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2 years ago

Long-lived assets are reported in the balance sheet at _ value, which is equal to its original cost less _.

1 answer:

7 0

In the balance sheet, the Long-lived assets are reported as noncurrent assets which equals original cost less the <u>carrying value</u><u>.</u>

<u />

<h3>What is a Long-lived assets?</h3>

A Long-lived assets refers to an asset possessed by a business which is expected to be retained for at least one year.

In conclusion, the word "noncurrent assets" and "carrying value".

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3 years ago

Which of the following is not a ratio to assess a firm's liquidity?a. Current Ratiob. Debt ratioc. Quick Ratiod. All of the abov

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Answer:

b. Debt ratio

Explanation:

The liquidity ratio includes the current ratio, quick ratio, etc

where,

Current ratio = Total Current assets ÷ total current liabilities

And, Quick ratio = Quick assets ÷ total current liabilities

where,

Quick assets = Cash and cash equivalents + short-term investments + Accounts receivable (net)

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Hence, option b is correct

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3 years ago

Orion Iron Corp. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at

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Answer:

Instructios are listed below.

Explanation:

Giving the following information:

Inventory, December 31: 500 units at $10

Purchase, April 11: 800 units at $8

Purchase, June 1: 700 units at $12

Sale, May 1: 500 units

Sale, July 3: 520 units

A) Number of units= beginning inventory + purchases

Units for sale= 500 + 800 + 700= 2,000 units

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B) Ending inventory= units available for sale - sales

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3 years ago

The following information is from the December 31, 2017 balance sheet of Jackson Corporation

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Answer:Average issue price = $105--b

Explanation:

Preferred stock , $100 par = $260,000

number of shares issued =Preferred stock / par value preferred stock= =$260,000 / $100 = 2,600 shares

Paid in capital in excess of par = total issued price - preferred stock

total issued value = paid in capital in excess of par preferred stock + preferred stock = 14,000 + 260,000=$274,000

Average issue price = Total issue price / number of shares issued = $274,000/ 2600= 105.38 = $105

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3 years ago

You speculate in crude oil futures. Last month, you purchased ten January futures contracts at a quoted price of 99.91. These co

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Answer:

Loss of $397,100

Explanation:

The price in future contract is $99.91 per barrel, and actual price is $60.20

The loss per barrel = $99.91 - $60.20 = $39.71

Total loss = 10 contracts * 1000 barrels * loss of $39.71 per barrels =

= 10*1000*$39.71 = $397,100

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3 years ago

Read 2 more answers

Long-lived assets are reported in the balance sheet at _____ value, which is equal to its original cost less _____.

Long-lived assets are reported in the balance sheet at _ value, which is equal to its original cost less _.