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3 years ago

The cost principle is the basis for entering the purchase price into the accounting records.a. Trueb. False

Business

1 answer:

faltersainse [42]3 years ago

6 0

Answer:

The correct answer is letter "A": True.

Explanation:

The cost principle or historical cost establishes that an asset must be recorded at its face value at the moment when the asset is acquired. That cost is recognized as the value of the asset unless there is reasonable proof to state the opposite. Under this principle, any organization can register in its books an asset that has not been part of a transaction yet.

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Helmers Corporation manufactures a single product. Variable costing net operating income last year was $74,000 and this year was

gogolik [260]

Answer:

$46,400

Explanation:

The computation of the absorption costing net operating income last year is shown below:

= Net operating income under variable costing + Fixed overhead deferred in ending inventory - Fixed overhead released in beginning inventory

= $74,000 + $0 - $27,600

= $46,400

All other information which is given in the question is not relevant. Hence, ignored it

4 0

3 years ago

Josh purchased 100 shares of XOM for $76.63 per share at the beginning of 2007. He received dividends per share of $1.37 (2007),

never [62]

Answer:

The IRR is 4.08%

Explanation:

In calculating the internal rate of return in excel,the cash outflow of $76.63 is shown in year 0 with a negative sign to indicate that it is the initial investment on the share, followed by dividends in received in later years shown as positive figures ,however in the fifth the dividend received and the cash received from disposing of the share were added together to show total cash inflow in the last year.

The computation of IRR is shown below

IRR for the share purchase

Years Cash flow

0 -76.63

1 1.37

2 1.55

3 1.66

4 1.74

5 86.61

IRR 4.08%

Find attached for detailed computation.

Download xlsx

4 0

3 years ago

A buyer made an earnest money offer to purchase property, and the broker placed the funds in his trust account. After the seller

Alex17521 [72]

Answer: Interpleader

Explanation:

The broker just engaged in an Interpleader action which is an action that allows a person who does not own a certain property to get the claimants to the property to go to court for it. The Court will then decide who should get the property after proceedings.

The Broker does not own the deposit but seeing as he did not want to get into trouble with either the Seller or the Buyer, he put the deposit with the courts so that they would decide who owns the deposit.

7 0

2 years ago

If you deposited $100 now (nequals0)and $200 two years from now (nequals2)in a savings account that pays 10% annual inte

Natali5045456 [20]

Answer:

The correct answer is: "You would have $589 the end of year 10".

Explanation:

The logics of the statement remains in the amount of money remained after 10 years of savings with a 10% annual interest. This means that, after you deposit $100 now (nº 0), on the first current year you would have ended up with $110, although in the second year (nº 2) you would have made a deposit of $200, which means you would have made total earnings of $310, plus the annual interest of $31. After the second year, all subsequent ones wound count on with an annual interest of $31, which means that at end of year 10 you would have reached the amount of $589.

(ps: mark as brainliest, please?!)

7 0

3 years ago

Which of the following circumstances usually comes before a period of economic contraction?

erik [133]

C
A low GDP for two or more consecutive quarters is usually followed by economic contraction.

8 0

3 years ago