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2 years ago

12

The lifo cost flow assumption assumes that the cost of items purchased ______ are the costs that will be transferred first to co

st of goods sold on the ______ ______.

1 answer:

kkurt [141]2 years ago

3 0

Answer:
-Latest
-Income Statement

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Rowan Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categor

luda_lava [24]

Answer:

The correct answer is that the valuation would decrease total assets and stockholders’ equity by $101.00

Explanation:

Item Cost Market price Impact

Quantity

1 220 $ 4.40 $ 4.60 no impact as cost is lower

2 130 $ 6.20 $ 6.00 ($6.20-$6.00)* 130=$26

3 100 $ 10.00 $ 9.25 ($10-$9.25)*100 =$75

4 25 $ 20.50 $ 25.00 No impact as cost is lower

The total reduction in the value of inventory as a result of adopting the lower of cost or market price valuation is $101 ($75+$26),hence decreases total assets by $101 and the stockholders' equity(retained earnings which is a component of stockholders' equity ) by the same amount

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3 years ago

Read 2 more answers

The decision by GE to do business, through subsidiaries, with Iran would have been made at what organizational level? a. First-l

bekas [8.4K]

Answer:

D. Top management

Explanation:

The top management of a company has the duty to oversee the entire company's operation. They are also the one that make a decision which will heavily influence the company's position in the future.

A decision for company to do business with subsidiaries with another country possess a lot of risk. It tends to require a lot of investment but with equally higher return. Decision with this magnitude will most likely fall to the hands of the top managers in the company.

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3 years ago

Using the tables above, if an investment is made now for $20,000 that will generate a cash inflow of $8,000 a year for the next

Allushta [10]

Answer:

b. $5,360

Explanation:

Using a financial calculator with CF function, find the Net present value (NPV) of this projects cashflows;

Initial investment; CF0 = -20,000

Yr 1 cash inflow; C01 = 8,000

Yr 2 cash inflow; C02 = 8,000

Yr 3 cash inflow; C03 = 8,000

Yr 4 cash inflow; C04 = 8,000

and annual interest rate; I/Y = 10%

then compute net present value; CPT NPV = 5,358.924

Therefore, the NPV will be closest to $5,360

8 0

3 years ago

. Based on the following data, Accounts payable…………………………………………………..... $62,000 Accounts receivable…………………………………………………. 100,000

Temka [501]

Answer: $428,000

Explanation:

Given that,

Accounts payable = $62,000

Accounts receivable = 100,000

Cash = 30,000

Inventory = 138,000

Land = 160,000

Common Stock = 200,000

Revenue = 80,000

Dividends = 56,000

Expenses = 40,000

Total assets = Accounts receivable + Cash + Inventory + Land

= 100,000 + 30,000 + 138,000 + 160,000

= $428,000

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3 years ago

Which of the following are objects that can fulfill needs or wants?

ycow [4]

Answer:

the word objects makes me think B. also, wants can be fulfilled by objects, not tools or economics.

Explanation:

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2 years ago