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4vir4ik [10]
3 years ago
8

Natalia has just finished her law degree, but as she starts her job search, she realizes that there many lawyers practicing in h

er area. What might that mean for Natalia
Business
1 answer:
Len [333]3 years ago
5 0
That means that she is going to have to work harder to be the best lawyer in the area, or move to an area with fewer lawyers
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A module that performs a single function or task has a high degree of ____, which is desirable.
AleksAgata [21]
The correct answer is <span>Cohesion. If it only does one thing it's very cohesive and this is desirable because it means there's high efficiency and there's little room for failure. If it was extremely complex and was doing many things there would be many things that could go wrong and this is not desirable in production.</span>
5 0
3 years ago
Davidson Electronics has the following: Units Unit Cost Inventory, Jan. 1 5,000 $ 8 Purchase, April 2 15,000 10 Purchase, Aug. 2
Alina [70]

Answer:

$84,000

Explanation:

The computation of the ending inventory using the FIFO method under the periodic inventory system is shown below:

Since 7,000 units are on hand which represents the 7,000 units are taken from the August 28 date for $12 each i.e

= 7,000 units × $12

= $84,000

By dividing the 7,000 units at $12 each we can get the ending inventory

7 0
3 years ago
On January 1, Year 1 Missouri Co. purchased a truck that cost $49,000. The truck had an expected useful life of 10 years and a $
serg [7]

Answer:

The amount of depreciation expense recognized in Year 2= $7,800.

Explanation:

<u>Determine the depreciation base</u>

The depreciation base = Acquisition cost - Residual/Salvage value.

The depreciation base = 49,000 - 5,000

The depreciation base = $44,000.

<u>Determining the depreciation rate</u>

The depreciation rate = depreciation base / Useful life

The depreciation rate = 44,000/10

The depreciation rate = $ 4,400.

<u>To determine depreciation % rate </u>

Depreciation  % rate = (The depreciation rate  / depreciation base) × 100

Depreciation  % rate = (4,400 / 44,000) × 100

Depreciation % rate = 10 %

But since Missouri Co. uses double declining balance method of depreciation, the correct depreciation % rate is 10 × 2 = 20%

<u>Determining the depreciation expense for year 2</u>

Year 2 depreciation expense is computed as follows:

(Acquisition cost - year 1 depreciation expense) × Depreciation % rate

Depreciation expense for year 2 is computed as:

Acquisition cost × Depreciation % rate = 49,000 × 20%

Year 1 depreciation expense = $9,800.

Therefore year 2 depreciation expense = (49,000  - 9,800.) × 20%

Therefore year 2 depreciation expense = $ 7,800.

8 0
3 years ago
Who files one of the 1040 series of tax forms??
My name is Ann [436]
D. (It’s the kind I filed every year when I was employed by the state school system.)
8 0
3 years ago
Read 2 more answers
The use of the lower of cost or net realizable value (LCNRV) method to value inventory for reporting purposes is a departure fro
Wewaii [24]

Question:

The use of the lower of cost or net realizable value (LCNRV) method to value inventory for reporting purposes is a departure from the accounting principle of:

A) Historical cost.

B) Matching.

C) Going concern.

D) Conservatism.  

Answer:

The Right answer is A) Historical Cost.

Explanation:

Inventories are recorded at their cost. If inventory declines in value below its original cost, a major departure from the historical cost principle occurs.

Whatever the reason for a decline-damage, physical deterioration, obsolesce, changes in price levels, or other causes, a company should write down the inventory to Lower-of-Cost or Net Realizable Value (LCNRV) to report this loss.

A company abandons the historical cost principle when the future utility (revenue-producing ability) of the asset drops below its original cost.

Net Realizable Value refers to the net amount that a company expects to realize from the sale of inventory. Specifically, net realizable value is the estimated selling price in the normal course of business minus estimated costs to make a sale.

Example

Inventory  Value - Unfinished                                         $2,000

Less: Estimated Cost of Completion          $  50

Estimated Cost to sell                                    <u>200</u>           <u>     250</u>

<u>Net Realizable Value                                                             750</u>

<u />

Cheers!

8 0
2 years ago
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