How much do you need invested to live off dividends.

On December 31, Cruise Company has 18,000 units of an inventory item, which cost $46 per unit when purchased on June 15. The sel

Maksim231197 [3]

Answer:

the inventory be reported at on the December 31 balance sheet is $828,000

Explanation:

Here the inventory should be recorded at lower of cost or net realizable value

Since the cost per unit is $46

And, the net realizable value is $48

So, the lowest cost per unit is $46

Now the ending inventory reported is

= 18,000 units × $46 per unit

= $828,000

hence, the inventory be reported at on the December 31 balance sheet is $828,000

6 0

2 years ago

Landhill Corporation is authorized to issue 49,000 shares of $5 par value common stock. During 2020, Sandhill took part in the f

spayn [35]

Answer: Please see answer in explanation column

Explanation:

1. Journal to record common stock issued

Account title Debit Credit

Cash $210,400

Common stock $22,500

Paid in capital in excess of par $187,900

common stock

Calculation:

Cash = 4,500 x $45 + $7900= $210,400

Common stock =4,500 x $5=$22,500

Paid in capital in excess of par common stock = Cash - Common stock =$210,400-$22,500=$187,900

2) To reccord Land purchased in exchange of common stock

Account title Debit Credit

Land $50,600

Common stock $ 5,500

Paid in capital in excess of par $45,100

common stock

Calculation:

Land= 1,100 x $46 = $50,600

Common stock =1,100 x $5=$5,500

Paid in capital in excess of par common stock = 1100 x (46-5)$41=45,100

3) To record purchase of treasury stock

Account title Debit Credit

Treasury stock $19,270

Cash $19,270

Calculation:

Treasury stock = 470 shares x$41= $19,270

8 0

2 years ago

The organizational environment is a set of forces and conditions that operate within an organization's boundaries. true false

julia-pushkina [17]

Answer:

False.

Explanation:

The organizational environment is a set of forces and conditions that operate outside an organization's boundaries and has the potential or capability of affecting its operations, resources and performance, either fully or in parts.

Some examples of an organizational environment are competitors or rivals, government policies, regulatory agencies, suppliers, customers etc.

8 0

3 years ago

The idea that as the quantity of an input increases, the additional output decreases (holding all else constant is called the La

Alina [70]

It is called the law of demand and supply whereby when the supply of commodity increases, the need reduces. The market becomes flooded with the items while the number of customers is constant. Moreover, when the supply of a good diminishes its demand goes up.

4 0

3 years ago

Belvedere Corporation had a balance in its Equipment account on January 1, Year 1 of $341,200. During the year, equipment origin

Varvara68 [4.7K]

Answer:

$56,600.00

Explanation:

The amount the company spent on purchase of additional equipment during year 1 can be ascertained using the formula below:

amount spent on additional equipment=ending balance of equipment-(beginning balance-cost of equipment sold)

ending balance of equipment is $304,700

beginning balance is $341,200

cost of equipment sold is $93,100

amount on additional equipment=$304,700-($341,200-$93,100)=$56,600.00

5 0

3 years ago