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larisa [96]
3 years ago
14

Shondee Corporation uses the lower of cost or market and FIFO inventory methods. At the end of 2018, the FIFO cost of the ending

inventory was $181,000, and the market value of the inventory was $160,000. The corporation switched to LIFO in 2019. If required, round your answer to the nearest dollar. As a result, Shondee Corporation must add: $ ______blank_____
to income for each of the years 2019, 2020, and 2021.
Business
1 answer:
Assoli18 [71]3 years ago
8 0

Answer:

reported as income for all three years   is $7,000

Explanation:

given data

cost of the ending inventory = $181,000

market value  inventory =  $160,000

to find out

Shondee Corporation must add income

solution

we get here Income per year that is

Income per year = (Value under FIFO Method - Value Under Cost Method ) ÷ Number of year      ..............................1

put here value we get

Income per year = \frac{181000 - 160000}{3}

Income per year =   \frac{21000}{3}

Income per year =  $7000

so reported as income for all three years   is $7,000

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3 years ago
You are an experienced manager, and you fortunately have the ability to use all four managerial styles: directing, coaching, sup
nikitadnepr [17]

Answer:

B) You should sit down with the programmers and give them information about how to deal with bugs as they occur.

Explanation:

Options:

A. You should focus on reassuring the programmers: give them pep talks and tell them you know that they have the skills to accomplish the job.

B. You should sit down with the programmers and give them information about how to deal with bugs as they occur. But make sure that you set aside time for extensive praise and support.

C. You should tell your programmers that the project is theirs—they can do what they want with it as long as they have something to show you in two months.

D. You should continue the focus on teaching your employees how to program, especially showing them new ways of increasing efficiency. The bugs will take care of themselves.

B) is correct answer

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4 0
3 years ago
Alex owns an event management company. His customer service strategy should______ focus on valuing customers for the growth of t
grigory [225]

Answer:

The correct answer is: "D. Both external and internal".

Explanation:

The only possible answer to fill in the space is letter D because it is reasonable to think that a company should focus both on external and internal values for customers in order to make it grow for both parts. As it is an event management company, it is very important to highligh the external demands and how they come and go with clients, agencies, and subsidiaries, while the company must take care of their internal customers who are more responsable for maintaining their strategy going on properly.

6 0
3 years ago
brainly Stuart Manufacturing Company was started on January 1, year 1, when it acquired $89,000 cash by issuing common stock. St
HACTEHA [7]

Answer:

Stuart Manufacturing Company

Assets = $107,200

Explanation:

a) Data and Calculations:

Cash Account

Common stock $89,000

Furniture            (32,000)

Equipment         (40,000)

Salaries               (12,000)

Wages                (21,000)

Raw materials   (26,000)

Sales                   72,000

Cash balance  $30,000

Inventory:

Cost = $26,000

Units produced = 10,000 units

Cost per unit = $2.60 ($26,000/10,000)

Cost of goods sold = 8,000 * $2.60 = $20,800

Ending inventory = 2,000 * $2.60 = $5,200

Sales Revenue = 8,000 * $9 = $72,000

Assets:

Cash                     $30,000

Ending inventory     5,200

Furniture               32,000

Equipment            40,000

Total                  $107,200

b) An asset is something that brings in future cash flows to the business entity.  It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments.  Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.

5 0
3 years ago
Does a business neceşsarily have obligations to anyone<br> besides stockholders?
Marina CMI [18]

Answer:

of course. Business have obligations and duties towards many parties. we call these people "stake holders". in other words, they are either interested in the business and activities or are effected by the business activities.

for an example, the community and the environment the business operates in are stakeholders and the firm has responsibility to ensure an environmental friendly production and practices are carried out by the firm.

Government and tax authorities are another example. firm has to make sure that the required disclosures are made and proper taxes are paid timely.

Potential investors are another example, the company has to make sure that they disclose all the relevant and material information that may give signals about the companies future and its direction.

Explanation:

8 0
3 years ago
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