{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T04:41:46-04:00", "answer_date": "2024-06-28 04:41:46", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4240987", "url": "\/study-help\/questions\/question-15-designated-market-value-ais-always-the-middle-value-4240987", "question_creation_date_js": "2024-06-28T04:41:46-04:00", "question_creation_date": "Jun 28, 2024 04:41 AM", "meta_title": "[Solved] QUESTION 15 Designated market value a.is | SolutionInn", "meta_description": "Answer of - QUESTION 15 Designated market value a.is always the middle value of replacement cost, net realizable value, and net re | SolutionInn", "meta_keywords": "question,15,designated,market,value,middle,replacement,cost,net,realizable,less,normal", "question_title_h1": "QUESTION 15 Designated market value a.is always the middle value of replacement cost, net realizable value, and net realizable value less a normal profit margin.", "question_title": "QUESTION 15 Designated market value a.is always the middle value of replacement", "question_title_for_js_snippet": "QUESTION 15 Designated market value a is always the middle value of replacement cost, net realizable value, and net realizable value less a normal profit margin b should always be equal to net realizable value c may sometimes exceed net realizable value d should always be equal to net realizable value less a normal profit margin QUESTION 16 The floor to be used in applying the lower of cost or market method to inventory is determined as the a net realizable value b net realizable value less normal profit margin c replacement cost d selling price less costs of completion and disposal QUESTION 17 Oslo Corporation has two products in its ending inventory, each accounted for at the lower of cost or market A profit margin of 30 on selling price is considered normal for each product Specific data with respect to each product follows Product 1Product 2 Historicalcost$40 00$70 00 Replacementcost45 0054 00 Estimated cost todispose10 0026 00 Estimated sellingprice80 00130 00 In pricing its ending inventory using the lower of cost or market, what unit values should Oslo use for products 1 and 2, respectively a $40 00 and $65 00 b $46 00 and $65 00 c $46 00 and $60 00 d $45 00 and $54 00 QUESTION 18 Which of the following principles best describes the conceptual rationale for the methods of matching depreciation expense with revenues a immediaterecognition b partialrecognition c associatingcause andeffect d systematic and rationalallocation QUESTION 19 Hart Company purchased a depreciable asset for $360,000 The estimated salvage value is $24,000, and the estimated useful life is 8 years The double declining balance method will be used for depreciation What is the depreciation expense for the second year on this asset a $42,000 b $63,000 c $67,500 d $90,000 QUESTION 20 On January 1, 2012, Graham Company purchased a new machine for $2,100,000 The new machine has an estimated useful life of nine years and the salvage value was estimated to be $75,000 Depreciation was computed on the sum of the years' digits method What amount should be shown in Graham's balance sheet at December 31, 2013, net of accumulated depreciation, for this machine a $1,695,000 b $1,335,000 c $1,306,666 d $1,244,250", "question_description": "
QUESTION 15<\/strong><\/p> <\/strong><\/p> QUESTION 16<\/strong><\/p> <\/strong><\/p> QUESTION 17<\/strong><\/p> QUESTION 18<\/strong><\/p> <\/strong><\/p> QUESTION 19<\/strong><\/p> <\/strong><\/p> QUESTION 20<\/strong><\/p>