Answer: as a current liability
Explanation:
From the question, we are given the information that Orear Manufacturing signed a contract with a supplier to buy raw materials in 2021 for $700,000 and before the December 31, 2020 balance sheet date, the market price for these materials dropped to $510,000.
The journal entry to record this situation at December 31, 2020 will result in a credit that should be reported in the current liability. It should be noted that current liabilities are the liabilities for the financial obligations for a company on a short-term basis which are normally due within a period of one year.
Examples of current liabilities are accruwed expenses, accounts payables, short-term debt, and dividends payable.
Answer:
company can value of $190909.1
Explanation:
Given data:
current assets = $1,312,500
current liabilities = $525,000
initial inventory level is $380,000
current ratio = 2.2
current liabilities is calculated as 
plugging all value in above relation
current liabilities
current liabilities = $ 596590.90
and we know current liabilities is $525,000. Thus company can value of $190909.1
Answer:
Option (d) is correct.
Explanation:
The opportunity cost refers to the cost of selecting some other alternative over other. It is the value of activity or the satisfaction obtained from the good foregone to choose other alternative.
In our case, if Hal decided to go to college then he have to left his job where he earned some money income.
Therefore, the opportunity cost of attending college is the money income that Hal lose as he could have earned that income.
Answer:
158460 ( B )
Explanation:
Given data :
production department ; 56000 units
process inventory = 32% = 0.32
completed and transferred units = 167000
ending goods units = 14000, 67% complete = 0.67
attached below is the table representation of the solution
The number of equivalent units produced by the department
= ∑ all the variables listed on the table
= 38080 + 11100 + 9380 = 158460
