Answer:
2. $955,000
Explanation:
The computation of the amount to be reported for inventory in the consolidated balance sheet is shown below:
= Vader inventory value in the balance sheet + Sky-walker inventory value in the balance sheet
= $700,000 + $255,000
= $955,000
Since we have to report the inventory based on the consolidated balance sheet so we added both inventory value that would be presented on each balance sheet
Answer:
free market economy
Explanation:
in a free market economy business organisation determine what profitable goods and services to produce and the market determines the price to pay for such goods and services
If this is a true or false question, then the answer is definitely true.
This definition you wrote above does indeed refer to constructive receipt. It is used to determine whether a tax payer has received a gross income and whether and when he or she should pay their taxes, as well as to calculate how much they are supposed to pay.
Answer:
$960
Explanation:
For computing the accumulated depreciation, first we have to compute the depreciation expense which is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($9,600 - $0) ÷ (5 years)
= ($9,600) ÷ (5 years)
= $1,920
This is a full year depreciation but we have to find out for June 30,2017 i.e 6 months
= $1,920 ÷ 12 months × 6 months
= $960
The same is recorded as an accumulated depreciation