Answer:
The company’s inventory be reported on the balance sheet as $3,150.
Explanation:
GAAP and IFRS requires that the inventory of the company should be recorded as Lower cost and Net realizable value of the inventory.
According to given data
Available Inventory = 210 units
Cost of Inventory = 210 units x $20 = $4,200
Net realizable value is the value of the inventory which can be recovered on the immediate sale. the current market value of the inventory is $15.
So,
Net realizable value is = 2,100 units x $15 = $3,150
As the Net realizable value is lower than the cost of the inventory, $3,150 should be reported as inventory on the balance sheet.
If a shopkeeper starts to sell the new football, their weekly margins would be:
300 x 40 = $12,000
However, the sales of the lower cost footballs will decrease by:
100 x 20 = $2,000 every week
Hence, the total margin we can generate by selling every week by selling the new footballs is:
12,000-2,000 = $10,000
This means the shopkeeper should actually start selling new footballs since their shop will become more profitable
Lorna makes an advance rent payment of $36,000 on January 1. These are the outcomes of this transaction. decreasing cash and increasing rent.
Cash in economics refers to currency in its actual, physical form, such as coins and banknotes.
Cash is defined in bookkeeping and financial accounting as current assets made up of money or money equivalents that may be obtained instantly or almost immediately (as in the case of money market accounts). Cash is viewed as a tool to either prevent a decline in the financial markets or as a reserve for payments, in the event of a structural or accidental negative cash flow.
To know more about cash
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Answer:
Correct answer is (B) consumption and investment both decrease.
Explanation:
when government spending increases and taxes increase by an equal amount there will be decrease in both consumption and investment.
Answer:
dynamics
Explanation:
Group dynamics is a term that is used in describing the formation and the actual nature or characteristics of a group in connection to every member of the group and or in relation to how the group interacts with other groups.
Hence, the study of group DYNAMICS helps us to recognize the formation of a group and states how the group should be organized, lead, and promoted.