Answer:
$405,000
Explanation:
The computation of the ending inventory reported is shown below:
Inventory on December 31,2018 $325,000
Add: Goods purchased from a vendor i.e shipping point $30,000
Add: Goods sold FOB destination to customer $38,000
Add: consignment by Brecht Inc $12,000
Ending inventory reported $405,000
In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer
Answer:
$16,500
Explanation:
Depreciation is a method used in expensing the cost of an asset.
sum-of-the years'-digits method = (useful life remaining / sum of years) x (cost of asset - residual value)
sum of the years = 1 + 2 + 3 + 4 = 10
(3 / 10) x ($60,000 - $5,000) = $16,500
Answer:
The correct answer is letter "B": Understanding.
Explanation:
While composing a text, the understanding buffering technique is helpful to show the reader the writer is concerned about what is being exposed. The buffering must provide a smooth transition to the explanation of the text. Thus, it must be written the most accurate possible.
Answer:
A. Expand-ability Relevance
Explanation:
Financial statements does not need expansion, therefore expand-ability relevance is not one of the qualities of financial statements.
A. Faithful representation- financial statements must be a faithful representation of the state of the entity. it should represent the correct position of the entity.
B. Comparability - The financial statements must be prepared in accordance with acceptable standard to ensure comparison within and without the entity.
C. Consistency and Verifiability - The numbers must be verifiable and methods choosing in treating certain items must be consistent over time.
Answer:
d-Both a and c are true
Explanation:
Less developed countries in the world show both diverting behaviors. The fastest-growing economies in the world (above annual growth of 3.5%) are mostly less developed countries as China, India, and Panama. It is also true C, where the slowest growing economies in the world experiencing declines in per capita GDP are less developed countries too, like Venezuela and Siria
