Answer:
$21
Explanation:
As we know that
The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value
In the given case
The cost is $23
And, the net realizable value is
= Expected selling price - selling cost
= $36 - $15
= $21
So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory
Organizations often have different operations. The starting point for preparing the operating activities section using the indirect method is Net income.
- Net income is simply known to be the gross profit and removing all other expenses, costs and any other income and revenue sources that are not included in gross income.
A lot of other costs is often removed from gross to make it be at net income. They include interest on debt, taxes, and operating expenses or overhead costs.
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Answer:
Elastic/ Inelastic
Explanation:
Price elasticity of demand is a tool use to measure in economics to show the elasticity, or responsiveness, of the demanded quantity of goods or services to increase in its price. When the price of a good or service changes, inelastic demand is when the buyer's demand does not change when the price of the good or service changes.
"B. Capital A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating."
Answer:
$157,440 ; $230,400
Explanation:
The computation is shown below:
For 2018
= Number of employees × number of vacations in a year × number of hours per day × wages per hour
= 80 employees × 12 days × 8 hours × $20.50
=$157,440
For 2021
= Number of employees × number of vacations in a year + number of vacations in a year - average of vacations × number of hours per day × wages per hour
= 80 employees × 12 days + 12 days - 9 days × 8 hours × $24
= $230,400
