What Is a fixed asset that has a value at the time to be retired from service called?

In 2007, Terry Inc. provided the following items in their footnotes. Their cost of goods sold was $22 billion under FIFO costing

nikdorinn [45]

Answer:

$22.2 billion

Explanation:

Calculation to determine How much would they report as LIFO cost of goods sold

Cost of goods sold=$22 billion + ($0.8 billion $0.6 billion)

Cost of goods sold=$22 billion + $0.2 billion

Cost of goods sold= $22.2 billion

Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion

7 0

3 years ago

Classify each item as an asset, liability, common stock, revenue, or expense.

kari74 [83]

Answer: The answer is as follows:

Explanation:

Each item is classified as follows:

(a) Issuance of ownership shares - Common Stock

(b) Land purchased - Assets

(c) Amounts owed to suppliers - Liabilities (Accounts Payable)

(d) Bonds payable - Liabilities

(e) Amount earned from selling a product - Revenue

(f) Cost of advertising - Expense

6 0

4 years ago

You are considering acquiring a common share of Sahali Shopping Center Corporation that you would like to hold for 1 year. You e

Vikki [24]

Answer:

B. $32.37

Explanation:

The computation of the maximum price for paying the share today is shown below:

Let us assume the buying price be x

Now we applying the following formula

Return = (sale price - buy price + dividend) ÷ (buy price)

12% = ($35 - x + $1.25) ÷ x

0.12 = $36.25 - x

1.12x = $36.25

x = $36.25 ÷ 1.12

= $32.37

Hence, the correct option is B.

3 0

4 years ago

Employees of Bodegas & Bistros Inc. (2B) maintain a password-protected social media page to "vent about work." When 2B learn

emmainna [20.7K]

Answer:

The answer is: A) a violation of the Stored Communications Act.

Explanation:

The Stored Communications Act (1986) regulates voluntary and compelled disclosure of "stored wire and electronic communications and transactional records". In order to force third party internet service providers (ISPs) to disclose the contents of email or other files stored, only a subpoena and prior notice is needed.

In this case, Bodegas & Bistros didn't present a subpoena to the network, so they shouldn't have been allowed the information.

3 0

3 years ago

1 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 6 Beverly Company has determined a standard va

N76 [4]

Answer:

$8,700

Explanation:

Variable Overhead Rate Variance = Actual Hours *(Actual Rate - Standard Rate) =

Variable Overhead Rate Variance = 1,600 * ($2.40 - $3.80)

Variable Overhead Rate Variance = 1,600 * $1.40 F

Variable Overhead Rate Variance = $2240 F

Variable Overhead Efficiency Variance = Standard Rate*(Actual Hours - Standard Hours) =

Variable Overhead Efficiency Variance = $3.80*(1,600 - 0.50*3,300)

Variable Overhead Efficiency Variance = $3.80* 50 F

Variable Overhead Efficiency Variance = $190 F

Over- or Underapplied Variable Overhead = Actual Overhead Incurred - Overhead Applied

Over- or Underapplied Variable Overhead = 1600*$2.40 - 3,300*$3.80

Over- or Underapplied Variable Overhead = $3840 - $12540

Overapplied Variable Overhead = $8,700

3 0

3 years ago

What Is a fixed asset that has a value at the time to be retired from service called?​

What Is a fixed asset that has a value at the time to be retired from service called?