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Klio2033 [76]
3 years ago
12

Abel company must write-down its inventory by $30,000 to the net realizable value of $450,000 at december 31, 2016. what is the

effect of this writedown on the year 2016 financial statements
Business
1 answer:
ollegr [7]3 years ago
7 0

Answer:

Decrease ending inventory on the balance sheet.

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Mint Co.'s cash balance in its balance sheet is $1,300,000, of which $300,000 is identified as a compensating balance. Additiona
Natasha2012 [34]

Answer:

Correct option is B Yes and Yes

Yes - Compensating shall be reported, And Restricted shall also be reported.

Explanation:

Compensating balance is the minimum balance to be maintained in the company's bank account as this is used by bank for offsetting loan, and used by company to set up the loan amount.

Restricted balance is a choice made by the company to not use the funds and use it later for company's growth or future projected, but still since it cannot be used it shall also be reported accordingly.

Therefore the company has the need to report such restricted balance also and compensating balance has to be reported as well.

Therefore correct option is B

Yes - Compensating shall be reported, And Restricted shall also be reported.

7 0
4 years ago
27. You want to have $1 million in your savings account when you retire. You plan on investing a single lump sum today to fund t
Serjik [45]

Answer:A and C

Explanation:

Interest is compounded in savings accounts and me to reduce the amount that I must deposit today and still have my desired $1 million on the day I retire then I should either, invest in a different account paying a higher rate of interest meaning the invested amount will be compounded at a higher rate thus my initial investment amount requirement reduced. Or, since compounded interest is a function of time, if I retire later, that would mean a longer time for my initial investment to compound to $1 million, thus reducing my initial investment amount requirement.

5 0
3 years ago
In king's view, what three qualities must a movement have in order to achieve the goal of integration?
Novay_Z [31]

Answer:

Martin Luther King Jr. believed that in order for an integration movement to be successful, it had to be:

  1. organized in a militant manner: members must be vigorously active supporting the cause
  2. the movement must have a mass character: must include everyone, not just some selected individuals
  3. the movement must reject (repudiate) violence

If a movement doesn't embrace peace, then it will generate conflict and violence. If the members are passive, there ideals will not be noticed. If the movement does not include everyone, then it will create more segregation.

3 0
3 years ago
Lorenzo schedules work, and sends workers and vehicles to different locations. His job title is best described as _____ .
poizon [28]
Good question , I’ll answer later
7 0
3 years ago
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As Idle Time Gaming, Inc.'s business and product lines continue to grow, it wants to limit the need to build additional space to
Pachacha [2.7K]

Answer:

Letter D is correct. <u>Telecommuting.</u>

Explanation:

Telecommuting can be defined as the possibility that a company offers employees to work outside the office, being able to do the work from their own home or from different locations. In this work agreement, contact with the company is made through communication via email, telephone and remote conferences, but the  an employee can also be in the office to attend meetings or have direct contact with their managers.

There are many added benefits in the strategic use of telecommuting, some of which are greater flexibility and freedom of choice for the worker to define his time and place of work, which consequently increases productivity and motivation for work.

5 0
4 years ago
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