It is December​ 31, the end of the​ year, and the controller of Saxton Corporation is applying the​ lower-of-cost-or-market (LCM) rule to inventories. Before any​ year-end adjustments, the company reports the following​ data: LOADING...​(Click the icon to view the​ data.) Saxton determines that the net realizable value of ending inventory is $48,000. Show what Saxton should report for ending inventory and for cost of goods sold. Identify the financial statement where each item appears. Financial statement where item is reported Balance to be reported Inventory Balance Sheet Cost of goods sold Income Statement 393000

Answers

Answer 1

The inventory that will be reported on the balance sheets is $43000 while the cost of goods sold is $455000

Your question is incomplete. A similar question will be used on guiding you. Let's assume the following figures:

The net realizable value of ending inventory = $43000Historical cost of ending inventory = $58000Cost of goods sold = $440000

To know the inventory amount that will be reported on the balance sheets, you've to select the lowest between the net realizable value of the ending inventory and the historical cost of ending inventory. The lowest is $43000.

The cost of goods sold that'll be reported will be:

= $440,000 + $15,000

= $455,000

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Related Questions

what is professonal education?​

Answers

Answer:" Professional education is a formalized approach to specialized training in a professional school through which participants acquire content knowledge and learn to apply techniques. Although content is what the participant is expected to learn by attending professional school, such an education also helps the participant acquire the competencies needed for proper practice and behavior."

Explanation:

How would you convince your investor audience about the merits of your investment idea? ( give some decisions)

Answers

Angel Investors
You have a unique idea for a business it will be successful. You find an individual willing to invest $1..

Addenda E of the Resource Pack of Business Studies​

Answers

Answer:

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Explanation:

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what is the best way to move up and down on your computer srceen?

Answers

Answer:

your scroll wheel or pg up or pg down button

Explanation:

I probably think the up ⬆️ and down ⬇️arrows or you can even use the mouse

Mark the types of businesses that are most likely to need
personal liability protection for their owners. (Select five
answers.).
Driver's education classes
A dressmaker
A children's daycare center
Skiing lessons
Web design service
Cleaning service
An in-home nurse
A bakery
Graphic design service
A jewelry maker

Answers

Answer:

Driver's education classes, a children's daycare center, skiing lessons, an in-home nurse, and a bakery are more likely to need personal liability protection for their owners.

Explanation:

Those are business types that put people's health and safety at risks.

Use the graph illustrating the market for gasoline-fueled cars to answer the question. Which situation corresponds with this graph of the market for gasoline-fueled cars?
O The government increased tariffs on aluminum and steel, increasing the cost of producing all cars.
O The average price of crude oil decreased, causing the price of gasoline to decrease as well.
O The government strengthened safety standards, forcing producers to include more safety equipment in all cars.
O The average price of lithium decreased, causing the price of batteries used in electric cars to decrease.​

Answers

The situation that corresponds with the graph of the market for gasoline-fuelled cars is the average price of crude oil decreased, causing the price of gasoline to decrease as well.

The graph is a diagram of the demand and supply curve for gasoline-fuelled cars. There is a rightward shift of the demand curve. A rightward shift of the demand curve indicates that the demand for gasoline-fuelled cars have increased.

Factors that can lead to a rightward shift of the demand curve for gasoline-fuelled cars

A decrease in the cost of a complement good: A complement good is a good that can be used together with a gasoline-fuelled car. An example of a complement good for gasoline-fuelled car is gasoline. If there is a decrease in the cost of gasoline, the demand for gasoline-fuelled cars would increase.

An increase in the price of substitute goods: A substitute good is a good that can be used in place of another good. A substitute for gasoline-fuelled cars are electric cars. If the price of electric cars increase, the demand for gasoline-fuelled car would increase.

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The minimum passing scale score for all written and practical licensing examinations for board of barbers and cosmetologist in the state of New Mexico.
A. 75
B. 80
C. 70

Answers

B or C not quite sure

Help it's due today
7-9

Answers

Try going on Quizlet!!!

Today is Jerry's first day at his new job as a cashier at the local grocery store. When he arrives in the morning one of his new colleagues explains that Jerry will spend some time watching his colleague use the cash register while the colleague explains what he is doing. Then, after break time, it will be Jerry's turn to start acting as cashier, with his colleague right next to him to show him how to use the machine properly and conduct transactions with customers. Once he feels confident and learns this new skill, Jerry will be able to operate the cash register on his own. This is an example of:

Answers

Since today is Jerry's first day as a cashier at the grocery store and he is spending some hours observing another colleague, the use of the cash register, Jerry is receiving an example of on-the-job training.

