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Vlada [557]
3 years ago
13

Sheridan Company signed a long-term non cancellable purchase commitment with a major supplier to purchase raw materials in 2021

at a cost of $1,001,800. At December 31, 2020, the raw materials to be purchased have a market value of $948,900. In 2021, Sheridan paid $1,001,800 to obtain the raw materials which were worth $948,900. Prepare the entry to record the purchase.
Business
1 answer:
stepan [7]3 years ago
6 0

Answer:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

Estimated liability on purchase commitments ( $ 1,001,800 - $ 948,900 ) $ 52,900 Cr

Explanation:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

Estimated liability on purchase commitments ( $ 1,001,800 - $ 948,900 ) $ 52,900 Cr

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Baldwin Corp. ended the year carrying $21,580,000 worth of inventory. Had they sold their entire inventory at their current pric
IceJOKER [234]

Explanation:

The given question cannot be answered as little information is provided.  However it shall be an amount if $21,580,000. For, complete analysis we need to understand  the current prices and various other variable costs. We know that the contribution margin is the Sale Price (SP) minus the Variable Cost (VC). It is the number of sales per unit that will be available to service fixed expenses and to generate the profit.

Therefore, to determine a more detailed answers more inputs are needed.  

8 0
3 years ago
Which of the following policies is the government most inclined to use when faced with a positive externality? Group of answer c
In-s [12.5K]

Answer:

subsidies

Explanation:

Subsidies refer to financial aid for some specific purpose and to some specific category as decided by the government. As for the instance the government can provide subsidy in the form of house to poor people in the country.

Now here the rich people can afford their own houses and that they can pay the taxes as well which are attached to the the houses, which provide extra benefit to the poor, as the government can provide the subsidy then more efficiently.

The positive externalities increase the benefits for every citizen.

4 0
3 years ago
In 2019, Alliant Corporation acquired Centerpoint Inc. for $352 million, of which $62 million was allocated to goodwill. At the
Komok [63]

Answer:

1. $34 million

2. $0

Explanation:

Given that,

Fair value of Centerpoint Inc = $256 million

Book value of Centerpoint's net assets (excluding goodwill) = $228 million

Book value of Centerpoint's net assets (including goodwill) = 290 million

1. Actual Value of Goodwill:

= Fair Value of Centrepoint Inc. - Book Value of Net assets (excluding goodwill)

= $256 million - 228 million

= $28 million

Loss on Impairment of Goodwill:

= Goodwill recorded - Actual value of goodwill

= $62 million - $28 million

= $34 million

2. In this case Fair value of ($318 million) is more than Book value ($290 million) then there will be no Impairment Loss.

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6 0
3 years ago
Canon was able to redesign the copying machine so that it didn't need professional service—reliability was built directly into t
Studentka2010 [4]

Answer:

architectural innovation

Explanation:

The scenario is describing the term known as architectural innovation. This refers to the innovation of the specific architecture of any product that changes and/or modifies the way the different components of the machine link or relate to each other, thus allowing it to perform new functions or the same functions but in a much more user-friendly manner. This is what Canon did by changing the architecture of the copying machine so that it was more user-friendly for the end consumer.

5 0
3 years ago
3. What fallacy is illustrated by the following statement? "This work is driving me crazy!"
disa [49]
<h3>Statement by Fallacy</h3>

"This work is driving me crazy!"

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<h3>Customer Behaviour</h3>

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She is unable to leave the job as it is a well paid job and she is not able to find another job that can pay her this much salary.

Learn more about Business at brainly.com/question/26675384

3 0
2 years ago
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