1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
slega [8]
3 years ago
12

During the current fiscal year, Jeremiah Corp. signed a long-term noncancellable purchase commitment with its primary supplier.

Jeremiah agreed to purchase $1.5 million of raw materials during the next fiscal year under this contract. At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $1.2 million. What is the journal entry at the end of the current fiscal year?
Business
1 answer:
cricket20 [7]3 years ago
5 0

Answer:

Explanation:

The journal entry is shown below:

Not realized gain or loan A/c Dr $300,000

        To Estimated liability on purchase of raw material $300,000

(Being the difference is recorded)

The difference is computed by

=  Purchase value of raw material - market value of raw material

= $1,500,000 - $1,200,000

= $300,000

You might be interested in
Why is it important to add images charts and graphs into reports? what is important to illustrate reports with visuals?
Maksim231197 [3]
Using visual aids in long reports, which shows a lot of numerical values seems a bit boring, which is why using graphs, charts or any other visual aids aids the audience, which will make it easier for them to review the content of the presentation at the same time, understanding it easily than reading long words and texts.
7 0
3 years ago
Read 2 more answers
Your team has recently experienced some difficulties and setbacks. some of your teammates have expressed their lack of confidenc
jasenka [17]
Had to look for the options and here is my answer.
Based on the given scenario above, I can say that the best tactic that can be applicable in this situation in order to boost your teammates' perception of the team's capability to do well is by allowing time at a team meeting for everyone to openly share their sentiments or complaints. Hope this helps.
6 0
3 years ago
Drum buffers are:
maks197457 [2]

Answer: Extra safety that is applied to a project immediately before the use of the constrained resource.(D)

Explanation:

Drum buffer can be explained as period of time that is used to safeguard the drum resource from the problems that occur from the drum operation.

The aim of the drum buffer effect is to provide a recheck of the work in order not to deviate from the real aim of the project. The buffer makes up for the process variation, and makes the project stable as it gives extra safety which is applied mmediately before using constrained resource.

6 0
3 years ago
The potential advantages of traditional mail surveys are quick response and lower cost than online surveys, but this advantage h
AURORKA [14]

Answer:False

Explanation:

The potential advantage of online surveys are quick response rate and low cost than traditional surveys. This statement contradicts the above stamement.

Online surveys has faster medium to reach the target audience,cost-efficient.These are characteristics of online survey not traditional survey

So therefore it is false

8 0
3 years ago
All of these factors affect supply EXCEPT:
Elanso [62]

Answer:

it is b

Explanation:

because a net worth of a company will mot affect

5 0
2 years ago
Other questions:
  • The _____ serves as the jfc's principal organization to draft the commander's information dissemination policy and coordinates i
    13·1 answer
  • 19.
    9·1 answer
  • HURRY PLZ LOTS OF POINTS!!!!!!
    7·2 answers
  • On December​ 31, Year​ 10, Brown Company changed its inventory valuation method from the​ weighted-average method to FIFO for fi
    9·1 answer
  • Samantha, a famous artist, has a contract with Alec to paint his portrait for $6,000. Samantha is very busy and wants to delegat
    8·1 answer
  • Under LIFO, net income exists if revenues are sufficient to cover the __________ cost of the units of inventory sold, provided n
    6·1 answer
  • Resort Hotel Company replaces Sharon, a forty-five-year-old employee, with Terry. Sharonfiles a suit against the employer under
    5·1 answer
  • Explain The Goal For Finance
    13·1 answer
  • A firm has net working capital of $440, net fixed assets of $2,186, sales of $5,500, and current liabilities of $750. How many d
    5·1 answer
  • The effect on existing deferred income tax accounts when a change in the tax rate is enacted into law should be Group of answer
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!