jill is 45 years old and thinks that her future tax rate will be lower than what she currently pays, so she wants to defer her taxes on her contributions of up to $6,000 in 2020. Regular IRA plan would allow her to meet her goals.
The main benefit of traditional IRAs is tax-deferred growth, which means that until you are compelled to begin taking distributions at age 72, you won't be taxed on your untaxed earnings or contributions. When investing in traditional IRAs, you put more money down front than you would in a standard brokerage account. With a Traditional IRA, your money can grow tax-free, but withdrawals are subject to ordinary income tax and you can't begin drawing distributions until you are 72. There are no income restrictions to open a Traditional IRA, in contrast to a Roth IRA. When striving to save enough money for retirement, it can be beneficial to do so via an IRA. Your money has a chance to grow, and there are tax advantages. Each little bit counts. An IRA might make sense if your employer doesn't have a retirement plan or if you work for yourself. IRAs have the ability to increase in value over time, just like all other investment forms. Annual contributions and investment growth are the two main ways an IRA can increase. There are restrictions on the maximum annual contributions that may be made, and not all long-term investments are profitable.
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in 1999, two pharmaceutical companies that held an equal market share decided to pool their operations to create a new firm that was known by a different name. this is an example of a(n):
An illustration of a merger is this. A merger is a business transaction in which two independent, presently operational businesses combine to create a single, new legal entity.
Combine is the same as merge. Both companies aim to gain from the acquisition and are frequently similar in size and scope. Company mergers, which increase the product offering, vertical mergers, which benefit from already-existing independent, and horizontal mergers, which increase market share, are the three main types of mergers. Mergers and acquisitions refer to the process by which two companies come together, either through a merger (company merger process) or by one purchasing the other to become a part of a larger company.
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Horizontal integration can ______.
Multiple choice question.
help a firm improve its strategic position in an industry
decrease the geographic scope of a firm
lower the cost of production through decreased economies of scope
A company's strategic positioning within an industry can be improved by horizontal integration.
Acquisition of a company that produces or provides comparable goods or services and operates at the same level of the value chain as the target company is known as horizontal integration. As opposed to vertical integration, which involves businesses expanding into activities upstream or downstream that are at various stages of production,
Key lesson
A business approach known as "horizontal integration" involves one company expanding its operations within a certain industry at the same rate.Horizontal integrations assist businesses in increasing their size and revenue, entering new markets, diversifying their product lines, and lowering competition.+Regulatory scrutiny, fewer consumer options, decreased internal flexibility, and the propensity to destroy value rather than generate it are drawbacks of horizontal integration.A business can horizontally integrate by joining forces with another business, purchasing another business, or growing its internal operations.Vertical integration, which involves a corporation acquiring a business that is active in the same industry but at a different step of the production process, is an alternative to horizontal integration.To learn more about horizontal integration please click on the given https://brainly.com/question/11081329
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Which of the following can provide increased disability income from your disability income policy whenever you do not qualify for Social Security disability benefits?
Social Security rider
If you do not meet the requirements for Social Security disability benefits, a Social Security rider may increase the amount of disability income covered by your disability income policy.
The price of a private disability insurance policy is reduced by a Social Security Offset rider. In accordance with the terms of the rider, if a policyholder becomes disabled, they must submit an application for Social Security Disability Insurance (SSDI) benefits.
The total benefits that would have been paid out by your private insurer will be reduced by the SSDI benefits, assuming they are approved.
It's important to note that Social Security Administration regularly rejects SSDI benefit claims. According to data, slightly more than half of people who apply for SSDI benefits are not approved. In addition to this trend, most private disability insurance plans define "disability" broadly, so you may be eligible for payments under your private disability insurance policy but not SSDI benefits from the Social Security Administration.
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Financial Statement Presentation
Olin Corp. reported the following amounts for the year just ended:
Land $90
Trademarks 16
Equipment 83
Buildings 110
Goodwill 32
Accumulated amortization 10
Accumulated depreciation 55
Prepare a partial balance sheet for these amounts.
Property, Plant and Equipment (net) Goodwill Intangible Assets
The total assets for Olin Corp. is $266 as per the partial balance sheet of the company.
A financial statement that lists a company's assets, liabilities, and shareholder equity at a certain point in time is referred to as a balance sheet. The foundation for calculating investor return rates and assessing the capital structure of a firm is provided by balance sheets.
