Answer:
The answer is it must be highly possible to be sold.
Explanation:
For a non current asset to be classified as held-for-sale, the following must be satisfied:
1. The asset must be available for immediate sale in its present state(condition) and location.
2. The asset's sale is expected to be completed within a year(12 months) as 'held for sale'
3. The sale of the asset must be highly probable(through management's commitment to the sale of the asset and the existence of active marketing for the asset)
Answer:
$84,480
Explanation:
Calculation to determine what the monthly financial advantage (disadvantage) for the company as a result of accepting this special order should be:
First step is to calculate the Contribution margin
Selling price = $88.40
Less: Variable costs:
Direct material = $ 48.60
Direct labor = $ 9.30
Variable manufacturing overhead = $ 2.30
Variable selling & admin costs ($ 4.20 - $2.40) $1.80
Contribution margin = $26.4
Now let calculate the monthly financial advantage of accepting the special order
Monthly financial advantage of accepting the special order =($26.4 * 3200 units)
Monthly financial advantage of accepting the special order = $84,480
Therefore the monthly financial advantage (disadvantage) for the company as a result of accepting this special order should be:$84,480
Answer:
a.
Date Account Title Debit Credit
XX-XX-XX Petty Cash $250
Cash $250
b.
Date Account Title Debit Credit
XX-XX-XX Entertainment expense $41
Postage $25
Printing $12
Petty Cash $ 78
Date Account Title Debit Credit
XX-XX-XX Petty Cash $78
Cash $78
2. Reasons why a Petty Cash account would be credited:
a. Fund amount is being reduced.
c. Fund is being eliminated
When the fund is being reduced by expenses, it is credited as shown above.
When the fund is to be eliminated, it will be credited so as to remove all the money in it.
Answer:
C. is the value of the next best alternative as a result of choosing some given alternative
Explanation:
Opportunity cost -It is the the benefit that an individual , business or investor miss out , while choosing an alternative .The financial reports does not show the opportunity cost , which the owner of the business use to make an educated decisions while going through multiple options .
Answer:
<u>supply of labor is lower than the demand</u>
<u>Explanation:</u>
Consider for example a country is in need of Doctors, and the number of available doctors is quite low than the demand; such that hospitals wanting to increase their capacity begin to offer higher wages in other to employ available doctors. This evidently will in the <em>short run</em> lead to an increase in wages and employment for new doctors.