An on-the-job training exposes the recruit to the tools, processes, and environment of the job.

An on-the-job training involves initial observation of another colleague doing the job, receiving instructions from supervisors, and practical experience.

Observation helps the recruit to see how the job is done and to ask questions for clarifications. Instructions are given so that the recruit understands the entity's practices and procedures. The hands-on experience enables the recruit to start doing the tasks involved in the job.

Thus, on-the-job training is an aspect of Human Resources Management that helps Jerry to acquire competences and skills to carry out the cashier job at the grocery store.

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For the strategy that you selected, develop an appropriate marketing mix (for example, what products should they offer, at what quality, with what ingredient choices, and so on). You should use the 4Ps to guide your development (but ensure that your marketing mix will effectively deliver the proposed strategy).

Answers

If the selected marketing strategy is to increase purchase desire and reach a greater number of consumers, the appropriate marketing mix is one aligned with the business niche, the company's values and its target audience.

The 4Ps of the marketing mix are:

Product.Price.Place.Promotion.

Assuming the business is a University Cafeteria, a marketing mix can be developed to increase sales like this:

Product:

It must add value and satisfy customer needs. If the potential customer is university students, the product offered may be healthy and quick snacks and meals.

Price:

The pricing strategy must enable business management and forecast the profit margin, so it is necessary to analyze production costs, labor, added  and market value.

As the target audience is young people without much purchasing power, the price must be low and competitive.

Place:

The place where the customer will find the product is essential in the strategy of a business, so a cafeteria located inside the university campus is a competitive advantage for a business.

Promotion:

A cafeteria offers non-durable products with high turnover and consumption, so the ideal promotional strategy to attract young people is to advertise on social media, gain loyalty through discount coupons and promotional combos.

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purpose of corporate management​

Answers

Answer:

to efficiently and effectively utilize the resources that the management has in hand. 

hope this helps <3

Oleg's four employees have been with him since he opened Ready Recruitment Services nearly a decade ago. As he anticipates staffing his new branch office, he decides none of these four long-time employees are ready to manage the office. Faced with this difficult situation, what should Oleg do

Answers

Faced with this difficult situation, ideally, Oleg would run the new branch himself and nominate one of the three to assume the original office, as this would be a way to demonstrate confidence and test the skills of an employee in a higher position.

In this way, the former employee's chances of succeeding in a more responsible management position would increase, due to the employee's long-term knowledge of the workplace and organizational structure.

Oleg should choose for the position and train the collaborator who:

Demonstrate greater innovation and creativity.Be flexible.Have assertive communication skills.

Therefore, this would be a way for Oleg to analyze the skills as a manager of an employee in relation to a work environment he already knows.

Oleg would also be able to increase his willingness to manage the new office effectively.

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7. Valuing semiannual coupon bonds Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. Using the values of cash flows and number of periods, the valuation model is adjusted accordingly. Assume that a $1,000,000 par value, semiannual coupon US Treasury note with five years to maturity has a coupon rate of 6%. The yield to maturity (YTM) of the bond is 9.90%. Using this information and ignoring the other costs involved, calculate the value of the Treasury note: $849,059.88 $721,700.90 $534,907.72 $1,018,871.86 Based on your calculations and understanding of semiannual coupon bonds, complete the following statement: The T-note described in this problem is selling at a .

Answers

The value of the Treasury note is $849,059.88 and this is selling at a discount.

The value of a treasury note depends on different factors such as:

The initial valueThe coupon rateThe value of the yield to maturity

Considering these aspects, let's calculate the value of the treasury note

Initial value: $1,000,000

$1,000,000 x 6% (coupon rate) =  $60,000

$60,000 / 2 (the coupon pays twice a year) = $30,000 - This value refers to the payment per period

Let's consider now the number of periods and the yield to maturity

Number of periods: 5 x 2 (the number of periods double) = 10 periods

Yield to maturity or rate: 9.90% / 2 (cash flow decreases by half) = 4.95%

Finally, you can use the PV formula to calculate the value:

PV (4.95%,10,-30000,-1000000) - This part is done in excel program as the original formula is quite complex

PV =$849,059.88

Based on this, the value of the note is $849,059.88, and you can conclude this is selling at a discount because this value is lower than the initial value of 1,000,000.

