Answer:
a. It uses multiple work-in-process accounts for manufacturing firms.
Explanation:
"Companies use process cost systems to apply cost to similar products that are mass-produced in a continuous fashion.
[...] companies track costs through a series of connected manufacturing processes or departments, rather than by individual jobs. Thus, companies use process cost systems when they produce a large volume of relatively homogeneous products"
Reference: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2009). Managerial accounting: tools for business decision making. John Wiley & Sons. pp 100-101
Answer:A. Leontief assumed that U.S. and foreign technologies were the same, while the Heckscher-Ohlin model assumes they are different
B. Leontief ignored land abundance in the United States
D. Leontief’s test distinguished between skilled and unskilled labor, but ignored capital.
Explanation:Leontief paradox is a Russian-American economist, his work was based on the work of Wassily W. Leontief he attempted to test the Heckscher–Ohlin theory ("H–O theory") empirically.
in economics tries to explain that a country with a higher capital per worker has a lower Capital per labor ratio in export than when compared to Import.
LEONTIEF IGNORED THE ABUNDANCE OF LAND IN MAKING HIS ASSUMPTIONS
HE ALSO CLASSIFIED THE U.S TECHNOLOGY AND OTHERS AS THE SAME WHICH IS NOT IN LINE WITH THE H-O MODEL ASSUMPTION.
LEONTIEF THEORY IGNORED CAPITAL DURING HIS TEST.
Answer:
The book value of the bond liability as of June 30, 2019 is:
$401,800
Explanation:
The face value of the bond issued is $401,800
The issue price = $416,753
Bond premium = $14,953
This bond premium will be amortized for 10 years semi-annually using the effective-interest method.
However, as of June 30, 2019, no bond has been repaid, since its maturity is after 10 years. Therefore, the liability on the bond remains the amount of the face value of the bond, which is $401,800.
Answer:
1. $452,000
2. zero
Explanation:
1. The computation of the goodwill is shown below:
= Acquiring value of the division - fair value of the identifiable net assets
= $3,955,000 - $3,503,000
= $452,000
2. Since the fair value of the Cullumber division i.e $2,486,000 is more than the net asset value i.e $2,260,000 or the carrying value. So no impairment loss is recorded
All other information which is given is not relevant. Hence, ignored it
