Answer:
$20,000
Explanation:
Calculation for What amount should Valet report in its 2021 income statement for unrealized holding loss
Using this formula
2021 income statement for unrealized holding loss=Aggregate cost -Aggregate Fair value
Let plug in the formula
2021 income statement for unrealized holding loss=$ 180,000-$ 160,000
2021 income statement for unrealized holding loss=$20,000
Therefore the amount that Valet should report in its 2021 income statement for unrealized holding loss is $20,000
Foreign portfolio investment, which is simple people in one country investing in the assets of another country.
All of them are the non-manufacturing business where process costing would most likely be used.
Explanation:
- All are non-manufacturing business which are as follows,
- An auto body shop.
- A furniture repair shop.
- A laboratory that tests water samples for lead A tailoring shop.
- A beauty shop.
- Non-manufacturing business costs refers to those business where it is incurred outside the factory or production unit
- Non-manufacturing costs includes,
- selling expenses
- general expenses
- Selling Expenses
- It is also called as selling and distribution expenses.
- Non-manufacturing expenses have no impact on the production cost of the company due to their period costs.
Answer: a. Accounts Receivable
Explanation:
The Direct Write-off method is usually used by businesses where Uncollectible Receivables are not common. This way when it does occur, they simply debit the Bad Debts accounts and credit the Accounts Receivables to show the event.
This method of Accounting violates the Matching Principle under the Accrual basis because it usually does not recognize bad debts in the same period that the inventory was sold. It only records bad debts when they are declared which could be periods afterwards.
For the Age Discrimination in Employment Act to apply Lomax must be forty years of age or older.
<h3>
What is Age Discrimination in Employment Act?</h3>
- Age discrimination against anyone over the age of 40 is prohibited by the Age Discrimination in Employment Act (ADEA).
- It does not cover workers under the age of 40, while some states have legislation prohibiting age discrimination against younger workers.
- Certain applicants and employees 40 years of age and older are protected from age discrimination in hiring, promotion, discharge, salary, or terms, conditions, or privileges of employment under the Age Discrimination in Employment Act of 1967 (ADEA).
- If a company promotes ageism in the workplace, it is likely to observe a decrease in productivity and an increase in attrition.
- A business with low morale and an inability to retain a steady workforce has little prospect of long-term success.
Therefore, for the Age Discrimination in Employment Act to apply Lomax must be forty years of age or older.
Know more about Age Discrimination in Employment Act here:
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The correct question is given below:
Kyla replaces Lomax in his job at Motor Vehicle Manufacturing Corporation (MVMC).
Refer to Fact Pattern 18-1. Lomax believes that he has been discriminated against on the basis of his age. For the Age Discrimination in Employment Act to apply