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A style guide, such as an MLA manual, will assist you in:
a
Correctly using grammar and punctuation
b
Helping you check your spelling
c
Formatting your references correctly
d
None of these are correct uses for style guide

Answers

Answer:

d

Explanation:

A style guide, such as an MLA manual, will assist you in "None of these are correct uses for style guide". The correct option is D.

A style guide like an MLA manual, serves multiple functions beyond grammar, punctuation, spelling or formatting references. It provides a structured framework for consistency in various communication aspects.

It guides writers in maintaining a uniform tone, style, and formatting across documents, ensuring clarity and professionalism.

The guidelines for layout, headings, citations, and visual elements, a style guide supports effective communication, fosters credibility, and aligns written materials with a specific purpose or brand identity.

Therefore, the correct option is D.

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#SPJ3

how should telcom expand taking over a phone manufacturer or a chain of shops selling mobile phones

Answers

Answer:

expenses already strain their profit margin most operator's can't afford to shoulder the further financial burden of improving smartphone affordability for consumers.

Textra produces parts for a machine manufacturer. Parts go through two departments, Molding and Trimming. The company budgets overhead cost of $258,750 in the Molding department and $218,750 in the Trimming department. The company budgets 16,000 machine hours (MH) in Molding and 25,000 direct labor hours (DLH) in Trimming. Actual production information follows. Number of Units Molding Department Trimming Department Hours per Unit Total Hours Hours per Unit Total Hours Part Z 3,000 2.0 MH per unit 6,000 MH 3 DLH per unit 9,000 DLH Part X 4,000 2.5 MH per unit 10,000 MH 4 DLH per unit 16,000 DLH Totals 16,000 MH 25,000 DLH Required: 1. Compute a departmental overhead rate for the Molding department based on machine hours and a departmental overhead rate for the Trimming department based on direct labor hours. 2. Determine the overhead cost per unit for each part using the departmental rates.

Answers

1 a. Departmental overhead rate for the Molding Department based on machine hours = $16.17 ($258,750/16,000)

1 b. Departmental overhead rate for the Trimming Department based on direct labor hours = $8.75 ($218,750/25,000)

2. Overhead cost per unit for each part based on departmental rates:

                                           Part Z                           Part X

Molding department        $32.34 ($16.17 x 2)       $40.43 ($16.17 x 2.5 MH)

Trimming department     $26.25 ($8.75 x 3)        $35.00 ($8.75 x 4)

Overhead cost per unit  $58.59                          $75.43

Data and Calculations:

                                                Molding       Trimming

Budgeted overhead cost     $258,750      $218,750

Budgeted machine hours         16,000         25,000

Actual Production:

              Molding Department                     Trimming Department

               Hours      Units   Total Hours    Hours      Units    Total Hours  

             per Unit                                      per Unit

Part Z    2.0 MH    3,000    6,000 MH      3 DLH     3,000      9,000 DLH

Part X   2.5 MH    4,000   10,000 MH      4 DLH     4,000      16,000 DLH

Totals                                16,000 MH                                    25,000 DLH

Thus, the Overhead cost per unit for Part Z is $58.59 and for Part X is $75.43.

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On January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of
NetSpeed, Inc., for $810,000 in cash and stock options. At the acquisition date, NetSpeed had
common stock of $800,000 and Retained Earnings of $40,000. The acquisition-date fair value of
the 10 percent noncontrolling interest was $90,000. QuickPort attributed the $60,000 excess of
NetSpeed's fair value over book value to a database with a five-year remaining life.
During the next two years, NetSpeed reported the following:
Net Income
Dividends Declared
2020
2021
$ 80,000
115,000
$8,000
8,000
On July 1, 2020, QuickPort sold communication equipment to NetSpeed for $42,000. The
equipment originally cost $48,000 and had accumulated depreciation of $9,000 and an estimated
remaining life of three years at the date of the intra-entity transfer.
a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of
December 31, 2021.
b. Prepare the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and
NetSpeed.

