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
Inessa [10]
3 years ago
15

The balance sheet value of a firm's inventory is $60,000. Suppose that the firm purchases supplies at a cost of $3,500 and adds

them to inventory. A day later, the market value of the recently purchased supplies changes to $1,000.
Assuming no other changes to inventory, and using the historical cost method, what is the final balance sheet value of inventory?
Note: Students with prior accounting experience should not apply the monthly "lower of cost or market" adjustment. This is a day-to-day fluctuation.
Business
1 answer:
Andreyy893 years ago
3 0

Answer:

$63,500

Explanation:

Calculatuon to determine the Final balance sheet value of inventory using the historical cost method

Using this formula

Final balance sheet value of inventory=Balance sheet value of firm's inventory+Supplies

Let plug in the formula

Final balance sheet value of inventory= $60,000+$3,500

Final balance sheet value of inventory= $63,500

Therefore Final balance sheet value of inventory is $63,500

You might be interested in
Read the following scenario: A contributing member of a project is out sick. Identify the possible risks to the project. Busines
Elodia [21]

It's the last one, "Timeline and resources"

3 0
4 years ago
Read 2 more answers
Forsyth County charges a 7% sales tax. If you bought a new printer form $3250.00, what is the total cost for the printer?
iren2701 [21]

Answer:

Total cost = $3477.5

Explanation:

Given the following data;

Sales tax = 7%

Cost price = $3250.00

To find the total cost for the printer;

First of all, we would determine the sales tax

Sales tax = 7/100 * 3250

Sales tax = 7 * 32.5

Sales tax = $227.5

Now, we can find the total cost;

Total cost = sales tax + cost price

Total cost = 227.5 + 3250

Total cost = $3477.5

5 0
3 years ago
The positive relationship between price and quantity supplied, other things being equal, is considered to be:________
Bas_tet [7]

Answer:

The answer is D.

Explanation:

The correct answer is D. universally true for all markets

Other things being equal, as the price of goods and services increase, producers/firms tend to produce more(this is the popular law od supply) inorder to take advantage of the high revenue.

Unlike demand, for supply, price and quantity supplied are directly related.

4 0
3 years ago
Good Firm is highly profitable and will grow rapidly in the future. Bad Firm faces the same risks but barely makes a profit and
RideAnS [48]

Answer: B.both stocks are equally good investments

Explanation:

The options are;

A.it is better to buy shares in Bad Firm

B.both stocks are equally good investments

C.it is better to buy shares in Good Firm

D.both stock prices react equally to the same information

From the question, we are informed that Good Firm is highly profitable and will grow rapidly in the future while Bad Firm faces the same risks but barely makes a profit and will not grow at all. It should be noted that In an efficient market, both stocks are equally good investments.

3 0
3 years ago
What's the advantages of ms word ?​
mash [69]

Answer:

MS WORD IS A MULTI PURPOSE WORD PROCESSOR WHICH HELPS IN CREATING

  • BROCHURES
  • LETTERS
  • GREETING CARDS etc.
<h2><u>please</u><u> </u><u>follow</u><u> </u><u>me </u><u>and </u><u>mark </u><u>it </u><u>brainliest</u></h2>
6 0
3 years ago
Read 2 more answers
Other questions:
  • Hunters should teach others, work with landowners, and cooperate with game wardens. these efforts are part of what makes a hunte
    11·1 answer
  • Assume that you own an investment that will pay you $15,000 per year for 12 years, with the first payment today. You need money
    9·1 answer
  • A Lorenz curve measures the ________ on the vertical axis.cumulative percentage of money incomecumulative percentage of family w
    6·1 answer
  • Facing stiff competition in the e-reader market, Sumac Industries wants to protect its competitive advantage by increasing the p
    13·1 answer
  • Game theory:
    8·1 answer
  • Walter is the manager of sales operations at Woode Industries. He has to define the sales goals for the forthcoming financial ye
    14·1 answer
  • Of the 141 companies on the list, jason chose to survey only 75 of them. he sent surveys to both small as well as large companie
    8·1 answer
  • Brainliest ASAP helppppp please
    13·2 answers
  • Explain fayols 14 principle of management in any organization
    5·1 answer
  • What sup i am newwwwwww
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!