Daimler AG agreeing to sell 30 trucks to Romania in exchange for 150 Romanian-made Jeeps, is an example of countertrade
<h3>What is Countertrade?</h3>
Countertrade is the means by which good and services is being paid for, with other goods or services, instead of with money.
Examples of countertrade include:
- Barter
- Counter purchase
- Offsets
From the question, since Daimler AG agreed to sell 30 trucks to Romania in exchange for 150 Romanian-made Jeeps, hence countertrade has occurred.
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Answer:
$22,500
Explanation:
Given that,
During the year, Cost of shipping inventory to the Ski Outfit = $92,500
By the end of the year, amount of merchandise sold to customers = $70,000
Mogul will repeat inventory at the year end:
= Cost of inventory sent to consignee - Cost of inventory sold by consignee
= $92,500 - $70,000
= $22,500
Therefore, the amount of inventory will Mogul report at year end is $22,500.
Answer:
D. $137
Explanation:
Using FIFO method, that is first in, first out
After Sale on October 8 we have 7 unit left in the inventory which cost $77
A new purchase was made for 15 units at $12 per unit on October 20, totaling current inventory in unit to 21 unit.
Therefore
Sale on October 25 of 12 unit
= 7 units at $77 + 5 units at $(5 × 12)
= 77 + 60
= $137
Answer:
$10,408
Explanation:
The computation of the depreciation expense for the second year using the double-declining balance depreciation method is shown below:
First we have to determine the depreciation rate which is shown below:
= One ÷ useful life
= 1 ÷ 7
= 14.28%
Now the rate is double So, 28.57%
In year 1, the original cost is $51,000, so the depreciation is $14,571 after applying the 28.57% depreciation rate
And, in year 2, the ($51,000 - $14,571) × 28.57% = $10,408