Answers

a) If on January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021 will be:

Investment Account:

Consideration paid (fair value)  $810,000

Net Income for 2020 $80,000

Database distribution ($60,000/5) ($12,000)

Netspeed's adjusted income $68,000

($80,000-$12,000)

Quickport ownership percentage 90%

(100%-10%)

Quickport share of net income $61,200

(90%×$68,000)

Gain on equipment transfer $3,000

[$42,000-($48,000-$9,000)  

Depreciation adjustment (6 Months) $500

[($3,000/3year)/2]

Equity in earnings of Netspeed $58,700

($61,200-$3,000+$500)

Quickport share of Netspeed's dividends ($7,200)

(90% ×$8,000)  

Balance 12/31/2020  $861,500

($810,000+$58,700-$7,200)

Netspeed's reported net income for 2021 $115,000

Database amortization ($12,000)

($60,000/5)

Netspeed's adjusted 2021 net income $103,000

Quickport's ownership percentage 90%

(100%-10%)

Quickpoet's share of Net speed net income $92,700

(90%×$103,000)  

Depreciation adjustment $500

[($3,000/3year)/2]

Equity in earnings of Netspeed company 2021 $93,200

($92,700+$500)

Quickport's share of Netspeed's dividend ($7,200)

(90% ×$8,000)

Balance 12/31/2021  $947,500

($861,500+$93,200-$7,200)

b. Preparation of  the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.

1. Dr Equipment $6,000

($48,000 - $42,000)

Cr Investment in Netspeed $2,500

 ​($3,000-$500)  

Accumulated depreciation  $8,500

($6,000+$2,500)

2. Dr Common stock-Netspeed $800,000

Dr Retained eanings-Netspeed $114,000

[$42,000+($80,000-$8,000)]  

Cr Investment in Netspeed  $822,600

[($800,000+$114,000)×90%]

Cr Noncontrolling interest  $91,400

[($800,000+$114,000)×10%]

3. Dr  Database $36,000

($48,000-$12,000)  

Cr Investment in Netspeed  $32,400

($36,000×90%)

Cr Noncontrolling interest  $3,600

($36,000×10%)

4. Dr Equity in earnings of Netspeed $93,200

Cr Investment in Netspeed  $93,200

5. Dr Investment in Netspeed $7,200

Dividends declared  $7,200

(90%×$8,000)

6. Dr  Amortization expense $12,000

Cr Database  $12,000

($60,000/5)

7. Dr Accumulated depreciation $1,000

Cr Depreciation expense $1,000

($3,000/3 years)

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Justine heard that an Australian newspaper has just published a very interesting article about the koala bear, her favorite animal. Justine is most likely to find this article online, as the internet allows for quick access to which type of news?

Select one:

a.
local news


b.
world news


c.
honest news


d.
entertainment news

Answers

I think the correct answer is B. World news I’m not sure

Which word names the way the different parts of language are arranged?
Gramma
Pronunciation
Structure
Diction

Answers

Linguists have identified five basic components (phonology, morphology, syntax, semantics, and pragmatics) found across languages.

Job order costing can be applied or used at the same time with
a. actual costing system

b. normal costing system

c. both a and b

d. none of the above

Answers

D. None of the above


A fixed resource is one that

Answers

Answer:i think its 4

Explanation:  i do not really know

A negative balance in the current account means that
a trade deficit definitely exists.
a trade surplus definitely exists.
the total amount of goods, services, and transfer payments flowing out of the economy is more than the total amount flowing in.
more is being spent on domestic goods than foreign goods.
the capital account is negative.

Answers

Answer: There are two categories in the BOP: the current account (CA) and the capital and financial account (CFA). If a transaction creates a liability, like selling a bond to another country, that gets counted in the capital and financial account. But if a transaction doesn’t create a liability (like the fancy red cars), the transaction gets counted in the current account.

Anything that occurs in one account is offset by the opposite happening in the other account. For example, if the current account increases by \$100$100dollar sign, 100, the capital and financial account must decrease by \$100$100dollar sign, 100. The fact that an entry in the current account is offset by an entry in the capital and financial account creates the mathematical identity:

Explanation:

How does money function as a medium of exchange?
O A. It has a value that is set and changed by the government.
O B. It can be used to compare the value of different products.
C. It allows people to buy, sell, and trade goods efficiently.
D. It can be made of paper, metal, or many other materials.

