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:
$0
Explanation:
Scott Company must record the warranty expense and liability regarding the products sold during the years that they occur. For example, the following journal entry must be made to record the warranty expense for year 1:
Dr Warranty expense 25,000
Cr Warranty liability 25,000
During year 2, they will record the warranty expense for that year:
Dr Warranty expense 20,000
Cr Warranty liability 20,000
That means that during year 3, the only warranty expense recorded will be the one related to the goods sold during that year.
You should always try to meet the word limit
Answer:
feature differentiated products
Explaination:
i just took the quiz
In today's competitive and globalized business environment, HR teams are responsible for developing human capital in organizations.
<h3 /><h3>What is the role of the Human Resources department?</h3>
It is a team responsible for managing the employees in an organization, such as recruiting, selecting and aligning potential candidates to positively contribute to the organization's goals.
Therefore, currently, human capital is the differential for the company to be well positioned in the market, and HR is responsible for managing the talents that will generate the necessary innovation for the business.
Find out more about Human Resources here:
brainly.com/question/10583893
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