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3 years ago

Development of the Eurocurrency Market A Eurocurrency is any currency that is banked outside of its country of origin.

Business

1 answer:

aleksandr82 [10.1K]3 years ago

4 0

Answer:

A Eurocurrency is any currency that is banked outside of its country of origin.

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Lunker Lures makes ten different models of fishing lures. All ten models are completely crafted by hand using the same basic mat

maria [59]

The type of overhead costing system that would be the best fit for Lunker is: Traditional costing system using design hours as the basis for allocation.

<h3>What is the Traditional Costing System?</h3>

The traditional costing system is a method applied in accounting that aims at determining the cost of production. One driver is assigned as the basis of allocation.

In the case of Lunker Lures above, the driver that is used as the basis of allocation should be design hours.

Learn more about the Traditional Costing System here:

brainly.com/question/24516871

8 0

2 years ago

Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this

Ipatiy [6.2K]

Answer:

a. $32,039

b. $19,439

c. -$12,961

d. $9,639

Explanation:

We will use accounting equation to solve the above question.

Assets = Liabilities + Equity

Also;

Net income will be the difference in equity plus dividends minus contributions

= [Ending equity - Beginning equity ] + Dividends

Since the beginning and ending equity is the same for all the years, then we'll have

$71,500 = $30,652 + Equity

Equity = $40,848

Ending equity = $122,500 - $49,613

= $72,887

a. Income : $72,887 - $40,848 + 0 - 0

= $32,039

b. $72,887 - $40,848 + $1,050 × 12 - 0

= $19,439

c. $72,887 - $40,848 + 0 - $45,000

= -12,961

d. $72,887 - $40,848 + $1,050 × 12 - $35,000

= $32,039 + $12,600 - $35,000

= $9,639

6 0

3 years ago

If a store adds 50 chairs to its current inventory, the total number of chairs will be the same as three-halves the current inve

max2010maxim [7]

To answer this item, we let x be the current number of chairs. After adding 50 chairs to the current inventory, the total number of chairs would then be equal to x + 50. The equation that would allow us to determine the value of x is written below.

x + 50 = (3/2)(x)

Simplifying the equation,
x + 50 = 3x/2
x - 3x/2 = -50
-x/2 = -50

Dividing both sides of the equation by -1/2, the value of x is equal to 100.

To increase the inventory by 40%, the equation would be,
y = x(1.4) = 1.4(100) = 140

<em>ANSWER: 140 chairs</em>

8 0

3 years ago

The understatement of the ending inventory balance causes:

Nina [5.8K]

Answer: The correct answer is "E. Cost of goods sold to be overstated and net income to be understated.".

Explanation: The understatement of the ending inventory balance causes:

<u>Cost of goods sold to be overstated and net income to be understated.</u>

8 0

3 years ago

Jamison Company has the following obligations at December 31: For each obligation, indicate whether it should be classified as a

Rashid [163]

Answer:

Explanation:

The current liability is that liability in which the obligation is arise for one year or less than one year.

So, the categorization is shown below:

a. A note payable for $100,000 due in 2 years. = It is not a current liability as it is due in 2 years that come under the long term liability

b. A 10-year mortgage payable of $300,000 payable in ten $30,000 annual payments. = Current liability for first annual payment only and rest is consider to be long term liability

c. Interest payable of $15,000 on the mortgage. = Current liability as it is arise within one year

d. Accounts payable of $60,000. = Current liability as it is arise within one year

The current liability is shown on the liabilities side of the balance sheet.

7 0

3 years ago