A belief that something will be the case or will happen is known as:

Windsor Company took a physical inventory on December 31 and determined that goods costing $191,500 were on hand. Not included i

WINSTONCH [101]

Answer:

$237,630

Explanation:

Windsor report as its December 31 inventory:

= Inventory in hand as per physical count + Goods purchased from P corporation under FOB shipping basis + Cost of goods sold to A company under FOB destination basis

= $191,500 + $24,510 + $21,620

= $237,630

Therefore, the amount to be reported by Windsor company is $237,630.

7 0

3 years ago

Multiple Select Question Select all that apply Which of the following are facility-level activities? Human resource hiring fairs

Olenka [21]

The full question is:

Which of the following are facility-level activities? (select all that apply)

a. Paying factory insurance

b. Setting up factory equipment

c. Arranging for shipping products to a customer

d. Property taxes on plant

Answer:

Paying factory insurance

Property taxes on plant

Explanation:

Facility level activities are defined as those activities that cannot be traced to a particular product, but are carried out to maintain the general operations of a business. They are also called business sustaining activities.

Examples include depreciation, cost of security, cost of maintenance and taxes.

These activities need to be executed seamlessly by the business if they want to maintain efficiency of the production process. For example if machines are not maintained according to maintenance schedule, they can breakdown and cause delays in production.

7 0

3 years ago

Read 2 more answers

Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level

leva [86]

Answer:

$1,667

Explanation:

Given that,

Savings account at the beginning of the year = $2,000

Price level at the beginning of the year = 100

Price level at the end of the year = 120

Price level increases from 100 to 120

Therefore, what was worth $120 earlier, is not worth only $100.

Hence, $120 at the beginning of the year is worth = $100 at the end of the year

$1 at the beginning of the year is worth = ($100 ÷ $120) at the end of the year

Savings of $2,000 at the beginning of the year is worth:

= ($100 ÷ $120) × $2,000

= 0.833 × $2,000

= $1,667

Therefore, the real value of the savings is $1,667.

5 0

3 years ago

Perdue Company purchased equipment on April 1, 2014, for $270,000. The equipment was expected to have a useful life of three yea

otez555 [7]

Answer:

Straight line:

2014 $ 65,250

2015 $ 87,000

2016 $ 87,000

2017 $ 21,750

units-of-output method:

2014 $ 108,750

2015 $ 79,750

2016 $ 58,000

2017 $ 14,500

dobule declining method

2014 135,000

2015 45,000

2016 15,000

2017 9,000

Explanation:

Straight line:

(cost - salvage value) / useful life

(270,000 - 9,000)/3 = 87,000 per complete year

First year: from April 1st to December 31th

87,000 x 9/12 = 65,250

Second and third year are complete year thus, 87,000

fourth year: from Jan 1st to March 31th:

87,000 x 3/12 = 21,750

units-of-output method:

(cost - salvage value) / unit of output

261,000 / 18,000 = 14.5 per hour

We multiply each year hours by this rate

7,500 x 14.5 = 108,750

5,500x 14.5 = 79,750

4,000x 14.5 = 58,000

1,000 x 14.5 = 14,500

double declining

we multiply by twice the rate of of straight line:

1/3 x 2 = 2/3 we depreciate this amount of the carrying vbalue per year

Last year we adjust to obtain the residual value

Year Beginning Rate Dep expense Carrying value

2014 270,000 0.50 135,000 135,000

2015 135,000 0.67 90,000 45,000

2016 45,000 0.67 30,000 15,000

2017 15,000 6,000 9,000

5 0

2 years ago

When a company is using double-entry accounting, what elements of a given ledger must be equal?

VLD [36.1K]

When a company is using double-entry accounting, the elements of a given ledger that must be equal are the debit and the credit. They should reflect the balance of the books. There should be an equal amount in the debit column and in the credit column.

5 0

3 years ago