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vitfil [10]
3 years ago
10

H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio

n about the five major items stocked for regular sale follows: ENDING INVENTORY, CURRENT YEARItemQuantityon HandUnit Cost When Acquired (FIFO)Net Realizable Value (Market) at Year-EndA 59 $24 $21 B 89 39 49 C 19 57 61 D 79 34 39 E 359 19 14 Required:Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis.
Business
1 answer:
irinina [24]3 years ago
6 0

Answer:

The calculation is shown below:

Explanation:

According to the scenario, the computation of the following data can be done as follows:

Total Cost = Quantity × Unit Cost

Total NRV = Net Realizable Value × Quantity

So, by putting the value in the formula, we get,

Item       Quantity     Total Cost        Total NRV    Lower of cost or NRV

A             59   $1,416.00         $1,239.00         $1,239.00

B             89   $3,471.00         $4,361.00         $3,471.00

C             19   $1,083.00        $1,159.00         $1,083.00

D             79   $2,686.00        $3,081.00         $2,686.00

E             359   $6,821.00         $5,026.00              $5,026.00

Total                   $15,477.00        $14,866.00         $13,505.00

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padilas [110]

Answer:

f(x) = -1.25x + 64 I hope this helps :)

Explanation:

total amount of money: $80

He spent $16 for the entrance of the fair and food.

80-(4+12) = 64

After that you subtract $1.25 per ride = -1.25x

Then it gives the function:

f(x) = -1.25x + 64

6 0
3 years ago
In the small country of Economerica, there are 6 thousand people employed, 1 thousand people unemployed, and 3 thousand people o
irakobra [83]

Answer: B. 20.00%

Explanation:

Unemployment rate does not include those who have given up on finding a job.

Unemployment rate = Unemployed people / Labor force

Unemployed people:

= Original unemployed + half the new graduates

= 1,000 + (1,000 / 2)

= 1,500 people

Labor force:

= Unemployed + employed people

= 1,500 + 6,000

= 7,500 people

Unemployment rate:

= 1,500 / 7,500

= 20%

3 0
3 years ago
Which of the following is a fundamental goal of CRM systems? a. To produce and deliver a product or service at the time the cust
frutty [35]

Answer:

The correct answer is letter "C": To manage and track customer interactions.

Explanation:

Customer Relationship Management (CRM) is a managerial approach that uses Information Technology (IT) to store, analyze, and use customer information to find out trends in consumption and generate a better relationship with clients. CRM is a key component in the pursuit of engaging customers with a brand that allows corporations to maintain steady sales levels or increase it.

CRM allows sharing and maximizing the knowledge of clients to understand their needs and anticipate them.

5 0
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Which of the following statements is CORRECT? Question 9 options: The AFN equation for forecasting funds requirements requires o
EastWind [94]

AFN has negative and positive sides. The correct statement is A negative AFN indicates that retained earnings and spontaneous liabilities are far more than sufficient to finance the additional assets needed.

  • AFN is known as Projected increase in assets – spontaneous increase in liabilities – any increase in retained earnings.

When the AFN value is negative, it means the action or project that is underwork will bring about extra income for the company, which can be invested in another place.

Additional funds needed (AFN) is known as financial term used when a business intends to widen its operations.

Learn more About AFN from

brainly.com/question/13203205

3 0
2 years ago
Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, em
Darya [45]

Answer:

Clooney Corp.

Petty Cash Journal Entry

<em>Sr. No                     Particulars             Debit           Credit</em>

1                    Petty Cash                      $200

                             Cash                                            $200

Establishing Petty Cash

2.   (Employee Name;s ) Entertainment Expenses    $25 Dr

                     Petty Cash                                        $ 25 Cr

Recording employee petty cash expenditures

Credit Card Expenditures Entries

1.                            Postage,                  $44;  Dr

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                           Credit Card Payable                 147 Cr

Credit Card Payable is a liability and appears in the balance sheet . It has to be paid in the future.

2.                    Credit Card Payable           147 Dr.

                          Cash                                                  147 Cr

When the liability is paid this entry is made.

4 0
3 years ago
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