The inventory that will be reported on the balance sheets is $43000 while the cost of goods sold is $455000
Your question is incomplete. A similar question will be used on guiding you. Let's assume the following figures:
- The <em>net realizable value of ending inventory</em> = $43000
- <em>Historical cost of ending inventory</em> = $58000
- <em>Cost of goods sold</em> = $440000
To know the inventory amount that will be reported on the balance sheets, you've to select the lowest between the net realizable value of the ending inventory and the<em> historical cost</em> of ending inventory. The lowest is $43000.
The<em> cost of goods sold</em> that'll be reported will be:
= $440,000 + $15,000
= $455,000
Read related link on:
brainly.com/question/24952762
Answer:
The correct answer is letter "C": Managers prefer regular, written reports on firm activities.
Explanation:
Managerial behavior is an approach that focused on the implementation of motivation within the work-frame. The classical management perspective, on the other hand, states that employees are driven by physical and economic needs. It sets aside the worker's job satisfaction and mainly focuses on job specialization. When comparing the two points of view, written reports on firm activities have nothing to do.
Answer and Explanation:
The journal entries required to adjust the balance of cash as follows:
1. Cash Dr $1,128
To Notes receivable $1,100
To Interest revenue $28
(Being the cash is recorded)
Here cash is debited as it increased the assets and credited the notes receivable and interest revenue as it decreased the assets and revenue
2. Service expense Dr $78
Account receivable Dr $280
To cash $358
(being the cash paid is recorded)
here service expense and account receivable is debited as it increased the expenses and assets and credited the cash as it decreased the assets
Answer:
Detaled solution can be seen in the attached diagrams: