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Amanda [17]
4 years ago
5

At the end of the year, inventory has a cost of $200,000 and a net realizable value of $195,000 due to normal business circumsta

nces. Prepare the year-end adjusting entry, if any, for inventory using the lower of cost or net realizable value approach. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
pishuonlain [190]4 years ago
4 0

Answer:

The answer is given below;

Explanation:

The adjusting entry will be;

Income Statement             Dr.$5,000

Inventory                             Cr.$5,000

As the NRV is less than cost,therefore difference amount will be charged to profit and loss account.

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Management of Lewallen Corporation has asked your help as an intern in preparing some key reports for September. Direct material
madreJ [45]

Answer:

The prime cost for september is $100,000.

Explanation:

prime cost = Direct material cost + Direct labour cost

                  = $57,000 + $43,000

                  = $100,000.

Therefore, the prime cost for september is $100,000.

7 0
3 years ago
A shoe manufacturer sells high-end designer shoes to wholesalers who, in turn, sell a variety of shoes and other leather accesso
natulia [17]

Answer: B. Indirect channel

Explanation: The channel of distribution is defined as a network of organizations that connect the producer/manufacturer of goods and services with the end-users or consumers of those goods or services. By employing the services of wholesalers and retailers, the shoe manufacturer is using the indirect channel of distribution, specifically the two-level channel (Manufacturer to Wholesaler to Retailer to Customer). Also known as selling to intermediaries, it involves wholesalers buying the bulk of goods from the manufacturers, then selling to retailers (after breaking them down into small packages) who eventually sell it to the end customers.

8 0
4 years ago
Titchener opposed the development of areas such as child psychology and animal psychology because psychology should instead be i
weqwewe [10]

Answer:

The correct answer is: these areas did not focus on discovering the structures of mind.

Explanation:

Titchener put aside child psychology and animal psychology, separating them from the main body, which we saw Wundt did not do. Titchener did not deny the study of the behavior of children and animals provided valuable information; rather, he denied that the information provided was psychological.

Titchener not only maintained that psychology should be experimental, it also held that it should be pure.

As he saw it, scientists had to stay out of considerations about the practical value of what they are doing. Consequently, I never accept that works on individual differences made by Cattell and others were an important contribution to psychology. I approve of the notion that the function of psychology was the search for means to help sick minds. He denied in a caustic way the possibility of someone becoming a psychologist through a defective untrained self-examination process.

4 0
3 years ago
Robert gillman, an equity research analyst at Gillman Advisors, believes in efficient markets, He has been following the mining
antoniya [11.8K]

Answer:

Q1) a. 6.60%

Q2) c. retaining a higher percentage of earning will result in a higher growth rate.

Explanation:

Q1.)

Use dividend discount model (DDM) to solve for the growth rate;

g = r- (D1/P0)

whereby;

g = dividend growth rate

r = required rate of return = 11.40% or 0.1140 as a decimal

D1 = next year's dividend = $1.14

P0 = Current stock price = $23.75

g = 0.1140 - (1.14/23.75)

g = 0.1140 - 0.048

g = 0.066 or 6.6%

Therefore, the growth rate is 6.60%, making choice A correct.

Q2.)

c. Retained earning is the proportion of total net profit that a company reinvests back into the business for the purpose of investing in other potentially profitable projects.The returns from these projects would increase the value of the company at a faster rate if a higher percentage e.g 90% is retained. On the other hand, if the company pays a larger portion of its retained earnings e.g 70% as dividends, it will experience a slower growth rate making choice C correct.

5 0
3 years ago
When deciding how to invest your money, which of the following is LEAST important to know?
Mumz [18]

Answer:

Probably the least important thing to know is whether you can make online deposits or not.

Explanation:

3 0
3 years ago
Read 2 more answers
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