Answer:
Option (b) is correct.
Explanation:
Correct amount of inventory to be reported:
Amount of inventory as per physical verification = $320,000
Cost of goods under consignment to Herschel Corporation = $47,000
Value of inventory to be reported:
= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation
= $320,000 + $47,000
= $367,000
Answer: 2.0143
Explanation:
From the question, we are informed that the exchange rate between U.S. dollars and Swiss francs is SF 1.41 = $1.00, and the exchange rate between the U.S. dollar and the euro is $1.00 = 0.70 euro.
The cross rate of Swiss francs to euros will be the exchange rate between U.S. dollars and Swiss francs which is SF 1.41 = $1.00 multiplied by the exchange rate between the U.S. dollar and the euro which is $1.00 = 0.70 euro. This will now be:
= (1.41/1.00) × (1.00/0.70)
= 1.41 × 1.4285714286
= 2.0143
The cross rate of Swiss francs to euros is SF 2.0143 = 1 euro
Answer:
D) $27, 200
Explanation:
Cash in the checking account and petty cash are considered cash directly. Cash equivalents are securities that can be converted into cash within a 90 day period.
cash and cash equivalents are = checking account + petty cash + commercial paper = $20,000 + $200 + $7,000 = $27,200
Answer:
Computer; $ 3800
Printer; $3150
Desk; $4000
File Cabinet; $3200
Explanation:
First we need to determine how to determine the depreciable basis for the asset.
The basis of assets converted from personal use to business use in terms of depreciable amount is the lesser of (1) fair market value on date of conversion or (2) basis on the date of conversion (the cost price)
Now we apply this to the following assets
Computer: Depreciable base of $ 3800 ( FMV < Purchase price )
Printer: $3150 ( FMV < Purchase price )
Desk: $4000 ( FMV < Purchase price )
File Cabinet: $3200 ( FMV > Purchase price )
Answer:
d. Absenteeism significantly increases costs.
Explanation:
Correlation shows how a change in the value of one variable cause a change in the value of another variable either in the same direction or opposite direction. correlation coefficient is the numerical value of the degree of correlation. the Correlation coefficients can either be -1, 1,or 0
1.0 means a perfect positive correlation and when r = -1.0 indicates a perfect negative correlation. where correlation, is zero (0), it means there is no relationship between the variables being tested.
Since correlation in this question is 0.7 which is tending towards +1, it means there is a strong or significant correlation between absenteeism and increased costs
