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
rjkz [21]
3 years ago
13

The balance sheet value of a firm's inventory is $50,000. Suppose that the firm purchases supplies at a cost of $4,000 and adds

them to inventory. A day later, the market value of the recently purchased supplies changes to $2,500. Assuming no other changes to inventory, and using the historical cost method, what is the final balance sheet value of inventory?
Business
1 answer:
IRINA_888 [86]3 years ago
5 0

Answer:

$54,000

Explanation:

Since it is given that the inventory of the firm in the balance sheet is $50,000 and the purchase cost of supplies is $4,000 that is added in inventory

Also the market value of the inventory i.e. currently purchased is $2,500

That represents it changes rapidly

So here by using the historical method, the final amount of inventory that should be reported in the balance sheet is

= $50,000 + $4,000

= $54,000

The same is to be considered

You might be interested in
If the span of management is wide, _______ levels are needed, and the organization is _______. If the span of management is narr
creativ13 [48]

Answer:

If the span of management is wide, <u>Fewer</u> levels are needed, and the organization is <u>Flat</u>. If the span of management is narrow, <u>More</u> levels are needed, and the resulting organization is <u>Tall</u>.

Explanation:

Span of control is the number of personals working under a single Designation.

If their are greater number of employees working under a single designation then the hierarchy chart is wider in length, that's the reason we also say that the organization is flat. Due to these increased number of employees working under single designation, there is lower number of levels in such organization. It is also one of the main reason the employees turnover is very high because there are fewer chances of promotion in flat organizations. The number of candidates for the promotion are higher in the organization.

On the other hand, if their are lower number of employees working under a single designation then the hierarchy chart is taller in length, that's the reason we also say that the organization is flat. Due to these lower number of employees working under single designation, there is higher number of levels required in such organizations. It is also one of the main reason the employees turnover is very low because there are higher chances of promotion in tall organizations. The number of candidates for the promotion are fewer in the organization.

8 0
3 years ago
Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.
marta [7]

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

4 0
3 years ago
In what country do the three largest shareholders control, on average, about 60 percent of the shares of a public company?
Kazeer [188]

Answer:

B, Italy

Explanation:

In Italy, 60 percent of the shares of a public company are owned by the 3 largest shareholders. This invariably means that the decision making of public companies are mostly at the mercy of just 3 persons as against larger numbers in other countries.

Cheers

5 0
2 years ago
Discuss the tradeoffs between fiber-optic and satellite communication in terms of costs, signal capacity, signaling method, inte
mylen [45]

Answer:

Explanation:

I will split this answer into two options...

Fiber Optic communications work by sending data through beams of light through a series of fiber cables. This allows for data transfer at incredibly high speeds and with an almost non-existent probability of data loss. Since cables need to be connected from one end-point to another this form of communication becomes more expensive and the capability of reconfiguration becomes incredibly difficult. The likelihood of failure is also very low due to the nature of the technology.

Satellite communication sends data wirelessly by beaming the data to satellites and then back down to the destination. This allows for data to be transferred worldwide but runs into the risk of interference, data loss, signal loss etc. Costs are much cheaper than Fiber Optics due to the lack of wiring. Multipoint capabilities are high since endpoints can be placed anywhere with a clear line of sight to the sky, which also means that reconfiguration capabilities are high as well.

5 0
2 years ago
PLS HELP!! Complete the following sentence.<br> Making sales is the primary mission of a sales___
Doss [256]

Answer:

Salesman

Explanation:

A Salesman, also called a Sales Representative or Salesperson, sells products or services to businesses or consumers. - JH

4 0
3 years ago
Read 2 more answers
Other questions:
  • Presented below are long-term liability items for Lind Company at December 31, 2019.Bonds payable, due 2017 ………….. $600,000Notes
    13·1 answer
  • Period costsSelect one:a. are used to compute product cost.b. are selling costs and administrative costs.c. can be included in o
    14·1 answer
  • An electronic card that stores all the customers info in a chip is
    6·2 answers
  • How do value chains determine business processes and its​ structure??
    8·1 answer
  • Susan is having a bakery in the heart of the city and supplies special type of cheese cookies to all the retail outlets based on
    7·1 answer
  • You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4500 per mont
    5·1 answer
  • A company received a bank statement with a balance of $ 6 comma 000.Reconciling items included a bookkeeper error of $ 300long d
    15·1 answer
  • William won the company contest to devise the most innovative ways to market the company's products. William suggested 40 differ
    11·1 answer
  • Anew Health Care Company reports net income of $210,000 and Depreciation Expense of $24,000 for the year ending December​ 31, 20
    9·1 answer
  • Dawson Manufacturing produces and sells DVD players and is planning to expand sales internationally. Dawson has narrowed down th
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!