Answers

Answer:

C. It allows people to buy, sell, and trade goods efficiently

Answer: C, it allows people to more easily buy and sell products

Explanation:

Agribusiness Systems

Test
Unt To
Act
TIERRING
012854
Which option identifies the concept being utilized in the following scenario
A cereal manufacturer is planning to improve its facility by reparing the paingots and installing
lighting for a cost of $50,000. They determine that, given a 5 percent interest rate, with a $10.000
payment, it would take them 10 years to break even
payback period analysis
time value of money analysis
discounted payback
period analysis
discount rate of return analysis


What concept is being used

Answers

Payback period analysis

EAR versus APR [LO4] Two banks in the area offer 30-year, $220,000 mortgages at 5.5 percent and charge a $3,500 loan application fee. However, the application fee charged by Insecurity Bank and Trust is refundable if the loan application is denied, whereas that charged by I.M. Greedy and Sons Mortgage Bank is not. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR, but this is not required with non fundable fees (presumably because refundable fees are part of the loan rather than a fee). What are the EARs on these two loans? What are the APRs?

Answers

Answer:

application fee. However, the application fee charged by Insecurity Bank and Trust is refundable if the loan application is denied, whereas that charged by I.M. Greedy and Sons Mortgage Bank is not. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR, but this is not required with non fundable fees (presumably because refundable fees are part of the loan rather than a fee). What are the EARs on these two loans? What are the APRs?

Match the type of teams to the scenario that portrays each of them.
traditional work teams

flexible work teams

self-managed teams

lean production teams

Sara loves working with her team. Each member is involved in some of the
decision-making activities. Her supervisor works as a part of the team and
sometimes alongside them when the situation requires it.

At Sam's workplace, he is a part of a team that reports to a supervisor. There is
no interdependence on the team, and each member has individual goals to
accomplish

At Tina's workplace, she is a part of a team that follows a standard operating
procedure, and their work is production-based. She has no say in management
activities.

Roy and his team members are highly involved in all the team activities and
decision-making activities at work. Each member has the liberty to choose the
work process that suits him or her best. Their supervisor facilitates the team's
requirements

Answers

Matching the type of teams to the best scenarios that portray them will be as follows:

Types of Teams                   Portraying Scenarios

Traditional work teams       C. At Tina's workplace, ...

Flexible work teams            A. Sara loves working ...

Self-managed teams           B. At Sam's workplace, ...

Lean production teams      D. Roy and his team members ...

The characteristics of teams are enumerated below:

Traditional work teams: individuals have shared processes and goals. Flexible work teams: there is greater flexibility in the working pattern. Self-managed teams: individuals are focused on their different objectives. Lean production teams: make quick decisions that benefit the company.

Thus, various work teams can be instituted, with each type achieving specific purposes.

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why do you think there is such a variety of industries involved with plants?

Answers

Because plants give us oxygen and that helps us breathe better

Why is a tariff imposed

Answers

impose tariffs to raise revenue or to protect domestic industries

Luther is a successful logistical services firm that currently has $5 billion in cash. Luther has decided to use this cash to repurchase shares from its investors, and has already announced the stock repurchase plan. Currently Luther is an all equity firm with 1.25 billion shares outstanding. Luther's shares are currently trading at $20 per share.The market value of Luther's non-cash assets is closest to:

Answers

The non-cash assets of Luther is closest to a market value of $20 billion.

Based on the accounting equation that Assets = Liabilities + Equity, the non-cash assets can also be determined as follows:

Non-cash Assets + Cash = Liabilities + Equity (market value)

Non-cash assets = 0 + $25 billion - $5 billion

Non-cash assets = $20 billion.

Data and Calculations:

Available cash = $5 billion

Number of equity shares = 1.25 billion

Current market price per share = $20

Market value of Equity = $25 (1.25 billion x $20)

Non-cash assets = $20 ($25 - $5) billion

Thus, Luther's non-cash assets has a market value of $20 billion.

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Suppose that Markus Braun was trying to decide where he should open businesses next. He wants to make a rational decision. What should be his first step in making that decision?

a . Define the problem.
b. Generate alternative courses of action.
c, dentify criteria for judging the decision.
d. Compute the optimal decision.

Answers

Markus Braun's first step in making a rational decision is a. Define the problem.

The definition of the problem of where to open businesses will enable Markus to:

Establish critical decision criteria that will be used to adjudge the different choices.

Ascertain and evaluate the optimal locations that will meet his investment requirements.

Six decision-making processes identified for achieving satisfactory outcomes include:

Step 1 is the Identification of the Problem Step 2 is the Establishment of the Decision Criteria Step 3 is the Weighing of the Decision Criteria Step 4 is the Generation or Identification of Alternatives Step 5 is the Evaluation of Alternatives Step 6 is the Selection of the Best Alternative

Thus, wherever these processes are followed, the probability of achieving favorable outcomes become higher.

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