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3 years ago

The term "current financial resources" refers to

Business

1 answer:

Gwar [14]3 years ago

7 0

Answer:C. Assets that are available to be used for current expenditures

Explanation:

The running of a firm will be affected no matter how much asset it has if there are no current financial resources to meet his immediate obligations, the availability of assets convertible to immediate cash to meet current or immediate obligations is called current financial resources.

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Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 1/1 - Beginn

bixtya [17]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1/1 - Beginning Inventory (Quantity 1,000 - Price/Cost = $12)

2/4 - Purchase (Quantity 2,000 - Price/Cost = $18)

2/20 - Sale (Quantity 2,500 - Price/Cost = $30)

4/2 - Purchase (Quantity 3,000 - Price/Cost = $23)

11/4 - Sale (Quantity 2,200 - Price/Cost = $33)

Units sold= 4,700

1) Periodic - FIFO

COGS= 1,000*12 + 2,000*18 + 1,700*23= 87,100

2) Perpetual - FIFO

COGS= 1000*12 + 1500*18 + 500*18 + 1,700*23= $87,100

3) Periodic - LIFO

COGS= 3,000*23 + 1,700*18= $99,600

4) Perpetual - LIFO

COGS= 2,000*18 + 500*12 + 2,200*23= $92,600

5) Periodic - weighted

Average price= (12 + 18 + 23)/3= 17.67

COGS= 4,700*17.67= $83,049

6) Perpetual - weighted

COGS= 15* 2,500 + 17.67*2,200= $76,374

3 0

3 years ago

A company purchased 10 units for $5 on January 3. It purchased 10 units for $7 each on February 28. It sold 10 units on March 1.

NeTakaya

Answer:

The dollar amount for ending inventory using the last-in-first-out method of inventory valuation is $50

Explanation:

Using LIFO,last-in-first-out method of inventory valuation,items received last into the store are deemed to be sold first, hence the sales of 10 units on March 1 was the inventory purchased on February 28, leaving the items of inventory purchased on January 3 as closing inventory

value of closing inventory using LIFO=10*$5=$50

3 0

2 years ago

What is it called when the government uses some tool other than money to allocate goods?

erastovalidia [21]

A
Its rationing easily

7 0

3 years ago

Read 2 more answers

These are selected 2022 transactions for Pronghorn Corporation:

Nataly [62]

Answer:

December 31, 2022, amortization expense of copyright

Dr Amortization expense 19,500

Cr Copyright 19,500

December 31, 2022, amortization expense of patent

Dr Amortization expense 10,000

Cr Patent 10,000

No journal entry required for the Goodwill since its useful life is indefinite

5 0

2 years ago

Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life

Andrew [12]

Explanation:

The computation is shown below:

Year Depreciation Book value

0 $1,200,000

1 $125,000 $1,075,000

2 $125,000 $950,000

3 $125,000 $825,000

4 $125,000 $700,000

5 $125,000 $575,000

6 $125,000 $450,000

7 $125,000 $325,000

8 $125,000 $200,000

The depreciation expense is

= ($1,200,000 - $200,000) ÷ (8 years)

= $125,000

4 0

3 years ago