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3 years ago

5

Which one of the following is a source of cash? Select one: A. Decrease in inventory B. Increase in fixed assets C. Decrease in

accounts payable D. Decrease in common stock E. Increase in accounts receivable

1 answer:

FromTheMoon [43]3 years ago

4 0

Answer:

A. Decrease in inventory

Explanation:

A decrease in inventory means that inventory is being sold therefore there is consequently a increase in cash.

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ane is planning to offer a Groupon for inner tube rentals that she will distribute on hot, sunny, summer days by the river that

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Probability assigned:|

x 30 60 120 180

P(x) .10 .40 .40 .10

Answer:

Jane

Price of Groupon for a revenue of $300 is:

$3

Explanation:

a) Data and Calculations:

Expected Sales volume:

Number of Tubes x 30 60 120 180

Probability P(x) .10 .40 .40 .10

Expected values 3 24 48 18

Total = 93 tubes

Groupon price = $300/93 = $3.23

b) Jane's price for each Groupon will be the rent revenue per day divided by the expected number of tubes to rent daily. The expected number of tubes is derived by multiplying each expected number of tubes by its probability and then summing up the results.

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3 years ago

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31,

Soloha48 [4]

Answer:

Answer for the question:

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.

is given in the attachment.

Explanation:

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3 years ago

X-Mart purchased $300 of merchandise and paid immediately. Demonstrate the journal entry to record this transaction, assuming th

tangare [24]

Answer:

See explanation Section

Explanation:

The journal entry to record the purchase of merchandise -

Merchandise Inventory Debit $300

Cash Credit $300

Note: As the perpetual inventory shows the running inventory of cost of goods available for sale. Therefore, every purchase of merchandise will directly debit the merchandise inventory and not the purchase account. Since the company paid immediately, cash decreased.

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4 years ago

Sheffield Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution.

vlabodo [156]

Answer:

SHEFFIELD LABORATORY

PATENT (NO. 78-6002-1A)

Carrying value as at Dec 31

2011 2015 2018

Cost $182,300 $349,000 $385,000

Amortization <u> (10,724) </u> <u>(79,433) </u> <u>(142,403)</u>

<u> 171,576 </u> <u> 269,567 </u> <u>242,597</u>

Cost

As at 31 Dec 2011

Design and construction of a prototype $89,000

Testing of models 40,600

Fees paid engineers and lawyers to prepare application <u> 52,700</u>

<u>$182,300</u>

As at 31 Dec 2012

Cost as at Jan 1, 2012 $182,300

Additional cost during the year:

Engineering activity necessary to advance. <u> $84,500 </u>

<u>$266,800</u>

As at 31 Dec 2013

Cost as at Jan 1, 2013 $266,800

Additional cost during the year:

legal fee paid <u>$40600 </u>

<u> $307,400</u>

As at 31 Dec 2014

Cost as at Jan 1, 2013 $307,400

Additional cost during the year:

Research aimed at modifying the design <u>$41,600 </u>

<u> $349,000</u>

As at 31 Dec 2018

Cost as at Jan 1, 2018 $349,000

Additional cost during the year:

legal fee paid in unseccesful patent infrigement. <u> $36,000 </u>

<u>$385,000</u>

Amortization for the year

Dec 31 2011 $182,300/17 = $10,724

Dec 31 2012

182,300/17 10,724

84,500/0 <u> - </u>

<u> 10,724</u>

<u />

Dec 31 , 2013 :

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/0 = <u> - </u>

<u> 16,005</u>

Dec 31 2014 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = <u> 2,447</u>

<u> 20,990</u>

Dec 31 2018 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

36,000/0 = <u> -</u>

<u> 20,990</u>

Explanation:

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frez [133]

Earnings on an IRA grow until C. you take the money out.

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3 years ago