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Gwar [14]
2 years ago
6

The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was model

ed after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments to
Business
1 answer:
salantis [7]2 years ago
3 0

Answer:

The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was modeled after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments:

- to give up control over monetary policy.

- to have a sound fiscal situation.

- to have a high degree of price stability.

- to be democratic in nature.

- to have stable exchange rates

Explanation:

BERPHO is an example of an economic union, where the fourteen member countries reached a level of economic integration, which means having a common currency, comprehensive harmonized tax rates, and a common monetary and fiscal policy.

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Calculate the cost of goods sold using the following information: Direct materials $ 298,500 Direct labor 132,000 Factory overhe
Virty [35]

Answer:

COGS= $680500

Explanation:

The cost of goods sold refers to the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce the goods. It excludes indirect expenses, such as distribution costs and sales force costs.

COGS=Beginning Inventory+Production during period−Ending Inventory

We need to calculate the production during the period.

Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress

Cost of manufactured period= 118,500+ 298,500 + 132,000  + 264,000 - 125,900 =$687,100

COGS= 232,100 + 687,100 - 238,700=$680500

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2 years ago
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Is it important to build a relationship with your customer. In the first few seconds after you notice the customer;s arrival
konstantin123 [22]
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3 years ago
On January 1, Year 1, Bell Corp. issued $180,000 of 10-year, 6 percent bonds at their face amount. Interest is payable on Decemb
lara [203]

Answer:

Journal entries on January 1,year 1:

Dr Cash                     $180,000

Cr bonds payable                       $180,000

Journal entries on 31st December year 1:

Dr interest expense          $10,800

Cr Cash                                            $10,800

Journal entries on 31st December year 2:

Dr interest expense          $10,800

Cr Cash                                            $10,800

Explanation:

Since the bonds were issued at par ,it means the cash realized from the issuance is $180,000 which would debited to cash account and credited to bonds payable account.

On 31st December ,year 1 the first interest is paid which is calculated thus:

$180,000*6%=$10,800

The $10,800 is debited to interest expense account and credited to cash(or to interest payable if cash is not paid immediately)

On 31st December ,year 2 the first interest is paid which is calculated thus:

$180,000*6%=$10,800

The $10,800 is debited to interest expense account and credited to cash(or to interest payable if cash is not paid immediately)

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The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation.
Ne4ueva [31]

Answer:

<u>Valley Pump Corporation</u>

<u>Classified balance sheet as at December 31, 2021.</u>

Assets

<u>Non-Current Assets</u>

Investment in equity securities                                                 39,000

Land                                                                                            117,000

Land Held for Sale                                                                      37,000

Buildings                                                              385,000

Accumulated depreciation—buildings               (117,000 )     268,000

Equipment                                                            109,000

Accumulated depreciation—equipment            (42,000 )       67,000

Copyright (net)                                                                          29,000

Total Non-Current Assets                                                       557,000

<u>Current Assets</u>

Inventory                                                                                   115,000

Investment in equity securities                                                39,000

Accounts receivable                                            90,000

Less Allowance for uncollectible accounts         (7,000)       83,000

Prepaid expenses                                                                    49,000

Cash                                                                                          42,000

Total Current Assets                                                              328,000

Total Assets                                                                            885,000

Equity and Liabilities

<u>Equity</u>

Common stock                                                                      370,000

Retained earnings                                                                   34,000

Total Equity                                                                           404,000

<u>Liabilities</u>

<u>Non Current Liabilities</u>

Notes payable                                                                      201,000

Total Non Current Liabilities                                               201,000

<u>Current Liabilities</u>

Notes payable                                                                      134,000

Interest payable                                                                     27,000

Accounts payable                                                                  82,000

Deferred revenue                                                                  37,000

Total Current Liabilities                                                       280,000

Total Liabilities                                                                      481,000

Total Equity and Liabilities                                                  885,000

Explanation:

A Balance Sheet shows the Assets, Liability and Equity balances as the the Reporting date.

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