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2 years ago

The supply of shoes dropped. Stores are having a hard time finding enough shoes to sell. What will happen to the price of shoes?

Business

1 answer:

PilotLPTM [1.2K]2 years ago

8 0

Answer:

The price of the shoes will increase.

Explanation:

It is supply-and-demand. In this case, the supply is low but the demand is high so the store(s) have to raise the prices.

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G MC Qu. 87 When is a goodwill impairment loss... When is a goodwill impairment loss recognized?

marin [14]

Answer:

Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset.

An impairment is recognized as a loss on the income statement and as a reduction in the goodwill account. The amount of the loss is the difference between the current fair market value of the asset and its carrying value or amount.

Explanation:

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3 years ago

At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the

viktelen [127]

The amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.

<h3>What is liability?</h3>

"At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the judgment during year 2. The remaining balance of the judgment includes $25,000 payable early in year 3 and $75,000 payable at the end of year 4. What amount should the government entity report as a liability for the judgment in its year2 governmental fund financial statements?

A) $500,000 B) $100,000 C) $75,000 D) $25,000

It should be noted that liability simply means the future sacrifices of economic benefit that an entity is obliged to make.

Here, the amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.

Learn more about liability on:

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1 year ago

Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one speci

Sedbober [7]

Answer:

The correct answer is:

executive salaries, utilities and insurance (C.)

Explanation:

Indirect costs are costs that are not directly attributable objectively to a good, project, facility or service. Indirect costs are either fixed or variable. Fixed indirect costs are costs that do not change as the units/volumes of production change, while variable indirect costs are costs that change with change in production units. Indirect cost can also be classified as either recurring or fixed. Recurring indirect costs are those that are repeated in nature, example is salaries of laborers, while fixed indirect can be cost of transportation. In this example, executive salaries, utilities and insurance are not directly attributable to a specific project at hand; the executives do not partake in the project hands-on, insurance and utilities such as electricity rent are not project-specific and it is financially infeasible to do so.

On the other hand, direct costs are costs that are directly attributable to the object, and it is financially feasible to do so, hence travel cost, labor, consultant and subcontractors costs, and material costs are all directly linked to the project (object).

3 0

3 years ago

Fluegge Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing

Softa [21]

Answer:

$14,016 favorable

Explanation:

The computation of the raw materials price variance is shown below:

= Actual Quantity × (Standard Price - Actual Price)

= 23,360 liters × ($5.40 - $4.80)

= 23,360 liters × $0.6

= $14,016 favorable

We simply deduct the actual price from the standard price and then multiplied it by the actual quantity so that actual value can come

8 0

3 years ago

The following are selected items derived from Dibb Company's adjusted trial balance on December 31, 2016: Loss on sale of land $

natta225 [31]

Answer:

<h2> Dibb Company</h2><h2> Income Statement </h2><h2> December 31, 2016</h2>

Revenues and gains

Sales revenues (net) <u>$198,000</u>

Total revenues and gains $198,000

Expenses and losses

Cost of goods sold ($130,000)

Loss on sale of land <u> ($5,000)</u>

Total expenses and losses ($135,000)

Net income before taxes $63,000

Income taxes <u>($18,900)</u>

Net income <u>$44,100</u>

Explanation:

A multi-step income statement uses multiple calculations to determine the company's net income, therefore, it is more detailed than single step income statements. In this case, the accounts included were really few, so the income statement is relatively simple.

3 0

3 years ago

Read 2 more answers