Answer:
$20,000
Explanation:
Based on the information given about Amble Inc the amount that Amble should record the truck received should be $20,000 because the book value is the amount of $12,000.
Secondly since we were told that the exchange has commercial substance which means that the amount of $20,000 which is the fair value of the truck which the buyer is willing to buy from the seller should be the amount that Amble should record the truck received .
Therefore Amble should record the truck received at the amount of $20,000
Answer:
A.20per ton
B.141,600
C.389,400
Explanation:
A.
($856,800+$97,200-$108,000+$216,000)/53,100 tons
=$1,062,000/53,100
= 20per ton
(b)
Resources removed totaled 26,550 tons
Less company sold 19,470 tons.
Balance 7,080 tons
Hence
Inventory 20*7,080
=141,600
(c)
20* 19,470 tons
=389,400
Answer:
All accounting process are important.
Explanation:
All the recording of facts are important because the recording of facts enables the company to look the company with a financial perspective. In this scenario the accounting system can be used to see which store has generated more than the rest of the stores and will help CFO to reward the staff and use their tactics to implement in the other stores to increase the efficiencies of other stores.
Answer:
0.90
Explanation:
The debt to equity ratio is a type of leverage ratio. It is also known as a risk ratio. It is calculated using the formula below.
Debt to Equity Ratio=Total Shareholders Equity/ Total Liabilities.
Shareholders' equity is comprised of retained earnings, share capital, income, and dividends.
Total liabilities are the current liabilities plus long term liabilities.
For Creatz Ltd, Total liabilities are $3500 + $7500= $11,000
Shareholders is $10,000
debt to equity ration
= $10,000/$11,000
=0.90
