Business, 13.06.2020 00:57 KarlaOsorio7779

At December 31, 2020, Nash Company has outstanding noncancelable purchase commitments for 32,800 gallons, at $4.20 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material inventory at cost or market, whichever is lower. a) Assuming that the market price as of December 31, 2020, is $3.78, record the journal entry. b) Give the entry in January 2021, when the 32,800-gallon shipment is received, assuming that the situation given in (b2) above existed at December 31, 2020, and that the market price in January 2021 was $3.78 per gallon. Prepare the journal entry for when the materials are received in January 2021.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:50

You have $22,000 to invest in a stock portfolio. your choices are stock x with an expected return of 11 percent and stock y with an expected return of 13 percent. if your goal is to create a portfolio with an expected return of 11.74 percent, how much money will you invest in stock x? in stock y?

Answers: 2

Answer

Business, 22.06.2019 07:10

1. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount of unearned interest. 2. the healthy pantry bought new shelving and financed $7,300 with 36 monthly payments of $267.65 each. suppose the firm pays the loan off with 13 payments left. use the rule of 78 to find the amount necessary to pay off the loan. ! i entered 967.82 for question 1 and 5,455.78 for question 2 and it said it was

Answers: 3

Answer

Business, 22.06.2019 12:00

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?

Answers: 3

Answer

Business, 22.06.2019 12:30

Suppose a holiday inn hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel, average daily room rents of $50, and average variable costs of $10 for each room rented. it operates 365 days per year. the amount of operating income on rooms, assuming an occupancy* rate of 80% for the year, that will be generated for the entire year is *occupancy = % of rooms rented

Answers: 1

Answer

You know the right answer?

At December 31, 2020, Nash Company has outstanding noncancelable purchase commitments for 32,800 gal...

Questions

Business, 04.02.2022 14:00

What are the activities included in the 4e framework for digital marketing?....