Answer:
See explanation section
Explanation:
Give
The cost value for each of the inventory item is as follows:
Product Cost Price
D $88
E $94
F $94
G $94
H $59
I $42
Now, we determine the net realizable value for each of the product:
Net Realizable Value = Selling price - Cost to compete - Selling costs
Product Net Realizable Value
D $93
E $73
F $70
G $41
H $82
I $47
Now, using the LCNRV (Lower of cost or Net Realizable Value) rule, the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items -
Product LCNRV
D $88
E $73
F $70
G $41
H $59
I $42
Answer:
(a) What was the total of accounts written off during the first 11 months?
bad debts written for the first 11 months = allowance for bad debt accounts January 1 balance + bad debt expense - allowance for bad debt accounts November 30 balance = $13,085 + $21,937 - $9,919 = $25,103
(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $
to determine the amount of bad debt expense that must be adjusted, we must subtract the estimated balance in December 31 from the balance in November 30 = $9,919 - $9,450 = $469. Since the November 30 amount is larger, it means that we over estimated our bad debt expense and it must be reduced:
Dr Allowance for doubtful accounts 469
Cr Accounts receivable 469
The action that Anita would have to take for the result of the foreclosed sale would be to Make a positive adjustment to the sales price of the foreclosed home.
<h3>What is a house appraisal?</h3>
This is the term that is used to refer to the unbiased opinion that Anita is going to have about this house. It is based on her professional opinion. The appraisal is required when there is a need to buy a property or to sell one.
In this question the action that has to be taken would be to Make a positive adjustment to the sales price of the foreclosed home.
Read more on appraisals here:
brainly.com/question/7595736
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Answer:
c.represents what a share of stock is worth
Explanation:
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