Answer:
The ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200
Explanation:
To determine Ending Balance of Work in Process Inventory, <em>Prepare a Manufacturing Cost Statement</em>.
Opening Work in Process Inventory $11,200
<em>Add </em>Cost Added During the Period :
Direct materials $77,200
Direct labor $25,200
Factory overhead ( $25,200 × 50%) $12,600
Total Manufacturing Costs $126,200
<em>Less </em>Transfer to Next Department ($115,000)
Closing Work in Process Inventory $11,200
Conclusion :
Therefore, the ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200
Answer:
1. Global depository receipts
2. External commercial borrowing
3. American depository receipts
4. Foreign currency convertible bonds
Explanation:
1. Global depository receipts. When a company buys shares of a foreign company, a certificate will be issued by the local depository bank, which allows for security supported by the shares purchased.
Here, Gracious ltd could raise funds by buying of shares in a company in India hence gives the company an avenue to hold shares in foreign country.
2. External commercial borrowing. These are loans granted to viable companies outside of India who are venturing into commercial businesses. Before theses loans are given, there is what is called eligibility status; which must be reviewed and thus confirm with the reserved bank of India before such loans are given.
3. American depository receipts. These are negotiable capital market instruments, issued by a bank in the United States, which shows the number of shares held by a foreign company, trading in the US capital market. A company could use this as a way of raising funds in the India capital market because it is well backed by the bank in the country where the company is.
4. Foreign currency convertible bonds. Here, a bond is issued in a different currency distinct from the issuer's local currency. What this means is that the money being sought for by the issuing company comes in a foreign currency denomination.
