Unless a bond defaults, an investor cannot lose money investing in bonds

Online real estate services are more convenient, but usually charge higher commissions than traditional full-service real estate companies

Indicate whether the statement is true or false.

Finding unknown amounts

An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. For each of the cases in the accompanying list, find the unknowns designated by the letters A through D. Case 1 (in thousands) Case 2 Accounts receivable, 12/31 $ 9,000 $ 3,150 Cost of goods sold A 30,000 Accounts payable, 1/1 4,500 2,550 Accounts payable, 12/31 2,700 2,250 Finished goods inventory, 12/31 B 7,950 Gross margin 16,950 C Work-in-process inventory, 1/1 0 1,200 Work-in-process inventory, 12/31 0 4,500 Finished goods inventory, 1/1 6,000 6,000 Direct materials used 12,000 18,000 Direct manufacturing labor 4,500 7,500 Manufacturing overhead costs 10,500 D Purchases of direct materials 13,500 10,500 Revenues 48,000 47,700 Accounts receivable, 1/1 3,000 2,100