I calculated required 1 correctly but need help with the calculations for “required 2” Required:1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to(a) individual products, (b) product categories, and (c) total inventory.2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of theLCNRV applications in requirement 1.O Answer is not complete.Complete this question by entering your answers in the tabs below.Required 1Required 2Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of theLCNRV applications in requirement 1. (Do not round intermediate calculations. If no entry is required for a transaction/event,select "No journal entry required" in the first account field.)NoTransactionGeneral JournalDebitCreditCost of goods soldInventoryCost of goods soldInventory33Cost of goods soldInventory Problem 9-2 (Algo) Lower of cost or net realizable value; by product, category, and total inventory [L09-1]Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventoryis as follows:NetInventory,by Product CategoryPer UnitRealizableQuantityCostValueTools:Hammers120280$ 5.8010.80$6.309.803.40SawsScrewdrivers3802.80Paint products:1-gallon cansPaint brushes5806.805.801204.805.30Required:1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to(a) individual products, (b) product categories, and (c) total inventory.2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of theLCNRV applications in requirement 1.Answer is not complete.Complete this question by entering your answers in the tabs below.Required 1Required 2

The accounting standards state that inventories should be reflected at a lower cost or net…

Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Net Inventory, by Product Category Tools: Per Unit Realizable Quantity Cost Value Hammers $ 5.80 10.80 120 $6.30 Saws 280 9.80 Screwdrivers 380 2.80 3.40 Paint products: 1-gallon cans Paint brushes 580 6.80 5.80 120 4.80 5.30 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2

Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Net Inventory, by Product Category Tools: Per Unit Realizable Quantity Cost Value Hammers $ 5.80 10.80 120 $6.30 Saws 280 9.80 Screwdrivers 380 2.80 3.40 Paint products: 1-gallon cans Paint brushes 580 6.80 5.80 120 4.80 5.30 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sherise Saad, Kait Steven, and Jed Pert have formed a partnership. Saad invested $110,000, Steven $192,500, and Pert $247,500. Saad will manage the store, Steven will work in the store three-quarters of the time, and Pert will not work in the business. Required Requirement 1. Compute the partners' shares of profits and losses under each of the plans listed. a. Net loss is $73,500, and the partnership agreement allocates 40 percent of profits to Saad, 35 percent to Steven, and 25 percent to Pert. The agreement does not discuss the sharing of losses. Complete the following table to calculate the allocation of net loss. (Use a minus sign or parentheses for net loss amounts. Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Total (net loss) Allocation to partners: Saad Steven Pert Total Net loss left to allocate Net loss to partners Saad, Steven, and Pert Allocation of Profits and Losses Saad Steven Pert Total Required C a. 1. Compute…
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The answer 417,974.94 was correct. Can you please help me solve without technology? Formulas used, etc. Thank you!
You guys provided me an expert answer? Cuz the table for the part 1 of the p missing as well on volum PR what do i enter? and the part 2 has a table but c utilized.
Will you please provide the formulas (explanation) to understand the results or numbers that were added in the solution?
PLEASE, WRITE THE SOLUTIONS ON PAPER, EXPLAINING THE ENTIRE PROCESS, THE ONLY AND CORRECT ANSWERS ARE FOR (i) V(t) = exp (-2e^0.02t + 2 ) for 0 15 (i) Derive, and simplify as far as possible, expressions in terms of t for V(t), where V(t) is the present value of a unit sum of cash flow made at time t. You should derive separate expressions for the three sub-intervals. (ii) Hence, making use of the result in part (i), calculate the value at time t = 3 of a payment of £2,500 made at time t = 15. (iii) Calculate, to the nearest 0.01%, the constant nominal annual rate of interest convertible half-yearly implied by the transaction in part (ii). (iv) Making use of the result in part (i), calculate the present value of a payment stream p(t) paid continuously from time t = 15 to t = 20 at a rate of payment at time t given by: p(t) = 300e 0.02t
Please answer ASAP if you can please. Thank you! Please Please write expression or formula used Set up expression initially with functional notation (e.g.,(P/F,I,n))
This is not clear please make it clear in coherent writing with calculations provided
solve it using this method: S2 = (((1+S1)*(1+F2))1/2 )– 1 S3 = ((1+S1)*(1+F3)) 1/3 - 1 P = 50/(1+S1)+50 / (1+S2) 2 + 1050 / (1+S3) 3 and find the value of p
What is the name of this formula: (1/1+r)^t?
Make sure to calculate the NPV correctly! The previous answer was wrong!
Can you please show the mathematical breakdown of computing the IRR? I am unable to get the same result.