The answer is Technical
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Answer:
<u>Retained earnings under the Balance sheet</u>
Explanation:
Making comparisons between the two inventory value when using FIFO or Average cost method=
63.0M - 47.1M = $15.9M
We see an <em>increase</em> in the ending inventory.
Thus, this increase in income has been unprecedented, and may not have been distributed to the shareholders of Adonis Industries. On the balance sheet journal entry this extra income would be indicted on the balance sheet on the retained earnings column for year 2021.
Answer:
B and C
Explanation:
The correct statements about the factor-price equalization and the effects of transportation costs are:
- Free trade, in the absence of transportation costs or other barriers to trade, tends to equalize product prices and factor prices.
- Transportation costs prevent product prices from equalizing.
