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3 years ago

On the basis of the following data, determine the value of the inventory at the lower of cost or market.

Business

1 answer:

vlabodo [156]3 years ago

3 0

Answer:

The computation is shown below:

Explanation:

The computation is shown below:

Product Total Cost Total Market Lower of Total Cost or Total Market

A $1,368 $1,248 $1,248

($171 × 8 units) ($156 × 8 units)

B $10,300 $9,150 $9,150

($206 × 50 units) ($183 × 50 units)

C $11,454 $10,856 $10,856

($249 × 46 units) ($236 × 46 units)

D $5,530 $4,795 4,795

($158 × 35 units) ($137 × 35 units)

E $9,452 $10,064 $9,452

($278 × 34 units) ($296 × 34 units)

Total $35,501

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Which information would most likely cause a company's stock price to go up?

Andrei [34K]

Answer:

Explanation:

consumers reduce spending because of a recession

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3 years ago

All of the following statements related to preparation of the statement of cash flows under U.S. GAAP and IFRS are true except:

iVinArrow [24]

Answer: IFRS permits the classification of cash outflows for interest expense under operating or financing based on which one results in better cash flows from operating activities.

Explanation: The cash flow statement includes only inflows and outflows of cash and cash equivalents; it excludes transactions that do not directly affect cash receipts and payments. These non-cash transactions include depreciation or write-offs on bad debts or credit losses to name a few.

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3 years ago

Explain how a consumer’s place of residence has an especially large impact on their purchase of sports and entertainment commodi

ElenaW [278]

Answer:

Concept: Business digression

Lets assume you live in Los Angeles CA
LA houses the Lakers, dodgers, and so many more big brand teams.

A consumer which is defined as any person in a free and open market to openly trade their wealth and income in return for an item or service.
Residence defined as the area that surrounded the immediate perimeter of the said consumer.
Hence, by the principle of socialization people are more inclined to buy sports gear to represent their teams and inclined to participate in consumer purchases based on their peers.
It becomes the "lifestyle" and "ideal" personalities in a place such as LA and this inherently drives up sales of sports and entertainment commodities.
The location, or residence directly exposes the consumer to the products in a market where it "hot" and in style/demand.
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8 0

3 years ago

On January 1, 2021, NRC Credit Corporation leased equipment to Brand Services under a finance/sales-type lease designed to earn

xeze [42]

Answer:

1. Jan. 1, 2021

Dr Right-of-use Asset $417,665

Cr Lease Liability $417,665

Jan. 1, 2021

Dr Lease Liability 61,000

Cr Cash 61,000

Dec. 31, 2021

Dr Lease Liability $25,870

Dr Interest Expense 35, 130

Cr Cash 61,000

Dec. 31, 2021

Dr Amortization Expense $41,230

Cr Right-of-use Asset $41,230

2. Jan. 1, 2021

Dr Lease Receivable $610,000

Cr Sales Revenue $610,000

Jan. 1, 2021

Dr Cash $61,000

Cr Lease Receivable $61,000

Dec. 31, 2021

Dr Cash $61,000

Cr Lease Receivable $61,000

Explanation:

1. Preparation of the appropriate entries for the lessee related to the lease on January 1, 2021 and December 31, 2021.

Jan. 1, 2021

Dr Right-of-use Asset $417,665

Cr Lease Liability $417,665

(To record lease)

Jan. 1, 2021

Dr Lease Liability 61,000

Cr Cash 61,000

(To record lease payment)

Dec. 31, 2021

Dr Lease Liability $25,870

($61,000-35,130)

Dr Interest Expense 35, 130

Cr Cash 61,000

(To record lease payment)

Dec. 31, 2021

Dr Amortization Expense $41,230 (412,300/10)

Cr Right-of-use Asset $41,230

(To record amortization)

2. Preparation of the appropriate entries for the lessor related to the lease on January 1, 2021 and December 31, 2021.

Jan. 1, 2021

Dr Lease Receivable $610,000

Cr Sales Revenue $610,000

($61,000*10)

(To record lease payment)

Jan. 1, 2021

Dr Cash $61,000

Cr Lease Receivable $61,000

(To record cash received)

Dec. 31, 2021

Dr Cash $61,000

Cr Lease Receivable $61,000

(To record cash received)

3 0

3 years ago

Question 1

Alex73 [517]

Answer:

Command

Explanation:

In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.

The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.

4 0

3 years ago