Answer:
Dr. Inventory Write down............(91,000 - 71,600)....$19,400
Cr. Inventory.......................................................................................$19,400
Explanation:
The write down of the inventory value from at the end of the year with a historical cost of $ 91,000 to the current replacement cost is $ 71,600 will be recorded as follows:
<u>Journal Entries</u>
Dr. Inventory Write down............(91,000 - 71,600)....$19,400
Cr. Inventory.......................................................................................$19,400
<u>Being the write down of the value of inventory from historical cost to replacement cost at year end</u>
Answer: par value
Explanation:
The __________ value of stock is an amount assigned per share by the corporation in its charter. In many states, this amount establishes the minimum legal capital, which refers to the least amount that the buyers of stock must contribute or be subject to paying at future dates.
Answer
Par value of stock
Par value for a share refers to the stock value stated in the corporate charter.
Answer:
EBIT
Explanation:
As of 2018 US Tax law limits the tax deduction for interest payments to 30 percent of EBIT.
<em>The Office of Tax Policy develops and implements tax policies and programs, reviews regulations and rulings to administer the Internal Revenue Code.</em>
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Answer:
The answer is $400,000
Explanation:
Quantity theory of money states that the quantity of money is directly proportional total spending in an economy.
Change in quantity of money = new deposits (which can also be new security) ÷ reserve requirements
The new security is $20,000
reserve requirements is 5 percent
Change in quantity of money is:
$20,000 / 0.05
=$400,000
