NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously! (thumbs up)
129 A July sales forecast projects that 8,000 units are going to be sold at a price of $10.00 per unit. Management forecasts 3% growth in sales each month. Total August sales are anticipated to be: Skipped Multiple Choice o $76,000. o $84,800. o $77,600. o $82,400. o $80,000. 130 Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of debt securities follows. The year-end adjusting entry to record the unrealized gain/loss at December 31, 20X2 is: Available-for-Sale Securities Cost Fair Value December 31, 20X1 $305,000 $300,000 December 31, 20X2 $384,000 $390,000 Skipped Multiple Choice 0 Debit Fair Value Adjustment - Available-for-Sale (LT) $11,000; Credit Unrealized Gain - Equity $5,000. O Debit Fair Value Adjustment - Available-for-Sale (LT) $6,000; Credit Unrealized Loss - Equity $6,000. debie Festivalue me 0 Debit Unrealized Gain - Equity $6,000; Credit Fair Value Adjustment - Available-for- Sale (LT) $6,000. 0 Debit Fair Value Adjustment - Available-for-Sale (LT) $11,000; Credit Unrealized Loss - Equity $5,000; Credit Unrealized Gain - Equity, $6,000. Debit Fair Value Adjustment - Available-for-Sale (LT) $6,000; Credit Unrealized Gain - Equity, $6,000. 131 On November 12, Higgins, Inc., a U.S. Company, sold merchandise on credit to Kagome of Japan at a price of 3,600,000 yen. The exchange rate was $0.00858 on the date of sale. On December 31, when Higgins prepared its financial statements, the exchange rate was $0.00864. Kagome paid in full on January 12, when the exchange rate was $0.00882. On January 12, Higgins should prepare the following journal entry: Skipped Multiple Choice 0 Debit Cash $30,888; debit Foreign Exchange Loss $864; credit Accounts Receivable- Kagome $31,752 0 Debit Cash $31,752; credit Accounts Receivable-Kagome $31,104; credit Foreign Exchange Gain $648. 0 Debit Cash $30,888; debit Foreign Exchange Loss $216; credit Accounts Receivable- Kagome $31,104. 0 Debit Cash $31,752; credit Accounts Receivable-Kagome $30,888; credit Foreign Exchange Gain $864. 0 Debit Cash $31,104; credit Accounts Receivable-Kagome $30,888; credit Foreign Exchange Gain $216. Bengal Co. provides the following unit sales forecast for the next three months: 133 July 6,500 August September 7,200 6,500 Sales units Skipped The company wants to end each month with ending finished goods inventory equal to 20% of the next month's sales. Finished goods inventory on June 30 is 1,300 units. The budgeted production units for August are: Multiple Choice O 7.060 units. O 8,000 units. O 5,760 units. O 5,900 units. O 8,500 units
