Auditors consider fi nancial statement assertions to identify appropriate audit procedures. For

The Daily Grind sells coffee makers. Its inventory of coffee makers without timers cost $20,000 and has a net realizable value o

torisob [31]

Answer:

The answer is: $45,000

Explanation:

The total merchandise inventory should include both the coffee makers with timers and without timers, but they should be recorded at their fair market value.

total merchandise inventory = coffee makers with timer + coffee maker without timer

total merchandise inventory = $35,000 + $10,000 = $45,000

6 0

3 years ago

Willow Creek Nursery, with an authorization of 72,000 shares of preferred stock and 210,000 shares of common stock, completed se

GaryK [48]

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $4,000,500

To Common stock $2,540,000

To Paid-In Capital in Excess of Par-Common Stock $1,460,500

(Being issuance of the common stock is recorded)

2. Land A/c Dr $860,000

Building A/c Dr $2,533,000

To Preferred Stock $2,925,000

To Paid-In Capital in Excess of Par-Preferred Stock $468,000

(Being issuance of the preferred stock is recorded)

All other information which is given is not relevant. Hence, ignored it

8 0

3 years ago

Costs that can be traced are considered to be:

PSYCHO15rus [73]

Not sure bud, but I think it's transactions.

5 0

4 years ago

The economy begins in equilibrium at point E, representing the real interest rate r 1 at which saving S 1 equals desired investm

andreyandreev [35.5K]

Answer:

hello below is the missing diagram needed for the question

answer : point B

Explanation:

when there is a technological innovation that increases the demand for investment and goods the real interest rate,savings and investment will take a positive outlook i.e take a shift to the right , this is due to the increase in investment and a corresponding increase in demand by consumers

Technological innovation are very vital for the expansion of production by companies and firms who provide either goods or services

4 0

3 years ago

The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Hasbro, Inc., a leadi

vichka [17]

Answer:

Hasbro, Inc.

Balance Sheet

Assets

Current Assets:

Cash and cash equivalents $893

Accounts receivable 1,111

Allowance for doubtful accounts (16) 1,095

Inventories 340

Prepaid expenses and

other current assets 392

Total current assets $2,720

Property, Plant, and Equipment (net):

Buildings and improvements $ 234

Land and improvements 7

Machinery, equipment, and software 504

Other noncurrent assets 658

Accumulated depreciation (509)

Property, Plant, and Equipment (net) $894

Other Assets:

Goodwill $ 593

Other intangibles 1,123

Accumulated amortization

(other intangibles) 798 325

Other assets $918

Total assets $4,532

Explanation:

a) Data and Calculations:

Current Assets:

Cash and cash equivalents $893

Accounts receivable 1,111

Allowance for doubtful accounts (16) 1,095

Inventories 340

Prepaid expenses and

other current assets 392

Total current assets $2,720

Property, Plant, and Equipment (net):

Buildings and improvements $ 234

Land and improvements 7

Machinery, equipment, and software 504

Other noncurrent assets 658

Accumulated depreciation (509)

Property, Plant, and Equipment (net) $894

Other Assets:

Goodwill $ 593

Other intangibles 1,123

Accumulated amortization

(other intangibles) 798 325

Other assets $918

8 0

3 years ago