Answer:
D. $490,000
Explanation:
The inventory was valued at first-in, first-out (FIFO) costs and totaled $500,000.
<em>Adjustments:</em>
The goods worth $10,000 (1,000 units x $10 cost) were shipped and billed to a customer meaning that company has already recorded the sales in its income statement therefore they became the property of the customer and should not have been included in the inventory count. The $10,000 should be removed from the inventory recorded bringing the inventory balance at $490,000 ($500,000 - $10,000).
The goods worth $30,000 (6,000 units x $5 cost) will not be included in the total inventory count because the inventory is held on consignment for one of the company's supplier and the ownership of the goods belongs to the consignor (in this case, the supplier) until they are sold. The goods appear in the inventory records of the consignor (in this case, supplier) not the consignee (in this case, the company). In this case, the company has not included the goods in its inventory cost therefore no adjustment is necessary.
Answer:
$17,214 and $54,606
Explanation:
The computation is shown below:
For 4% inflation free risk rate, the dollar amount would be for 0 year
= Deposit×(1+interest rate^-number of years)
= $31,000×(1+0.04^-15)
= $17,214
For 8% market interest rate, the dollar amount would be for 15 year
= Dollar amount computed ×(1+interest rate^number of years)
= $17,214×(1+0.08^15)
= $54,606
Answer:
Break-even point= 3429 units
Explanation:
Giving the following information:
Total Units for information given 7,000.
Fixed Cost per Unit $150
Selling Price per Unit $ 475
Variable Costs per Unit $125
Target Operating Income $ 150,000
Break-even point= fixed costs/ contribution margin
Break-even point= (150*7000 + 150,000) / (475 - 125)= 3429 units
Answer:
The terms to be included are regarding the provision relating to the resolution of any dispute.
Explanation:
As the question is missing the options, the options are found online and are given as below
a. an updated list of the music available through the service.
b. a detailed history of the music business.
c. a provision relating to the resolution of any dispute.
d. positive reviews from users of the service.
Out of these four options
Option A is incorrect as it is not something to be included in the terms and contracts because this list will be changing continuously.
Option B is incorrect as it is not something to be included in the terms and contracts because it is not relevant.
Option C is correct as it is provides valuable information for resolution of disputes.
Option D is incorrect as the reviews from the users will keep on changing and updating.
<span>(B) W-2 form from her employer, tax forms from the bank, and a tax return form.</span>
