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Tamiku [17]
3 years ago
13

Data related to the inventories of Mountain Ski Equipment and Supplies is presented below:

Business
1 answer:
guajiro [1.7K]3 years ago
4 0

Answer:

<em>b. $ 90,000.</em>

Explanation:

Net realizable value(Market value) for apparel=Selling price minus associated selling expenses e.g sales commission.

Market value for  Apparel= $ 120,000-(120,000*10%)

                                          =$ 120,000-12,00

Market value for  Apparel =$108,000

Apparel cost=$90,000

The lower of the above costs is $90,000.

Lower of cost or market is one of approaches of valuing and reporting inventory. Ending inventory is usually stated at historical cost. When original cost of the ending inventory is greater than the net realizable value, meaning that the inventory has lost value. The inventory has decreased in value below historical cost, then its carrying value is reduced and reported on the balance sheet. The method for reporting this is called current market value.

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Please label each scenario below as to whether or not the person is acting rationally, making choices leading to the outcome the
likoan [24]

:Answer: Steven is Acting Rationally,

Jacklyn is Acting Irrationally, Brian is acting irrational

Explanation:

Rational behavior refers to a thoroughly thought out decision-making process that people make result in thier benefit alone

For irrational behaviours, choices are made without thinking thoroughly and do not benefit the individual.

Here, Steven acted RATIONAL by leaving the restaurant because the meal according to me does not taste well, he would rather leave than manage what is detrimental to him.

Jacklyn acted lRRATIONAL because she spends more than what she can, in the long run, this will not be beneficial to her.

Brian also acts IRRATIONAL because he reduces to do his assignment at the right time, knowing fully well the cons of behaving like this will not be beneficial to him.

6 0
3 years ago
Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a par value of $106,000 and semi-annual interest payments.
Rashid [163]

Answer: See explanation

Explanation:

a. The issuance of bonds on December 31, 2018.

Dec 31, 2018.

Debit Cash $99880

Debit Discount on bonds payable $6120

Credit Bonds payable $106000

(to record bond issue)

b. The first through fourth interest payments on each June 30 and December 31.

June 30

Debit Interest expense = $4718

Credit Discount on bonds payable = $1538

Credit Cash (106000×6%×6/12) = $3180

(To record interest)

Dec, 31.

Debit Interest expense = $4718

Credit Discount on bonds payable = $1538

Credit Cash (106000×6%×6/12) = $3180

(To record interest)

June 30

Debit Interest expense = $4718

Credit Discount on bonds payable = $1538

Credit Cash (106000×6%×6/12) = $3180

(To record interest)

Dec, 31

Debit Interest expense = $4718

Credit Discount on bonds payable = $1538

Credit Cash (106000×6%×6/12) = $3180

(To record interest)

c. The maturity of the bonds on December 31, 2020.

Dec 31,2020

Debit Bonds payable = $106000

Credit Cash = $106000

(To record retirement)

5 0
3 years ago
Allowing third-party sellers to list their products on Amazon is controversial. Why would Amazon allow products sold by others t
Eddi Din [679]

Answer:

<u>e. All of the above.</u>

Explanation:

Interestingly, all the above-listed options could serve as a possible reason why Amazon allows products sold by others to appear on its site.

<em>Remember, </em>Amazon is a marketplace;<em> </em>since the definition of a market involves dealings with several entities, it thus logical to expect Amazon to allow people (other sellers) to transact on its platform.

3 0
2 years ago
Career fulfillment means:
castortr0y [4]
Answer is a hope this helps cause its like common sense
6 0
2 years ago
Read 2 more answers
In an economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input.
Tresset [83]

Answer:

Correct answer is False for economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input

Since, both input and output are fixed, the input can’t be decreased. Each of them has to be fixed in directive to vary the association among them. (It can be fixed contribution, or fixed production or neither one of them is fixed)

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3 years ago
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