Answer:
The number of quarters is 47 and the number of nickels is 49.
Explanation:
Let the number of quarters be x and the number of nickels be y.
Kevin and Randy Muise have a jar containing 96 coins, all of which are either quarters or nickels.
.... (1)
1 quarters = 0.25 dollars
1 nickels = 0.05 dollars
The total value of the coins in the jar is $14.20.
.... (2)
From (1) and (2), we get
Put this value in equation (1).
The value of x is 47 and the value of y is 49. Therefore the number of quarters is 47 and the number of nickels is 49.
Answer:
a. Calculate the balance in retained earnings at the time of the change (beginning of 2017) as it would have been reported had FIFO been previously used.
b. Prepare the journal entry to record the change in accounting principle at the beginning of 2017.
- Dr Inventory 80,000
- Cr Income taxes payable 16,800
- Cr Retained earnings 63,200
Explanation:
inventory under FIFO would have been $80,000 higher, that means that COGS were overstated by $80,000 and net earnings were understated by $80,000.
retained earnings 2016 = $1,750,000
tax rate 21%
Dr Inventory 80,000
Income taxes payable 16,800
Retained earnings 63,200
Retained earnings = $1,750,000 + $63,200 = $1,813,200
When companies change from LIFO to FIFO, they must adjust their income statement and balance sheet in a prospective way because it will affect the future value of their accounts. But when a company changes from FIFO to LIFO, no adjustment is required.
The Design quality that a firm goes with is considered to be a<u> strategic decision. </u>
<h3>What kind of decision is Design quality?</h3><h3 />
The quality of the design that a company goes with to brand their goods and services will represent what the company hopes to achieve in the future.
This means that the decision is a strategic one as these are done to showcase the future goals and direction of a company.
Find out more on strategic decisions at brainly.com/question/7139810.
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Answer:
All options apply
Explanation:
The government engages in economic activities as a regular and a provider of public goods and services. Public goods and services refer to products available for consumption by all members of society. They are offered by the government and financed through taxes. Public goods and services are offered for free or at a small fee.
Consumption of public goods do not deplete the quantity available for others to consumes. Examples of public goods and services include education, medical care, roads, bridges, policing, national security, and international relations.