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larisa [96]
3 years ago
10

As of year-end, June Company had three different inventory items in its ending inventory. June had 10 units of each item on hand

. The unit cost, replacement cost, expected selling price, estimated disposal and completion costs, and normal gross profit as a percentage of expected selling price follow: Item A: $10, $9, $20, $2, 50% Item B: $30, $32, $50, $4, 30% Item C: $50, $48, $90, $0, 40% June uses a LIFO costing method. By what amount will June write-down its inventory?
Business
1 answer:
Tomtit [17]3 years ago
8 0

Answer:

$10

Explanation:

unit cost, replacement cost, expected selling price, estimated disposal and completion costs, and normal gross profit as a percentage of expected selling price follow

Item A: $10, $9, $20, $2, 50%

Item B: $30, $32, $50, $4, 30%

Item C: $50, $48, $90, $0, 40%

I used an excel spreadsheet to calculate the value of ending inventory using the lower of cost or market value. The ending inventory = $890, while the purchase cost = $100 + $300 + $500 = $900

the inventory should be written down by $10

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Cleoca is considering renting a car for the weekend. The weekend daily rate is
irina [24]

Answer:

$119.97

Explanation:

Given,

The weekend daily rate for the rental cost = $39.99

Total number of days = Friday morning, Saturday, and Sunday = 3 days

The rental cost for renting Cleoca's car for the weekend = Number of weekend days × the weekend daily rate for the rental cost

The rental cost = $39.99 × 3 days

The rental cost = $119.97

Therefore, her rental cost for renting the car is $119.97 for the weekend.

8 0
3 years ago
Read 2 more answers
ou manage an equity fund with an expected risk premium of 10% and a standard deviation of 14%. The rate on Treasury bills is 6%.
serg [7]

Answer:

Reward to volatility ratio = 0.71

Explanation:

Given the expected risk premium = 10%

Standard deviation = 14%

The rate on treasury bills = 6%

The investment amount  that the client chooses to invest  = $60000

Expected return of equity = the expected risk premium  + The rate on treasury bills

Expected return of equity = 10% + 6% = 16%

Standard deviatin = 14%

Reward to volatility ratio = (expected return - risk free rate) /standard deviation

Reward to voltality ratio = (16% -6%)/14%

Reward to voltality ratio = 0.71

4 0
3 years ago
During 2018, the cash flows related to Global Data, Inc.'s lending and borrowing activities are summarized as follows:
const2013 [10]

Answer:

-$144,000

Explanation:

Cash flow from financing activities

Payment to retire bonds payable -$361,500

Proceeds from borrowing at bank (note payable) $217,500

Net cash used by financing activities -$144,000

The payment made to retired bond payable reflects the outflow of cash so we deducted it and the borrowing at bank is a cash inflow so we added it

And, the rest items are not relevant. Hence, ignored it

7 0
3 years ago
You are concerned about a matter that has federal implications and is tremendously important in your city. You would like
Fittoniya [83]

Answer:

An example of a bill title could be

"A Act concerning the safety of public spaces"

Explanation:

If you're taking the time to write a bill then you must be concerned about a public issue so you would ask a member of congress (a representative or senate) to see to it that the bill is drafted.

The Bill is drafted by parliamentary draftsmen, who are lawyers skilled in drafting Bills. They ensure that the Bill is clear and unambiguous (unambiguous meaning that the bill is addressing a particular issue and the bill is clear and concise).

Steps in introducing a bill

(1) Creating the Bill

Members of the House of Representatives introduce or sponsor a bill after the bill has been drafted by parliamentary craftsmen. For the house of Representatives, the representative clerk assigns a number to the bill and for the senate a senate clerk assigns a number to the bill.

(2) Commitee Action

A committee is assigned to study the bill after it has been introduced. Commitees are assigned according to their functions , for example if a bill is about fire outbreaks, the committee in charge of fire hazards is assigned to look into the bill. Often a committee will refer the bill to one of its subcommittees. The subcommittee may request reports from government agencies. Experts and interested parties have an opportunity to offer testimony regarding the issue.

After all these are done, the full committee may make a recommendation to pass the bill, to revise (i.e., mark up) and release the bill, or to lay the bill aside (also known as tabling the bill).

(3) Floor Action

If the Bill is recommended to be marked up and released The bill is then returned to the full House of Representatives or Senate for further deliberation and approval. Here, members involved may propose amendments to the bill, add additional any relevant text, or otherwise alter the bill slightly.

(4): Vote

House of Representatives or Senate members vote on their respective versions of the proposed bill.

(5) Conference Committees

A bill must be approved by both Chambers of Congress (The House of Representatives and the Senate).

If the Senate has ammended and passed a bill that the House of Representatives has previously passed or vice versa, the two Chambers begin to resolve any legislative differences between the House of Representatives and Senate versions of the bill by having a conference committee.

When the chambers go to conference, the House and Senate send representatives to bargain and negotiate.

The final compromise is drafted or written in a Conference Report that must have been agreed to by both chambers before it is cleared for presidential consideration.

(6) Presidential Approval

After the bill is passed by both Chambers it is sent to the President for his approval (the president approves by signing the bill). If the Bill is, it becomes a Public Law.

When a President comments on but refuses to sign a bill it becomes a vetoed bill.

A vetoed bill is either rejected or it returns to Congress (The House of Representatives and Senate) for reconsideration.

If the President does not act within 10 days the bill automatically becomes law.

If the President does not sign the bill and the Congress does not act during the 10 days after the bill is sent to the President, the bill is automatically vetoed.

When the last scenario happens, it is known as a pocket veto.

(7) The Creation of a Law

The Public Law is assigned a number by the Office of Federal Register and the Government Printing Office prints a copy of the law.

Laws are issued first in slip form or a single publication. Later it is organized in the order in which it was passed. Finally, it is filed into subject order so that all laws concerning the same topic fall together.

A regular obstacle most bills pass through would be the inability to pass stage 2 ( ie the bill is tabled). This usually happens when an already existing bill solves the stated issue or the stated issue isn't really an issue. For this to be prevented, do research on your bill to see if laws are already in place and check if your bill would cause harm or be detrimental to the general public.

Your bill becomes a statue (a statue is a written law passed by the goverment as opposed to a verbal law or normal/expected code of conduct or a social norm).

For a bill to be cited -

Include:

The name of the bill (and if relevant), the abbreviated name of the regulatory body (either the house of Representatives or the senate H.R. or S.),

The number of the bill,

The number of the Congress, and

The year of the law's publication.

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