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Julli [10]
2 years ago
6

Riverbed Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,280, Land $49

,100, Patents $16,600, Accounts Receivable $91,620, Prepaid Insurance $5,330, Inventory $34,100, Allowance for Doubtful Accounts $4,730, and Equity Investments (to be sold in the next quarter) $12,540. Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)

Business
1 answer:
Rzqust [24]2 years ago
5 0

Answer:

Explanation:

Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

The debit and credit side of the balance sheet should always be equal and balanced.  

Moreover, it always is prepared on the specified date.

The land is a fixed asset and patents is an intangible asset. Thus these items would not come in the current asset section

The preparation of the current assets section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:

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Answer:

a. Physical appearance

Explanation:

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Life experiences as well forms a key part of our belief system and the same goes for personality.

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Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest c
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Answer:

Allocated costs= $116.7

Explanation:

Giving the following formula:

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<u>To allocated costs, we need to use the following formula:</u>

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5 0
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What’s the purpose of a ramp meter
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Pete's Market is a small local grocery store with only one checkout counter. Assume that shoppers arrive at the checkout lane ac
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Answer:

How did Carter plan to achieve his goals regarding the hostages?

Check all of the boxes that apply.

Convince Iran that the real danger was the Soviet Union, not the United States.

Team up with Iraq to invade Iran.

Get help from other countries to express disapproval of Iran’s actions.

Send many troops in to free the hostages at any cost.

Explanation:

How did Carter plan to achieve his goals regarding the hostages?

Check all of the boxes that apply.

Convince Iran that the real danger was the Soviet Union, not the United States.

Team up with Iraq to invade Iran.

Get help from other countries to express disapproval of Iran’s actions.

Send many troops in to free the hostages at any cost.

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2 years ago
Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purc
svetoff [14.1K]

Answer:

Fifo Inventory $665

Moving Average= $ 606

Lifo Inventory $ 592

Explanation:

Purchases                

Date                 Units               Unit Cost             Sales Units     Fifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $122                                             $488</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

<u>                             5                             $ 133                                         </u><u> $665</u>

<u />

Moving Average Method

=   Total Cost of Purchases/ No of items= 13*115 + 6*122+ 7*132/13+6+7

 = 1495+ 732+ 924/26= 3151/26= 121. 192

No of units in the Ending Inventory= 5 * 121.192= $ 605.96

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Date                 Units               Unit Cost             Sales Units    Lifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $115                                             $460</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

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<u>                             4                            $ 115                                          $460</u>

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