Answer: $900
Explanation: LIFO inventory costing method.
This means Last In First Out method. Since the last stock for the year was bought in Nov and the company sold 150 units.
Using LIFO method, 150 * $6 = $900
Answer:
$2,562
Explanation:
Excess tax depreciation 20X1 = 20,000 - 9,000 = $11,000
Excess tax depreciation 20X2 = 12,000 - 9,000 = $3,000
Excess tax depreciation 20X3 = 7,200 - 9,000 = <u>($1,800)</u>
Total Excess tax depreciation <u>$12,200</u>
Deferred taxes payable balance,Dec 31. 20X3 = Total Excess tax depreciation * Tax rate = $12,200 * 21% = $2,562 Credit
Answer:
d. Over time
Explanation:
The interest revenue will be recognize over time, regardless of the payment
If we only recognize revenue at payment due, if the bank client doesn't paid then we cannot recognize the accrued interest receivable.
We will recognize over time.
Answer:
Thr correct answer is b. high.
Explanation:
New investment is usually put into an economy when profit expectations are high.
The rate of economic growth (means profit opportunity) affects the level of investment. Business investment tends to be quite volatile. If businesses see an improvement in economic forecasts, they will increase investment to meet future demand. Therefore, an improvement in the rate of economic growth can cause a substantial rise in investment. But, if there is an economic downturn and a fall in the rate of economic growth, business will cut back on investment.
However, in addition, to the profit expectations, the level of investment also depends on the rate of interest, business confidence, technological progress and, government regulations and policies .
The receivables turnover ratio is an
activity ratio computing how proficiently a firm uses its assets.
Receivables turnover ratio can be calculated by:
net value of credit sales during a given period divided by the average
accounts receivables.
Receivables turnover = sales / receivable
= 4,515,830 / 336,500
= 13.42
Days’ sales in receivables = 365 days/ receivable turnover
= 365 / 13.42
= 27.20
The average collection period is 27.20 days.