Answer:
The options are:
A $34,850.
B $163,350.
C $128,500.
D $188,200.
$ 163,350.00,option B is correct
Explanation:
At the beginning of the current year ,the stockholders equity is the difference between total assets of $877,000 and total liabilities of $748,500 i.e $128,500
.
However,the increase or decrease to stockholders' equity in the current year is the difference between increase in total assets of $59,700 and the the increase in liabilities of $24,850 i.e $ 34,850.00
Hence stockholders' equity=the initial stockholders' equity+increase=$128,500+$ 34,850=$ 163,350.00
Answer:
Inventory= $1,890
Explanation:
Giving the following information:
Tamarisk, Inc. just began business and made the following four inventory purchases in June:
June 1: 162 units $972
June 10: 216 units $1512
June 15: 216 units $1728 (1728/216=8)
June 28: 162 units $1458 (1458/162=9)
A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand.
FIFO (first-in, first-out)
Inventory= 162*9 + 54*8= $1,890
Answer:
<u>February.</u>
Desired ending inventory = 10% of March Cost of goods(COGS):
= 10% * 35,000
= $3,500
Inventory needed = COGS + ending inventory
= 32,000 + 3,500
= $35,500
Beginning inventory = January ending inventory = $3,200
Required Purchases = Inventory needed - Beginning inventory
= 35,500 - 3,200
= $32,300
<u>March</u>
Desired ending inventory = 10% of April COGS:
= 10% * 40,000
= $4,000
Inventory needed:
= 35,000 + 4,000
= $39,000
Beginning inventory = February ending inventory = $3,500
Required purchases:
= 39,000 - 3,500
= $35,500
Answer:
A. Change in accounting principle (reported retrospectively) - PR
B. Change in accounting principle (exception reported prospectively) - PP
C. Change in estimate - E
D. Change in estimate resulting from a change in accounting principle - EP
E. Change in reporting entity - R
F. Correction of an error - N
Answer:
Option (a) and (c) are correct.
Explanation:
We know that rent control is an example of price ceiling. If the price of apartments set below the equilibrium price level then there is increase in the demand for apartments. So, the demand for apartments exceeds quantity supplied at the prevailing market price.
(a) Therefore, the quality of rental housing falls because of the lower price of the apartment. As this will become less profitable for the landlords, so they are least interested in the maintenance of the apartments.
(b) This will also lead to develop black market. The landlords are trying to fool the higher authorities and rent their apartments at a higher cost because this will be done without any type of legal documentation of the apartments or results from the manipulation of the rules.
