If Beginning Inventory (BI) + Purchases (P) Ending Inventory ...

[HCHenry]

If Beginning Inventory (BI) + Purchases (P)  Ending Inventory (EI) = Cost of Merchandise Sold (COMS), anequivalent equation can be written as
 a. BI + P = COMS  EI
  b. BI  P = COMS + EI
  c. BI + P = COMS + EI
  d. EI + P = COMS  BI

Question 2

On December 31, IOU Corporation issued 100,000 of 10-year, 8 bonds at 98. The bonds pay interest annually on December 31. These bonds sold at 98 because ________.
 
  A) the stated interest rate was higher than the market rate of interest
  B) the stated interest rate was lower than the market rate of interest
  C) the bond was issued six months after yearend
  D) this is an installment note

[Sammyo]

Answer to Question 1

c

Answer to Question 2

B

[HCHenry]

Correct answers!

[Sammyo]

Great! Please up vote