Answer:
Correct option is D
Explanation:
Provided Information,
There is a permanent fund with historical cost of $300,000.
Since the nature of fund is permanent and not a current fund which needs to be shown at current fair market value.
In case of long term assets and funds they are shown at historical cost, as there change in price is not reflected in balance sheet.
As the change might happen with increase or decrease, until the change is permanent the fund is shown at historical cost.
Therefore in the given case the increase in fair value from $300,000 to $360,000, will not be reflected in balance sheet.
Correct option is d)
No entry will be done to recognize any increase or decrease in fair value of such funds.
Answer:
Explanation:
Cost of sales 640+1810+1620=$4070
Operating Expenses 80+113=$193
Total Cost =4263
Unit produced =370
cost per unit =11.52
Sales revenue =250*14=$3500
Income statement
Revenue - 3500
Cost of sales 4070
Gross profit (570)
Operating Expenses (193)
Net loss (763)
Balance sheet
Inventory 1382.4
Equity 4800
Total asset 6182.4
Inventory is valued at $11.52 (lower of cost and net realizable value)
The answer is D
Sorry if I'm not 100%
Correct I tried (๑♡∀♡๑)
U.S. membership in the World Trade Organization had this effect:
It has resulted in a steady growth in international trade.
A downside of this is that the trend toward outsourcing is gaining ground. Companies prefer to outsource labor because cost of outsourced labor is cheaper than domestic labor. This is good for the companies because their costs decrease. However, domestic employees are becoming jobless. They find it hard to compete with foreign laborers. Thus unemployment rate increases.
Answer:
The correct answer is letter "A": Investing decisions (Yes); Credit decisions (Yes).
Explanation:
Financial Accounting refers to gathering, recording, summarizing and reporting financial data related to a company. The ultimate objective is to accurately report the financial picture and results of a company at a certain point in time and over a certain point in time.
<em>The information gathered is helpful for investors so they can make decisions over what course the firm should follow moreover when a company might need credit to finance its operations.</em>