The correct answer is $378 question 13 correct mark

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The correct answer is: $378Question 13CorrectMark 10.00 out of 10.00
Flag questionQuestion textABC Inc. sells socks. During February 2016, its inventory records for one brand of its socks were as follows:Quantity Price per pairBeginning Inventory 10 pairs$20.00= $200February 6 Purchase 4 pairs $25.00= $100February 10 Purchase 5 pairs $27.40= $137 February 15 Sale 7 pairs N/ASee information above. Using this information, determine ending inventory underthe weighted-average method.Select one:a. $252b. $276 ($437/19)*12=$276c. $297d. $161FeedbackYour answer is correct.The correct answer is: $276Question 14CorrectMark 10.00 out of 10.00Flag questionQuestion textBased on the information below and considering that this company paid $322,500 in cash to its suppliers during the year, what is the company's cost of goods sold for 2015?1/1/2015 12/31/2015Inventory$23,400$34,560Accounts payable     $354,000 $223,000Select one:a. $442,340b. $322,500c. $180,340 $322,500-increase in inventory-decrease in AP
d. $311,340FeedbackYour answer is correct.The correct answer is: $180,340Question 15CorrectMark 10.00 out of 10.00Flag questionQuestion textABC Inc. was incorporated two years ago by issuing 1,000 shares of common stock at $200 and borrowing $30,000 from a bank on a long-term note. Last year,ABC reported net income of $10,000 and paid a cash dividend of $800. During the year, the company also borrowed an additional $7,600 from the bank. What was total assets on ABC's balance sheet at the end of the year last year? Select one:a. $239,200b. $246,800 c. $276,800d. $240,000FeedbackYour answer is correct.The correct answer is: $246,800Question 16IncorrectMark 0.00 out of 10.00Flag questionQuestion textIf a company has a current ratio below 1, which of the following transactions would cause the current ratio to increase?Select one:a. Purchasing inventory by signing a long-term noteb. Purchasing land with cashc. Collecting an account receivabled. Purchasing land by signing a short-term note FeedbackYour answer is incorrect.The correct answer is: Purchasing inventory by signing a long-term noteQuestion 17
CorrectMark 10.00 out of 10.00Flag questionQuestion textYou have purchased 100 units of product X, which has a list price of $13.60 per unit. Because you are a wholesaler, you are granted a trade discount of 19.3%. The cash discount terms are 2/6, n/45. How much will you pay in total for productX assuming that you pay for the product within 4 days of purchase?Select one:a. $1,075.57 (13.60*100)*(1-19.3%)*(1-2%)=$1,075.57b. $1,097.52c. $1,360.00d. $1,332.80FeedbackYour answer is correct.The correct answer is: $1,075.57Question 18IncorrectMark 0.00 out of 10.00Flag questionQuestion textOn December 31, 2015, Sveva Inc. has total liabilities of $252,000 and total equity of $420,000. The company needs to raise additional funds through debt and equity. The company will issue 40,000 shares of common stock at $4.50 per share and in addition it intends to borrow as much as it can from Bank of Switzerville. Bank of Switzerville requires a maximum debt-to-asset ratio of 0.75. What is the maximum additional amount that Sveva can borrow after the additional stock is issued?

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