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3 years ago

The most likely effect of a write-down of inventory to net realizable on a firm's total asset turnover is:

1 answer:

7 0

The most likely effect of a write-down of inventory to net realizable on a firm's total asset turnover is an increase.

A write-down of inventory to net realizable value is typically recognized as an increase in cost of goods sold in the period of the write-down, according the inventory equation:
ending inventory = beginning inventory + purchases - cost of goods sold

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At January 1, 2019, Deer Corp. has beginning inventory of 2,000 surfboards. Deer estimates it will sell 10,000 units during the

coldgirl [10]

Answer:

The correct answer is $1,881,600

Explanation:

According to the scenario, the computation of the given data are as follows:

Unit sells = 10,000 units

Growth rate = 12%

Selling price = $150 per unit

Costing = $100 per unit

So, we can calculate the budget sales revenue by using following formula:

Budget sales unit for quarter 3 = (10,000 × 112%) × 112% = 12,544

So, budget sales amount for quarter 3 = 12,544 × $150

= $1,881,600

4 0

3 years ago

Brent is a full-time exempt employee in Clark County, Indiana. He earns an annual salary of $39,360 and is paid semimonthly. He

serious [3.7K]

Answer:

Federal Income tax ⇒ $80
FICA ⇒ $125.46
State income tax ⇒ $52.97
Local deduction - Clark County Income tax ⇒ $29.52

Explanation:

Brent gets paid semi-monthly so his pay per period is:

= 39,360 / (12 months *2)

= $1,640

Based on the table therefore, his federal tax is:

= $80

This figure is based on the intersection between income of $1,640 and 3 withholding allowances.

FICA tax rate is 7.65% so his FICA tax is:

= 1,640 * 7.65%

= $125.46

State income tax = $52.97

Local deduction - Clark County Income tax = $29.52

Total deductions:

= Federal tax + FICA + State income tax + Clark County income tax

= 80 + 125.46 + 52.97 + 29.52

= $287.95

3 0

3 years ago

As a result of the tax, the price received by producers , and . as a result of the tax, the price paid by consumers , and total

exis [7]

This is false because consumer surplus declines because of the increase in price and reduction in quantity.

7 0

3 years ago

The following errors took place in journalizing and posting transactions:

kirill115 [55]

Answer: See explanation

Explanation:

The journal entry to correct the errors is given below:

a. Dr Cash $8400

Cr Account receivable $8400

b. Dr Supplies $2500

Cr Office equipment $2500

Dr Supplies $2500

Cr Account Payable $2500

Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.

6 0

3 years ago

Select the correct answer.

Lapatulllka [165]

Answer:

B. equity financing

Explanation:

Equity financing involves giving up part of the company because it will have to be shared with the partners of the organization who are usually the investors.

5 0

3 years ago