The balance sheet is a financial statement that gives a quick overview of the assets and liabilities of a firm as well as the amount of shareholder investment. When doing basic analysis or calculating financial ratios, balance sheets can be utilized in conjunction with other crucial financial data.
Partial Balance Sheet:
Equipment $83
Buildings $110
Less: Accumulated depreciation -$55 = 193 - 55 = $138
Trademarks $16
Goodwill $32
Less: accumulated amortization: -$10 = $48 - $10 = $38
Land $90
Total Assets = $266
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) refer to the information above. plains states chooses to hedge its transaction exposure in the forward market at the available forward rate. the payoff in 6 months will be
the payoff in 6 months will be 1725000
contract sell amount=1250000
six months forward=1.38
1250000*1.38=1725000
The risk that changes in the exchange rates between currencies will have an impact on a company's operations and profitability is known as exchange rate risk. Currency fluctuation exposes businesses to three different categories of risk: transaction risk, translation risk, and economic or operational risk.
The payoff is the profit or loss from the sale of a good or service after all selling expenses, any ongoing expenses incurred over the asset's life, and any related accounting losses have been deducted.
Both homeowners and their mortgage lenders should take note of payoff statements. They list the outstanding loan balance as well as any additional fees. Whether your future goals call for total repayment or loan consolidation, this can help you move forward with them.
The question is incomplete. The full question is:
Plains States Manufacturing has just signed a contract to sell agricultural equipment to Boschin, a German firm, for euro 1,250,000. The sale was made in June with payment due six months later in December. Because this is a sizable contract for the firm and because the contract is in euros rather than dollars, Plains States is considering several hedging alternatives to reduce the exchange rate risk arising from the sale. To help the firm make a hedging decision you have gathered the following information. refer to the information above. plains states choose to hedge their transaction exposure in the forward market at the available forward rate. the payoff in 6 months will be
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based on the national debt in 2020, if the interest rate on the debt were to rise from 2% to 5%, the interest payment on the debt would rise from to of government revenue.
The interest payment on the debt would rise from 0.2 to 0.5 of government revenue.
Government revenue, often known as national revenue, is the sum of money that a government receives from taxes and other sources to fund its operations. Both government spending and revenue are essential elements of the government budget and instruments of fiscal policy.
All of the government's earnings from taxes and other sources are referred to as government revenue. Government expenses are covered by these money. The government's fiscal policy heavily relies on its revenues and expenditures.
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If jesse wants to buy a $75,000 10-year term life insurance policy, and the annual premium rate (per $1000 of face value) for his age group is $2.34, how much is jesse’s annual premium? a. $175.50 b. $3,205.12 c. $234.00 d. $1,755.00 please select the best answer from the choices provided a b c d
Jessie's annual premium for the insurance policy is $1755.
What is annual premium?A yearly premium is the sum that an insured must pay to maintain their insurance coverage over the course of a year. When the insurance company assesses your risk factors, they determine the annual premium you must pay for life insurance. Most insurance policies have a yearly premium, though occasionally you can opt for a single-premium coverage. Instead of making regular payments throughout the term of your policy, single-premium life insurance requires you to pay the total amount due in one go. Your yearly premium tells you how much you must pay to the insurance company in order to keep your policy active for the entire year.
Annual premium=1755000/1000=1755.
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(common stockholder expected return) the market price for earnest corporation common stock is $39 per share. the price at the end of 1 year is expected to be $44, and dividends for next year should be $1.25. what is the expected rate of return?
The expected rate of return when the market price for earnest corporation common stock is $39 per share is 16.03%.
What is the expected rate of return?The expected rate of return is the expected return on investment for an investor. It is calculated by estimating the probability of a full range of investment returns, with the probabilities adding up to 100%. The expected return is the amount of profit or loss that an investor can expect from an investment. An expected return is calculated by multiplying potential outcomes by the probability that they will occur and then adding the results. Returns on investment cannot be guaranteed.
Rate of return is computed as shown below:
= (Expected price at end of year 1 - current price + dividend) / current price
= ($ 44 - $ 39 + $ 1.25) / $ 39
= $ 6.25 / $ 39
= 16.03%
In conclusion, the answer is 16.03%.
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miller collected $70,000 of cash from its receivables accounts. the company estimates that it will be unable to collect 3% of its sales on account. what is the amount of uncollectible accounts expense that will be recognized on the year 1 income statement?
