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sammy [17]
3 years ago
12

Consider the following statements regarding Company A and Company B:The two companies have identical operating results but have

made different accounting method choices.Company B reported lower COGS than Company A this year. Prices rose throughout the year.Both companies took a PP&E write downs in 2016. Company B reversed the write down and wrote the assets back up this year.Which of the two companies most likely reports under US GAAP?A. A onlyB. B onlyC. A and BD. Neither A nor B
Business
1 answer:
Natalija [7]3 years ago
7 0

Answer:

A. A only

Explanation:

U.S. Generally Accepted Accounting Principles (GAAP) does not allow property, plant, and equipment to be written up or revalued. If the fair value of PP&E falls below the book value and the amount is material then a company must write down the asset to fair value.

Since under US GAAP, once PPE is written, it can not be reversed. as Company B is indicated to have reversed the write down while company A did not. It therefore means that Company A only is reporting under US GAAP.

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brilliants [131]

What is a possible use for a genetic fingerprint is: i. to identify if someone was present at a crime scene.

<h3>What is  genetic fingerprint?</h3>

Genetic fingerprint can be defined as a fingerprint that help to detect the deoxyribonucleic acid (DNA)  traits or feature a person inherit.

Most crime investigator tend to make use of Genetic fingerprint when investigation a crime scene event so as to detect and identify the person who committed the crime through the use of genetic fingerprint they found in the crime scene.

Therefore What is a possible use for a genetic fingerprint is: i. to identify if someone was present at a crime scene.

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6 0
2 years ago
What kind of value chain can be described as purchases being made by the retailer from the manufacturer and then the retailer se
shepuryov [24]

Answer:

D. Manufacturer to wholesaler to consumer

Explanation:

I had the same quiz question and I chose that one. May not be correct though

7 0
2 years ago
The president believes that a $6,200 increase in the monthly advertising budget, combined with an intensified effort by the sale
nirvana33 [79]

<u>Solution and Explanation:</u>

calculating the increase in the net operating income is as follows:

S.no                    Particulars and explanation                    Amount

1.                    Sales ( $268000 + 84000 )                         352000

2. Contribution ( 1 multiply with 40 percent)                      140000

3. Fied expense ( $119200 plus $6200 )                         125400

4. Net operating income ( 2 step minus 3 step)                $14600

therefore, net operating income increased by $ 14600 plus $12000

Note: the sales were not given, so i have taken or assumed. Please change the figure if there is different figure of sales in the question given.

3 0
3 years ago
Vaughn Manufacturing began the year with retained earnings of $114000. During 2022, the company issued $84500 of common stock fo
aalyn [17]

Vaughn's net income for the year 2022 is: c. $88,000.

<h3>Net income</h3>

Using this formula

Net income=Revenues - expenses

Where:

Revenues=$735,000

Expenses=$647,000

Let plug in the formula

Net income=$735,000-$647,000

Net income=$88,000

Therefore the correct option is c.

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3 0
1 year ago
Common stock, par $12 per share, 49,000 shares outstanding. Preferred stock, 8 percent, par $17.5 per share, 7,710 shares outsta
Vlad [161]

Answer:

<h2>a. The Preferred stock is noncumulative.</h2>

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= 7,710 * 17.5 * 8%

= $‭10,794‬

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= 7,710 * 3 years (2017,2018,2019)

= $‭23,130‬

Per share = 23,130/7,710

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= $‭40,670‬

Per share

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= $0.83

c. Why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulative preferred stock?

b. The dividends in arrears on the preferred stock had to be fulfilled before dividends could be paid for the current year.

7 0
3 years ago
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