Answer:
$20,700 ordinary loss
Explanation:
Based on the information given if the first Operating assets generated a gain of the amount of $38,700 while the second assets generated a loss of the amount of $59,400 after been sold out which indicate or means that Hugo should recognize the amount of $20,700 ORDINARY LOSS which is calculated as :
Ordinary loss =-$59,400+$38,700
Ordinary loss =-$20,700
Therefore As a result of these sales, Hugo should recognize:$20,700 ORDINARY LOSS
Answer:
FIFO - $22,880
LIFO - $21,120
Explanation:
The FIFO inventory system means first in, first out. It means the initial inventory is the first to be sold. The ending inventory would consist of the last purchased inventory.
Ending inventory = 52 ×$440 = $22,880.
The LIFO inventory system means last in, first out. It means the last purchased inventory are the first to be sold . The ending inventory would consist of the initial inventories.
Ending inventory = (36 units × $400) + [(52-36) × 420] =$14,400 + $6,720 = $21,120
I hope my answer helps you
Answer:
insurance is important in that it helps you indemnity the losses occured after the risk occurrence
Explanation:
insurance ensures that you are covered from all period and hazards
Answer:
C) False consensus
Explanation:
False consensus refers to the trust what one feel regarding other and think as similar for other person as he thinks. Also in this the opinions of the other persons would not be considered
Since in the question it is mentioned that the majority of the other store managers would feel the same way so here the false consensus would be applied
hence, the correct option is c.
Answer:
The correct answer is C
Explanation:
The bad debt expense is the expense which is related to the current asset accounts receivable of the company. It is also recognized as the uncollectible accounts expense, which could not collected by the company in the near future.
It result when the company delivered the goods and services on credit and the customer did not paid the amount owed.
So, computing the bad debt expense as:
Bad debt expense = Estimated doubtful account - Credit balance of Allowance for doubtful accounts
= $3,600 - $600
= $3,000
ebts expense is related to a company's current asset accounts receivable. Bad debts expense is also referred to as uncollectible accounts expense or doubtful accounts expense. Bad debts expense results because a company delivered goods or services on credit and the customer did not pay the amount owed.
