*************NOT AT THE POSTED COORDINATES*************
N 40° AB.CDE W 073° FG.HIJ
Revenue: 900,000
Expenses: 150,000
Preferred Dividends: 35,000
Shares Authorized: 150,000
Shares Outstanding: 100,000
If you can calculate the EPS, you’ll have CDE.
The ABC company uses a periodic inventory system. The beginning balance of inventory and purchases made by the company during the month of July are given below:
July 01: Beginning inventory, 500 units @ $0.77 per unit.
July 18: Inventory purchased, 600 units @ $0.75 per unit.
July 25: Inventory purchased, 300 units @ $0.71 per unit.
The ABC company sold 1,100 units during the month of July.
The value of the inventory at July 31 will give you HIJ, if you know FIFO.
Michael bought a tractor for his farm for $500 and will use it for 10 years. At the end of it’s useful life Michael can scrap it for $60. The amount of straight line depreciation per year will provide AB.
Joe purchases 12 new desks for the office and the desks cost $120 each. Joe agreed to put 20% down in cash and the vendor offered 2.5/10, net 30. If Joe pays the reminder of the bill within nine days, which journal entry is appropriate?
- Dr. Office Furniture $1,440
Cr. Cash $1,440
- Dr. Office Furniture $1,440
Cr. Cash $288
Cr. Accounts Payable $1,152
- Dr. Office Furniture $1,440
Cr. Cash $288
Cr. Accounts Payable $1,123
Cr. Purchase Discount $29
- Dr. Office Furniture $1,440
Cr. Accounts Payable $1,440
Use your answer above to solve for FG:
A.56 B.57 C.58 D.59