One of the primary reason for this problem is because the
information has been trapped in data silos. In which, a data silos is being
defined as a set of files that are separated or not part of the organization’s
data administration and by this, it could be the main reason as to why the
health care organizations are experiencing the following experiences.
Answer:
loss at extinguishment 8,122.50 dollars
Explanation:
we should compare the amount we pay for the bonds and the book value of the bonds:
book value 978,877.50*
call price <u> (987,000.00) </u>
loss (8,122.50)
*We are given with the value at January 1st we must adjust for the value at july 1st using effective-rate method
970,500 x 11%/2 = 53,377.5 interest expense
1,000,000 x 9%/2 = 45,000 cash outlay
amortization 8,377.5
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<em><u>carrying value:</u></em>
970,500 + 8,377.5 = 978,877.5
Answer:
$2
Explanation:
Given that
The fixed cost = $100
Cost on wool if 10 sweater are made in a month = $15
Cost on wool if 11 sweater are made in a month = $17
Since it involves no other cost
So, the marginal cost of the eleventh sweater is
= Cost on wool when 11 sweater made in one month - Cost on wool when 10 sweater made in one month
= $17 - $15
= $2
The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 26,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. ... Units completed in the forming department are transferred to the painting department.
Answer:
Dr Retained earnings $8.2
Cr Inventory $8.2
Explanation:
By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.
$32-$23.8= $8.2 million
To record the said adjustment you have to
Debit Retained earnings and credit Inventory in the amount of $8.2 million.
