The Long-Run Aggregate Supply curve represents the full employment capacity of the economy and depends on the amount of resources available for production and the available technology.
<h3>What is Long-Run Aggregate Supply Curve?</h3>
The Long-Run Aggregate Supply (LRAS) Curve depicts the relationship between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible. Along the LRAS, prices can move, but production cannot since it represents the output of full employment.
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Answer:
$21
Explanation:
As we know that
The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value
In the given case
The cost is $23
And, the net realizable value is
= Expected selling price - selling cost
= $36 - $15
= $21
So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory
Answer:
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The disclosure should follow the International Financial Reporting Standards. It should fairly show the presentation, provided that all the necessary documents are submitted to be a statement of financial position. <span>Disclosure in a partnership has to make the same guidelines as the entity requirements. </span>
Answer:
It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.
Explanation:
Because the data is not completely provided a general idea is provided here:
It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.
