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
kap26 [50]
3 years ago
5

When a company uses LIFO for external reporting purposes and FIFO for internal reporting purposes, an Allowance to Reduce Invent

ory to LIFO account is used. This account should be reported: on the income statement in the Other Expenses and Losses section. on the balance sheet in the Current Assets section. on the income statement in the Cost of Goods Sold section. on the income statement in the Other Revenues and Gains section.
Business
1 answer:
zalisa [80]3 years ago
4 0

Answer:

<em>This account should be reported on the balance sheet in the Current Assets section.</em>

Explanation:

Current assets are situated at the start of the balance sheet assets section. This portion of the balance sheet includes some short-term assets that are easiest to turn into cash.

Depending on its comparative ability to generate into money (called the liquidity order), every one of the current asset line items is placed on the balance sheet.

You might be interested in
The government sector get its income mostly from exports to other countries.
Dmitriy789 [7]

Answer:

Explanation:

false

6 0
3 years ago
The area of a patio is 5 5/8 square yards and its length is 1 1/2 yards. What is the patios width in yards?
Angelina_Jolie [31]
The formula to find the area of a rectangle is
Area=length*width
( area equals length times width)

So you substitute the values in the problem into the equation above.
5 5/8=1 1/2* w

Then you can solve the equation by dividing the 5 5/8 by the 1 1/2, cancelling out 1 1/2 and leaving the w by itself on one half of the equal sign
You are left with
3 3/4 = w

The width of the patio in yards is 3 3/4.
(Just ask if you have more questions or I didn't explain something clearly)
8 0
2 years ago
Read 2 more answers
Your retirement account has a current balance of $50,000. You plan to add $6,000 a year to the account for each of the next 30 y
enot [183]

Answer:

21.45%

Explanation:

Remaining amount to have $1,000,000 = $1,000,000 - $50,000 = $950,000

Using the interest rate function RATE(nper,pmt,pv,fv) in the excel, we obtain an interest rate of 21.45%

Where,

nper = number of period = 30

pmt = annual payment

pv = present value which has a default value of 0.

fv = future value = $950,000

Note: Find attached the excel sheet to see result.

Download xlsx
4 0
3 years ago
Samuel slips on an icy spot in front of an apartment and is hospitalized for three weeks. The owner of the apartment pays Samuel
andrey2020 [161]

Answer:

B) $1,800.

Explanation:

$14,000 in medical expenses are not part of Samuel's gross income.

$7,000 in disability payments are not included in Samuel's gross income because he paid the premiums.

$4,000 in pain and suffering compensation are not part of your gross income.

The only payments that are part of Samuel's gross income and therefore are taxed, are his regular monthly salary payments = $1,800. If Samuel's disability insurance premium had been paid by his employer, then the $7,000 would have been taxable.

8 0
3 years ago
Danny mentions that he is only in business if his employees are happy to come to work. Based on mcgregor’s work, danny would hav
chubhunter [2.5K]

Answer:

<em>O</em><em>ptimistic</em><em> </em><em>view.</em><em>.</em><em>.</em><em>.</em><em>.</em><em>.</em>

3 0
2 years ago
Other questions:
  • The PTA is holding a raffle. The prize is a camera worth $200. Each raffle ticket costs $5. One hundred tickets are sold and a w
    8·2 answers
  • Your company has total wages of $321,000. Your revenue is $976,000. You have just read an industry journal that suggests that wa
    11·1 answer
  • Sadler Corporation purchased equipment to be used in manufacturing. The purchase was made at the beginning of 2015 by paying cas
    15·1 answer
  • Organizational and managerial skills that find their expression in a company's structure, routines, and culture are referred to
    12·2 answers
  • In a financial sector, we use ______ to construct financial instruments such as derivatives.
    8·1 answer
  • Which of the following is a risk of investing in a privately held company, instead of a publicly held company?
    8·2 answers
  • Understanding the legal ramifications what types of policies should organizations implement when using social media tools for re
    12·1 answer
  • Required-: JOURNAL ENTRY (ACCOUNT)
    14·1 answer
  • There are three clues labeled "daily double" on the game show Jeopardy. If three equally matched contenders play, what is the pr
    5·1 answer
  • while the washington family was gone for the weekend, their home was broken into and robbed. manny, a professional boxer who liv
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!