Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 48 ABC Company uses a perpetual inventory system and has the following inventory transactions: Not yet answered Units Unit Costs Total Costs Marked out

image text in transcribed

image text in transcribed

Question 48 ABC Company uses a perpetual inventory system and has the following inventory transactions: Not yet answered Units Unit Costs Total Costs Marked out of 1.00 March 1 10,000 $9 $90,000 Beginning Inventory Flag question March 9 Purchases 12,000 $10 $120,000 March 12 Sales (20,000) March 18 Purchases 7,000 $11 $77,000 What is the weighted average cost per unit after the last purchase on March 18? (Round your answer to the nearest cent) 0 a. $9.90 b. $10.00 O c. $9.55 0 d. $10.67 Question 47 Jot yet answered On Jan 01, the ABC Company issues $200,000 of 5 year, 7% bonds at 97. The entry to record the issue of the bonds would include which of the following? Marked out of Flag question O a. A Credit to bonds payable for $194,000 O b. A Debit to investment in bonds for $194,000 oc. A Debit to interest expense for $6,000 od. A Debit to Cash for $200,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Reporting And Analysis

Authors: David Young, Jacob Cohen

3rd Edition

1118470559, 9781118470558

More Books

Students also viewed these Accounting questions

Question

explain the negativity bias;

Answered: 1 week ago

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago