Examlex

Solved

Metro Computer Company Had the Following Balances and Transactions During

question 98

Multiple Choice

Metro Computer Company had the following balances and transactions during 2014.  Beginning inventory 100 units at $75 March 10 Sold 50 units  June 10 Purchased 200 units at $80 October 30  Sold 150 units \begin{array} { | l | l | } \hline \text { Beginning inventory } & 100 \text { units at } \$ 75 \\\hline \text { March } 10 & \text { Sold } 50 \text { units } \\\hline \text { June } 10 & \text { Purchased } 200 \text { units at } \$ 80 \\\hline \text { October 30 } & \text { Sold } 150 \text { units } \\\hline\end{array}
-What would the Inventory amount be as reported on the balance sheet at December 31,2014 if the perpetual First-In,First-Out costing method is used? (Answers are rounded to the nearest dollar.)

Describe the characteristics and objectives of client-centered and Gestalt therapies.
Understand the application and benefits of cognitive therapy in addressing unrealistic expectations and cognitive distortions.
Recognize the effective use of pharmacotherapy in managing symptoms of psychological disorders.
Understand the importance of communication and expression of insecurities in couple therapy.

Definitions:

Discharge by Performance

The termination of a contractual obligation when both parties fulfill their respective duties as agreed in the contract.

Discharged

The state of being released from a legal, financial, or other obligation.

Substantially Performed

A legal concept indicating that a contract has been fulfilled enough to meet its essential requirements, despite minor variances from the exact terms.

Concurrent Conditions

In a contract, terms under which each party’s performance is conditioned on the performance of the other; occur only when the parties are required to perform for each other simultaneously.

Related Questions