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jolli1 [7]
3 years ago
9

Think about a country where most economic production results in air pollution that creates lots of smog. What would be the trade

-off if the bad result (air pollution) were reduced
Business
1 answer:
Luba_88 [7]3 years ago
8 0

Answer:

1.Nigeria is a country where most economic production results in air pollution.

2. A healthier environment with longer life spans would be a trade-off for reduced air pollution.

Explanation:

A trade-off is what a person stands to gain or lose in exchange for something else. Nigeria is a country with many industries located around residential buildings. These industries tend to produce gas flares that are inimical to the health of the inhabitants. Residents in these areas tend to develop serious and complicated health issues because of air pollution.  

Reducing this air pollution will result in improved health for residents and longer life spans.

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Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when
luda_lava [24]

Answer:

B. The selling price of the product and the consideration promised in the contract differ significantly.

Explanation:

"While determining the transaction price, an entity shall adjust the amount of consideration with respect to the time value of money, if the timing of payment to be made by customer under the contract provides some significant benefit of financing to the customer or the entity for the transfer of goods or services to the customer. The Significant financing benefit could be explicit or implicit in the contract.

The idea behind the significant financing component is that entity should consider the revenue based on the price that a customer would have paid at the time of transferring the goods or services to the customer by the entity i.e. Cash Selling Price (If the payment was made immediately)."

Reference: Prasenjit. “ASC 606: Step 3 – Determining the Transaction Price.” RevGurus, 25 Mar. 2019

6 0
3 years ago
On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as of January 1 totaled $5900000
likoan [24]

Answer:

the approximate value of the inventory that was destroyed is $4,862,000.

Explanation:

Use the Gross Profit percentage to find the value of the inventory that was destroyed.

Sales                                                          $4,140,000

Less Cost of Goods Sold

Opening Inventory          $5,900,000

Add Purchases                $2,032,000

Add Freight In                     $242,000

Available                            $8,174,000

Less Inventory Lost         ($4,862,000)

Cost of Sales                                             (3,312,000)

Gross Profit at 20%                                    $828,000

Conclusion :

The Value of  inventory that was destroyed is $4,862,000.

3 0
3 years ago
Shelton, Inc. has sales of $435,000, costs of $216,000, depreciation expense of $40,000, interest expense of $21,000, and a tax
Ad libitum [116K]

Answer:

The Income Statement  is-

Sales = $435,000

Costs = 216,000

Depreciation = 40,000

EBIT= $179,000

Interest = 21,000

EBT = $158,000

Taxes = 55,300

Net income = $102,700

I have done this question before in my "Money Management" Dual enrolled class.

:)

4 0
3 years ago
Moira Company has just finished its first year of operations and must decide which method to use for adjusting inventory account
Scrat [10]

Answer:

The Cost of good sold will decrease by 10,000

The other accounts balance will be the same.

<em>Missing Information:</em>

Ending balances in the relevant accounts were:

Work-in-Process            40,000

Finished Goods             80,000

Cost of Goods Sold     680,000

Explanation:

The company applied overhead for the amount of 435,000

This was charged into finished good which latter become cost of goods sold.

Then, as the actual overhead was 425,000 we have to adjust for the over-applied overehad. We applied more than it cost so we have to reduce it.

435,000 - 425,000 = 10,000

<u>We will decrease our COGS against the factory overhead account.</u>

COGS 10,000 debit

  factory overhead 10,000 credit

8 0
3 years ago
Suppose NanoSpeck, a biotechnology firm, is selling stocks to raise money for a new lab—a practice known as finance. Buying a sh
marishachu [46]

Answer: Bond holders                                          

                 

Explanation: In simple words, bondholders refers to the creditors of the organisation. The holders of the bond are not the owners as they are paid fixed interest and are not able to participate in the decision making of the company.

In the event of liquidation, bondholders are paid first because it is assumed that the decision makers should be punished for the liquidation and hence they should be paid at last.

5 0
3 years ago
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