1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Darina [25.2K]
3 years ago
11

Mariah Company has inventory at the end of the year with a historical cost of $ 91 comma 000. Mariah Company uses the perpetual

inventory system. Under the LCM​ rule, the current replacement cost is $ 71 comma 600. The company uses LIFO. Under U.S.​ GAAP, the journal entry to record the writeminusdown to LCM​ will:
Business
1 answer:
Marina86 [1]3 years ago
5 0

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>

You might be interested in
Types of Economic Data For each of the following e whether the data are cross-section, time series or panel data. (a) Quarterly
Nitella [24]

Answer:

A. Time series

B. Cross Sectional

C. Panel

D.  Cross Sectional

Explanation:

(a) Quarterly data on the level of U.S. new housing construction from 2000 to 2018, Time series data, numerical

(b) Data on number of doctor visits in 2018 for a sample of 192 individuals. Cross sectional data, numerical

(c) Data on annual health expenditures for each U.S. state from 2000 to 2018. Panel Data, Numerical

(d) Data on usual mode of transportation used to commute to work for a sample of 151 individuals. Categorical

3 0
3 years ago
Management in the News In April 2010, the explosion of British Petroleum’s (BP) Deepwater Horizon oil drilling rig and the accom
Firlakuza [10]

Answer:

Event Dimension BP stock prices falling 25% during the first month after the oil spill. <u>ECONOMIC. </u>

The Economic dimension of the environment deals with production in the economy which means that it deals with business entities and the financial system. Dimension BP stock price falling therefore falls under her.

Using deep-se submersibles to take pictures of the oil leak a mile below the surface of the water. <u>TECHNOLOGICAL. </u>

The Technological dimension of the environment refers to anything related to the use of technology and using deep-sea submersibles to take pictures of the leak below the surface of the water will definitely fall under technology.

People moving from Louisiana to Oklahoma to avoid the effects of the spill. <u>SOCIOCULTURAL. </u>

Sociocultural dimension deals with human beings and how they relate with themselves and the environment around them. People therefore moving from Louisiana to Oklahoma will fall under here.

3 0
2 years ago
uppose that Jack and Sophia and Hal enter into an agreement for the sale of the business without the non-competition agreement.
VladimirAG [237]
Jack up truck bought it to the safe do what you want
3 0
3 years ago
Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means that factory overhead wa
Viefleur [7K]

Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means that factory overhead was underapplied during the period.

<h3>What does an unfavorable overhead volume variance mean?</h3>

An unfavorable volume variance indicates that the amount of fixed manufacturing overhead costs applied (or assigned) to the manufacturer's output was less than the budgeted or planned amount of fixed manufacturing overhead costs for the same time period.

Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or projected costs. An unfavorable variance can alert management that the company's profit will be less than expected.

To learn more about Unfavorable variance  visit the link

brainly.com/question/24064163

#SPJ4

4 0
1 year ago
The opportunity cost of an action is
gogolik [260]

Answer:

d. the highest valued alternative forgone as the result of choosing an option

Explanation:

An opportunity cost is anything that you sacrificing one thing for the other due to lack of recources and Scarcity of time

For example leisure time and working hours

6 0
3 years ago
Other questions:
  • A large bureaucratic organization is about to undertake a massive change in the way they do business. These changes will include
    14·1 answer
  • Arrange the types of investments in the correct order from the least risky to the most risky investment.
    10·1 answer
  • Halliford Corporation expects to have earnings this coming year of $3/share. Halliford plans to retain all of its earnings for t
    5·1 answer
  • Shen manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash. On payday, he immediately g
    13·1 answer
  • A stability strategy is a grand strategy that involves little or no significant organizational change. For example, Love Forever
    9·1 answer
  • Steve's utility for socks (91) and other goods (92) is given by U(21,92) = 10q1.1 q2.9 The price of the composite good is p2=1 a
    14·1 answer
  • Why it’s difficult to find job?
    13·1 answer
  • Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,300, Work in Proc
    14·1 answer
  • When can a bank repossess someone's car?
    15·2 answers
  • Is the cap on inflows in calculating net outflows binding? is the bank in compliance with the lcr rule?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!