$29,910 - The final accounts receivable balance is $33,000 ($0 initial balance + $103,000 in revenue on account - $70,000 in collections, $3,090 is the final amount of the allowance for doubtful accounts, $33,00 - $3,090 = net realizable value of $29,910).
What is cash from receivable accounts?Receivables from customers represent a short-term obligation for them as well as cash to one's organization. How long one can wait for a customer to pay depends on the cash flow factors. The supplier reports the short-term credit as current assets on the balance sheet, which has an impact on cash flow as accounts payable.
Is cash similar to accounts receivable?Accounts receivable are, in other words, short-term lines of credit that a business owner offers to the client.
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Would you categorize the marketing area in which frank davis is the marketing director and thomas green is one of the senior market specialists more as a work group or a team?.
Operating Group Please categorize the marketing department where Thomas Green serves as a senior market specialist & Frank Davis serves as the marketing director.
What does marketing mean exactly?Marketing is a set, a network of institutions, and just a set of methods for creating, communicating, exchanging, and distributing offerings that seem to be valuable to customers, consumers, partners, and society as a whole.
Which of these four categories of marketing do they fit into?Product, pricing, place, or promotion are the four "Ps" that make up the "marketing mix" that is used to advertise a good or service. When creating marketing plans and strategies for reach people, businesses typically consider the four Ps.
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a treasury bill purchased in december 2020 has 143 days until maturity and a bank discount yield of 2.18 percent. assume a $100 face value. a. what is the price of the bill as a percentage of face value?
The price of the bill as a percentage of face value is $99.17 to percent face value of 2%.
given that :
face value = $100
discount yield = 2.18 % = 0.0218
time = 143 days
discount yield = [ (FV - P)/ P ]× (360/ d)
0.0218 = [( 100 - P )/P] × 360/143
0.0218P = (100 - P ) 2.517
0.0218 P + 2.517 P = 251.7
P = 251.7 /2.538
P = $99.17
now, the bond equivalent yield is given as :
BEY = ( face value - purchase price ) / purchase price × 360 / day
BEY = ( 100 - 99.17 ) / 99.17 × 36 / 143
BEY = 0.0083 × 2.517
BEY = 0.020
BEY to percent = 2%
Thus, the price of the bill is $99.17.
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the new testament does not affirm that the genesis account of the fall has lasting consequences. t/f
The new testament does not affirm that the genesis account of the fall has lasting consequences. given statement are false.
The New Testament (NT) is the second division of the Christian Bible. It examines Jesus' teachings and persona, as well as events in first-century Christianity. The background of the New Testament, the first division of the Christian Bible, is known as the Old Testament, which is primarily based on the Hebrew Bible; together, they are regarded as sacred scripture by Christians.
What is the main point of the New Testament?
It relates and interprets the new covenant between God and the followers of Christ, the promised Messiah, as represented by his life and death. It, like the Old Testament, contains a variety of writing styles.
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in vertical analysis of the income statement, we usually express each income statement item as a percentage of: multiple choice net income operating expenses income tax expense sales
In vertical analysis of the income statement, we usually express each income statement item as a percentage of: sales.
What is income statement?Income statement can be defined as the statement that help to show the income and expense of a company in which when the income is higher than the expense it is net income and when the expense is higher than the income it is net loss.
In vertical analysis of the income statement the income statement item is often express as a percentage of sale.
Therefore the correct option is D.
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cost of equity: sml. stan is expanding his business and will sell common stock for the needed funds. if the current risk-free rate is % and the expected market return is %, what is the cost of equity for stan if the beta of the stock is a. ? b. ? c. ? d. ?
The needed rate or return, abbreviated r, is the minimal return required by investors to invest inside a company's shares, and it is calculated using the SML approach. This is also measured at cost of equity.
What factors affect equity cost?
Factors including dividend per share, share market value, dividend, beta, risk-free gain, and anticipated market return can all have an impact on the cost of equity. Risk, risk of inflation, exchange risk, and other factors can have an impact on the cost of capital.
What causes a negative cost of equity?It occurs when a firm's liabilities outweigh its assets, or, to put it in broader financial terms, when the company has sustained losses that are bigger than the sum of all dividend payments and accrued earnings from prior periods.
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dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays. is the previous statement true or false?
The statement, dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays, is a false statement.
What is 9-1-1?
Emergency numbers in the United States, Canada, Mexico, Panama, Palau, Argentina, Philippines, Jordan, and the North American Numbering Plan (NANP), one of eight N11 codes, are 9-1-1, sometimes abbreviated as 911. This number, like others used in emergencies across the world, is only to be used in emergency situations. Most jurisdictions consider it illegal to use it for any other reason, including making prank or fake calls.
