7.) In a periodic inventory system what are the missing items needed to calculate Cost of Goods Sold? Beginning Inventory ??? Cost of Goods Available for Sale ??? Cost of Goods Sold a) Ending Inventory. Freight Out b) Purchase Discounts, Purchase Returns c) Sales Discounts, Sales Returns d) Cost of Purchases, Ending inventory c) None of the above 8.) On March 1, 2020 a company takes out a 5 year loan from the bank for $360,000 at 4% interest rate. The loan is a blended principal and interest loan with monthly payments of $6,630 The first installment payment is due on April 1, 2020. How much principal reduction will there be on the May 1, 2020 installment payment (rounded to the nearest dollar)? a) S5,448 b) SS.430 c) $6.630 d) S1,200 c) S1,182 9.) Which of the following is not part of the accounting cycle? a) Completing a journal entry to record the revenue from services provided b) Completing an internal control risk assessment c) Closing journal entries d) Completing an income statement e) All of the above are part of the accounting cycle 10.) On January 1, 2019 a public company has 35,000 common shares outstanding and the shares were trading at $3.00 per share. On March 15, 2019 the company had 40,000 shares outstanding and the shares were trading at $3.50 per share. What is the market capitalization of the company on March 15, 2019? a) S122,500 b) S140,000 c) S105,000 d) $17.500 e) $2,500