Presented below is information related to Rembrant Inc.'s Inventory. Per Unit Skis Historical Cost $ 190.00 Selling price $212.00 Cost to Sell $ 19.00 $32.00 Cost to Complete Determine the following: (a) the net realizable value for skis (b) the carrying value of Skis under LCNRV.
Q: A company purchased 100 units solve this accounting questions
A: Weighted Average MethodDate Purchases Sales Balance…
Q: Please given answer
A: Step 1: Define AssetsAssets are the items presented in the Balance sheet of a company to which the…
Q: I won't this question answer general accounting
A: Step 1: Define Payback PeriodThe payback period refers to the period in which the project pays back…
Q: Provide answer please
A: 1. Calculate Variable Cost Per UnitThe formula for the variable cost per unit is: Variable Cost Per…
Q: Hii expert please provide correct answer this general accounting question
A: Step 1: Define Gain or Loss on the Sale of an AssetLong-term assets are generally carried on the…
Q: Financial Accounting Question please solve
A: Step 1: Define Note PayableNote payables indicate the amount borrowed by a company from the lenders.…
Q: Please given correct answer financial accounting
A: (a) Other Comprehensive Income:• Step 1: Identify the actuarial liability gains • Step 2: Identify…
Q: Wanted This General Account solution ASAP
A: Variable production cost per unit = Total variable production cost / Total production cost in…
Q: Creswall corporation fixed monthly expenses solve this accounting questions
A: Step 1: Calculate the Contribution Margin• Contribution Margin = Sales × Contribution Margin…
Q: I won't to this question answer general Accounting
A: Step 1: Define Accounts receivableIt refers to money from a buyer to a seller that has not yet paid…
Q: Best options please with explanation
A: The correct answer is:c. measure the total deferred tax asset for deductible temporary differences…
Q: 9 During the past year Heart Company had a net income of $175,000. What is the ROI if the…
A: Here's how to calculate the ROI:Given:Net Income = $175,000Investment = $25,000Use the ROI formula:…
Q: provide solution
A: The overstatement of ending inventory by $36,000 at December 31, 2012, has a significant impact on…
Q: Do fast answer of this general accounting question
A: Detailed explanation:Monthly Fixed Overhead Cost = highest activity cost - ( variable cost per…
Q: Subject - General Account:-Mogul Company ships merchandise to Ski Outfit in a consignment…
A: Determine the inventory value that Mogul Company will report at year-end, we focus on the inventory…
Q: I need this question answer financial accounting
A: Step 1: Define Variable CostsVariable costs contribute to the majority of the product cost, as they…
Q: I need this question general accounting
A: Unrealized gains will be added to net income in the comprehensive income statement on an after-tax…
Q: When should dynamic allocation models replace static methods? a) Changes create confusion b) Fixed…
A: Approach to solving the question:Freeform Detailed explanation: The reason c) Changing business…
Q: The actual cost of direct labor solve this question
A: Step 1: Define Standard CostingStandard costing refers to the analysis of budgeted or standard cost…
Q: Answer needed in this account problem
A: Let me solve this using only the given information:1) Given facts: Corporate tax rate = 34% 2005…
Q: Financial accounting
A: Step 1: Define Note PayableNote payable can be reported on the balance sheet of a company and…
Q: Assume that Stanford CPAs encountered the following issues during its various audit engagements for…
A: 1. Luck (New Client) - Comparative Financial StatementsOpinion on the Financial Statements…
Q: I want to correct answer accounting questions
A: Step 1: Calculation of total unrealized gainFair value per share on December 31, Year 1 =…
Q: Wind Fall, a manufacturer of leaf blowers, began operations this year. During this year, the company…
A: To compute net income under variable costing, we must account for variable production costs, fixed…
Q: Can you please give me true answer the accounting question?
A: Step 1: Define Accumulated DepreciationAccumulated depreciation refers to the cumulated expense that…
Q: Perfect Answer give. @general account
A: First, determine the number of units sold. This would help us calculate the cost of goods sold for…
Q: I want to correct answer general accounting
A: Step 1: Identify the Formula for Gross ProfitStep 2: Identify the Given ValuesStep 3: Apply the…
Q: Provide answer this financial accounting question
A: Step 1: Define Standard CostingStandard costing is a type of cost accounting that uses predetermined…
Q: Please given answer general Accounting
A: Step 1: Calculate Average Accounts ReceivableAverage Accounts Receivable = (Beginning Accounts…
Q: I don't need ai answer accounting questions
A: 1% for 45 days needs to be converted to annual rate (365 days)Formula = (Discount % × 365) / (Days…
Q: Financial Account Questions
A: Step 1: Calculate Cost of Goods Sold (COGS)Gross Profit = Net Sales - COGS (Arrange the formula to…
Q: Accounting
A: Step 1: Define Maturity DateThe maturity date is the day on which the principal amount and unpaid…
Q: tell me correct answer
A: The correct answer is:a) Interrelated factors demand comprehensive evaluation Cross-dimensional…
Q: Choose best option. Tagline is. General account
A: To determine the total period cost under variable costing, we must include all fixed costs and…
Q: General Accounting: What role do verification hierarchies play in evidence evaluation? a) Single…
A: Explanation of Verification Hierarchies: Verification hierarchies are structured frameworks used in…
Q: I need this question answer general accounting
A: Step 1: Define Trade CreditsTrade credits are the amount a business owes to its suppliers, and is a…
Q: Provide correct option general accounting
A: Step 1: Find Average Accounts Receivable• Average Accounts Receivable = (Accounts Receivable at…
Q: Provide correct option is general accounting
A: Step 1: Define Return on Assets and EquityReturn on assets and return on equity are profitably…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Beginning InventoryThe formula to calculate Cost of Goods Sold (COGS)…
Q: Hello teacher please help me Accounting question
A: Step 1: Define Materials Price VarianceThe materials price variance is the one standard cost…
Q: Hi tutor give me answer this general accounting question
A: Step 1: Define Cost of Goods Sold Cost of Goods Sold (COGS) refers to the direct costs incurred by a…
Q: What was the inventory turnover for Resale sports for 20X3 for this financial accounting question?
