<span>When economists say the supply of a product has decreased they mean that "Demand of product has been increased"
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Answer:
D
Explanation:
because some goals wont work if your other goals are interfering
Answer:
The company’s inventory be reported on the balance sheet as $3,150.
Explanation:
GAAP and IFRS requires that the inventory of the company should be recorded as Lower cost and Net realizable value of the inventory.
According to given data
Available Inventory = 210 units
Cost of Inventory = 210 units x $20 = $4,200
Net realizable value is the value of the inventory which can be recovered on the immediate sale. the current market value of the inventory is $15.
So,
Net realizable value is = 2,100 units x $15 = $3,150
As the Net realizable value is lower than the cost of the inventory, $3,150 should be reported as inventory on the balance sheet.
Answer:
A. $86,900
Explanation:
Henry’s capital account will be credited by the amount of $86,900. See computation below.
Cash $57,300
Equipment 34,100
Inventory 10,400
Note payable (14,900)
————
Total $86,900
*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.
*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.
Answer:
a. $12,000
Explanation:
The Cash of $2,000 had been set aside for the plant expansion does not affect the unrestricted retained earnings. it is just confirms that they have restricted the $2,000 of retained earnings for the plant expansion, in form of cash.
$3,000 of the retained earnings is restricted ($2,000 for plant expansion and $1,000 for bond repayments)
retained earnings is available for dividends = $15,000 - $3,000
= $12,000
Therefore, The retained earnings is available for dividends is $12,000
