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blagie [28]
3 years ago
7

The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,00

0 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Under U.S. GAAP, what should the balance sheet report for Inventory
Business
1 answer:
irga5000 [103]3 years ago
5 0

Answer:

the inventory should be recorded at $8,500

Explanation:

As we know that according to GAAP, the inventory should be recorded at a cost or net realizable value whichever is lower

So as per the question

Historical cost is $12,000

And, the net realizable value is

= Expected selling price - expected selling cost

= $9,000 - $500

= $8,500

So, the lower cost is $8,500

Hence, the inventory should be recorded at $8,500

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Which of the following falls under the category of current position analysis? a.Number of days' sales in inventory b.Inventory t
Tamiku [17]

Answer:

The answer is D

= Quick ratio

Hope this answer helps you :)

Have a great day

Mark brainliest

3 0
3 years ago
Tamarisk, Inc. has 12000 shares of 5%, $100 par value, non-cumulative preferred stock and 48000 shares of $1 par value common st
hjlf

Answer:

$84,000

Explanation:

preference share dividend is at 5% on $100 par value. The  number of preference shares is 12,000 shares ( non cumulative)

The year 2017 preference share dividend pay out is 5% of 100 multiplied by 12,000 = $60,000

Deduct $ 60,000 from $144,000 dividend declared in 2017 , the balance is common stockholders dividend.

144,000 minus 60,000 = $84,000

Non cumulative preference shares dividend are paid first for the year the company declares dividend. The dividend is not cumulative ( prior years dividend for which company did not declare dividend are forfeited).

The common stockholders are paid dividend after preference shares dividend are paid. The common stockholders bears the full risk of the business as seen above. In event of liquidation, they are the last to be settled from realised asset of the bankrupt company.

7 0
3 years ago
How does the dynamic model of aggregate supply and aggregate demand explain​ inflation?
zaharov [31]

Answer:

The correct answer is the letter C. by showing that if total spending in the economy grows faster than total​ production, prices will rise

Explanation:

The dynamic aggregate supply and demand model explains inflation as follows: In the short run, an economy's production capacity is limited to existing factors of production, ie there is little room to increase the amount of capital and thus the supply of goods and services. Thus, if aggregate demand, that is, the economy's consumption capacity grows faster than production capacity, that is, to supply goods and services, there will be demand inflation, which happens when aggregate consumption pressures aggregate supply, raising price levels.

4 0
3 years ago
Whats 9+10?..................Lol
shusha [124]
I think the answer is 21
5 0
3 years ago
Read 2 more answers
Cheaters in cartels make ________ profit when the other cartel members ________ their promise
Mkey [24]

Cheaters in cartels make more profit when the other cartel members keep their promises. Thus, option D is correct.

<h3>What are Cartels? </h3>

A cartel is a group of separate companies or social groups that combine to fix prices on goods or services. Within the same sector, cartels compete and work to lessen that rivalry by setting prices in accordance with themselves.

A cartel is an entity with no ethics, which means it often includes cheaters who tend to earn more money than the ones who keep promises. Therefore, option A is the correct option.

Learn more about cartels, here:

brainly.com/question/14265043

#SPJ4

The question is incomplete, the options are:

A)more; break

B)less; keep

C)zero; break

D)more; keep

3 0
2 years ago
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