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Luden [163]
3 years ago
7

Because of a decline in market price in the second quarter, Petal Co. incurred an inventory loss, but the market price was expec

ted to return to previous levels by the end of the year. At the end of the year, the decline had not reversed. Petal accounts for its inventory using the LIFO method. When should the loss be reported in Petal’s interim income statements?
Business
1 answer:
Sonja [21]3 years ago
5 0

Answer:

In the fourth quarter only.

When the loss is probable and estimable, the expected loss must be recorded in full. This loss becomes such at the end of the fourth quarter. Therefore, the inventory must be valued on the year-end at the lower of cost or market, recognizing the loss at that time.

Explanation:

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You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having his big 21st
nalin [4]

Answer:

My answer would be don't go, Since we are almost in the red positive for Corona, U might have a chance of catching it from her or the people at her party. On the other hand, u can do a virtual party over the phone/laptop. I understand it's difficult to avoid your bestfriend because of Corona, but technically it's for your own good. If it makes you feel better, I had to miss my Bestfriend B-Day because I was scared to get Corona.

Explanation:

4 0
3 years ago
Read 2 more answers
While the role of the state in a command economy is to be __________, in a market economy the state's role is to be __________?
MatroZZZ [7]
<span>While the role of the state in a command economy is to be Dominant, in a market economy the state's role is to be Passive


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3 0
3 years ago
Mary begins an internship at a small company that makes touchscreens for imported smartphones. Her first assignment is to estima
vova2212 [387]

Answer:

Mary should answer that more than half of the boxes not be rejected.

Explanation:

Probability:

Box has one defective screen = 0.6

Box has three defective screen = 0.4

no. of screens in a box = 8

The box is rejected if both of the inspected screens are defective.

Probability of rejecting a box:

=0.6\times\frac{1}{8}\times\frac{0}{7} + 0.4\times\frac{3}{8}\times\frac{2}{7}

= 0.04286

Only 4.286% of the boxes will be rejected.

Therefore, Mary should answer that more than half of the boxes not be rejected.

6 0
3 years ago
QUESTION 31 Kumar Consulting operates several stock investment portfolios that are used by firms for investment of pension plan
ElenaW [278]

Answer:

The portfolio's alpha is - 0.15%

Explanation:

For computing the portfolio's alpha, first, we have to compute the expected rate of return. The formula is shown below:

Expected rate of return = Risk free rate of return + Beta × (realized rate of return - free rate of return)

= 7% + 1.15 × (12% -  7%)

= 7% + 1.15 × 5%

= 7% + 5.75%

= 12.75%

Now the portfolio alpha equal to

= Expected rate of return -  portfolio realized rate of return

=  12.75% - 12.6%

= - 0.15%

7 0
3 years ago
In which statement(s) is "demand" used correctly?
bixtya [17]

Answer:

its Two

Explanation:

6 0
3 years ago
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