Answer:Skysong journal $
Date
December 2020
Raw material Dr 984,100
Loss on raw material 48,000
Supplier Cr 1,032,100
Narration. recognition of raw materials purchased at agreed value.
2021
Supplier Dr. 1,032,100
Bank Cr. 1,032,100
Narration. Payment for raw materials purchased at agreed value.
Explanation:
The raw materials needs to be paid for at the agreed value not withstand ing the fall in value. However stock are to be recognized at cost or net realisable value which ever is less and since the market value of the stock has dropped this has to be recognized as a loss in the income statement to avoid the stock been over value.
Answer:
EEOC
Explanation:
The staff probably work for Equal Employment Opportunity Commission (EEOC), an agency designed to analyse the implementation of federals laws. The agency is liable to visit corporations to investigate the discrepancies, and to ensure that the laws are implemented. They enforced the laws, and investigate the complains of the general public regarding employment discrimination.
Answer:
Cash $10,430 ; Cash equivalents $20,400
Explanation.
Cash consist of all currencies in hand or any convertible asset which can be converted to cash immediately.
It is to be noted that the assets with high liquidity will be included in cash and cash equivalent balance. They can quickly be converted to cash and would normally have 90 or lesser days to mature.
Solution.
$
Cash in bank. 8,540
Petty cash. 250
Check from customer. 1,350
Money order. 290
Cash. 10,430
The check has a very short maturity period since it will clear within 3-4 working days.
Money order can be cashed immediately .
Therefore;
Cash value is $10,430
For cash equivalent,
Cash equivalent = Money market fund balance + Treasury bills maturing in 60days
Cash equivalents = $10,400 + $10,000
=$20,400.
The amounts considered as cash and cash equivalents as of 31 December are ;
Cash $10,430 , $20,400 respectively.
I think A. Because I think it is very important to meet new people and getting to know them.