Answer:
An adjustment to retained earnings is necessary when when there is a change from LIFO to FIFO.
Calculating the effect on retained earnings:
- In the year 1 company followed LIFO and recorded ending inventory at $177500. Had it followed FIFO it would have recorded at $195000. So there would be increase in income of $17500 (195000 - 177500).
- In year 2 it followed LIFO and recorded opening inventory at $177500 and closing inventory at $355000 and thereby recording Net closing stock of $177500 (355000 - 177500). Had it followed FIFO it would have recorded a net stock of $195000.(390000-195000). So there would be increase in income by of $17500 (195000 - 177500).
So in total of 2 years there would be an increase of $35000 Net income i.e., Retained earnings and increase in stock value of $35000.
The journal entry is:
Inventory A/c Dr $35,000
To Retained earnings A/c $35,000
Explanation:
Under NASAA rules, each registered investment adviser must establish, implement and maintain a business continuity and succession plan that is based on the is based on the <u><em>investment adviser's business model including the size of the firm, types of services provided, and number of business locations.</em></u>
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The North American Securities Administrators Association's Business Continuity and Succession Planning Model Rule is available to members. It mandates that every RIA (registered investment adviser) create, test, and keep updated a Business Continuity Plan tailored to the specifics of the registered investment adviser's operations, including the size of the firm, the services offered, and the number of locations. Protection, backup, and recovery of books and records; Alternative means of communicating with customers, key personnel, employees, vendors, service providers, and regulators, including notice to these persons of significant business interruption, cessation of business activities, or death or unavailability of key personnel; Relocation of office in the event of temporary or permanent loss of a principal place of business;
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To know more about Registered Investment Adviser refer here: brainly.com/question/17198538
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Answer:
External.
Explanation:
The external factors in an organization, are all factors of its macroeconomic environment, and which directly or indirectly influence the results of its business, some of these factors can be: capital, inflation, technological changes, political changes, social changes, etc.
It is essential that managers establish in their strategic plans the external environment, so that there is security and control to deal with unexpected changes that can affect the profitability of a company, it is necessary to have control of capital, assets and liabilities, in addition to consider the changes that may occur and are not controllable.
Probably a hospital bill or groceries
The total cost of equipment that should be recorded is calculated by adding up all the given values in this item. The costs include equipment cost, transportation cost, tax, and installation cost. Adding up all the values,
TC = ($60,000) + ($1,000) + ($3,000) + ($2,500)
TC = $66,500
ANSWER: TC = $66,500
