1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SashulF [63]
3 years ago
15

If the cost of an item of inventory is $60, the current replacement cost is $65, and the selling price is $95, the amount includ

ed in inventory according to the lower of cost or market concept is:
Business
1 answer:
KATRIN_1 [288]3 years ago
5 0

Answer:

The amount included in the inventory is $60

Explanation:

Lower of cost and net realizable value determine the value of closing inventory based on the cost incurred to produce or purchase a inventory unit or Market value of the inventory unit which ever is lower. In this question cost of unit of inventory is $60 and the replacement cost which market value of the item of inventory. The unit cost of an item of inventory is lower as compared to the replacement value.

You might be interested in
and money is transferred out of a checking account, it is the transfer of funds that constitutes the actual payment for the good
bogdanovich [222]

The price made to dealers that lend or store money is expressed as an annualized percentage of the monetary amount lent or saved. every now and then known as nominal hobby price or rate of cash.

The Fed implements financial coverage normally with the aid of influencing the federal budget price, the hobby fee that financial institutions rate each different for loans in a single day market for reserves.

Required reserves def. the amount of reserves banks must maintain in their vault or with the Fed that they cannot lend out expanded reserve requirement banks need to hold extra deposits as reserves, as a result reducing the quantity available for loans.

Financial coverage. A macroeconomic coverage enacted through the relevant bank involves the control of cash delivery and hobby charges. This coverage is regularly used to stimulate increase, manage inflation, and control change rates.

Learn more about goods and services here:-brainly.com/question/25262030

#SPJ4

3 0
2 years ago
According to globalization opponents what is a disadvantage of globalization?.
ad-work [718]

Answer:

According to globalization opponents, what is a disadvantage of globalization? Globalization results in companies "exporting jobs" to low-wage nations.

3 0
2 years ago
Read 2 more answers
Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [The following information applies to the questio
VladimirAG [237]

Answer:

Demon Deacons Corporation

Adjusted Trial Balance:

Demon Deacons Corporation is presented below.

Accounts                                 Debit     Credit

Cash                                     $ 9,400

Accounts Receivable             14,400

Prepaid Rent                           4,320

Supplies                                     740

Deferred Revenue                                   $ 1,800

Salaries Payable                                            700

Common Stock                                          11,000

Retained Earnings                                     5,400

Service Revenue                                     47,480

Salaries Expense                 32,700

Rent Expense                         2,160

Supplies Expense                 2,660

                                         $ 66,380   $ 66,380

Explanation:

a) Data and Calculations:

The December 31, 2021, unadjusted trial balance for

Demon Deacons Corporation is presented below.

Accounts                                 Debit     Credit

Cash                                     $ 9,400

Accounts Receivable             14,400

Prepaid Rent                           6,480

Supplies                                  3,400

Deferred Revenue                                  $ 2,400

Common Stock                                          11,000

Retained Earnings                                     5,400

Service Revenue                                     46,880

Salaries Expense                 32,000

                                         $ 65,680   $ 65,680

Adjustments:

DR Rent Expense $2,160         CR Prepaid Rent $2,160

DR Deferred Revenue $600   CR Service Revenue $600

DR Salaries Expense $700      CR Salaries Payable $700

DR Supplies Expense $2,660 CR Supplies $2,660

8 0
3 years ago
One of the other employees in your department did not show up for work. He will not be coming in today, and no one will be arriv
Margarita [4]

Answer:

the best way to handle this situation is to share him responsibilities amongst available employees so as to keep the ball rolling in the office. business can't shut down because he didn't show up

7 0
3 years ago
Read 2 more answers
On June 1, $50,000 of treasury bonds were purchased between interest dates. The broker commission was $500. The bonds pay intere
timurjin [86]

Answer:

$50,500

Explanation:

The investment treasury bonds account must be debited by $50,500 which includes the face value of the bonds ($50,000) and the broker's commission ($500). Investment accounts only record the purchase price of the bonds, they do not record any accrued interests.

4 0
3 years ago
Other questions:
  • Linda's Autoplex performs oil changes on automobiles, light trucks, and sport utility vehicles. She is a profit maximizing busin
    8·1 answer
  • Big Walnut Nut Company has the right to buy back its preferred stock from its preferred stockholders; however, the company will
    10·1 answer
  • Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and
    10·1 answer
  • A bond will pay $80 in interest at the end of each of the next three years, plus $1,000 at the end of the third year. If it has
    12·1 answer
  • Outline two ways in which Britax reduced resistance to change.
    13·1 answer
  • Bryan searched for a new bank prior to filling out his direct deposit form at his new employer. He noted that 2-4-7 Bank offered
    9·1 answer
  • A college graduate who is searching for his first job illustrates the concept of cyclical unemployment. frictional unemployment.
    15·1 answer
  • Internationally diversified firms: a. are more likely to produce below-average returns for investors in the long run. b. may nee
    11·1 answer
  • __________ is a cornerstone in the protection of information assets and in the prevention of financial loss.
    14·2 answers
  • Carmel Corporation is considering the purchase of a machine costing $52,000 with a 4-year useful life and no salvage value. Carm
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!