What are call centers?
A controlled capacity that can be centrally located or remote that is used for receiving or sending a high volume of phone inquiries is known as a call centre (Commonwealth spelling) or a call centre (American spelling; see spelling variants). A business runs an inbound call centre to handle incoming customer product or service support or information requests. Outbound call centres are typically used for sales activities like telemarketing, contribution solicitation for charities or political causes, debt collection, market research, emergency notice, and blood banks for urgent or critical requirements.
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dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays. is the previous statement true or false?
knowledge check when investors doubt the creditworthiness of a borrower, what should happene to the price and yield of the bond
When investors doubt the creditworthiness of a borrower Prices go down, yield go up of the bond.
What should happen to the bond's price and yield when investors question the borrower's creditworthiness?Bond yields are correlated with bond prices. Doubts about creditworthiness will simultaneously lower bond prices and raise yields. You can better comprehend this relationship by using the example below
Consider a buyer of a bond with a 10-year maturity and an 8% yearly coupon. $100 is the face value. The bond will be less appealing than alternative bonds and financial instruments paying greater interest rates if interest rates rise above 8% and the investor decides not to sell the bond.
If the bond's owner decides to sell it, the price may be lowered. This will enable the yield to be equalized between coupon payments and maturity values. The price must also be reduced by investors.
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the intersection of a firm's marginal revenue and marginal cost curves determines the level of output at which question 8 options: total revenue is equal to variable cost. total revenue is equal to fixed cost. total revenue is equal to total cost. profit is maximized.
The intersection of a firm's marginal revenue and marginal cost curves determines the level of output when profit is maximized.
What Is the relationship between Marginal Cost and Marginal Revenue?Marginal cost can be explained as the extra expense that is been incurred by a business when producing one additional product or service.
It shouyld be noted that the Marginal revenue, can be perceiuved as the incremental increase in revenue that a business experiences wshen the production of one more product or service has been achieved.
In conclusion, In economics, the marginal cost is which can be seen as the change in the total cost that comes up in a case whereby the quantity produced is incremented, as well as the cost of producing additional quantity ios very important to calculat, hence in the case above the profit is maximized.
Therefore, option D is correct.
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how do west african art traders who immigrate and sell their wares in marketplaces in new york city receive honor and prestige in their home countries?
West African art traders who immigrate and sell their items in New York City markets acquire glory and distinction in their home nations by satisfying financial commitments with remittances and start-up funding for family members.
What exactly does the term "art trader" mean?An art dealer is a person or corporation who buys and sells pieces of art or serves as a middleman between buyers and sellers.
A contemporary art dealer often searches out diverse artists to represent and cultivates ties with collectors and museums whose interests are likely to align with the work of the represented artists. Some dealers may predict market trends, and some notable dealers may be able to affect the market taste.
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crane corp. changes its inventory method from fifo to the weighted-average method. which items will be affected on the income statement? (select all that apply.)
Crane Corporation switches from the FIFO approach to the weighted-average method for managing its inventories. The income statement will be impacted by things such as net income, cost of goods sold, and earnings per share.
The main distinction between a weighted average and FIFO is that the weighted average approach utilizes average inventory levels to determine inventory value whereas FIFO uses the first acquired products to determine inventory value.
The FIFO technique is consequently better suited since it does not add the costs of the current period to those of the past period. But when using the weighted average method, costs from both the present and past eras are included. As a result, the suggested pricing is incorrect.
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communal sharing is a relationship of a. one-to-one correspondence. b. market factors. c. unity, community, collective identity, and kindness. d. asymmetric differences.
A relation of unity, community, collective identity, and kindness, typically enacted among close kin is called communal sharing.
Such relations can be found anywhere, to begin with, starting from clubs, families, ethnic groups, fraternal organizations, and any sort of social gathering.
Communal sharing is also defined as the mental representation of a social relation. This idea encompasses different aspects of norms of society like an expression of a relation or emotion by sharing food, shelter, clothes, or any asset which may or may not be valuable but definitely helpful to the other party.
In communal sharing trust and respect is earnt and showed among many other feelings.
