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Masja [62]
3 years ago
11

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31,

2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.
Business
1 answer:
Soloha48 [4]3 years ago
3 0

Answer:

Answer for the question:

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.

is given in the attachment.

Explanation:

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During a period of economic expansion, when expected profitability is high, the: select one: a. Equilibrium price of bonds incre
spin [16.1K]

During a period of economic expansion, the demand curve for bonds shifts to the left.

<h3>What is the effect of an economic expansion?</h3>

During an economic expansion, the supply of money in the economy rises and the demand for money also increases. This leads to an increase in the interest rate and the price of the bonds would fall.

If expected profitability is expected to be high, people would prefer to hold more risky investment. Thus, there would be a fall in the demand for bonds. The demand curve for bonds would shift to the left.

Here are the options to this question:

A) the demand curve for bonds shifts to the left.

B) the supply curve of bonds shifts to the right.

C) the equilibrium interest rate falls.

D) the equilibrium price of bonds rises.

To learn more about economic expansion, please check: brainly.com/question/831569

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4 0
2 years ago
Jetson Spacecraft Corp. shows the following information on its 2015 income statement: sales = $316,547; costs = $219,406; other
o-na [289]

Answer:

Net working capital addition was for 8,108 dollars

Explanation:

To solve for NWC we start form the accounting equation and then, we expand it to get the NWC expression:

Assets = Liabilies + Equity

we expend the formula

current assets + fixed assets = current liabliies + non-currnet liab + stock + RE

NWC = net working capital

being: current assets - current liabilities

(current assets - current liabilities) =  non-currnet liab + stock + RE - fixed assets

NWC = -3,283 + 5,629 + RE - 24,154

We need to solve fotr the change in Retained Earnings:

which is net income - dividends:

sales                                316,547

costs                              (219,406)

other expenses                 (8,481)

depreciation expense    (18,633)

interest expense             (14,216)

taxes                                 (15,217)

                 net income      40,594

                dividends         (10,678)

          change in RE           29,916

NWC = -3,283 + 5,629 + 29,916 - 24,154

NWC = 8,108

8 0
3 years ago
What does compounding interest mean??
ivolga24 [154]
Compounding interest is interest on top of interest.

For example, say you put 100 bucks in the bank.
You get 10% interest compounded daily on that 100 bucks.

That means that you get 10% interest not only on those 100 bucks, but all the money you make after.

So your interest would go from 10% on 100 bucks, to 10% on 110 bucks and so forth.

I hope this helps and please press that ❤ under my reply, it really helps!
7 0
3 years ago
Santana Company exchanged equipment used in its manufacturing operations plus $2,000 in cash for similar equipment used in the o
Ede4ka [16]

Solution :

We know that the exchange takes place when the FMV receive is equal to the FMV given up.

Where the FMV = fair market value

The commercial substance means the future cash flows exchange.

The non monetary exchange refers to the cash which is less than 25% of the fair value exchange.

The journal entries for the Santana Corp. when the exchange lack the commercial substance are reported as :

Transaction                                           Debit ($)                 Credit ($)

Asset(new)                                           11,000

Accumulated depreciation(old)          9,000

Asset (old)                                                                       28,000

Cash                                                                                 2000

The journal entries for Delaware Corp. when the exchange lacks the commercial substance.

Transaction                                           Debit ($)                 Credit ($)

Asset(new)                                            16,000  

Accumulated depreciation (old)          10,000

Loss                                                                                      2500

Assets (old)                                                                           28,000                                  

7 0
2 years ago
Jordon and Heidi share income equally. For the current year, the partnership net income is $40,000. Jordon made withdrawals of $
aleksley [76]

Answer:

a.$46,000

Explanation:

A partner ship account records the transactions related to partnership. All transaction of withdrawal, Profit allocation etc. are recorded to determine the closing balance of each partner.

Ending Capital Balance = Beginning Capital balance + Income allocation for the year - withdrawals

Jordon's Ending Capital Balance = $40,000 + ( $40,000 x 0.5 ) - $14,000

Jordon's Ending Capital Balance = $40,000 + $20,000 - $14,000

Jordon's Ending Capital Balance = $46,000

3 0
3 years ago
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