A disqualified person is a person who has violated and been sanctioned under the Internal Revenue Code.
Answer the following statement true (T) or false (F)
False
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A company uses the periodic inventory system and had the following activity during the current monthly period. November 1:Beginning inventory104 Units @ $10November 5:Purchased104 Units @ $26November 8:Purchased54 Units @ $25November 16:Sold142 Units @ $65November 19:Purchased35 Units @ $20Using the weighted-average inventory method, the company's ending inventory would be:
A. $3090 B. $1740 C. $1040 D. $2050 E. $3024
Gracio Co. had the following transactions in the last two months of its year ended December 31. Prepare entries for these transactions under the method that records prepaid expenses as expenses and records unearned revenues as revenues. Also prepare adjusting entries at the end of the year.Nov. 1Paid $11,400 for 12 months of insurance coverage through October 31 of next year.5Received $8,000 cash for future services to be provided to a customer.7Paid $10,000 for future advertising.Dec. 31A portion of the insurance paid for on November 1 has expired. No adjustment was made in November to the insurance account.31Services of $2,500 are not yet provided to the customer who paid on November 5.31Of the advertising paid for on November 7, $1,500 is not yet used.
What will be an ideal response?
Heidi wishes to deposit an amount into her savings account that will enable her to withdraw $800 per year for the next four years. She should deposit $800, multiplied by the
a. present value of a single sum factor. b. present value of an ordinary annuity factor. c. future value of a single sum factor. d. future value of an ordinary annuity factor.
Creating a new schema to store a completely new and unique piece of information is called ________.
a. reconciliation b. accommodation c. assimilation d. integration