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3 years ago

When the concept of conservation is applied to the balance sheet, it results in (

1 answer:

6 0

I think the correct answer from the choices listed above is option B. When the concept of conservation is applied to the balance sheet, it results in understatement of capital. Hope this answers the question. Have a nice day. Feel free to ask more questions.

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g Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding

FromTheMoon [43]

Answer:

Total equivalent unit of material = 140,000 units

Explanation:

Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work.

Under the first in first method , to account for completed units during a production period the opening inventory units are assumed to completed first before newly the newly introduced units.

So we can work out the equivalents units as follows:

Fully worked units :These represent units started this period of production and completed in the same period. This is given as 110,000 units

Equivalent units (EU)

Item unit Workings EU

Opening inventory 25,000 0% × 25,000 = 0

Fully worked 110,000 100% × 110,000 = 110,000

Closing inventory 30,000 100%× 30,000 = 30,000

Total equivalent unit of material 140,000

Note that for the opening inventory already 100% material work has been done the preceding period , so there wont be any work left to be done in respect of materials.

5 0

3 years ago

According to the United Nations' stages of economic development for classifying countries with respect to levels of industrializ

andrezito [222]

Answer:

More-deceloped country

Explanation:

Industrialized countries with high per capita incomes, such as Canada, England, France, Germany, Japan, and the United States fall into the category of more-developed country

4 0

3 years ago

You have a loan outstanding. It requires making three annual payments at the end of the next three years of $1000 each. Your ban

Shalnov [3]

Answer:

$2722.82

Explanation:

Present value of loan = $1,000 * [(1+5%)^3 - 1]/ 5%

= $1,000 * (1.157625 - 1) / 0.05

= $1,000 * 0.157625/ 0.05

= $1,000 * 3.1525

= $3152.50

The present value of loan before bank restructuring is $3152.

Future value = Cash flow / (1+r)^n

= $3152 / (1+0.05)^3

= $3152 / (1.05)^3

= $3152 / 1.157625

= $2722.82

Therefore, the final payment required to pay to make indifferent for both payment is $2722.82

6 0

3 years ago

The existence of ending Work In Process Inventory necessitates the use of the 5minusstep process costing procedure. true or fals

tensa zangetsu [6.8K]

Answer:

The statement is: True.

Explanation:

The Work In Progress (WIP) Inventory represents the sources needed during the production of a good. While calculating costs for those sources it is necessary to follow the 5-steps of process costing which are the following:

1) Determine the flow of units generated.

2) Adjust the inventory to calculate the equivalent units.

3) Identify the total cost.

4) Calculate the average cost per equivalent unit.

5) Record these costs to finished units and Work in Process units.

8 0

3 years ago

Assume that you work in the Planning Department of the Century National Bank and report to Ms. Lamberg. You will need to do some

Oksana_A [137]

Hi how you doing I tried to do it but I couldn’t

7 0

3 years ago