Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 27, 2024

Hannah has been selling laptops for $300 each that had a cost of $252. By year end the net realizable value of the laptops

Hannah has been selling laptops for $300 each that had a cost of $252. By year end the net realizable value of the laptops had fallen to $280. At what value should the company's inventory of laptops be valued on December 31 of current year? Select one: a. $252 b. $280 c. There is insufficient information to answer the question. d. $300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

More Books

Students also viewed these Accounting questions

Question

★★★★★

The population (in millions) of a country in 2015 and the expected continuous annual rate of change k of the population are given. (a) Find the exponential growth model P = Ce kt for the population...

Answered: 1 week ago

Question

★★★★★

Reconstruct Table as a leveraged lease, assuming that the lessor borrows $80,000, 80% of the cost of the bus, nonrecourse at an interest rate of 11%. All lease payments are devoted to debt service...

Answered: 1 week ago

Question

★★★★★

Give a "real world" example of three variables X, Y, and Z, for which you expect X and Y to be marginally associated but conditionally independent, controlling for Z.

Answered: 1 week ago

Question

★★★★★

Explain how a clinical psychologist could demonstrate a developmental perspective while assessing children or adolescents.

Answered: 1 week ago

Question

★★★★★

The Palaima City government provides postemployment health care benets to retirees. Plan members contribute between $65 and $90 per month depending on age and marital status. The government...

Answered: 1 week ago

Question

★★★★★

Given the opportunity to invest in one of the three bonds listed below, which would you purchase? Assume an interest rate of 6%. Show work, if using Excel, show formulas...

Answered: 1 week ago

Question

★★★★★

TN Communications provides cellular telephone services. The company is planning to expand into the Cincinnati area and is trying to determine the best location for its trans- mission tower. The tower...

Answered: 1 week ago

Question

★★★★★

One year ago Snare Inc., issued $100 million of 11-year bonds with a 9.5% coupon payable annually.The first coupon payment has just been paid.The bonds are callable at 105 beginning today.Floatation...

Answered: 1 week ago

Question

★★★★★

Problem 1 (20 points). In a warehouse, it is required to locate a temporary storage area for 5 shelves operations that are located in the following coordinates (1, 4), (1, 8), (1, 12), (4, 4) and (4,...

Answered: 1 week ago

Question

★★★★★

Game Z Ltd has 3 sources of capitals - Common shares, Preferred shares and corporate bonds. The market value of its common shares is $50 per share while its Preferred shares are valued at $45 per...

Answered: 1 week ago

Question

★★★★★

Multi-step Income Statements The adjusted trial balance of Mally Distributors on December 31 is shown below. MOLLY DISTRIBUTORS Adjusted Trial Balance December 31 Debit Credit $30,200 Cash Accounts...

Answered: 1 week ago

Question

★★★★★

48 Assume that the actual amount of one of a company's variable expenses was $45,198. The company's planned level of activity was 19,000 machine-hours, and its actual level of activity was 18,500...

Answered: 1 week ago

Question

★★★★★

According to corporate policy, the average age of trade receivables and trade payables should both be 10 days and 20 days, respectively. At 30th June 2022, the Exeter hotel had trade receivables of...

Answered: 1 week ago

Question

★★★★★

**PYTHON 3** Write a LinkedList class that has recursive implementations of the add, display, and remove methods described in the lesson. It should also have recursive implementations of the...

Answered: 1 week ago

Question

★★★★★

Determine by direct integration the values of x for the two volumes obtained by passing a vertical cutting plane through the given shape of Fig. 5.21. The cutting plane is parallel to the base of the...

Answered: 1 week ago

Question

★★★★★

When Alice stops taking her medication she tends to believe she can fly. We call this a __________. See if you can fill in the blanks for each of these questions. This exercise is simply to acquaint...

Answered: 1 week ago

Question

★★★★★

The chart tells you that after the accident Mr. Cruz had retrograde amnesia for a while. That means he ________. See if you can fill in the blanks for each of these questions. This exercise is simply...

Answered: 1 week ago

Question

★★★★★

After the stroke, Mr. Torres was described as having Wernickes aphasia. That means___________. See if you can fill in the blanks for each of these questions. This exercise is simply to acquaint you...

Answered: 1 week ago

Previous Question Next Question