4 each on November 15 What is the company's cost of goods sold a $2,175 b $2,537 c $2,494 d $2,900 Rich Products Inc issued 50,000 shares of common stock with a par value of $1 per share On July 1, the company bought back 1,500 shares from investors for $70 per share On August 1, the company reissued the 1,500 shares at a price of $75 per share Rich Products should record which of the following entries a Dr Treasury Stock $105,000 Cr Cash $105,000 b Dr Cash $105,000 Dr Additional Paid in Capital $7,500 Cr Treasury Stock $112,500 c Dr Treasury Stock $1,500 Dr Additional Paid In Capital $103,500 Cr Cash $105,000 d Dr Cash $112,500 Cr Treasury Stock $105,000 Cr Additional Paid in Capital $7,500 Buffalo Punch and Die Inc manufactures punches and dies used in various manufacturing processes The company currently has 2,000 dies in inventory at $16 per unit The market value of the dies is $18 per unit The company recently lowered the selling price on its punch tools from $20 per unit to $19 per unit Buffalo Punch and Die Inc should report the inventory on its balance sheet at what amount a $28,000 b $30,000 c $40,000 d $32,000 Cottage Crafts Company uses the percent of credit sales method to record bad debt expense The following information was recorded in the shop's general ledger for January Cash sales $120,000 Credit sales $97,000 Balance in the Allowance for Doubtful Accounts $1,350 (credit balance) Historical bad debt loss rate 1 What is the balance in the Allowance for Doubtful Accounts after recording Bad Debt Expense for the month of January a $1,200 b $230 c $2 320 d $380

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Moog Inc. issued $100,000 in bonds at a price of 102. Moog Inc. needs to record which of the following journal entries on the issuance

Moog Inc. issued $100,000 in bonds at a price of 102. Moog Inc. needs to record which of the following journal entries on the issuance date?

Dr. Cash $102,000

Dr. Premium on Bonds Payable $2,000

Cr. Bonds Payable $100,000

Dr. Bonds Payable $102,000

Cr. Discount on Bonds Payable $2,000

Cr. Cash $100,000

Dr. Bonds Payable $102,000

Cr. Premium on Bonds Payable $2,000

Cr. Cash $100,000

Dr. Cash $100,000

Dr. Discount on Bonds Payable $2,000

Cr. Bonds Payable $102,000

Arthur's Hardware Company uses the weighted average cost method for copper plumbing connectors. The company purchased 1,600 connectors for $2 each on August 1, and 2,000 connectors for $1.50 each on September 1. Arthur's sold 1,450 connectors for $4 each on November 15. What is the company's cost of goods sold?

$2,175.

$2,537.

$2,494

$2,900.

Rich Products Inc. issued 50,000 shares of common stock with a par value of $1 per share. On July 1, the company bought back 1,500 shares from investors for $70 per share. On August 1, the company reissued the 1,500 shares at a price of $75 per share. Rich Products should record which of the following entries:

Dr. Treasury Stock $105,000

Cr. Cash $105,000

Dr. Cash $105,000

Dr. Additional Paid-in Capital $7,500

Cr. Treasury Stock $112,500

Dr. Treasury Stock $1,500

Dr. Additional Paid-In Capital $103,500

Cr. Cash $105,000

Dr. Cash $112,500

Cr. Treasury Stock $105,000

Cr. Additional Paid-in Capital $7,500

Buffalo Punch and Die Inc. manufactures punches and dies used in various manufacturing processes. The company currently has 2,000 dies in inventory at $16 per unit. The market value of the dies is $18 per unit. The company recently lowered the selling price on its punch tools from $20 per unit to $19 per unit. Buffalo Punch and Die Inc. should report the inventory on its balance sheet at what amount?

$28,000.

$30,000.

$40,000.

$32,000.

Cottage Crafts Company uses the percent of credit sales method to record bad debt expense. The following information was recorded in the shop's general ledger for January:

Cash sales - $120,000

Credit sales - $97,000

Balance in the Allowance for Doubtful Accounts - $1,350 (credit balance)

Historical bad debt loss rate - 1%

What is the balance in the Allowance for Doubtful Accounts after recording Bad Debt Expense for the month of January?