On 30 Jun, 2016, Alpha Corp issued 600,000 of 7%, 10 yr bonds at 98.5% its semiannual interest date. Alpha uses the straight-line method for amortization.

September 6, 2019/in Questions Uploads /by mary WAMBUGU

On 30 Jun, 2016, Alpha Corp issued 600,000 of 7%, 10 yr bonds at 98.5% its semiannual interest date. Alpha uses

the straight-line method for amortization. Use this information to determine the carrying value of this bound issue after adjusting entries have been made on June 30, 2018? Round to the nearest whole dollar.

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On Dec 31, 2016, Alpha Company invested $10,000 in 2 yrs, certificate with 8% annual interest rate with semi-annual compounding.

September 6, 2019/in Questions Uploads /by mary WAMBUGU

On Dec 31, 2016, Alpha Company invested $10,000 in 2 yrs, certificate with 8% annual interest rate with

semi-annual compounding. Use this information to determine the maturity value of the certificate on Dec 31, 2018? (Round your answers to the nearest whole dollar.)

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Calculate ending inventory, cost of goods sold, gross margin, and gross margin rate under periodic method; compare results.

September 6, 2019/in Questions Uploads /by mary WAMBUGU

Calculate ending inventory, cost of goods sold, gross margin, and gross margin rate under periodic method; compare results.
You are provided with the following information for Molly Inc. for the month ended October 31, 2014. Molly uses a periodic method for inventory.

Date	Description	Units	Unit Cost/ Selling Price	Beginning Inv	Date	Description	Units	Unit Cost/ Selling Price	Revenue from Sales
October 1	Beginning inventory	60	$24	$1,440
October 9	Purchase	120	26	$3,120
					October 11	Sale	100	35	$3,500
October 17	Purchase	70	27	$1,890
					October 22	Sale	65	40	$2,600
October 25	Purchase	80	28	$2,240
					October 29	Sale	120	40	$4,800
		330		$8,690			285		$10,900
Average Cost per unit
Inventory Units remaining after Sales
Sales Revenue
Instructions

(a) Calculate (i) ending inventory, (ii) cost of goods sold,
LIFO, FIFO and average cost

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On May 15, 2016 the Smoky Bear Company inventory storage facility was completely destroyed in a fire. Offsite accounting records reflect the normal gross profit rate is 40% of sales.

September 6, 2019/in Questions Uploads /by mary WAMBUGU

On May 15, 2016 the Smoky Bear Company inventory storage facility was completely destroyed in a fire.

Offsite accounting records reflect the normal gross profit rate is 40% of sales. Sales to the date of the fire were $1,650,000. The April 30, 2016 inventory value was $500,000. Two purchases were made during May, before the fire, for the values of $500,000 and $800,000. Using the Gross Profit Method determine the estimated inventory loss due to the fire.