Answer: rotate the bottom to the right, top to bottom and right to top
Explanation:
Answer:
The December 31 balance sheet should show the following liabilities:
Current liabilities:
Current portion of notes payable $250,000
Long term liabilities:
Notes payable $750,000
Current liabilities include all the liabilities that are due within one year of the presentation of the balance sheet. While long term liabilities include all the liabilities that are due in more than one year.
Even if the total liability is due in more than one year, but a tranche or installment is due within one year, this must be included as current portion of long term liability under current liabilities.
Answer:
a. Starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
Explanation:
Dollar-value LIFO refers a technique of accounting that employed for inventory based on the last-in-first-out model.
To obtain the dollar-value LIFO, the conversion price index that will be used to calculate the LIFO cost layer for each period must be calculated first.
Therefore, Dollar-value LIFO starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
Answer:
Total Cost Per Product is $1.60
Explanation:
From the question the following information are derived:
Direct raw material cost per product = $1.50
The cost of the filter for producing 500 products = $50
Hence, the cost of the filter per product = $(50 / 500) = $0.10
In this question, No cost of labor is given, we can now decide the following
Total Cost per product = $(1.50 + 0.10)
= $1.60
Total Cost Per Product in this account is $1.60
