1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
julsineya [31]
3 years ago
11

For purposes of allocating joint costs to joint products, the estimated net realizable value at split-off is equal to A. final s

ales price reduced by cost to complete after split-off. B. sales price less a normal profit margin at the point of sale C. separable product cost plus a normal profit margin. D. total sales value less joint costs at point of split-off.
Business
1 answer:
Marta_Voda [28]3 years ago
5 0

Answer:

A. Final sales price reduced by cost to complete after split-off.

Explanation:

Net realizable value (NRV) is explained here to be the value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with the eventual sale or disposal of the asset. It is a common method used to evaluate an asset's value for inventory accounting. NRV is a valuation method used in both Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).

Many business transactions allow for judgment or discretion when choosing an accounting method.

A conservative approach means that the accountant should use the accounting method that generates less profit and does not overstate the value of assets.

You might be interested in
Scott wants to accumulate $3,800 over a period of 11 years so that a cash payment can be made for roof maintenance on his summer
Kamila [148]

Answer:

$240.76

Explanation:

The formula to determine the annual deposit is :

p = FV / annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

Annuity factor = (1.07^11 - 1) / 0.07 = 15.783599

p = $3800 / 15.783599 = $240.76

3 0
2 years ago
The following information is taken from Reagan Company's December 31 balance sheet:
zimovet [89]

Answer:

Firm’s sales uncollected for year is 42 days.

Explanation:

Account receivable turnover ratio = $621,000 / $70,422

Account receivable turnover ratio = 8.69

Thus, accounts receivable turnover ratio is 8.69

Average collection period = 365 / Account receivable turnover ratio

Average collection period = 365 days / 8.69

Average collection period = 42.00

Thus, firm’s sales uncollected for year is 42 days.

8 0
3 years ago
If the potential employer is a candle-making company, _____ would be one of the employer’s raw materials.
Scilla [17]

Answer:

wax

Explanation:

Raw materials are the components or ingredients used to manufacture finished goods. They are the unprocessed materials that go through the production process or refining to give a consumable product.

Wax is the main raw material in the production of candles. A company involved in making candles need a source of wax to stay in business.

5 0
3 years ago
During the year Waterway reported net sales of $951000. The company had accounts receivable of $75500 at the beginning of the ye
Nookie1986 [14]

Answer:

37.9 days

Explanation:

Given that,

Net sales = $951,000

Beginning accounts receivables = $75,500

Ending accounts receivables = $122,000

Average accounts receivables:

= (Beginning accounts receivables + Ending accounts receivables) ÷ 2

= ($75,500 + $122,000) ÷ 2

= $98,750

Accounts Receivable Turnover:

= Net sales ÷ Average accounts receivables

= $951,000 ÷ $98,750

= 9.63

Average collection period:

= 365 days ÷ Accounts Receivable Turnover

= 365 days ÷ 9.63

= 37.9 days

4 0
3 years ago
Creative Sound Systems sold investments, land, and its own common stock for $32.0 million, $14.8 million, and $39.6 million, res
Studentka2010 [4]

Answer:

Creative Sound Systems should report $18,800,000 as net cash flows from financing activities

Explanation:

Cash flow Financing activities are the funds that the business acquire or paid to finance its main activities, these involve borrowing and repaying short-term loans, long-term loans and other long-term liabilities.

From the question, Cash inflow from Issue of common share and Cash outflow from purchase of treasury stock are the only recognizable Financing activities

Particulars                                                                Amount

Cash inflow from Issue of common share              $39,600,000

Cash outflow from purchase of treasury stock     -$20,800,000

Net cash flows from financing activities              $18,800,000

7 0
3 years ago
Other questions:
  • Carly interviews for the job—and she gets it! Her new boss says that what impressed him most was her global mindset, and he want
    6·1 answer
  • Lenders always accept applications for credit.
    10·2 answers
  • An upscale organic foods grocery chain is implementing an information system that will enable it to add same-day home delivery o
    5·1 answer
  • In a free-market economy, firms face some degree of uncertainty, or risk. Some of this risk is controllable, and some is not. Id
    8·1 answer
  • Which of these scenarios is a case of misuse of workplace resources?
    8·2 answers
  • After the purchase of a new car, Johanna Morales had the feeling that she made an awful mistake in terms of paying too much for
    5·1 answer
  • 1. Out of 115000 students, 20% failed in SLC,40% of failers.
    7·2 answers
  • As long as a public sector activity will generate benefits regardless of the costs, the activity should definitely be undertaken
    15·1 answer
  • Pompeii, Inc., has sales of $54,500, costs of $24,800, depreciation expense of $2,700, and interest expense of $2,450. If the ta
    8·1 answer
  • The FDIC in the United States insures some financial accounts up to what amount?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!