3 years ago

What first in first out in accounting

1 answer:

4 0

The correct answer is FIFO meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold.

You might be interested in

A professional basketball players' union negotiates a contract that dramatically increases all players' salaries. How would this

Misha Larkins [42]

Answer:

B) It would increase the opportunity cost of becoming a broadcaster.

Explanation:

Opportunity costs are defined as the cost of choosing one alternative activity or investment over another.

The basketball player has two options, he can continue to play for an NBA team with a much better salary, or he can decide to become a broadcaster. If the player decides to quit basketball, then he will lose more money due to pay raise. That amount of money that he will lose if he decides to become a broadcaster is the opportunity cost of becoming a broadcaster. Since the pay increase raised the player's salary, the opportunity cost of becoming a broadcaster also increases.

4 0

3 years ago

The fact that a bank's assets tend to be long-term while its liabilities are short-term creates: multiple choice interest-rate r

kow [346]

Do you have any choices or any info so I can help you?
:)

6 0

3 years ago

You just deposited $6,500 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add anothe

yarga [219]

Answer:

The correct answer is $20,543.17.

Explanation:

According to given scenario, the given data are as follows:

1st Payment (Pmt) = $6,500 for 12 Quarters

Interest rate = 4%

2nd payment = $5,000 for 8 Quarters

3rd payment = $7,500 for 4 Quarters

So, future value can be calculated as follows:

FV = 1st PV (1 + r )^n + 2nd PV (1 + r )^n + 3rd PV (1 + r )^n

FV = $6,500 × ( 1 + 4%/4)^12 + $5,000 × (1 + 4%/4)^8 + $7,500 × (1 + 4%/4)^4

= $6500 × (1.01)^12 + $5,000 × (1.01)^8 + $7,500 × (1.01)^4

= $7,324.36 + $5,414.28 + $7,804.53

= $20,543.17

Hence, the correct answer is $20,543.17.

5 0

3 years ago

Each of the three categories of investments in debt and equity securities has similar accounting for all of the following transa

Arlecino [84]

Answer:

d. recognition of realized gains or losses on sales

Explanation:

In the case of trading securities, the non-realized gain and losses should be recorded in the income statement. So at the time when securties are sold so here the realized gain are distinct as compared to the afs and htm securties

So as per the given situation, the option d is correct

And, the same should be considered

7 0

3 years ago

Successful bridging requires a fundamental reformulation of the problem such that the parties are no longer squabbling over thei

VladimirAG [237]

The answer to the question will be true

5 0

3 years ago