That boys and girls aged 12-14 can be sold for food.
Answer:
False
Explanation:
Merchandise inventory is the stock that company have to kept in its godown while the account receivable is that when company sold the goods on credit basis to the customer
So here the company could received the payment within 12 months it can be in within month also
So the given statement is false
Answer:
C) Debit Cash $2.02 million; Credit Other financing sources $2.02 million
Explanation:
<u>A private firm will reocrd as follow:</u>
As the bonds are sold at a higher price than their face value we recognize a premium which will be amortized over the life of the bond.
<u><em>But in this case, we are doing a public accounting thus,</em></u> we must record the cash received and credit other financing sources for the whole amount funded.
Answer:
Answer for the question:
Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.
is given in the attachment.
Explanation:
