Answer:
$200 (a deduction)
Explanation:
The accounting standard for inventories IAS 2 requires that inventory be carried at the lower of cost or net realizable value. Inventory will initially be recognized at the cost ( which includes the cost of the item and other associated cost such as freight ). However, its carrying amount must be reviewed to ensure it is not higher than the realizable value.
Given that the selling price is now $15 which is lower than the cost of $16, it means that the amount that can be realized from the sale of a unit is $15.
= $16 - $15
= $1
As such, an adjustment in form of a reduction of the carrying amount of $1 per unit is required. The amount of the lower cost of market adjustment the company must make as a result of this decline in value
= $1 × 200 units
= $200 (a deduction)
Answer:
B. index
Explanation:
New investors may want to consider to invest in index funds because they focus on a particular sector of the market or a particular type of bond, or indexes may follow and try to reciprocate the market for eg the. The purpose of an index fund is to copy and reciprocate the performance of a market index .
Answer:
Following are the solution to the given question:
Explanation:
Revenue before continuing business 585000
less:income tax -187000
Continuous business revenue 398,000
Operations stopped
Loss of non-compliance -75000
Less: Applicable drop in income tax from 25500 - 49500
net sales 348500
Popular inventory per share
Continued operating revenue ![[\frac{398000}{100000}] \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$3.98](https://tex.z-dn.net/?f=%5B%5Cfrac%7B398000%7D%7B100000%7D%5D%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%243.98)
Losses on disrupted businesses, tax net![[\frac{-49500}{100000}]](https://tex.z-dn.net/?f=%5B%5Cfrac%7B-49500%7D%7B100000%7D%5D)
Net-0.495
Net profits ![[\frac{348500}{100000}] \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 3.485](https://tex.z-dn.net/?f=%5B%5Cfrac%7B348500%7D%7B100000%7D%5D%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%20%5C%203.485)
Answer:
The answer is: Gross profit = $2,788
Explanation:
- Feb. 1 Purchase 110 units $46 per unit
- March 14 Purchase 190 units $48 per unit
- May 1 Purchase 135 units $ 50 per unit
312 units were sold at $64 per unit, tax rate is 30%
Using FIFO, what is the company's gross profit? We first calculate COGS
Cost of goods sold - 312 units:
- 110 units at $46 per unit = $5,060
- 190 units at $48 per unit = $9,120
- 60 units at $50 per unit = $3,000
Total COGS = $17,180
<u>Income statement for Hogan Industries 2017</u>
Total revenue $19,968
<u>COGS ($17,180) </u>
Gross profit $2,788
<u>Taxes 30% ($836.40) </u>
Net profit $1,951.60
Answer: there will be too much pollution
Explanation:
From the question, we are informed that government officials have set an emissions tax to reduce pollution and that the optimal tax should have been $1,500 but government officials have set the tax equal to $500.
It should be noted that due to the fact that the optimal tax has been set below the equilibrium, this will lead to a rise in pollution as the people will be aware that they're paying less than the optimal level which will lead to more pollution. An increase in the optimal tax will have help in reducing the pollution.
