BUSINESS COLLEGE

Kingbird Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $146 $134 $116 $110 $134 $110 Cost 92 98 98 98 61 44 Cost to complete 37 37 31 43 37 37 Selling costs 12 22 12 24 12 24.Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2014, for each of the inventory items above.

Answers

Answer 1

Answer:

Explanation:

As we know that the inventory should be recorded at the lower cost or net realizable value whichever is lower

And, the same is shown on the attachment which is attached below:

The net realizable value for each products is computed by

= D - C - E

The DCE are the rows of the attached spreadsheet

And, the proper unit value for each products is as follows

Product Lower of cost or NRV

D 92

E 75

F 73

G 43

H 61

I 44

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Use the following classification to determine which category each of the following goods falls into. Goods Private Good Club Good Common Resource Public Good Museums that require admission fees Public swimming pools with free admission during summer Metered parking at a municipal parking lot Flood control Public basketball courts

Answers

Answer:

swimming pool is public good. basketball court public good. museums with admission fee are club good, metered parking public good. flood control public good

Explanation:

Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) are as follows, along with the book value of Bullen's accounts:Bullen Book Value Vicker Book Value Vicker Fair Value
Retained earnings, 1/1/20 $250,000 $240,000
Cash and receivables 170,000 70,000 $70,000
Inventory 230,000 170,000 210,000
Land 280,000 220,000 240,000
Buildings (net) 480,000 240,000 270,000
Equipment (net) 120,000 90,000 90,000
Liabilities 650,000 430,000 420,000
Common stock 360,000 80,000
Additional paid-in capital 20,000 40,000

Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shares of Vicker. What will be the consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2018 balances) as a result of this acquisition transaction?

(A) $524,000 and $420,000.
(B) $60,000 and $250,000.
(C) $524,000 and $250,000.
(D) $60,000 and $490,000.
(E) $380,000 and $250,000.

Answers

Answer:

The answer is (c)$524,000 and $250,000...the explanation is attached below

Explanation:

If a purchasing agent must put up a cash deposit for construction services, for security purposes, instead of giving it directly to the contractor, he or she may insist that it be placed in a(n):

Answers

Answer:

Escrow account

Explanation:

An escrow account is a type of account in which a third party helds a certain amount of money while two parties complete a transaction. This is used to protect people from fraud when they are involve in transactions like purchasing a house as both parties can trust that the money is safe and the third party only provides the funds when they agree with everything and are happy with the results.

According to this, the answer is that if a purchasing agent must put up a cash deposit for construction services, for security purposes, instead of giving it directly to the contractor, he or she may insist that it be placed in an escrow account because the money would be safe and it would be maintained by a third party that will provide the funds when the services are complete.

A loan of $100,000 is taken out which requires an annual interest payment of 6% of the borrowed amount of money (in market dollars). No principal payments are made, only interest is paid. Inflation is 3.1% per year. what will be the value of interest payment at the end of fifth year in real dollars?A. $5,930 B. $6,000 C. $5,150. D. $6.989

Answers

Answer:

C. $5,150

Explanation:

Calculation for what will be the value of interest payment at the end of fifth year in real dollars

First step is to calculate the Interest amount per year

Interest amount per year = 100,000*6%

Interest amount per year = $6,000

Now let calculate the value of interest payment at the end of fifth year in real dollars

Value of interest payment in 5th year in real dollars = 6,000/(1+3.1%)^5

Value of interest payment in 5th year in real dollars= 6,000/1.164913

Value of interest payment in 5th year in real dollars= $5,150

Therefore the Value of interest payment in 5th year in real dollars will be $5,150

Sweet Treats sells ice cream cones for $4.25 per customer. Variable costs are $1.25 per cone. Fixed costs are $3,300 per month. What is the company's contribution margin ratio?

Answers

Answer:

Company's contribution margin ratio is 70.59%

Final answer:

The contribution margin ratio for Sweet Treats is calculated by subtracting the variable cost per cone from the selling price per cone to get the contribution margin per cone. This is then divided by the selling price per cone to get the Contribution Margin Ratio, which is 70.59%.

Explanation:

To calculate the contribution margin ratio for Sweet Treats, we first need to determine the contribution margin per cone. This is done by subtracting the variable cost per cone ($1.25) from the selling price per cone ($4.25), which gives us a contribution margin of $3.00 per cone.

Then, the Contribution Margin Ratio is calculated by dividing the contribution margin per unit by the selling price per unit. In our case, the selling price per cone is $4.25 and our contribution margin per cone is $3.00. Therefore:

Contribution Margin Ratio = ($3.00/$4.25)×100% = 70.59%.

So, for Sweet Treats, the contribution margin ratio is 70.59%. This means that for each cone sold, 70.59% of the sales price is contributed to covering fixed costs after variable costs have been paid. Once the fixed costs are covered, the remaining amount goes into profit.

Learn more about Contribution Margin Ratio here:

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A bond with a coupon rate of 5.16 percent and semiannual coupon payments matures in 12 years. The YTM is 6.37 percent. What is the effective annual yield?