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A taxpayer faces the following tax rates on her income: 20 percent of the first $40,000 of her income; 30 percent of all her income above $40,000. The taxpayer faces:
a. an average tax rate of 22.5 percent when her income is $30,000.
b. an average tax rate of 22.0 percent when her income is $50,000.
c. a marginal tax rate of 10 percent when her income rises from $40,000 to $40,001.
d. a marginal tax rate of 50 percent when her income rises from $60,000 to $60,001.
When the taxpayer earns $50,000, she is subject to the an average rate of taxes of 22.0 percent.
What payment is a tax?Tax Payments are cash payments for federal, state, and municipal I income, franchise, and other comparable taxes and levies levied on or measured by net income and paid or paid by or for behalf of the borrowers and its businesses or directly attributable.
What is basic tax?A whole number of assets or earnings that can be collected by a taxing body, typically the government, is referred to as the tax base. It is employed to figure out tax obligations. This can take many different forms, such as money or real estate.
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You opened several accounts with XYZ broker. Which of
the following accounts is under identical ownership as your
individual portfolio margin account?
a. Your Roth Individual Retirement Account
b. Your Individual Margin Account
c. Your Joint Account with Rights of Survivorship
d. Your Corporate Account
e. Your 401(k) Account
The same people own both your individual margin account and your individual portfolio margin account.
What exactly is a personal margin account?A "margin account" is a specific kind of brokerage account where its broker-dealer lends the user money to buy securities while using the account as collateral. While margin increases an investor's purchasing power, it also puts them at greater risk of suffering greater losses.
Are margin accounts suitable for novices?Since it's not always obvious what amount you've received from you firm and how much you have in equity, as well as the fact that it's simple to consider with all your investments as your money even if a lot of it is borrowed, it's best to avoid selling on margin, especially for new investors.
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if you are holding two identical bonds, except that one matures in 10 years and the other matures in 5 years, which bond's price will be more sensitive to interest rate risk? multiple choice question. both bonds are equally sensitive the 10-year bond the 5-year bond time to maturity does not affect interest rate risk
Both bonds are equally sensitive the 10-year bond the 5-year bond time to maturity .An interest rate is the amount of interest that is payable each period stated as a percentage of the amount that was lent, deposited, or borrowed.
The principal amount, interest rate, frequency of compounding, and length of time the loan, deposit, or borrowing was made all contribute to the total amount of interest on a loaned or borrowed sum.An interest rate provides information on how costly borrowing is or how profitable saving is. As a result, the amount you pay for borrowing money, stated as a percentage of the total loan amount, is the interest rate if you are a borrower.The interest rate, which is the proportion of the principal amount that the lender or other financial institution charges, can be calculated using the interest rate formula.
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terry worked for two employers during 2021. the amount of wages paid to terry by both employers totaled $168,400 and the employers properly withheld both income and employment taxes. as a result of terry's two jobs: a.terry will complete a new form w-4 for his second employer that will direct the employer to withhold no employment taxes. b.terry will claim an employee retention credit in 2021. c.terry will claim a credit for excess social security taxes paid on his 2021 income tax return. d.terry will receive a credit against his employment taxes in 2021 from his second employer. e.terry will file a form 843 with the social security administration to claim back excess withheld employment taxes.
As result of Terry's two jobs he will claim credit for excess Social Security taxes on his 2018 income tax return.
What is income tax?A tax known as an income tax is one that is assessed on individuals or groups of people (taxpayers) in accordance with the income or profits they have generated. To compute income tax, tax rates and taxable income are frequently multiplied. Tax rates may vary depending on the types of taxpayers and income. The tax rate may increase as the amount of taxable income does (referred to as graduated or progressive tax rates). One sort of tax that is levied against corporations is corporate tax, which is frequently calculated at a flat rate. Progressive taxation, where the tax rate increases with each new unit of income, is a common taxing method for individual income. Usually, local charitable organizations are excluded from paying taxes.
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g which of the following is an example of trade policy at the regional level? a congress passing legislation to prevent dumping b the general agreement on tariffs and trade being made c the european union adopting a common currency d the world trade organization holding a round of negotiations in france
The Congress passing legislation to prevent dumping an example of trade policy at the regional level.
What is dumping in trade policy?A scenario of international price discrimination known as "dumping" occurs when a product's price in the market of the importing country is lower than its price in the market of the exporting country. When it feels that a product is being "dumped" by being sold at a low price in the domestic market, the government puts anti-dumping duties on imports from abroad.
A home government may levy an anti-dumping charge on imports from abroad that it deems to be being sold below fair market value. One of a number of American laws intended to stop unfair trade practices is the Antidumping Act of 1921. Congress passed legislation to prevent dumping an example of trade policy at the regional level.
