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agasfer [191]
3 years ago
13

A consistent application of an inventory costing method enhances

Business
1 answer:
ICE Princess25 [194]3 years ago
4 0

C. Comparability.<span> A consistent application of an inventory costing method enhances comparability. Consistency enhances comparability because it enables investors and other end users of the financial statements to compare and understand the financial reports over the periods. The company should disclose the nature, reasons and effects of the change in the Notes to the Financial Statements if there is a change of accounting method for inventory costing to improve financial reporting.</span>

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Andy, a junior in high school, is considering his options for employment following graduation. His uncle, a master electrician,
mojhsa [17]

Answer:

Andy should look and identify his field of interest before choosing a specific career path. If she has none of preferences for his career choice then se can look for other factors to select specific career path.

Explanation:

Andy's grandfather has spend his life in building trades and he is a successful person. He thinks Andy should choose same career path as he did and he can be successful too but this is not the case. The thing can be different in this era, the preferences and nature of Andy might be different from his grand father. There are many others factors which also need to be considered as the job security, learning potential in the field, progress in career, wages and pay rise, working environment and others.

3 0
3 years ago
Which of the following is an example of a problem with logistics?
Bess [88]
<span>A: Two business partners have opposing visions for how a company should grow.</span>
3 0
3 years ago
Read 2 more answers
On january 3, 2013, persoff corporation acquired all of the outstanding voting stock of sea cliff, inc. In exchange for $6,000,0
konstantin123 [22]

Answer:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

Explanation:

Because the data is not completely provided a general idea is provided here:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

3 0
3 years ago
First National Bank charges 13.6 percent compounded monthly on its business loans. First United Bank charges 13.9 percent compou
melomori [17]

Answer:

First National EAR 14.48%

First United EAR 14.38%

Explanation:

Calculation to determine Calculate the EAR for First National Bank and First United Bank.

Using this formula

EAR = [1 + (APR / m)]m − 1

Let plug in the formula

First National EAR = [1 + (.136 / 12)]12 − 1

First National EAR= .1448*100

First National EAR=14.48%

First United EAR = [1 + (.139 / 2)]2 − 1

First United EAR = .1438*100

First United EAR = 14.38%

Therefore the EAR for First National Bank and First United Bank will be :

First National EAR 14.48%

First United EAR 14.38%

8 0
3 years ago
The following balance sheet for the Hubbard Corporation was prepared by the company:
crimeas [40]

Answer:

    HUBBARD CORPORATION

             Balance Sheet

        At December 31, 2021

<u>Assets</u>

Current assets:

Cash $63,000

Accounts receivable (net) $126,000

Inventory $163,000

Short term investments - AFS securities $23,000

Total current assets: $375,000

Investment in equity securities $43,000

Patent (net) $103,000

Machinery $283,000

Assets Buildings $753,000

Accumulated depreciation ($258,000)

Land $186,000

<u>Total assets $1,485,000 </u>

<u>Liabilities and Shareholders' Equity</u>

Current liabilities:

Accounts payable $218,000

Current portion of long term debt $32,500

Total current liabilities: $250,500

Notes payable 473,500

Common stock (authorized and issued 103,000 shares of no par stock) $412,000

Retained earnings $349,000

<u>Total liabilities and shareholders' equity $1,485,000</u>

Explanation:

1. The buildings, land, and machinery are all stated at cost except for a parcel of land that the company is holding for future sale. The land originally cost $53,000 but, due to a significant increase in market value, is listed at $126,000. The increase in the land account was credited to retained earnings.

Dr Retained earnings 73,000

    Cr Land 73,000

Assets must be reported at historical cost.

2. The investment in equity securities account consists of stocks of other corporations and are recorded at cost, $23,000 of which will be sold in the coming year. The remainder will be held indefinitely.

Dr Short term investments - AFS securities 23,000

    Cr Investment in securities 23,000

It doesn't change the value of the assets, it just organizes them properly.

3. Notes payable are all long term. However, a $130,000 note requires an installment payment of $32,500 due in the coming year.

Dr Notes payable 32,500

    Cr Current portion of long term debt 32,500

4. Inventory is recorded at current resale value. The original cost of the inventory is $163,000.

Dr Inventory change 83,000

    Cr Inventory 83,000

Inventory must be recorded at lesser of cost or market value.

3 0
3 years ago
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