Which of the following is an advantage of the periodic inventory system?A. frequent physical inventory countsB. cost prohibitiveC. time consumingD. real-time information for managers

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A: Solution Accounting cycle is a collective process of identifying , analyzing and recording the accou...

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A: Worksheet is a 10 column sheet under which first all unadjusted general ledger balances are shown, t...

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A: Income Tax - The federal, state, and municipal governments levy taxes on the gross income of people,...

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A: Lessee is the person to whom the asset has been granted to be used up to a certain lease period on t...

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A: Cost of Investements in Samer co = 1,50,000 + Retained Earnings portion     ( 25,000 - 10000) x 30 %...

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A: Solution Consolidated shareholder's Equity Means The total assets of the company and its consolidate...

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A: Tax: It implies to a financial levy that is imposed by the government on the taxpayer so as to finan...

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A: Information Capital Ratio Cost of capital Long-term liabilities 40% 10% Preferred stock 30% 1...

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A: We have to make adjustments of the information provided in the question to arrive at the unadjusted ...

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A:

Q: 2017 2018 366,939 323,664 55,671 41,546 231,261 202,930 135,678 120,734 106,150 103,013

A: The answer has been mentioned below.

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A: Flexible budget is that type of budget which changes with change in activity level. This type of bud...

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A:   The journal entries are prepared to keep the record of day to day transactions of the business. Th...

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A: Modified internal rate of return is the rate at which the value of latest cash inflow is equal to th...

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A: Lets understand the basics. Trial balance is as the name suggest always balance each other. In other...

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A: No ,Precilla is not behaving in professional manner.   It has an impact on stakeholder interests. Ac...

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A: The non cash assets invested by partners are recorded at fair value in the market instead of book va...

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A: Head office means from where the company mainly operate and all branches are controlled from that po...

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A: Consolidated financial statement:- It is the financial statement in which the income & expenses,...

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A: A bond is a fixed-income security that represents a borrower's loan from a lender (typically corpora...

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A: Comment-Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the questi...

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A: The question is based on the concept of Lease Accounting.  

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A: Partnership refers to the form of business in which two or more partners are ready to manage and ope...

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A: Formula: Break even point in units = Fixed cost / unit Contribution margin

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A:                                 Working Note :-                                   Optional standard ...

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A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...

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A: Expected earnings before interest and taxes = Current Earnings before interest and taxes - (Current ...

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A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: e fo

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A: Debit and credit are two sides of the account, used in accounting. For all assets, expenses and with...

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A: The correct calculation of the above question is given in the following steps for your reference. 

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A: Solution: Consolidated Financial Statements are: 1. The financial statements of a group presented as...

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A: Formula: Total contribution margin = Sales revenue - variable expenses

Q: Give its worksheet, balance sheet, income statement

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A: Solution Working note Calculation of the actual quantity of material purchased  Favorable Material p...

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A: Warranty refers to a promise or guarantee given by the seller or manufacturer of a product to its cu...

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.