A: Step 1: Define Inventory TurnoverInventory turnover is used to determine the frequency of the change…
Q: Correct answer? ? General Accounting
A: Step 1: Define Receivable TurnoverWe determine the receivables turnover to count the number of times…
Q: Do fast answer of this accounting questions
A: To determine the conversion value of a convertible bond, we need to use the following formula:…
Q: Given answer accounting questions
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated by…
Q: Octagonal company has the following information for 2018: solve this general Accounting question
A: Step 1: Define Manufacturing OverheadManufacturing overhead, also known as factory overhead or…
Q: Windsor Company uses the LCNRV method, on an individual item basis, in pricing its inventory items.…
A: To determine the proper unit value for balance sheet reporting using the…
Q: Financial accounting
A: Step 1: Define Fixed-Order Quantity ModelThe fixed order quantity model is a model for controlling…
Q: Subject:- General Account
A: The LCNRV rule states that inventory should be valued at the lower of either:Cost, orNet Realizable…
Q: Given answer accounting questions
A: Step 1: Define Note ReceivableNote receivable is promissory notes which a company or individual…
General Account
Step by step
Solved in 2 steps
- Presented below is information related to Marigold Inc.'s inventory. (per unit) Historical cost Selling price Cost to sell Cost to complete Item Skis Boots Parkas Skis $228.00 $ 254.40 22.80 38.40 Boots Cost $127.20 $63.60 174.00 9.60 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2 decimal places, e.g. 52.75.) 34.80 Parkas $ 88.50 3.00 25.50 NRV $ LCNRVPresented below is information related to Bonita Inc.’s inventory. (per unit) Skis Boots Parkas Historical cost $275.50 $153.70 $76.85 Selling price 307.40 210.25 106.94 Cost to sell 27.55 11.60 3.63 Cost to complete 46.40 42.05 30.81 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.Presented below is information related to Rembrandt Inc.’s inventory. (per unit) Skis Boots Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost to sell 19.00 8.00 2.50 Cost to complete 32.00 29.00 21.25 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV.
- Presented below is information related to Tamarisk Inc.'s inventory. (per unit) Historical cost Skis Boots Parkas $342.00 $190.80 $95.40 Selling price Cost to sell 381.60 261.00 132.75 34.20 57.60 14.40 4,50 Cost to complete 52.20 38.25 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2 decimal places, e.g. 52.75.) Item Cost NRV LCNRV Skis Boots Parkas Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.3Presented below is information related to Waterway Inc's inventory. (per unit) Skis Boots Parkas Historical cost $370.50 $206.70 $103.35 Selling price 413.40 282.75 143.81 Cost to sell 37.05 15.60 4.88 Cost to complete 62.40 56.55 41.44 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. 2 decimal places, e.g. 52.75.) Item Cost NRV LCNRV Skis Boots Parkas
- Presented below is information related to Tamarisk Inc.'s inventory. (per unit) Skis Boots Parkas Historical cost $342.00 $190.80 $95.40 Selling price 381.60 261.00 132.75 Cost to sell 34.20 14.40 4.50 Cost to complete 57.60 52.20 38.25 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. (Round answers to 2 decimal places, e.g. 52.75.) Item Cost NRV LCNRV Skis Boots Parkas Click if you would like to Show Work for this question: Open Show WorkPresented below is information related to Tamarisk Inc.’s inventory. (per unit) Skis Boots Parkas Historical cost $342.00 $190.80 $95.40 Selling price 381.60 261.00 132.75 Cost to sell 34.20 14.40 4.50 Cost to complete 57.60 52.20 38.25 Determine the following: the net realizable value for each item, and the carrying value of each item under LCNRV. Item Cost NRV LCNRV Skits Boots ParkasPresented below is information related to Lush Inc’s inventory: Determine the following:a) the net realizable value for each item, andb) The carrying value of each item under LCNRV.
- Answer with correct explanation calculation clearly for all steps and answer in text formThe following information is taken from a company’s records. Costper Unit Market valueper Unit Inventory Item 1 (10 units) $40 $39 Inventory Item 2 (23 units) 20 20 Inventory Item 3 (12 units) 8 10 Applying the lower-of-cost-or-market approach, what is the correct value that should be reported on the balance sheet for the inventory?The following information is available for the Century Trading: Product A B C D Cost $102 $45 $24 $9 Estimated sales price 120 60 30 15 Estimated disposal costs 15 18 8 5 Number of units 4,000 6,000 5,500 7,200 REQUIRED: Using the lower of cost and net realizable value, determine the total inventory value to be presented in Centurys Trading's statement of financial position.