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True [87]
4 years ago
6

The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Rea

lizable Value RSK-89013 550 $38 $44 LKW-91247 329 49 45 QEC-57429 462 25 33 Required: 1. Compute the carrying value of the ending inventory using the lower of cost or market method applied on an item-by-item basis. $ 2. Prepare the journal entry required to value the inventory at lower of cost or market. (Inventory adjustment to market value)

Business
1 answer:
valentina_108 [34]4 years ago
3 0

Answer:

1. $47,255

2. Dr Cost of goods sold account $1,316

Cr Inventory account $1,316

Explanation:

Please find attached detailed solution to the above questions and answers.

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Porter Incorporated issued $210,000 of 6 percent, 10-year, callable bonds on January 1, Year 1. The bonds were issued at their f
pshichka [43]

Answer:

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

Explanation:

Porter Incorporated Journal entries

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

(102%×$210,000=$214,200)

7 0
4 years ago
In a company's SWOT analysis, which of the following is an example of a strength?
jasenka [17]

in my opinion C is the answer !

Explanation:

i hope u received !if it's correct then thAnk

3 0
3 years ago
Mutual funds that invest only in companies that meet certain criteria and usually exclude companies that produce tobacco, weapon
ozzi

Answer:

socially responsible funds

Explanation:

socially responsible funds

An investment plan that is socially conscious is one that finds good returns on investment and ethical business practices to go hand in hand. SRI investors think they can find securities that will receive attractive returns and help create better world by incorporating those social requirements with robust investment standards.

4 0
4 years ago
Sneakers Incorporated designs and manufactures fashion sneakers. For the coming year, the company scheduled production of 50,000
djyliett [7]

Answer:

Net loss $100,000

Explanation:

<em>The relevant cost for decision to accept the special order are </em>

<em>I Incremental Revenue from the special order </em>

<em>2. incremental variable cost</em>

<em>Note that whether or not the special order is accepted the fixed  manufacturing and fixed operating expenses of would be incurred either way.  Therefore , they are not relevant for the decision</em>

<em />

Variable cost cost= 40 +10= 50

Sales revenue from the special order                                         $

     (45 × 20,000)                                                                    900000

Variable cost of the special order  (50× 20,000)                <u>(1,000,000 )  </u>

Net loss                                                                                    <u>100,000</u>

5 0
3 years ago
Why did laborers sign contracts with an x?
adelina 88 [10]
Because they didn't know how to write their name and an X was easy. :)
3 0
3 years ago
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