Answer:
$64
Explanation:
The computation of final lower-of-cost-or-market inventory value is given below:-
Ceiling LCM = Estimated selling price - Cost to disposal or NRV ($68)
Floor LCM = NRV - Normal profit
= $68 - $4
= $64
Conditions: 1)When the cost of replacement is greater than the LCM ceiling then the LCM ceiling is considered the market cost.
2)If the cost of replacement is greater than floor LCM then floor LCM is considered to be the market cost
So, second condition is satisfied.
The market value is $64, cost is $76.
Lower of cost or market rate is $64
Answer:
$375
Explanation:
A stock you own earned: $200, $500, $100, and $700 over the last four years.
We need to find the annual gain in value over the four years. We know that,
Mean = sum of observations/total no. of observations
Put all the values,
So, the required mean annual gain is equal to $375.
Answer and Explanation:
The computation of the effective interest rate is shown below:
For Fidelity bank
= (2 × 4 × $150,000 × 0.12) ÷ (4 +1 )× ($150,000 - $18,000 - ($150,000 × 26%)
= 30.97%
For southwest bank
= (2 × 12 × $150,000 × 0.12) ÷ (12+1 )× ($150,000 - ($150,000 × 13%)
= 25.46%
Answer:
$3,400
Explanation:
Out of five day workweek, accounting period ends on Thursday which indicates that employees work only for 4 days. Therefore, salaries are earned only for 4 working days and unpaid at the end of the accounting period
Salaries earned but unpaid= 4 working days * $850 per day = $3,400
Hence, salaries earned but unpaid at the end of the account period is $3,400
