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
ella [17]
3 years ago
15

Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

Business
1 answer:
Kitty [74]3 years ago
4 0

Answer:

$4,373

Explanation:

we will check lower of cost or market for individual items:

Minolta :

= Market value per unit × No. of units

= 158 × 5

= $790

Canon :

= Cost per unit × No. of units

= 145 x 7

= $1,015

Vivitar:

=  Market value per unit × No. of units

= 114 x 12

= $1,368

Kodak:

= Cost per unit × No. of units

= 120 x 10

= $1,200

Total amount should be reported on Brik Camera Shop's financial statements:

= $790  + $1,015  + $1,368  + $1,200

= $4,373

You might be interested in
Fernandez Company had an accounts receivable balance of​ $150,000 on December​ 31, Year 2 and​ $175,000 on December​ 31, Year 3.
Mars2501 [29]

Answer:

The amount collected from customers on accounts receivable during year 3 is $535,000.

Explanation:

Cash received from accounts receivable = Opening balance of AR + Credit Sales - Bad debts written off - Closing balance of AR.

  • The opening balance for year 3 account receivables was 150000.
  • Credit Sales = 600000
  • Bad debts = 40000
  • Closing Balance = 175000

We can solve this question either by making a T account for accounts receivable or using the equation given above.

Cash = 150000 + 600000 - 40000 - 175000 = $535000

4 0
3 years ago
Read 2 more answers
Which is not an effective principle for preparing main points? A. Balance the amount of time given to each main point B. Make su
guajiro [1.7K]

Answer:

B. Make sure each main point is brief

Explanation:

Based on the answers provided within the question it can be said that answer that is not an effective principle for preparing main points is making sure each main point is brief. Main points need to be emphasized and thoroughly detailed as they are the most important aspects in a presentation. Only the subtopics may be made brief.

5 0
3 years ago
Read 2 more answers
Traditional career development programs of the past focused on helping an employee advance ________.
saveliy_v [14]
Traditional career development programs of the past focused on helping an employee advance <span>by holding a series of jobs in a single organization.</span>

3 0
4 years ago
What is one of the most common mistakes salespeople make?
Damm [24]

Answer: Correct answer is D. Overselling

Explanation:

It’ll be annoying. People just want to hear about the product and what it does.

4 0
3 years ago
Read 2 more answers
10. Describe two examples of equity investments.
Volgvan
<span> 1.A depositor in a bank or </span>credit union has only a few hundred dollars in deposits, he or she is indirectly an equity investor through the bank's stock portfolio. 2.<span>Investing in the </span>stock market<span> is a way of life in the United States</span> 
8 0
3 years ago
Read 2 more answers
Other questions:
  • A stock is a written promise to repay borrowed money at a later date; to raise money.
    7·1 answer
  • The probability of incurring bankruptcy increases as a firm's debt/equity ratio decreases. false true
    10·1 answer
  • The slope of a country's production possibility frontier with cloth measured on the horizontal and food measured on the vertical
    8·2 answers
  • Gina changes the amount of milk she purchases depending on whether it costs $1,$1.50, or $1.75 a pound. What other information d
    15·1 answer
  • During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel
    6·1 answer
  • Suppose 6 months ago a Swiss investor bought a 6-month U.S. Treasury bill at a price of $9,708.74, with a maturity value of $10,
    11·1 answer
  • When a business must decide between completing a project that is over budget and past due versus starting over, they are evaluat
    15·1 answer
  • Bob holds a portfolio of 20 stocks from different industries, whereas Sharon holds only one stock in her portfolio. Assuming the
    8·1 answer
  • Adecco Systems has a website service that allows the company to interact with its suppliers and share all types of data related
    13·1 answer
  • You're considering a project with an initial cost of $6400, what is the payback period for this project if the cash inflows are
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!