During 2021, a company sells 200 units of inventory for $58 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 57 $ 44 $ 2,508 May 5 Purchase 102 43 4,386 Nov. 3 Purchase 74 42 3,108 233 $ 10,002 Actual sales by the company include its entire beginning inventory, 82 units of inventory from the May 5 purchase, and 61 units from the November 3 purchase. Calculate cost of goods sold and ending inventory for 2021 assuming the company uses specific identification.

Recently, it was observed that people have started saving more rather than spending. this has impacted the demand for luxury goods and services. the decline in the demand led to unemployment in the related sectors. what can be a primary solution to reduce the unemployment levels in the country? a. increase the interest rates b. impose fine for savings c. force industries to rehire employees d. reduce the interest rates e. import goods and services

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false