User Account

All Pages

Record the journal entry assuming that the market price

Assignment Help Accounting Basics
Reference no: EM132622422

At December 31, 2020, Sage Company has outstanding noncancelable purchase commitments for 36,600 gallons, at $4.44 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.

Question 1: Assuming that the market price as of December 31, 2020, is $4.00, record the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,225.)

Reference no: EM132622422

Questions Cloud

Describe the change made and comment on the strength : Describe the change made and comment on the strength of the research evidence utilized and the whether the change led to improved patient outcomes.
Discuss the appropriate role of the public in the creation : Discuss the appropriate role of the public in the creation and implementation of public policy in a scientific policy domain, for example, environmental
What is the NPV of the coal fired plant : The cost of capital for either plant is 10 present. What is the NPV of the coal fired plant (project C) over twenty years life
What is the relationship between budgeting and planning : What is the relationship between budgeting and planning. How are they related? What differences exist between the two?
Record the journal entry assuming that the market price : Assuming that the market price as of December 31, 2020, is $4.00, record the journal entry. (Credit account titles are automatically indented)
Describe use of evidence-based nursing practice : Please interview a nurse leader and a bedside nurse concerning their perspective on the barriers to the use of evidence-based nursing practice in their clinical
What amount of personal property taxes can deduct : What amount of personal property taxes can she deduct on her Schedule A? In 2018, Olivia paid personal property taxes of $540 on her vehicle
How much is the amount of bonus : If the partner agreed to have a capital ratio of 40:60 for LONZO and BRANDON respectively, how much is the amount of bonus to or (from) LONZO
Identify the levels of measurement of each variable : A nurse has decided to research the following PICOT question: "Adult clients who are admitted to the cardiac unit with congestive heart failure are more likely.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd