Answer:
$10
Explanation:
unit cost, replacement cost, expected selling price, estimated disposal and completion costs, and normal gross profit as a percentage of expected selling price follow
Item A: $10, $9, $20, $2, 50%
Item B: $30, $32, $50, $4, 30%
Item C: $50, $48, $90, $0, 40%
I used an excel spreadsheet to calculate the value of ending inventory using the lower of cost or market value. The ending inventory = $890, while the purchase cost = $100 + $300 + $500 = $900
the inventory should be written down by $10
Hey MCU fans, 30 pts to the first person who can answer this question! What was Loki's last words TO THOR before he died? Just thought this would be fun :)
This management theory assumes there is no one best way to manage?
The contingency approach to management is based on the idea that there is no single best way to manage. Contingency refers to the immediate contingent circumstances. Effective organizations must tailor their planning, organizing, leading, and controlling to their particular circumstances.
New Ventures Enterprises Inc. Is considering a proposal to invest 600,000 in new Cell Telephone Product. Production equipment which will be depreciated on a straight-line basis with a 6-year life, and no salvage value. The projected
Answer:
Note: The full question is attached as picture below
New Ventures Enterprises Inc.
Income Statement
Sales $565,000
Cost of goods sold
Variable manufacturing cost $100,000
Direct labor cost $150,000
Fixed manufacturing cost $52,500
Total cost of goods sold $302,500
Gross Profit $262,500
Operating Expenses
Selling and administrative $74,000
Operating profit $188,500
Income tax expenses at 15% $28,275
Net Income $160,225
Mario owns a store that sells skateboard equipment. Mario understands that people are most likely to notice his headline text in a text ad.What should Mario include in his headline
2. Which statement about the factors of production is correct?
A) A river from which a company draws water is called land.
B) Raising finance for a company is called capital.
C) Supervisors employed in a company are called enterprise.
D) The owner of a company is called labour,
Answer:
A) A river from which a company draws water is called land.
Explanation:
There are mainly 4 Factors of Production and these are:
1. Labor
2. Land
3. Capital
4. Entrepreneurship
Labor doesn't refer to the owner of the company. It refers to the work that is being done in order to finish a particular project or work. This makes choice D incorrect.An enterprise refers to the entire company or business. It doesn't limit itself to the supervisors involved. This makes choice C incorrect.Capital in the form of money is not a factor of production. Raising finance for a company means raising money. An example of capital as a factor of production is purchasing an equipment for commercial/business purposes. This makes choice B incorrect.When it comes to "land" as a factor of production, it refers to the natural resources, which means it includes not only the forests, mountains and the like but also the oceans, rivers, lakes, etc. as long as it is being used in the production process. This makes choice A correct.18. In the current year, Marc, a single taxpayer, has ordinary income of $35,000. In addition, he has $3,000 in short-term capital gains (STCG), short-term capital losses (STCL) of $6,000, and long-term capital gains (LTCG) of $4,000. What is Marc's adjusted gross income (AGI) for the current year
Answer:
$36,000
Explanation:
The computation of the adjusted gross income for the present year is as follows:
= Ordinary income + short term capital gain - short term capital loss + long term capital gain
= $35,000 + $3,000 - $6,000 + $4,000
= $36,000
Hence, the adjusted gross income for the present year is $36,000
The same is relevant
Hello today January 1 happy new year
Answer:
Happy New Year
Explanation:
Hi guys! 40 points!
I would appreciate some help on this one, I'm stumped lol.
What are some ways to encourage companies to get involved in exporting? Would exporting necessarily lead to a favorable balance of trade?
Answer:
1. Give companies the idea that they have an advantage in certain foreign markets and that they can earn a lot of money from this. Companies that make good business with exporting goods also earn them a reputable reputation.
2. If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists.
Explanation:
hope this helps :)
Buyer Bill has agreed to pay for a computer system after all hardware has been installed and operational. What type of contract does Bill hold
Answer:
"Executory" is the right solution.
Explanation:
An executory contract would be a contract concluded by individuals involved, these same phrases among which are always to be accomplished at that same future stage. This same agreement states that when both parties always have responsibilities to fulfill before they could be finalized, which are often in a position in between the debt collector or bondholder and maybe the other individual.Mark sold his home to Lenny. Lenny moved into the home, but did not record the deed. A few weeks later, Mark died. His heirs were unaware that he had sold the home, and conveyed title to Donald, who actually recorded the deed. Who owns the property
Answer:
Lenny
Explanation:
Even though Lenny moved into the home but did not record the deed which is a legal document that will prove and show the transfer of ownership of the property from Mark to Lenny in which Donald was the one who recorded the deed , the person who OWNS the property is LENNY reason been that we were told that Mark sold his home to LENNY before he died a few weeks later.
Therefore the person who owns the property is LENNY.
Of those listed below, the best example of a pure public good is a. a public school b. a radio broadcast c. a hardcover copy of a book d. a rock concert held in a small auditorium
Answer:
b. a radio broadcast
Explanation:
The pure public good is a good which is non-rivalrous and non-excludable. Non-rivalrous represents that the goods does not diminshed in the case when more people consumed it while on the other hand, the non-excludable represents that the goods are available to all
Therefore as per the given options, the option b is correct
hence, the other options are incorrect
Prepare the correcting entry.
The purchase of 1200 of office equipment with a three year useful life was debited to office supplies
Check #628 for $98 was not recorded in the ledger. On a bank reconciliation, this would be shown as a(n)
A. decrease in the bank account balance
B. increase in the ledger cash account balance (book balance)
C.increase in the bank account balance
D. decrease in the ledger cash account balance (book balance)
Answer:
D. decrease in the ledger cash account balance (book balance)
Explanation:
The check was written and issued but was not recorded in the ledger. The check is appearing in the bank statements but not in the book balance. It means the bank has already factored and adjusted the amount in the customer statements.
The customer needs to adjust their books to reflect the check amount. The amount should decrease the balance in the customer books balance.
property taxes are $4,200 per year. The closing is April 20th and closing day is charged to the buyer. Using the 365-day method, how will the proration of property taxes show on on the closing statement?
Answer:
Dr Seller $1,254.25
Cr Buyer $1,254.25
Explanation:
Calculation for how will the proration of property taxes show on the closing statement
First step is to calculate days of seller ownership
Days of seller ownership= 31 days in January 31 + 28 days in February+31 days in March + 19 days in April
Days of seller ownership=109 days
Second step is to calculate the tax owed by the seller using this formula
Tax owed by the seller =[(Property taxes ÷365 days)*Days of seller ownership]
Let plug in the formula
Tax owed by the seller=[($4,200 per year÷365 days)*109 days
Tax owed by the seller=$1,254.25
Last step is how will the proration of property taxes show on on the closing statement
Closing statement Entries will be show as:
Dr Seller $1,254.25
Cr Buyer $1,254.25
Therefore how will the proration of property taxes show on the closing statement is Debit Seller $1,254.25 and Credit Buyer $1,254.25