The purpose of concept-mapping is to

A company's current inventory consists of 5,000 units purchased at $6 per unit. Replacement cost has now fallen to $5 per unit.

Masja [62]

Answer:

Inventory write off = $5,000 Debit

Inventory = $5,000 Credit

Explanation:

given data

current inventory = 5,000 units

purchased = $6 per unit

Replacement cost = $5 per unit

solution

As here we know replacement cost fallen to $5 per unit which is lower than the cost of $6

so that amount realized from the sale of a unit is $5 so

so total adjustment required is

total adjustment required = ( $6 - $5 ) × 5000

total adjustment required = $5,000

so that

Entry required to write down inventory to its realizable value as

Inventory write off = $5,000 Debit

Inventory = $5,000 Credit

8 0

3 years ago

In a recent survey of your major customers, you were disappointed to find that a majority of customers rated your company poorly

garik1379 [7]

The correct answer to this question is letter C.

4 0

3 years ago

A(n) ________ is someone who takes the risk of creating, organizing and operating a business, usually to satisfy a need in the m

Anarel [89]

Answer:

entrepreneur

Explanation:

Hope this helps!!!

6 0

3 years ago

Variable costs change depending on a company's performance.<br><br> A) False<br><br> B) True

andrew11 [14]

Answer:

B - True

Explanation:

No matter how much a company sells or does not sell, it has to pay fixed costs. Variable costs change depending on a company's performance.

3 0

3 years ago

Read 2 more answers

Penguin Island produces two goods: ice and genetically engineered fish. Due to recent technological advances, its economy has ex

Vadim26 [7]

Answer:

1. Point on x-axis will increase and so will the point on the y-axis

2. All of the above

Explanation:

1. The Production Possibilities Frontier shows the amount of resources needed to produce different quantities of two goods. It therefore allows one to see the trade-off in resources for producing more of one good vs the other.

When a factor of production leads to more efficiency in the production of a good, the frontier will increase. In this scenario, there has been a growth in technology which means that more of both goods can be produced. This will increase the PPF on both axis. (Refer to attached file).

2. All of the listed options have led to increases in the standard of living in the last century. More education means people can get better jobs and build more infrastructure. International trade has increased market access and increased wealth. Farm productivity is better so more people can be fed and improvement in technology is the main driver for growth.

4 0

3 years ago