A company selling designer watches bought 400 for 60 each. Normal selling price is 100 per watch,

Question:

A company selling designer watches bought 400 for £60 each. Normal selling price is

£100 per watch, but a change in fashion has resulted in all the watches being saleable at only £30 each, after a different strap, costing £2 each, has been fitted to them. How should the stock of watches be valued?

a. £11,200

b. £24,000

c. £39,200

d. £12,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction To Accounting And Finance

ISBN: 9780273711629

2nd Edition

Authors: Geoff Black

See More Books

Question Posted: May 31, 2024 03:09 AM

See More Questions

In the article on the Halo effect, experimenters manipulated the likability of the professor, then they measured how participants evaluated the attractiveness of the professor's accent, mannerisms,...
Explain the types of exposure you believe would be present if the company did not have multiple manufacturing sites (e.g., transaction, translation, and economic)
Using these data from the statement of financial position, prepare a horizontal analysis using 2015 as a base year. Accounts receivable Inventory Total assets 30 June 2017 $ 800 000 950 000 4600 000...
Which description does NOT fit in description of "issues" in the context of international standards? a. An unsettled matter. b. A vital matter. c. A change in the environment. d. A concern or...
There are 25 cells with no molecules, 21 with one molecule, 19 with two molecules, and 15 with three molecules. Suppose that the number N of molecules of toxin left in a cell after 10.0 min is...
A sample of the paramagnetic salt to which the magnetization curve of Fig. 32-14 applies is held at room temperature (300 K). At what applied magnetic field will the degree of magnetic saturation of...
12. Repeat the previous problem, only assuming that defaults are perfectly correlated.
For the coming year, Loudermilk Inc. anticipates fixed costs of $ 600,000, a unit variable cost of $ 75, and a unit selling price of $ 125. The maximum sales within the relevant range are $...
An imvestor purchased shares in a growth mutual fund 3 years ago. The returns uere 22%-10% , 14% , respectively. The geometric average retura over the thiree jears is closest tos\ (a) 7.77% \ (b)...
What is a doubtful debt? a. A debt where there is some hope of getting paid b. A debt where there is no hope of getting paid c. A debt which is bad d. A debt where the customer has queried an invoice
A company starts business on 1 January. In that month it buys 300 grecks at 40 each, then 200 at 50 each. On the last day of the month it sells 400 grecks. If it uses FIFO to value stock, what is the...
What are the criteria for the number of iterations such that Jacobis method is faster than Gauss elimination for solving a linear problem that is not banded?
MTB Surfboards has a P / E of 2 0 . The discount rate for this firm is 3 0 percent. They had earnings of $ 2 , 0 0 0 , 0 0 0 and 1 0 0 , 0 0 0 shares of common stock outstanding. What should be the...
Question 4 (20 marks) Laboratory 4: Superposition Theorem Objectives: 1. Understand the principles of a Superposition Theorem 2. Determine the characteristics of a Superposition Theorem...
2 Ursala, Inc., has a target debt-equity ratio of .65. Its WACC is 10.4 percent, and the tax rate is 23 percent. a. If the company's cost of equity is 14 percent, what is its pretax cost of debt? b....
Thinking about Nike's corporate practices, discuss your approach to starting a company that outsourced labor in order to reduce manufacturing costs. What decisions would you make to combine...
Owen Properties recently purchased a building in a community that is eligible for participation in the National Flood Insurance Program (NFIP). Under the regular program of the NFIP, the maximum...
Carson Company has four separate operating segments: What revenue amount must one customer generate before it must be identified as a major customer? a. $37,600. b. $41,200. c. $46,400. d.$56,400....
Explain the term global capital markets. This chapter primarily discusses global equity markets. What other types of financial instruments are traded in these markets? How important are global...
crane Inc. common chairs currently sell for $30 each. The firms management believes that it's share should really sell for $54 each. If the firm just paid an annual dividend of two dollars per share...
Determine the simple interest earned on $10,000 after 10 years if the APR is 15%
give me an example of 10 transactions from daily routine that we buy and put for me Liabilities + Owners' Equity + Revenues - Expenses

A company selling designer watches bought 400 for 60 each. Normal selling price is 100 per watch,

Question:

Step by Step Answer:

Introduction To Accounting And Finance

Students also viewed these Business questions