1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fudgin [204]
3 years ago
10

The Bridal Gift Shop Company has 12 units in ending merchandise inventory on December 31. The units were purchased in November f

orâ $150 each. The price lists from suppliers indicate the current replacement cost of the item to beâ $152 each. What would be the amount reported as Merchandise Inventory on the balanceâ sheet?
Business
1 answer:
LUCKY_DIMON [66]3 years ago
7 0

Answer:

$1,800

Explanation:

According to the accounting principle, the inventory should be valued at lower of cost or net realizable value. The calculation is shown below:

Based on acquisition cost

12 units × $150 = $1,800

Ending inventory = $1,800

Based on current replacement cost

12 units × $152 = $1,824

Ending inventory = $1,824

As we see that the lower cost would be $1,800. So, $1,800 would be reported to the ending inventory

You might be interested in
Sun Technologies, a cell phone manufacturing company, decided to change the operating system of its phones to eliminate the prob
larisa86 [58]

Answer:

Unfreezing

Explanation:

There are three phases of organizational change. Sun Technologies can be said to be at its unfreezing stage.

The organization must properly communicate with its employees and consumers at each level of changes they are.

  • At the unfreezing stage, the goal is to change the mindset and belief of the consumers about a particular process being deployed.
  • Since the adoption of the new technology is being advertised as one that will make things better, we can see elements of unfreezing here.
  • Other stages are the actual change phase and freezing stage
8 0
3 years ago
When the indirect method is used, if accounts receivable increases during the accounting period, the change in accounts receivab
liberstina [14]
The answer is that "<span>the change in accounts receivable is subtracted from net income".
</span>

<span>When the indirect method is used, the starting point is the net income and it is transformed to cash flows from operational actions by adding back losses and subtracting gains so that these quantities are removed.</span>

4 0
3 years ago
A sales firm regularly enrolls some of its employees in a six-month marketing course with a leading university. At the end of th
Firlakuza [10]

Answer:

Externship

Explanation:

Externship refers to an agreement between the employer and university wherein the university imparts skills required by the employer from employees which relate to a particular job designation.

Externship enables the employees to gain a short term practical knowledge which is related to their job position. Externship, unlike internship is for a shorter duration and during such a course the volunteered employees supervise the learning process of the externs.

Such a concept is also referred to as Job shadowing.

7 0
3 years ago
What industry cannot rely on estimation
jeka94

There is no industry which can not relay on estimation, all industries needs estimation.

The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.

Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.

Learn more about estimation here

brainly.com/question/107747

#SPJ4

7 0
2 years ago
Provide a comprehensive discussion of information asymmetry in financial intermediation.
Zigmanuir [339]

The introduction of intermediaries helps in minimizing the asymmetric information gap by becoming experts.

<h3>What is information asymmetry?</h3>

Information Asymmetry deals with the study of decisions in transactions where one party has more or better information.

The financial intermediary establishes trust by providing a form of guarantee of investment performance to the buyer of securities and a fair price to the sellers of securities.

Learn more about Information asymmetry here:

brainly.com/question/14121291

#SPJ1

3 0
2 years ago
Other questions:
  • Tracy's is a chain of hair dressing salons for women. they use television, magazines, radio, and newspapers to advertise their s
    9·1 answer
  • What is MVP and what does it mean?
    7·1 answer
  • What is the factorization of the trinomial below?
    10·1 answer
  • All of the following are measures of GDP except the total: a. income from all production in the economy. b. expenditures on all
    6·1 answer
  • Why do you think the feudal system disappeared over the course of time? Best answer will be mark braniest
    12·1 answer
  • Which of the following statements is correct? A. The Federal funds rate is the rate banks charge their most creditworthy custome
    12·1 answer
  • An llc is formed when a general partnership files a statement of qualification with the appropriate state official. true or Fals
    13·2 answers
  • One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to b
    15·1 answer
  • ANYONE DOWN TO VIBE WITH MW ON SNAP ILL ADD BACK!!!!
    12·2 answers
  • Which discipline studies the decision-making process of customers, workers, households, and business firms on an individual basi
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!