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yarga [219]
4 years ago
6

If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount

to be used for purposes of inventory valuation is
Business
1 answer:
meriva4 years ago
3 0
What are the options?
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Explain why vaccinations and social-distancings in times of the Corona pandemic are both
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as they prevent further spreading of the virus. vaccinations create phagocytes which will ingest the virus cells. and self isolation will prevent the virus (which are droplets) from passing onto one another.

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Sharon is confined to a wheelchair since her accident. her employer supplied a special desk and widened the aisles so that she c
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Reasonable Accommodations. 
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How do I get more questions?
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You need to get more points so you can ask questions.

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3 years ago
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At December 31, Gill Co. reported accounts receivable of $246,000 and an allowance for uncollectible accounts of $1,200 (debit)
Ganezh [65]

Answer:

the amount of the adjustment for uncollectible accounts would be $11,040

Explanation:

The computation of the amount of the adjustment for uncollectible accounts would be given below:

= Account receivable × uncollectible percentage + debit balance of the uncollectible accounts

= $246,000 × 4% + $1,200

= $9,480 + $1,200

= $11,040

Hence, the amount of the adjustment for uncollectible accounts would be $11,040

3 0
3 years ago
Rowan Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categor
luda_lava [24]

Answer:

The correct answer is that the valuation would decrease total assets and stockholders’ equity by $101.00

Explanation:

Item             Cost                      Market price            Impact

Quantity

1 220 $ 4.40  $ 4.60        no impact as cost is lower

2 130 $ 6.20  $ 6.00 ($6.20-$6.00)* 130=$26

3 100 $ 10.00  $ 9.25 ($10-$9.25)*100    =$75

4 25 $ 20.50  $ 25.00 No impact as cost is lower

The total reduction in the value of inventory as a result of adopting the lower of cost or market price valuation is $101 ($75+$26),hence decreases total assets by $101 and the stockholders' equity(retained earnings which is a component of stockholders' equity ) by the same amount

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3 years ago
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