Comparing seller invoices to stock fees, obtaining decreased price or market facts, and recalculating deprecation schedules relate to the assertion: of valuation and allocation.
Definition of assertion: the act of affirming or something this is asserted: consisting of. a: insistent and superb in asserting, keeping, or defending (as of a proper or attribute) an announcement of ownership/innocence. b : an announcement that something is the case He provided no proof to help his assertions.
An instance of someone making a declaration is a person who stands up boldly in a meeting with a factor in opposition to the presenter, despite having valid proof to guide his statement. An example of an announcement become that of ancient scientists that stated the arena changed into a flat.
An assertive sentence is a sentence that states a fact. Such sentences are easy statements. The nation asserts or declares something. they are additionally referred to as declarative sentences. Assertive sentences typically give up with a length or complete prevent.
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Answer:
Before issuing the note
Current ratio
= <u>Current assets</u>
Current liabilities
= <u>$502,000</u>
$274,000
= 1.83: 1
After issuing the note
Current ratio
= <u>$538,400</u>
$274,000
= 1.96:1
Explanation:
Current ratio is the ratio of current assets to current liabilities. Before issuing the note, current assets amounted to $502,000 while current liabilities were $274,000. After issuing the note, current assets increased to $538,400 as a result of $39,400 received on note issue. This increases the current ratio from 1.83 to 1.96.
Answer:
C) a stockout can occur during the review period as well as during the lead time.
Explanation:
In a fixed-period inventory system replenishment orders are sent periodically or after a fixed time interval.
This type of inventory system is not very used anymore as more modern inventory systems are used now, like perpetual inventory system or just in time inventory management. It's not cost efficient.
Answer:
Golf hat inventory (Dr.) $11,700
Purchase (Cr.) $11,700
Cash (Dr.) $525,000
Sales (Cr.) $ 525,000
Redemption of coupons
10500 / 5 = 2,100
50% customers redeem the coupon then
2100 hats * 50% = 1,050 hats.
Explanation:
Marin golf has purchased hats at a price of $9 per hat. This transaction is recorded in the journal entries. The company has also introduced a promotion in which customers can redeem coupon and get a free golf hat in exchange of 5 coupons.
Answer:
The correct answer is: Cash outflow in the operating section.
Explanation:
The statement of cash flows is the basic financial statement that shows the cash generated and used in the operation, investment and financing activities. The change of the different items in the Balance Sheet that affect cash must be determined for its implementation.
The purpose of the statement of cash flows has to do with informing the generation and use of cash and cash equivalents in relation to operation, financing and investment activities.
The objective of this statement is to present pertinent and concise information, relating to cash collections and disbursements of an economic entity during a period so that users of financial statements have additional elements to examine the entity's ability to generate future cash flows. effective, to assess the ability to meet its obligations, determine internal and external financing, analyze the changes presented in cash, and establish the differences between net income and collections and disbursements.
