Could you please answer the below two questions? ( only require the answers) 1. What documentation issued by a bank increases a company’s checking account balance at the bank? A) An account inv

Could you please answer the below two questions? ( only require the answers)

1. What documentation issued by a bank increases a company’s checking account balance at the bank?

A) An account invoice

B) A debit memo

C) A credit memo

D) A certified check

2. Martin Company has no beginning inventory. Martin purchased 500 units of inventory that cost $5.00 each. At a later date the company purchased an additional 700 units of inventory that cost $6.00 each. Martin sold 900 units of inventory for $8.00. If Martin uses FIFO cost flow method, the amount of gross margin appearing on the income statement will be:

A) $2,300

B) $6,200

C) $1,800

D) $2,000

Additionally, please see the attached file and complete. I ask that you answer the questions in entirety and show all work. I would prefer you would provide your answers on the word document attached. (FOR THE ASSIGNMENT ON THE ATTACHMENT FILE ONLY)

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Problem 1.
Maple Company started the year with no inventory. During the year, it purchased
two identical inventory items at different times. The first unit cost $800 and the second, $700.
One of the items was sold during the year.
Required:
Based on this information, how much product cost would be allocated to cost of goods sold and
ending inventory, assuming use of:
a. LIFO
b. FIFO
c. Weighted average
Cost of goods sold
Ending inventory
LIFO
FIFO
Weighted Average

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Problem 2.
Teague Company purchased a new machine on January 1, 2012, at a cost of
$150,000. The machine is expected to have an eight-year life and a $15,000 salvage value. The
machine is expected to produce 675,000 finished products during its eight-year life. Smith
produced 70,000 units in 2012 and 110,000 units during 2013.
Required:
1) Determine the amount of depreciation expense to be recorded on the machine for the years
2012 and 2013 under each of the following methods:
2012
2013
a) Straight-line method
b) Units of production method
c) Double-declining balance method

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