Answer:
$28,000
Explanation:
Ending retained earnings = beginning retained earning + current earnings - dividends paid out.
for Jane's Bakery,
Beginning retained earning 0,
Dividends : $36,000
earnings = revenues - expenses
earnings = $130,000 - $ 66,000
=64,000
ending retained earnings = 0+$64,000- $36,000
=$28,000
Answer:
Explanation:
The applicable accounting standard IAS 2 (Inventory) requires that inventory be carried at the lower of cost or net realizable value.
Initial recognition of inventory is at cost. In other words, where the cost is lower than the net realizable value, inventory is written down to the net realizable value.
As such, when inventory declines in value below original (historical) cost, and this decline is considered other than temporary, the maximum amount that the inventory can be valued at is the net realizable value.
The right option is b. Net realizable value
Answer:
See explanation section.
Explanation:
P2 Zisk Co.
Budgeted cash payments
For the 2nd quarter
April May June
Accounts payable $22,000
70% in the month of purchase $56,000 $77,000 $84,000
30% in the month after purchase $24,000 $33,000
Budgeted cash payments $78,000 $101,000 $117,000
Total budgeted cash for the 2nd quarter = $296,000.
30% in the month after purchase means 30% amount will be given in the following month.
Answer:
The correct answer is (E)
Explanation:
MARS chocolate company will apply all the methods except financial ratios. Financial ratios cannot be used to forecast future sales in this specific situation. Financial ratios are used to analyse, and examine the current financial strength of an organisation, and it helps to compare the financial situation of a company. Financial ratios are used specifically for comparison between organisation’s current and preceding financials.
Answer: Cover up to $500 of liability
Explanation:
When one suspect that there has been unauthorized transactions in ones accounts which could be due to fraud, such business or person can make a complaint as soon as possible.
As soon as the report is made, the person is no longer in charge of the unauthorized use of such card. In a case whereby the loss is reported within two days, the liability is limited to $50 but when the report is made within 60 days after ones statement has been sent to the person or business, this may lead to a liability of $500.
Cover upto liability of $500. If the report is made within 60 days of receiving statement that shows fradulent transactions. If it is not reported within 60 days then the liability is unlimited.
