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3 years ago

Under a periodic inventory system:____________.

Business

1 answer:

anyanavicka [17]3 years ago

7 0

Answer:

1. accounting records continuously disclose the amount of inventory.

Explanation:

The periodic inventory system is the accounting method of calculating the value of inventory at the end of a specified period of time. Under this system, updates are made on a periodic basis rather than after every sale or purchase of inventory. It continuously tracks the record of inventory by physically counting the inventory and the cost of inventory is calculated by using the inventory calculation method, such as FIFO, LIFO, and weighted averages.

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Hardwig Inc. is considering whether to pursue a restricted or relaxed current asset investment policy. The firm's annual sales a

skad [1K]

Answer:

c. 1.50%

Explanation:

The Hardwig, Inc is considering to pursue a relaxed or restricted current asset investment. We need to calculate the ROE for both the situations. The Net income in the both situation will be;

EBIT - Interest expense - Tax expense = Net Income

Restricted situation = $150,000 - 72,000 - 31,200 = $46,800

Relaxed situation = $150,000 - 81,818 - 27,273 = $40,909

ROE = Net income / equity

Relaxed situation = $40,909 / $818,180 = 5.00%

Restricted situation = $46,800 / $720,000 = 6.50%

The difference between both ROE = 1.50%

6 0

3 years ago

Pecos Yo Company purchased a machine for $100,000 in cash on August 1 of Year 1. The machine has an estimated useful life of 10

Oduvanchick [21]

Answer:

Option E. CREDIT to Accumulated Depreciation for $9,000

Explanation:

The formula to compute depreciation expense is given as under:

Depreciation Expense = (Cost - Scrap Value) / Useful Life

By putting values we have:

Depreciation Expense = (100,000 - 10,000) / 10 Years = 9,000 per year

The double entry for the year 2 would be:

Dr Depreciation Expence 9,000

Cr Accumulated Depreciation 9,000

6 0

3 years ago

Smythe Co. makes furniture. The following data are taken from its production plans for the year.

PtichkaEL [24]

Answer:The hazardous waste disposal cost per unit for chair and table respectively is $2.83 and $1.54

Explanation:

From the question, If cost are assigned at a rate based on direct labor hours, then the total disposal cost for chairs is

total disposal cost for chairs =Direct labor hours required for chairs/Total Direct labor hours required for both furniture x Hazardous waste disposal costs

268,000/ 268,000+16,400 x 615,000

= 268,000/ 284,400 x 615,000

===$595,535.865

and for tables for is

total disposal cost for tables=Direct labor hours required for tables /Total Direct labor hours required for both furniture x Hazardous waste disposal costs

16,400 / 268,000+16,400 x 615,000

= 16,400 / 284,400 x 615,000

===$35,464.135

The hazardous waste disposal cost per unit for chair and table respectively is

For chair ====total disposal cost for chairs/ Expected production of chairs

$595,535.865/210,000 units= $2.83

For table ====total disposal cost for table/ Expected production oftable

$35,464.135/23,000 units=$1.54

4 0

3 years ago

A borrower sued a foreclosure consultant for violating the mortgage foreclosure consultant law. the borrower may receive actual

lesya692 [45]

The borrower may be awarded real losses, legal expenses, and, in extreme situations, the credit may be extended.

<h3>What is foreclosure consultant?</h3>

A person who stops the sale of foreclosure is called as foreclosure consultant. He, directly or indirectly, makes a solicitation, representation, or offer to an owner to perform for the act of foreclosure.

A borrower filed a lawsuit against a foreclosure consultant for breaking the mortgage foreclosure consultant legislation. The borrower may be awarded actual damages, legal charges, and credit may be extended in exceptional cases.

Therefore, it can be concluded that credit expansion can be done in some of the cases for violating the mortgage.

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6 0

1 year ago

When Treasury bills are auctioned off, if buyers are willing to pay $900 for a $1,000 treasury bill, the government is being ask

andriy [413]

The government is paying 10% in interest.

What interest on Treasury bills?

The interest on Treasury bills compares the interest earned by the investor to the face value of the T-bill, in other words, it is determined as the interest(i.e. face value-purchase price) divided by the face value.

From an investor's perspective, I mean the person buy purchasing the T-bill, his rate of return is the interest divided by the amount invested, which is the purchase price.

Interest=face value-purchase price

face value=$1,000

purchase price=$900

interest=$1000-$900

interest=$100

government's interest rate=interest/face value

government's interest rate=$100/$1000

government's interest rate=10%

In other words, the government by a way of issuing the bills is paying interest of 10% to the lenders

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4 0

2 years ago