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Dreamworld had $ 400 000 in 14% bonds outstanding through both years Dreamworld's capitalized interest in 2018 was A. $44.240. B. $65.800. C. $76,860. D. $88,480. 5. Anthony The Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 2018 $311,000 8.000 2017 $295.000 5303.000 5.500 $289,500 57,000 140,000 29,000 197.000 66,000 173,000 ATCs gross profit ratio (rounded) in 2018 is: 131,000 S172.000 144.000 57.000 116,000 $173,500 A. 56.8% B. 58.3% C. 45.0% D. None of these answer choices are correct. 6. Data related to the inventories of Costce Medical Supply are presented below. Surgical Equipment $ 273 Surgical Supplies 5038 Selling price Cost Costs to sell Rehab Rehab que $ 336 282 $ 161 26 In applying the lower of cost or net realizable value rule, the inventory of rehab equipment would be valued at: 5271 5282. $303. $209. 7. On November 10 of the current year, Flores Mills sold carpet to a customer for $8.800 with credit terms 2/10, n/30. Flores uses the gross method of accounting for cash discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? A. Cash Sales discounts Accounts receivable 8.624 176 8,800 B. Cash 8,624 Accounts receivable 8,624 8.800 176 C. Cash Sales discounts Accounts receivable Sales 8.800 176 8,624 D. Cash Sales 176 8.800 Accounts receivable Page 5 of 13 Cost Replacement cost Sales commission 137,000 135,000 10% 5137,000 138,000 127,000 10% $108.000 70,200 90,200 10% $64,000 44,800 40.800 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: A. B. C. D. $137,000. $135,000. S115,500 $148,500. 4. On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: S January 1, 2018 September 1, 2018 December 31, 2018 March 31, 2019 September 30, 2019 316,000 462,000 462,000 462,000 316,000 $ age 3 of 13

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