All categories

4 years ago

Raw material inventory appears on the

Business

2 answers:

rosijanka [135]4 years ago

5 0

Raw material inventory on hand is reported on the balance sheet and is considered a company asset.

frez [133]4 years ago

3 0

Answer:

d. both A and C

Explanation:

On the balance sheet as a current asset and on The COGM statement under the work in progress inventory

You might be interested in

At the beginning of the year, Scaled Manufacturing estimates annual overhead costs tobe $1,200,000 and that 300,000 machine hour

Paraphin [41]

Answer:

Manufacturing overhead allocated= $1,260,000

Explanation:

Giving the following information:

Scaled Manufacturing estimates annual overhead costs to be $1,200,000 and that 300,000 machine hours will be operated. Using machine hours as a base.

The actual machine hours for the year were 315,000 hours.

We need to find the overhead applied. First, we need to determine the overhead rate.

Overhead rate= total estimated overhead for the period/ total amount of allocation base

Overhead rate= 1200000/300000= $4 per hour

Manufacturing overhead allocated= 315000 hours* 4= $1,260,000

4 0

4 years ago

Clark’s Landscaping bills customers subject to terms 3/20, n/60.

Law Incorporation [45]

Answer: 28.20%

Explanation:

To compute the annual interest rate implicit in the sales discount for thus:

Firstly, we have to calculate the difference that exist between the payment date and the due date and then divide by 365 days which has been given in the question. This will be:

= 60 days - 20 days = 40 days

= 365days/40days

= 9.125%

Secondly, we will then subtract the percentage discount from 100% and then divide the result. Since discount percentage is 3%, this will be:

= 3%/(100% - 3%)

= 3%/97%

= 0.03/0.97

= 0.0309278351

= 3.09%

Lastly, we then multiply the result of the calculations above together in order to get the annualized interest rate. This will be:

= 9.125% × 3.09%

= 28.19625%

= 28.20%

Annualized interest rate. =28.20%

4 0

4 years ago

What type of audit occurs at your home or business

Vikentia [17]

The type of audit that occurs at your home or in the business is called the field. It is because the field is the place like home or business in which the IRS goes to in means of conducting the investigation in regards with them and their tax payer.

8 0

3 years ago

On August 31, 2018, Brooke Tallen borrowed $ 6 comma 000 from Boulware State Bank. Tallen signed a note payable, promising to

Dimas [21]

Answer:

When Boulware State Bank lend money

Note Receivable $6,000 (debit)

Cash $6,000 (credit)

When Interest accrues on the Note Receivable on June 30, 2019.

Note Receivable $600 (debit)

Interest Income $600 (credit).

When the Interest and Principle are collected on August 31, 2019

Cash $6,720 (debit)

Note Receivable $6,720 (credit)

Explanation:

When Boulware State Bank lending money

Recognize an Asset - Note Receivable and a decrease in the assets of Cash.

Note Receivable $6,000 (debit)

Cash $6,000 (credit)

When Interest accrues on the Note Receivable on June 30, 2019.

Hint :Interest that expires is for 10 months and must be accounted as such.

Note Receivable $600 (debit)

Interest Income $600 (credit)

Interest Income = $6,000 × 12% × 10/12

= $600.

When the Interest and Principle are collected on August 31, 2019

Interest for July and August for 2020 must first be accounted.

Note Receivable $120 (debit)

Interest Income $120 (credit)

Interest Income = $6,000 × 12% × 2/12

= $120.

Thus entry to record collection of principal and interest will be :

Cash $6,720 (debit)

Note Receivable $6,720 (credit)

Note Receivable = Principle + 2019 interest + 2020 interest

= $6,000 + $600 + $120

= $6,720

4 0

3 years ago

Define liquidity risk and explain how it relates to bonds and bond yields.

nadya68 [22]

Answer:

Liquidity risk is the inability to quickly sell a bond for its full value. This risk exists primarily in thinly traded issues. Default risk is the likelihood the issuer will default on its bond obligations and is the basis for bond ratings.

Liquidity is a prime determiner of yield spreads, explaining up to half of the cross-sectional variation in spread levels and up to two times the cross-sectional variation in spread changes that is explained by the effects of credit rating alone.

Liquidity risk Liquidity refers to the investor's ability to sell a bond quickly and at an efficient price, as reflected in the bid-ask spread. High-yield bonds can sometimes be less liquid than investment-grade bonds, depending on the issuer and the market conditions at any given time.

(If some parts overlap/relate to the exactly to other parts, I'm sorry. But there ya go !)

5 0

3 years ago