On November 1, 2019, Davis Company issued $30,000, ten-year, 8% bonds for $28,980. The bonds were dated November 1, 2019, and interest is payable each November 1 and May 1. Davis uses the straight-line method of amortization.

How much is the semi-annual interest expense when the straight-line method of amortization is utilized?

Multiple Choice

• $2,298.

• $1,251.

• $2,502.

• $2,349.

RJ Corporation has provided the following information about one of its inventory items:

Date		Transaction		Number of Units		Cost per Unit
1/1		Beginning Inventory		403		$	3,215
6/6		Purchase		803		$	3,615
9/10		Purchase		1,215		$	4,015
11/15		Purchase		803		$	4,230

During the year, RJ sold 3,015 units.

What was cost of goods sold using the FIFO cost flow assumption?

Multiple Choice

• $11,801,470.

• $11,664,800.

• $11,699,335.

• $11,589,335.

On January 1, 2019, the general ledger of Global Corporation included supplies of $2,200. During 2019, supplies purchased amounted to $7,400. A physical count of inventory on hand at December 31, 2019 determined that the amount of supplies on hand was $2,400. How much is the supplies expense for year 2019?

Multiple Choice

• $2,200.

• $7,600.

• $9,600.

• $7,200.