Answer:
The answer is: B) Neither Jeff nor Robert has any recognized gain or loss.
Explanation:
Both Jeff and Robert are contributing different assets to form KS Ventures Corporation. Jeff will transfer property at its fair market value ($90,000) and Robert will also transfer property at fair market value ($70,000) plus $20,000 in cash to equal Jeff's contribution. They haven't gained or lost anything, each still has 50% of stock ($90,000) of KS Ventures Corporation.
Answer and Explanation:
Answer and explanation attached
Beginning raw materials = ending raw materials +raw materials for production+issued raw materials- raw materials purchased -raw materials returned from production= $79800
Cost of goods manufactured =ending finished goods+cost of goods sold -beginning finished goods= $553000
Beginning work in progress inventory=
Ending work in progress + cost of goods manufactured + materials returned - manufacturing overhead applied- issued raw materials-direct labour wages =$105490
Answer: Well, first this relies on whether or not a pack plants twelve plants or just one. For the sake of this question, I will assume they plant one. Each plant costs two dollars and fifty cents to plant, and each are sold for five dollars, making two dollars and fifty cents profit on each. 12 times 2.5 is thirty dollars of profit total.
Explanation:
Answer:
D)determines the inventory on hand only at the end of the accounting period.
Explanation:
Due to the fact of <em>inflation, </em>change of prices over time, a periodic inventory system does not provide a better record over the cost of inventory because it is only determined once in the accounting period, usually at the end of it.
Meanwhile, a perpetual inventory system keeps a record showing the inventory at all time. That is every time a sale is made, cost of goods sold (cogs) is determined.
So if a business does not need to wait until the end of the accounting period to check (cogs), it is better to use a perpetual system.
I would suppose that it is because the beef stock wouldn't take as long to cook if you cut it smaller.
