Heres another one here ya go

It is argued that LIFO should not be allowed to compute net income because a. it does not match costs to revenues, especially wh

Bogdan [553]

Answer:

d. it causes profits to be understated when prices are rising and allows a company to dodge taxes.

Explanation:

The LIFO method should not be permitted to determine the net income as in this case the profits would be understated at the time when price is increased due to this it permits the company to dodge taxes as the inventory consumed in the production process also the high inventory value would be involved in the cost of sales that represent the high cost, this result in lower profits and taxes

Hence, the option d is correct

8 0

3 years ago

In the case of distributive bargaining, the ________ point indicates what a person would like to achieve out of a negotiation.

sp2606 [1]

In the case of distributive bargaining, the target point indicates what a person would like to achieve out of a negotiation.

<h3>What is collective bargaining?</h3>

This is when an agreement is reached between employer and employees in an organization on issues that requires urgent attention.

Collective bargaining involves employees working together in an organization coming together to agree about some important matters.

Learn more about collective bargaining here: brainly.com/question/11819753

#SPJ1

3 0

1 year ago

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Ivan

Alona [7]

Answer:

Requirement: Prepare the entry to record the sales transactions and related taxes.

1. Date Account Titles and Explanation Debit Credit

Apr. 10 Cash $30,975

Sales Revenue $29,500

Sales Tax Payable $1,475

(To record Cash sales along with sales tax)

2. Date Account Titles and Explanation Debit Credit

Apr. 15 Cash $18,530

Sales Revenue $17,000

Sales Tax Payable $1,530

(To record Cash sales along with sales tax)

<u></u>

<u>Workings</u>

- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530

- Sales Without Sales Tax = $18,530 - $1,530 = $17,000

7 0

3 years ago

An insurance policy sells for $1200. Based on past data, an average of 1 in 100 policyholders will file a $10 comma 000 clai

Tanzania [10]

Answer:

Expected Value = $740

Expected profit = $22.2m

Explanation:

We can easily calculate the expected value and expected profit/loss in this situation by some minor working

Expected values = Expected Claim - per policy cost

Expected profit/loss = (Expected claim - per policy cost) x number of policies

As you can see per policy cost and no of policies are given in the question data we just need to find expected claim for calculation of expected profit or loss and expected value

Expected Claim = (1/100x$10,000)+(1/250x$40,000)+(1/400x$80,000)

Expected Claim = 100 + 160 + 200

Expected Claim = 460

Now we have a value of expected claim lets put it into Expected profit/loss formula and expected value formula

Expected value = 460-1200

Expected value = -740

-$740 is the value per policy

Expected profit/loss = (460 - $1200 per policy) x 30,000

Expected profit or loss = -22,200,000

Expected loss to the customer = -$22.2 m

Expected profit for the company = $22.2m

3 0

3 years ago

A company has the following account balances: Sales revenue $2,000,000: Sales Returns and Allowances $250,000: Sales Discounts $

Naily [24]

Answer:

0.25 or 25%

Explanation:

The computation of the gross profit rate is shown below:

Gross profit rate = Gross profit ÷ Net sales revenue

where,

Net sales revenue = Sales revenue - Sales Returns and Allowances - Sales Discounts

= $2,000,000 - $250,000 - $50,000

= $1,700,000

And, the Cost of goods sold is $1,275,000

So, the gross profit is

= $1,700,000 - $1,275,000

= $425,000

So, the gross profit rate is

= $425,000 ÷ $1,700,000

= 0.25 or 25%

6 0

3 years ago