Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 03, 2024

NET Computers sold 20 modems for $60 on 30 April. At that date, the stock card for the modems sold had a total of

NET Computers sold 20 modems for $60 on 30 April. At that date, the stock card for the modems sold had a total of 50 modems on hand at an average cost of $45.50 each. What is the cost of the modems recognised in the statement of financial performance? Assume the weighted average method of costing is used.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Answer To calculate the cost of the modems recognized in the statement of financial performance usin... blur-text-image

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

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

10th edition

78025621, 978-0078025624

More Books

Students also viewed these Finance questions

Question

The accuracy of the gross profit method of estimating inventory depends on Select answer from the options below whether the gross profit percentage on sales is higher than the markup percentage. the...

Answered: 1 week ago

Question

4 . A ( n ) is a detailed study of the operating expense section of a company's profit and loss statement. A . Sales volume analysis. B . Marketing audit. C . Marketing cost analysis. D ....

Answered: 1 week ago

Question

★★★★★

Select the correct answer for each of the following questions. 1. On December 31, 20X7, Judy a fully vested participant in a company-sponsored pension plan. According to the plans administrator, Judy...

Answered: 1 week ago

Question

★★★★★

Two bars AB and BC of negligible weight are attached to a single spring of constant k that is unstretched when the bars are horizontal. Determine the range of values of the magnitude P of two equal...

Answered: 1 week ago

Question

★★★★★

Does music improve sleep quality? To find out, researchers studied 94 students ages 19 to 29 years. The students were divided into three groups. The first group listened to relaxing classical music...

Answered: 1 week ago

Question

★★★★★

Nicks Novelties, Inc., is considering the purchase of electronic pinball machines to place in amusement houses. The machines would cost a total of $300,000, have an eight-year useful life, and have a...

Answered: 1 week ago

Question

★★★★★

3. Model strategies for students. Talk about how you handle anger, disappointment, or anxiety.

Answered: 1 week ago

Question

★★★★★

Develop an outline (major headings and subheadings only) for a project management plan to create a Web site for your class, and then fill in the details for the introduction or overview section....

Answered: 1 week ago

Question

★★★★★

Task 0 1 ( 1 5 points ) Task 0 2 ( 1 5 points ) Write a Bash script that takes an unspecified ( unlimited ) number of command - line arguments ( parameters ) , where each represents a filename. The...

Answered: 1 week ago

Question

★★★★★

please answer it correctly the answer isn't 77.5 I tried it but it is not working Three charges are arranged as shown in Figure P15.11. Find the magnitude and direction of the electrostatic force on...

Answered: 1 week ago

Question

★★★★★

1. You have been asked to review the valuation of Santiago Cement, a small Peruvian cement company, by an M&A analyst, for acquisition by a US cement company. The analyst has estimated a value of 1...

Answered: 1 week ago

Question

★★★★★

An owner investment of a building, valued at $100,000 with an $80,000 outstanding mortgage, transferring this asset into the business would O A. increase shareholders' equity by $20,000 OB. increase...

Answered: 1 week ago

Question

★★★★★

Politics ____ a set of activities performed in every country. is are A and B some other option

Answered: 1 week ago

Question

★★★★★

For a set of 70 coin flips, we record 21 heads and 49 tails. 1) If p is the true probability of heads, what is our best estimate for p here? 2) What is our best estimate for the standard deviation

Answered: 1 week ago

Question

★★★★★

Question 1 Corinth Biotech Limited (CBL) started operations in January 2018. CBL reports under IFRS. The following activities occurred during the year: 1. On January 31, 2018, the shareholder, John...

Answered: 1 week ago

Question

★★★★★

The Property Development Group (PDG) is considering the purchase of a large commercial property block in central Paris. The cost of the property is E5.6 Billion and the anticipated act rental income...

Answered: 1 week ago

Question

★★★★★

Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2012 is: Joint cost of production in July 2012 was $50. A...

Answered: 1 week ago

Question

★★★★★

Items 1. Put option 2. Notional amount 3. Intrinsic value 4. Underlying 5. Gains or losses on cash flow hedges 6. Foreign currency hedge 7. Fair value hedge 8. Call option 9. Effectiveness 10. Time...

Answered: 1 week ago

Question

★★★★★

Turner Company purchased 70 percent of Split Company's stock approximately 20 years ago. On December 31, 20X8, Turner purchased a building from Split for $300,000. Split had purchased the building on...

Answered: 1 week ago

Question

★★★★★

Ball Corporation purchased 30 percent of Krown Companys common stock on January 1, 20X5, by issuing preferred stock with a par value of $50,000 and a market price of $120,000. The following amounts...

Answered: 1 week ago

Question

★★★★★

9. Lots of Highways The number of miles of U.S. urban roadways (millions of miles) for the years 20002015 is reported below.6 The years are simplified as years 0 through 15. a. Draw a scatterplot of...

Answered: 1 week ago

Question

★★★★★

calculate the coefficient of determination, r2. What information does this value give about the usefulness of the linear model? x-2 -2-101 7. x 2 1 1 3 5 5

Answered: 1 week ago

Question

★★★★★

calculate the coefficient of determination, r2. What information does this value give about the usefulness of the linear model? 8. x 1 2 3 4 5 6 y 5.6 4.6 4.5 3.7 3.2 2.7

Answered: 1 week ago

Previous Question Next Question