Ideally;
Inventory = Cost of raw materials + Cost of finished goods + Cost of work-in-progress
Assuming this ideal case, Harlan's inventory would be;
Inventory = $14,000+$25,000+$18,600 = $57,600
However, if work-in-progress inventory was listed as $0;
Then, the new work-in-progress would be;
Inventory = 57,600-18,600 = $39,000
This would reduce the inventory for Harlan Enterprises which may affect other financial ratios such as inventory turn-over ratio. As a result, such ratios will not reflect the exact position of the company.
Answer:
Alpha Moose Transporters's retained earnings breakpoint is B. $1,655,556
Explanation:
Addition to retained earnings = $745,000
Weight of equity = 45%
Retained earnings breakeven = $745,000 / 45%
= $1,655,556.
Retained earnings breakeven is $1,655,556.
Answer:
I believe it it the second option.
Explanation:
Answer:
B, a license
Explanation:
A license is an official permit issued by a person or body in authority to do, own or use a thing. A license could be granted as a sign of agreement between parties on a particular thing.
From the question, Elsa gave Gina license to use her farm land as a camp for one night. After one night, the license expires.
I hope this helps.
Answer:
D. Net income of $150,000
Explanation:
$705,000 + X - $30,000 = $825,000
X = $150,000