The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>2. $10,620</u>.
<u>Explanation</u>:
<em><u>Given</u></em>:
Currency and coins= $620
Balance in checking account= $1,600
Customer checks waiting to be deposited= $2,500
Treasury bills= $2700
Marketable equity securities= $10,600
Commercial paper cost= $5900
The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents= 620+1600+2500+5900
= $10,620
The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>$10,620</u>.
Answer:
Value of ending inventory = $960.4
Explanation:
To value inventory, The weighted average inventory method uses the value of weighted average price of all the batches purchased till date. The weighted average price is re-computed whenever a new batch of stock is received.
Step 1
<em>Calculate the weighted average price</em>
For Glasgow, we can work out the weighted average price as follows:
The total value = (65 × $3.40) +( 310× $3.90) +( 145 × $4.00) + ( 60 × $4.40)
= $2,274
The total quantity purchased before sales
= 65 + 310 + 145 + 60
= 580 units
Weighted average price
= $2,274/ 580 units = $3.92
Step 2
<em>Calculate the closing inventory units</em>
<em>Closing inventory = opening inventory + purchases - sales</em>
= 65 + 310 + 145 + 60 - 335
= 245 units
Step 3
<em>Value the closing inventory</em>
= 245 × $3.92
= $960.4
Value of ending inventory = $960.4
Answer:
FASB ASC 835-20-15-8
Explanation:
This section explicitly states that in order for interests to qualify for interest capitalization, the assets purchased through the loan must be getting ready for its intended use. E.g. if you want to capitalize the interests on the land, you must carry out activities necessary to prepare it for its intended use. Or if you purchase a machinery, you must be installing it in order to get it ready to produce.
Hindus fold their hands in the namaste greeting and touch
their forehead as a sign of respect. To perform a proper namaste, one
should hold his or her palms together, with the fingertips at chin,
level and nod rather than bow and say " Namaste." " Namaste"
literally means "I bow to thee” or “I honor the godhead within.” The
gesture is a sign of respect and is used by men and women when meeting
members of the same or opposite sex. It is similar to praying gesture
performed before an image of a deity at a temple. [Source: The Traveler's Guide to European Customs & Manners
by Elizabeth Devine and Nancy L. Braganti. International etiquette
expert: Mary Kay Metcalf of Creative Marketing Alliance in New Jersey.
Answer:
Gobblecakes is a bakery that specialized in cupcake. The annual fixed cost to make cupcake is $18,000. The variable cost including ingredients and labor to make a cupcake is $0.9. the bakery sell a cupcake for $3.2 a piece.If the bakery sells 12,000 cupcakes annually, determine the total cost, total revenue, and profit.
Total cost= variable cost + fixed cost
TC= 0.9+18,000
TC= $18,000.90
Total revenue= price X quantity of goods
TR= 3.2 X 12000
TR= $38,400
Profit= TR-TC
Profit= $38,400-$18,000.9
profit= $20,399.10
Explanation:
