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2 years ago

Case D. Stewart Company reports the following inventory record for November:

1 answer:

3 0

Net earnings beneath the LIFO approach: beneath the LIFO approach, income less: the value of products bought Gross earnings less: selling, admin, depreciation income before.

Final in, first out (LIFO) is a technique used to account for inventory. beneath LIFO, the expenses of the maximum recent products bought (or produced) are the primary ones to be expensed. LIFO is used most effectively inside the USA and governed via the commonly ordinary accounting standards (GAAP).

The LIFO method is used within the COGS (value of products sold) calculation while the fees of manufacturing a product or obtaining inventory have been growing. this will be because of inflation.

The ultimate-In, First-Out (LIFO) method assumes that the last unit to arrive in stock or greater latest is offered first. the first-In, First-Out (FIFO) approach assumes that the oldest unit of inventory is sold first.LIFO effects decrease internet earnings because the price of products offered is better, so there may be a decrease in taxable profits.” decreased tax legal responsibility is a key reason some organizations decide on LIFO.

Learn more about LIFO here: brainly.com/question/24938626

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On January 1, 2021, BBX issued $400,000 of its 8% bonds for $368,000. The bonds were priced to yield 10%. Interest is payable se

Alenkinab [10]

Answer:

the journal entry for recording the issuance of the bonds

January 1, 2021, bond issued at a discount

Dr Cash 368,000

Dr Discount on bonds payable 32,000

Cr Bonds payable 400,000

the journal entry to record first coupon payment

June 30, 2021, first coupon payment

Dr Interest expense 18,400

Cr Cash 16,000

Cr Discount on bonds payable 2,400

amortization of discount = (368,000 x 5%) - 16,000 = 2,400

the journal entry to record second coupon payment

December 31, 2021, second coupon payment

Dr Interest expense 18,520

Cr Cash 16,000

Cr Discount on bonds payable 2,520

amortization of discount = (370,400 x 5%) - 16,000 = 2,520

bonds' carrying value before adjustment = $372,920

bonds' fair value = $370,000

gain on fair value adjustment = $372,920 - $370,000 = $2,920

the journal entry to record the fair value adjustment of bonds

December 31, 2021, adjusting entry for bonds' fair market value

Dr Fair value adjustment 2,920

Cr Unrealized gain on bonds' fair value 2,920

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3 years ago

2. If the public expects a corporation to lose $5 a share this quarter and it actually loses $4, which is still the largest loss

inn [45]

Answer:

Price of the stock will rise or increase

Explanation:

Efficient market hypothesis states that price of stock factors in all information related to the stock. As such, nobody can take advantage of higher returns offered by a particular stock for a long time.

In line with efficient market efficiency, if public expected a bigger loss of $5 but loss was only for $4, the price of stock will increase. Though the company still suffers a loss, it is less than what was expected by the market, resulting in increase in stock price.

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4 years ago

Trends Inc. is an apparel company. To keep up with the latest changes in the fashion industry, the company has to come up with i

AlekseyPX

Answer:

Dominant culture

Explanation:

A dominant culture is a culture that is dominant and practiced within a certain organization, ethnicity, etc. This dominant culture could be a language, a certain value or custom.

In the above question, aggressiveness, innovation and risk taking are dominant cultures in Trends Inc. This means that the above 3 values are very dominant feature in the manner of operation and running of the trends Inc.

This means that in Trends Inc, each and every employee of the firm has the above dominant cultures inculcated in them as it is a prerequisite and it shows the firm's values.

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7 0

4 years ago

Read 2 more answers

When creating video marketing content on a budget, what is the first thing you should consider doing?

ozzi

Answer:Shooting as much as you can and culling it later

Explanation:

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3 years ago

What is the correct term that describes the withdraw of protection or support or the discontinuance of medical care without prop

Murljashka [212]

Answer: Abandonment.

Explanation:

According to the Oxford's Learner's Dictionary; abandonment is defined as "<em>the act of leaving a person, thing or place with no intention of returning" </em>or "<em>the act of giving up an idea or stopping an activity with no intention of returning to it"</em>

In medicine the term changes slightly and occurs when the benefits of the protection or support that a patient recieved is taken away without proper notification after the patient has been accepted.

This can occur in a number of different ways;

Doctor does not visit patient while the patient is at the hospital.
Doctor refuses to treat a patient who was previously accepted without reason or motive.
Failure to follow up with patient´s medical reports or health.
Failure to assign a substitute when not available. (for example, a woman is giving birth and the doctor leaves the hospital without checking the patient or following up with their health status and doesn't deliver the patient's notes to the doctor who is working the other shift)

It is not considered abandonment when the doctor-patient relationship is legally terminated. This happens when the physician and the patient mutually agree to terminate the relationship.

8 0

4 years ago