Answer:yes and yea and no
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I already did that question your welcome
The one that fits here is liability. All the debts owed by a business are called liabilities. We can say that is a normal debt or obligations that arise during the course of its business operations. These ones are settled <span>over time through the transfer of economic benefits including money, goods or services.</span>
A major difference between IFRS and GAAP relates to the A Revaluation Surplus Account.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
This reserve is only used when the organization prepares its financial statements in accordance with International Financial Reporting Standards. No revaluation reserve is allowed for companies using generally accepted accounting principles.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
Learn more about Revaluation here: brainly.com/question/19908089
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That city has <span>purchase money security interest.
</span><span>purchase money security interest refers to a type of claiming rights that enables lender to make acquistion towards a certain asset in higher priority than other creditors. This type of rights is really important to secure the lender's profit in case the borrowers fail to return the credit (or went bankrupt)</span>
Answer:
COST OF Goods SOLD $ 1,1539,110
Explanation:
Fultz Company
Schedule of Cost of Goods Sold for 2020
As there are no beginning and ending finished goods inventories the total units produced are sold. (Finished Goods required 31410 Units)
Inventories raw materials : beginning, 10,120 pounds
Add Direct Materials Purchases 36770 pounds
Less Inventories ending raw materials , 15,480 pounds
Direct Materials Used 31410 pounds
Materials 1 pound at $6 per pound= $ 6* 31410 Units= $ 188460
Direct labor 3 hours at $12 per hour= $ 36* 31410 Units= $ 1130780
Manufacturing Overhead $7 per direct labor hour= $ 7* 31410 Units=
$ 219870
Total Manufacturing Costs $ 1,1539,110
There are no beginning and ending work in process inventories so the total manufacturing cost gives us the COST OF Goods SOLD.
