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lbvjy [14]
3 years ago
15

According to the FASB conceptual framework, certain assets are reported in financial statements at the amount of cash or its equ

ivalent that would have to be paid if the same or equivalent assets were acquired currently. What is the name of the reporting concept?
Business
1 answer:
Crank3 years ago
3 0

Answer:

Replacement cost

Explanation:

According to the Financial Accounting Standards Board (FASB), if the amount is paid for acquiring or purchasing the asset or replacing the asset the cost we called is known as replacing cost

The replacing cost arises when the company needs a more valuable asset than the previous one which produces a less number of items instead of producing more items.

So, according to the given situation, the replacement cost is an appropriate answer

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A company’s total monthly sales (in millions of dollars) t months from now are given by:
Elina [12.6K]

Answer:

a) \frac{dS}{dt}=S'(t)= 2(0.5) t +3 = t+3

b) S(4) = 0.5*(4^2) +3(4) -5=15 million

c) For this case we have the total sales $ 15 millions after t =4 months

d) S'(4) = 4+3 = 7 million

e) This value represent the increase in the amount of sales in millions after t=4 months

Explanation:

For this case we have the following function for the sales

S(t) = 0.5 t^2 +3t -5

Part a          

For this case we want to find the derivate of S respect to t and we got:

\frac{dS}{dt}=S'(t)= 2(0.5) t +3 = t+3

Part b

For this case we want to find the value of S when t = 4 so if we replace we got:

S(4) = 0.5*(4^2) +3(4) -5=15 million

Part c

For this case we have the total sales $ 15 millions after t =4 months

Part d

For this case we just need to replace t=4 in the derivate and we got:

S'(4) = 4+3 = 7 million

Part e

This value represent the increase in the amount of sales in millions after t=4 months

3 0
3 years ago
The general willingness of consumers to purchase a product at various prices is __________.
Wittaler [7]
Demand.

If you found this especially helpful, I'd appreciate if you'd vote me Brainliest for your answer. I want to be able to assist more users one-on-one, as well as to move up in rank! :)
4 0
3 years ago
On April 1, 2016, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $57,200, ha
Harman [31]

Answer:

2016 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

2017 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

Journal entries for 2018 expenditure

Dr repairs and maintenance   $2900

Dr Equipment account             $11850

Cr Cash account                                          $14750

2018 Depreciation

Dr depreciation expense          $4800.83

Cr Accumulated depreciation                     $4800.83

Explanation:

There are two policies for depreciating non-current asset  especially when it is acquired part-way through the year like we have here, namely full year depreciation in the year of purchase and none in the year of disposal or proportional depreciation throughout the useful life,I am adopting the former in this question.

Formula for depreciation=cost-residual value/useful life

Yearly depreciation is ($57200-$0)/10=$5720

However,after two years the book value is calculated thus:

Book value=$57200-($5720*2)=$45760

additional cost incurred in enhancing the capacity of the asset would be added :  $45760 +$11,850=$57610

Since the useful life has also been reviewed up to 12 years, the depreciation from now on is $57610/12=$4800.83

5 0
3 years ago
Read 2 more answers
A company is currently selling 10,000 units of product monthly for $40 per unit. The unit contribution margin is $27. The compan
Ludmilka [50]

Answer:

The company should accept the idea because profit will increase by $24,000.

Explanation:

A company is currently selling 10,000 units of product monthly for $40 per unit.

The unit contribution margin is $27.

The company believes that spending $50,000 per month on advertising will allow them to increase the selling price to $45 and that sales will increase by 750 units per month.

The unit contribution margin is the difference between selling price and variable cost per unit.

An increase in the selling price of $5 will cause the contribution margin to increase by $5, from $27 to $32.

Profits is the product of contribution margin and number of output.

At initial price, the profit was

= 10,000\ \times\ \$ 27

= $270,000

At the new price the profit will be

= 10,750\ \times\ \$ 32  - $50,000

= $344,000 - $50,000

= $294,000

The increase in profit

= $294,000 - $270,000

= $24,000

3 0
3 years ago
If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment ra
fenix001 [56]

If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment rate equals 9%.

<h3>What is the unemployment rate?</h3>

The unemployment rate is the percentage of the labour force that is unemployed.

The unemployment rate = (number of unemployed people / total labour force) x 100

Total labour force = 200 million + 20 million = 220 million

(20 / 220) x 100 = 9%

To learn more about unemployment, please check: brainly.com/question/10940465

#SPJ1

5 0
2 years ago
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