Answer:
Best estimate for inventory =$70,764.85
Explanation:
The closing inventory value at retail
= (Opening inventory + Purchases - sales) all in retail prices
= $123,000 + $483,000 - 493,000.
= 113000
Closing inventory value at cost
=113,000 × (64,500 + 315,000)/(123,000 + $483,000)
=70,764.85
Best estimate for inventory =$70,764.85
D because in the cover letter its more like a interview where you talk about yourself rather than only talking about your strengths and weaknesses and what your applying for
Answer:
D. expropriation.
Explanation:
Oilers, Inc. refines and markets its energy products in different nations around the world. In addition, Oilers' stockholders and managers come from many different nations. If some of the nations where it operates decided to take over the assets of the company, this act would constitute an <u>expropriation.</u>
Expropriation: It is an act of government for taking private property against the will of the owner for the benefit of the overall public by building roads, highways, flyovers, airports, etc. The owner is just compensated as per government policy. This is an act of getting Expropriated. In legal terms, it is an exercise of eminent domain power.
Answer and Explanation:
For materials
Equivalent completed units = Completed units + WIP ending
= 111,700 + 20,300
= 132,000 units
Cost of materials = Beginning WIP + Cost of materials added
= 22,300 + 370,000
= $392,300
Cost of material per units = 392,300 ÷ 132,000
= $2.97197
For conversions
Equivalent completed units = Completed units + WIP ending
= 111,700 + 20,300 × 30%
= 117,790 units
Cost of Conversion = Beginning WIP + Cost of conversion added
= 19,700 + 280,000
= $299,700
Cost of conversion per units = 299,700 ÷ 117,790
= $2.54436
Total cost of units completed and transferred out
= 111,700 × (2.97197 + 2.54436)
= $616,174
Answer:
Cr Bonds Payable account 50,000
Cr Premium on Bonds Payable account 2,000
Explanation:
The complete journal record should be:
- Dr Cash account 52,000
- Cr Bonds Payable account 50,000
- Cr Premium on Bonds Payable account 2,000
Since cash is an asset and it increases, it should be debited.
Since bonds payable and premium on bonds payable are liabilities and they increase, they should be credited.
