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Vaselesa [24]
3 years ago
5

At year end, CurlZ Inc.'s inventory consists of 100 bottles of CleanZ with a cost of $1, and a selling price of $0.80 per bottle

. It also has 100 boxes of DyeZ with a cost of $10, and a selling price of $11 per box. Using the lower of cost and net realizable value method, the year-end Inventory balance should include which of the following amounts?
Business
1 answer:
cluponka [151]3 years ago
5 0

Answer:

$1,080

Explanation:

The inventory of Curlz Inc. shall be valued at lower of cost and net realizable value.

In case of CleanZ, since the net realizable value is lower than the cost, therefore the inventory of CleanZ shall be placed at net realizable value which is $0.80 per bottle.

In case of DyeZ , since the net realizable value is higher than the cost, therefore the inventory of DyeZ shall be valued at cost which is $10 per bottle.

Value of CleanZ=100*0.80          $80

Value of DyeZ=100*10                 $1,000

Total value of inventory               $1,080

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On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature
Kazeer [188]

Answer:

Bond Price = $97.4457408 million rounded off to $97.45 million

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is an annual bond, the coupon payment, number of periods and annual YTM will be,

Coupon Payment (C) = 113 million * 0.05 = 5.65 million

Total periods (n) = 30

r or YTM = 0.06 or 6%

The formula to calculate the price of the bonds today is attached.

Bond Price =5.65 * [( 1 - (1+0.06)^-30) / 0.06]  +  113 / (1+0.06)^30

Bond Price = $97.4457408 million rounded off to $97.45 million

4 0
2 years ago
Debt is generally the least expensive source of capital. This is primarily due to ________. debts fixed interest payments and fi
drek231 [11]

Answer: Debt being less risky than equity and interest payments being tax deductible.

Explanation: Debt securities are the securities having fixed interest rates and a fixed time period to maturity. The debt holders are not considered owners of the company but rather they are the the creditors.

Debt is considered the cheapest source of finance for a number of reasons the main of which is the interest payments on debt could be deducted as expense  while computing taxable income .

6 0
3 years ago
Flint Inc. has decided to purchase equipment from Central Michigan Industries on January 2, 2017, to expand its production capac
ddd [48]

Answer:

Please see the answers below:

Explanation:

1.

Debit: Equipment         $912,000

Credit: Notes Payable                 $912,000

To record purchase of equipment at zero interest bearing note Central Michigan.

2.

Debit: Notes Payable        $182,400

Debit: Interest Payable      $20,064

Credit: Cash                                     $202,464

To record Cash Payment of 1st year Installment and Interest.

3.

Debit: Notes Payable        $182,400

Debit: Interest Payable      $20,064

Credit: Cash                                     $202,464

To record Cash Payment of 2nd year Installment and Interest.

4.

Debit: Depreciation Expense          $91,200

Credit: Accumulated Depreciation               $91,200

To record Depreciation Expense on Equipment over the life of 10 years with no salvage value. (Straight Line Depreciation is employed).

6 0
2 years ago
Based on employment statistics for 2010, which ranks the number of jobs in these careers from least to greatest? Crop Production
NemiM [27]

Answer:

Elementary Education → Accounting → Pharmacy → Crop Production

Explanation:

According to the employment statistics, Elementary education employs the least, and Crop production employs the largest number.

3 0
3 years ago
Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances w
kakasveta [241]

Complete question:

Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance.

What is Bradley's minimum payment?

A) $158

B) $189

C) $270

D) $1,890

Answer:

Bradley's minimum payment is (C) $270.

<h3>What is the percentage?</h3>
  • A percentage is a fraction of a whole expressed as a number between 0 and 100.
  • Nothing is zero percent, everything is 100 percent, half of everything is fifty percent, and nothing is zero percent.
  • To calculate a percentage, divide the share of the total by the total and multiply by 100.
<h3>Solution -</h3>

Given - 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Her minimum payment is 3 percent of the balance.

So, to find the minimum payment find 3% of $9000.

3% of $9,000 = $270.

Therefore, Bradley's minimum payment is (C) $270.

Know more about percentages here:

brainly.com/question/24304697

#SPJ4

8 0
2 years ago
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