Herb sells office equipment for $1,000 cash. The applicable sales tax rate is 7%. Herb uses a periodic inventory system. Which of the following journal entries to record this sale is correct?   Accounts Debit Credit A Equipment $1,070                  Sales Revenue   $1,000                Sales Tax Payable   $70 B Cash $1,070                  Sales Revenue   $1,070 C Cash $1,070                   Sales Tax Payable   $1,070 D Cash $1,070                  Sales Revenue   $1,000                Sales Tax Payable   $70

When a company reissues (or sells) shares of its treasury stock at an amount different than its cost, it reports a gain or loss on the sale.

Which of the following has the highest boiling point? 

Which set of reagents complete the following reaction? 

The rate stated on the face of the bond that is used to compute the interest payment is the market interest rate. 

Choose the appropriate letter to match the account balance change with the type of adjustment made to net income when using the indirect method to determine net cash flow provided by operating activities. Type of Adjustment:A: Add item to net incomeB: Subtract item from net incomeN: No adjustment necessary Note: Use UPPERCASE LETTERS TO ANSWER.

On November 1, 2023, Gump Inc. issued 1,000 shares of $50 par value, 6% cumulative preferred stock, and 100,000 shares of $1 par value common stock. No dividends were declared in 2023. In 2024, Gump declared and paid a $15,000 dividend to its stockholders. Assuming all shares originally issued are outstanding, the total dividend paid to the preferred stockholders equals:

Problem 2: Bridget’s Unique Denim Boutique uses a periodic inventory system. The boutique had 40 denim jackets at $60 each in beginning inventory. In June, the boutique purchased 100 denim jackets at $62 each. In August, the boutique purchased 150 denim jackets at $66 each. In December, the boutique purchased 110 denim jackets at $70 each. The boutique sold 350 denim jackets throughout the year at a price of $100 each.  (12 points total) PLEASE COPY THE TABLE FROM THE QUESTION INTO YOUR RESPONSE TO FORMAT YOUR ANSWERS. Calculate each of the following:SHOW DETAILS IN UNITS AND COST PER UNIT Cost of Goods Available for Sale in Dollars ($): (4 points) Sales revenue or sales ($) for the year: (1 point) Cost of Goods Sold in Dollars ($) and Ending Inventory in Dollars ($) under the Weighted Average method (round to 2 decimal places): (3 points)  Cost of Goods Sold in Dollars ($) and Ending Inventory in Dollars ($) under the LIFO method: (2 points) Cost of Goods Sold in Dollars ($) and Ending Inventory in Dollars ($) under the FIFO method: (2 points)

The following are seven items that would cause ABC Company’s cash book balance to differ from its bank statement cash balance. Indicated how each item will appear on ABC’s bank reconciliation by matching each item to the best option listed. An option may be used more than once or not at all. Record your answers on the scantron. (5 points)

Clark Co. had a cost of goods sold of $3,600. If beginning inventory was $3,780 and ending inventory was $900, Clark’s purchases must have been: