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exis [7]
3 years ago
6

Skysong Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at

a cost of $1,032,100. At December 31, 2020, the raw materials to be purchased have a market value of $984,100. In 2021, Skysong paid $1,032,100 to obtain the raw materials which were worth $984,100. Prepare the entry to record the purchase.
Business
1 answer:
k0ka [10]3 years ago
6 0

Answer:Skysong journal $

Date

December 2020

Raw material Dr 984,100

Loss on raw material 48,000

Supplier Cr 1,032,100

Narration. recognition of raw materials purchased at agreed value.

2021

Supplier Dr. 1,032,100

Bank Cr. 1,032,100

Narration. Payment for raw materials purchased at agreed value.

Explanation:

The raw materials needs to be paid for at the agreed value not withstand ing the fall in value. However stock are to be recognized at cost or net realisable value which ever is less and since the market value of the stock has dropped this has to be recognized as a loss in the income statement to avoid the stock been over value.

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Answer:

D.  Perception

Explanation:

In the work environment different perceptions coexist within the same group. The problem arises when these perspectives collide. There is a material or quantifiable conflict in those cases in which a person decides that they want to follow different solutions or goals to the rest.

This is a conflict of perception where two different stakeholders experience difference in responsibilities because of their perception.

Hope this helps!

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3 years ago
Who were some of the people aboard the titanic during its maiden voyage?
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Captain Edward J. Smith, Commodore White Star Line.
Mr. Fredrick Fleet (lookout).
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2 years ago
A student would like to buy a cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does n
professor190 [17]

Answer: one of the involved parties does not have the ability to satisfy its needs

Explanation:

The options to the question are:

becauseA. two or more parties have unsatisfied needs.B. there is no desire on the part of either party to satisfy its needs.C. one of the involved parties does not have the ability to satisfy its needs.D. there is no way for each party to communicate with one another.E.there has been no assessment of consumer wants and needs.

Marketing simply has to with the buying and selling of a certain product or service.

In the question, we are informed that a student would like to buy a cross-over SUV from a local dealer, but she thinks the payments will be too high.

In this situation, marketing does not occur in this situation because one of the involved parties does not have the ability to satisfy its needs. It càn be seen that the girl cannot afford it.

8 0
3 years ago
What is the best way to identify or praise children's actions or behavior?
Liono4ka [1.6K]

let it be known they did good or let them know they did wrong

6 0
3 years ago
The following information is provided for a company. Accounts payable $ 15,000 Buildings 80,000 Cash 10,500 Accounts receivable
stealth61 [152]

Answer:

$60,000

Explanation:

Given that,

Accounts payable = $15,000

Buildings = 80,000

Cash = 10,500

Accounts receivable = 9,500

Salaries payable = 4,500

Retained earnings = 47,500

Supplies = 40,000

Notes payable (due in 18 months) = 35,000

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= $10,500 + $9,500 + $40,000

= $60,000

Therefore, the amount of current assets is $60,000.

8 0
3 years ago
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