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
dimulka [17.4K]
3 years ago
7

Inventory should be reported as follows except a.according to the chosen cost flow assumption. b.at lower of cost or market. c.a

s a long-term asset on the balance sheet. d.as a current asset on the balance sheet.
Business
1 answer:
Gnom [1K]3 years ago
5 0

Answer:

c.as a long-term asset on the balance sheet.

Explanation:

The inventory has come under the current asset as it is converted into cash within one year. Like other current assets i.e account receivable, prepaid insurance, etc contains high liquidity and they get converted into cash in less than one year

It also recorded at cost or market value whichever is lower plus it also chosen as cost flow consumption but it is not reported as a long term asset as it is classified as a current asset, not the long term asset

You might be interested in
Bain corp. owned 20,000 common shares of tell corp., purchased in year 1 for $180,000. on december 15, year 5, bain declared a p
amid [387]

Answer:

$300,000

Explanation:

Although the property dividend was distributed on January 15, year 6. the <u>amount that will be used is the value of the shares as at the declaration date and not the distribution date </u>

Hence, since the aggregate market price of the tell shares held by bain was $300,000. on the declaration date, the entry to record the declaration of the dividend should include a debit to retained earnings (or property dividends declared) of $300,000

8 0
3 years ago
A small business company is considering updating the current production line. There are two plans. For plan A, the fixed cost wi
ICE Princess25 [194]

Answer:

Results are below.

Explanation:

Giving the following information:

Plan A:

Fixed costs= $40,000

Unitary varaible cost= $27

Plan B:

Fixed costs= $54,000

Unitary varaible cost= $26

Selling price per unit= $35

<u>To calculate the break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

<u>Plan A:</u>

Break-even point in units= 40,000 / (35 - 27)

Break-even point in units= 5,000

<u>Plan B:</u>

Break-even point in units= 54,000 / (35 - 26)

Break-even point in units= 6,000

3 0
2 years ago
Corny Solutions processes various corn related food items. One of its facilities located in Iowa, performs some initial processi
Novay_Z [31]

Answer:

correct option is a. common costs

Explanation:

solution

As common costs are  those associated with operating a facility shared by the two departments

and here One facility located in Iowa  and corn from the facility will be more further process into the corn for popping and the cornmeal

so as given cost at given costs at Iowa plant is common costs

so correct option is a. common costs

5 0
3 years ago
You can afford a $200 per month car payment. You've found a 3 year loan at 4% interest. How big of a loan can you afford
Morgarella [4.7K]

Based on the payment you can afford, the interest rate, and the number of years, the loan you can afford is $6,774.15

<h3>What size of a loan can you afford?</h3>

First find the monthly interest rate:

= 4% /12

= 1/3%

Number of periods:

= 3 x 12

= 36 months

The loan you can afford can be found as:

= Payment x ( 1 - (1 + rate) ^ -number of periods) / rate

= 200 x (1 - (1 + 1/3%)⁻³⁶) / 1/3%
= $6,774.15

Find out more on loans at brainly.com/question/15088278.

4 0
2 years ago
You need to earn 6% annul real rate of return and, in addition, you need to keep up with the annual inflation rate. Exactly 4 ye
Sever21 [200]

Answer:

"4,000" is the appropriate option.

Explanation:

Given:

Real interest rate,

= 6%

Inflation rate,

= 2%

Annual deposit,

= $20,000

Now,

The nominal interest rate will be:

= Real \ interest \ rate+Inflation \ rate

= 6+2

= 8 (%)

As per the annual deposit, I was making,

= 20000\times 0.6

= 1200 \ every \ year

Inflation rate rise 3% i.e.,

= 2+3

= 5 (%)

Just to earn 1200, I have to:

= \frac{1200}{0.05}

= 24,000

Thus the above is the appropriate answer.

4 0
3 years ago
Other questions:
  • Define osmosis and predict the direction of water movement based on differences in solute concentrations.
    8·1 answer
  • Last year, DJ's Soda Fountains, Inc. reported an ROE = 27 percent. The firm's debt ratio was 50 percent, sales were $9 million,
    8·1 answer
  • Which term refers to the first level of a product, which depends on the customer value it generates?
    5·1 answer
  • The price paid by buyers in a market will decrease if the government a. increases a binding price floor in that market. b. incre
    12·1 answer
  • How much should i pay a babysitter for a overnight weekend? For 2 girls ( 7, and 11 years old)
    9·2 answers
  • On January 1, Year 1, Greenfield, Inc. issues $100,000 of 9% bonds maturing in 10 years when the market rate of interest is 8%.
    5·1 answer
  • A customer sells short 100 shares of ABC stock at $63 per share. The stock falls to $47, at which point the customer writes 1 AB
    12·1 answer
  • 43) An annuity is set up that will pay $1500 per year for ten years. What is the present value (PV) of this annuity given that t
    9·1 answer
  • Because organizations must change rapidly in a volatile, global market, non-supervisory employees must be prepared to
    14·1 answer
  • You are evaluating an investment that will provide the following cash flows at the end of each of the following years: year 1, $
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!