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Xelga [282]
3 years ago
10

Pearl Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed

a long-term noncancelable purchase commitment with its largest supplier of this raw material on November 30, 2020, at an agreed price of $402,800. At December 31, 2020, the raw material had declined in price to $367,300.
What entry would you make on December 31, 2020, to recognize these facts?
Business
1 answer:
vitfil [10]3 years ago
4 0

Answer:

hhhhh

Explanation:

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The Fortunato Corp.'s inventory at Dec 31, 2018, was $325,000 based on a physical count priced at cost, and before any necessary
AleksandrR [38]

Answer:

$405,000

Explanation:

The computation of the ending inventory reported is shown below:

Inventory on December 31,2018 $325,000

Add: Goods purchased from a vendor i.e shipping point $30,000

Add: Goods sold FOB destination to customer $38,000

Add: consignment by Brecht Inc $12,000

Ending inventory reported $405,000

In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer

4 0
3 years ago
The higher wages college graduates receive are primarily due to discrimination Answer A: discrimination A differences in working
Naya [18.7K]

Answer:

A differences in working conditions

Explanation:

The working conditions of the employees matters a lot when it comes to determine the wages of the employees. There is always a discrimination made based on the working condition, the level of education received by the employees and many more.

Thus the higher wages received by the college graduates is mainly due to the working condition and the responsibilities that they are going take while working in an organization when compared to their sub-ordinates.

3 0
3 years ago
How would inflation impact on a start up business?
Mariana [72]

Answer:

Let's say that the value of the US dollar goes down due to inflation.

A startup business would have to pay more money to it's employees, spend more money on products, try and charge the same prices, and lose a lot of money. Essentially, more money would be going out than coming in.

5 0
3 years ago
Capitalizing goodwill only when it is purchased in an arm's-length transaction, and not capitalizing any goodwill generated inte
stiv31 [10]

Answer:

The correct answer is (C)

Explanation:

They are the two crucial characteristics that are general used to make accounting data more useful to make long-term decisions. To be exact, faithful representation helps to attain the relevant data for the company and this quality enhances the reliability of financial data. Completeness, fairness and free of error these three characteristic are a part of faithful representation of data.

7 0
3 years ago
A company received 500 applications for a specific position.30 were given an assignment test. Only 15 were invited to an intervi
morpeh [17]
I think c might be wrong tho
4 0
3 years ago
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