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7nadin3 [17]
3 years ago
5

When changing from the average cost method to FIFO, the company: rev: 11_13_2020_QC_CS-240633 Multiple Choice Revises comparativ

e financial statements. Records a journal entry to adjust the book balances from their current amounts to what those balances would have been using FIFO. Provides a disclosure note explaining why the change to FIFO is preferable. All of these answer choices are correct.
Business
1 answer:
Nata [24]3 years ago
3 0

Answer:

my number is 678-918-5374

Explanation:

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3 years ago
Read 2 more answers
Which is the most clear and precise sentence explaining what to do before submitting new content to a webmaster?
Gala2k [10]

Answer:

The correct answer is letter "A": Please consult the Frequently Asked Questions web page before submitting new content to the webmaster.

Explanation:

Webmasters are responsible for the development, coordination, and maintenance of a web site. While sending a message before others submit content to webmasters about information the individuals might also find in the Frequently Asked Questions (FAQ), we should be objective and respectful at all moments. Thus, the phrase:

<em>Please consult the Frequently Asked Questions web page before submitting new content to the webmaster.</em>

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5 0
3 years ago
Cairns owns 80 percent of the voting stock of Hamilton, Inc. The parent’s interest was acquired several years ago on the date th
tensa zangetsu [6.8K]

Answer:

hello your question has a missing journal entry table attached below is the entry journal table completely filled

Explanation:

Amount of bonds acquired = 40% of original bond

i) Bonds payable = 40% * 1,300,000

                           = $520000

purchase price of bonds = $520000 * 96% ( FACE VALUE )

                                         = $499200

hence the annual amortization

(bonds payable - purchase price of bonds ) / 10 years - 2 years

(520000 - 499200 ) / 8  = $20800/8 = $2600

ii) premium on bonds payable

$20800 - $2600 = $18200

cash amount = $520000 * 8% = $41600

intra entity expense and income table is attached below

from the table

iii) intra-entity interest expense = $39000 and the

iv) intra-entity interest income = $44200

v) investment in bonds

purchase price of bonds + annual amortization

= $499200 + $2600 = $501800

the book value on bonds as at 1st January 2011

=$1300000 * 105% = $1365000

Premium on bonds as at January 1st 2011

= $1365000 - $1300000 = $65000

amortization of premium as at January 1st 2011

=( ($65000) / 10 years ) * 2 years

= $13000

hence the controlling interest in bonds payable = $540800

vi) gains on retirement bonds

=  $540800 - $499200 = $41600

attached below is the journal entry on 31st December 2013

5 0
3 years ago
Tony’s business has been struggling for a while his marketing strategy has not worked with the consumers his business has reache
Kisachek [45]

Answer:

selling

Explanation:

7 0
3 years ago
The income elasticity of demand for housing property is exactly 1.40. Due to a recession, you expect incomes to drop by 5% next
a_sh-v [17]

Answer:

Buy 7% less houses

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income

Income elasticity of demand = percentage change in quantity demanded/ percentage change in income

1.40 = percentage change in quantity demanded/ 5%

Percentage change in quantity demanded = 1.4 × 5% = 7%

Because the coefficient of elasticity is greater than one, it means demand is income elastic. This means quantity demanded is responsive to changes in income. A fall in income would reduce the quantity demanded.

I hope my answer helps you

5 0
3 years ago
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