Answer:
$0
Explanation:
Data given in the information
Product X is the byproduct.
In addition, the By products are recorded in the general ledger at the point of sale
So in this case, the quantity sold is considered only no other things would be recognized
Hence, in this the quantity sold and quantity produced is not recorded
Therefore , No ending inventory should be recognized in the general ledger for this by products
Answer:
correct option is C. $1,250,000
Explanation:
given data
Light poles = $350,000
cost reimbursement = $65,000
electric power to residents = 1,250,000
to find out
which statement accounted for in an enterprise fund
solution
statement accounted for in an enterprise fund is here
particular amount
Equipment used for supplying $1250000
electric power to residents
enterprise fund $1250000
so correct option is C. $1,250,000
Answer:
Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.
Most Liquid - A $5 bill
This is already cash so it is the most liquid there is.
Second-Most Liquid - The funds in a money market account
Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.
Third-Most Liquid - A share in a publicly traded company
A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.
Least Liquid - Your house
Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.
Answer:
DR Inventory $609,000
Land $1,086,750
Buildings $2,138,250
Customer Relationships $842,250
Goodwill $965,750
CR Accounts Payable $102,000
Common Stock $56,400
Additional Paid-In Capital $1,353,600
Cash $4,130,000
Working
Common Stock = 28,200 shares * $2 = $56,400
Additional Paid in Cap = 28,200 shares * ( 50 - 2) = $1,353,600
DR Additional Paid-In Capital $32,400
CR Cash $32,400
DR Professional Services Expense $49,800
CR Cash $49,800