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which of the following statements is true? the decision to use third-party logistics can only be strategic in nature a common cause of third-party logistics failure is unreasonable and unrealistic expectations third-party logistics is synonymous with fourth-party logistics third-party logistics companies demand only a few activities from third-party logistics providers
The decision to use third-party logistics can only be strategic in nature
a common cause of third-party logistics failure is unreasonable and unrealistic expectations.
Third-party logistics: what is it?The use of third-party companies by an organization to outsource portions of its distribution, warehousing, and fulfillment services is known as third-party logistics (abbreviated as 3PL or TPL) in logistics and supply chain management. In order to meet client requests and delivery service specifications for their products, third-party logistics providers often specialize in integrated operations of warehouse and transportation services that can be scaled and modified to their needs, based on market conditions. Services frequently expand beyond logistics to include value-added services connected to the manufacture or acquisition of commodities, such services that integrate supply chain components. A supplier of these integrated services is referred to as a supply chain management service provider (3PSCM) or third-party supply chain management provider (3PSCM) (SCMSP). 3PL goals
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an individual demand curve is a graph: that plots the quantity of an item that someone plans to buy, at one single price point. that plots the market price of a product at different points in time. that plots the quantity of an item that a seller plans to sell, at each price. that plots the quantity of an item that someone plans to buy, at each price.
An individual demand curve is a graph: That plots the quantity of an item that someone is planning to buy, at each price.
Individual call for Curve: the relationship between the quantity of a product a single consumer is inclined to shop for and its price. Marketplace demand Curve: the connection among the amount of a product that every consumers within the market are willing to shop for and its price.
The demand curve is a graphical representation of the relationship among the rate of a terrific or provider and the quantity demanded for a given time frame. In a regular representation, the price will appear on the left vertical axis, the quantity demanded at the horizontal axis.
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imagine that you are the ceo of a multinational corporate consumer food company. what would make it attractive to you to consider related diversification via acquisition rather than unrelated diversification into a new industry, such by forming an internal startup subsidiary to enter and compete in the target industry?
The stronger the bonds between sister companies in a diversified firm, the greater the opportunity for the firm to convert strategic fit into a competitive advantage by gaining strategic advantage.
Related diversification (entering a new industry that shares significant similarities with the firm's existing industry) is wiser than unrelated diversification (entering a new industry that does not share such similarities). Diversification strategies, such as concentric diversification, involve adding similar products or services to existing businesses. Horizontal diversification involves offering new independent products or services to existing consumers or diversifying conglomerates.
Companies are considered related if their value chains are competitive and demonstrate a strategic fit between them. A company is said to be fragmented when its value chain is highly diverse and there are no competitive inter-business relationships.
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FILL IN THE BLANK. __________ work best for communities that include seasoned practitioners and professionals who are willing and able to share their expertise.
LinkedIn Groups work best for communities that include seasoned practitioners and professionals who are willing and able to share their expertise. Thus option D is correct.
What are LinkedIn Groups?LinkedIn Groups give individuals in a given field or with comparable passions a place to exchange knowledge and experiences, get advice, and forge meaningful relationships.
For professionals looking to establish a more personal connection with potential business partners and workers, a LinkedIn personal profile is the best choice. A person might describe their talents and achievements in their LinkedIn personal profile.
Therefore, option D is appropriate.
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work best for communities that include seasoned practitioners and professionals who are willing and able to share their expertise.
answer choices
Tcards
Branded hashtags
Self-promotional posts
LinkedIn groups
Company XYZ just finished production on 1,000 units of in process inventory. Which of the following best describes the journal entry to account for this completion. A. Debit Finished Goods & Credit Work in Progress
B. Credit Finished Goods & Debit Work in Progress
C. Debit Finished Goods & Credit Raw Materials
D. Credit Finished Goods & Debit Raw Materials
E. None of the Above
Finished goods on debit and credits The journal entry to record this completion is best described as Work in Progress.
How are the finished goods inventory account and the work-in-progress inventory account related?All direct materials, direct labor, and manufacturing overhead costs that have been incurred during the manufacturing process but for which production has not yet been completed are included in work-in-progress inventory. The total production costs for goods that have been finished but haven't been sold are included in finished goods inventory.
Which of the subsequent is not an account for inventory?Equipment does not count as an inventory item. It consists of things that aren't kept for sale but are employed to generate cash.
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