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xxMikexx [17]
3 years ago
6

g On November 1, 2020, 5M Corporation entered into a purchase contract (not subject to revision or cancellation) to purchase 750

units of inventory for $50 per unit before January 1, 2021. The company uses the LIFO inventory method. a. If the inventory has a market price of $45 per unit on November 30, 2020, what entry (if any) does 5M Corporation record
Business
1 answer:
enot [183]3 years ago
5 0

Answer and Explanation:

The journal entry is shown below;

Estimated loss on purchase commitment (750 units ×  ($50 - $45)  $3,750

       To Estimated liability on purchase commitment $3,750

(Being estimated loss is recorded)

Here the estimated loss is debited as it increased the loss and estimated liability is credited as it also increased the liability

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Homer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annu
kotegsom [21]

Answer:

$165,000

Explanation:

The computation of the annual net cash flow is shown below:

But before that first we have to find the depreciation expense which is

= (Initial cost - Salvage Value) ÷  estimated life

= ($400,000 - $75,000) ÷ 5 years

= $65,000

Now the annual net cash flow is

= Depreciation expense + Net Income

= $65,000 + $100,000

= $165,000

We simply added the depreciation expense and the net income so that the annual net cash flow could come

4 0
2 years ago
If GDP is expected to increase at a steady rate of 3% per year, how many years would it take for living standards to double
Troyanec [42]

Answer:

24 years

Explanation:

In a situation where a country GDP which is fully known as GROSS DOMESTIC PRODUCT was been expected to increase or grow at a rate of 3% per year or per annual which means that it will actually takes up to 24 years for a country economy living standard to double .

Therefore the numbers of years it would take for a country living standards to double will be 23 years.

5 0
3 years ago
1. Analysis How many burritos will the producer supply at the price of $1? In your opinion, what is the reason for that quantity
amm1812

The number of burritos that will be supplied depends on the costs the supplier incurs.

You did not include any charts that can be used to answer this specific question so I will give a general answer.

When a supplier is deciding the price at which to supply a good, they look at:

  • Their costs both fixed and variable
  • The price others are charging
  • The demand for the good

The most important factor is their costs. If in this case, it costs more than $1 to produce a burrito, they will not supply burritos. If their costs are less than a dollar, the number of burritos supplied will then depend on other factors but they will supply some.

In conclusion, if the cost to make the burrito is less than $1, the supplier will supply no burritos but if the cost is less, they will supply based on other factors.

<em>Find out more at brainly.com/question/1908405.</em>

8 0
2 years ago
Nimbus Inc. is a hybrid organization. The organizational structure of the company has been developed to combine geographic suppo
kolbaska11 [484]

Answer:

<em> B) that Nimbus has a matrix structure</em>

Explanation:

Yes absolutely the above information is true, and from the following statement that can be fittingly inferred is given in OPTION(B).

<em>Because matrix structure is something in that organizational structure of the company has a single record that is given to multiple administrator.</em>

So, therefore as we can see in the scenario that Nimbus Inc. is also has a matrix structure.

7 0
3 years ago
When working with international firms, U.S. businesses Multiple Choice expect socially responsible behavior from their business
Brilliant_brown [7]

When working with international firms, U.S businesses expect socially responsible behavior from their business partners.

<h3><u>Why do U.S businesses increasingly focus on international businesses?</u></h3>

American businesses are aware that doing business abroad will boost productivity and broaden their population, which will promote economic expansion. Since the beginning of time, there have been numerous international exchanges, and American businesses now recognize the advantages of offering their services abroad.

To cut costs, some US companies relocate abroad. To grow their business, other companies venture abroad. Many companies can successfully operate on a global scale.

You can learn more about international business using this link:

brainly.com/question/15054188

#SPJ4

4 0
2 years ago
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