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fenix001 [56]
3 years ago
8

For the current year, Hodges Department Store reported the following data:

Business
1 answer:
Ostrovityanka [42]3 years ago
5 0

Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

<h3>Cost of good sold</h3>

Using this formula

Cost of goods sold=Goods available for sale-Inventory balance

Where:

Goods available for sale=$1,074,450

Inventory balance=$85,430

Let plug in the formula

Cost of good sold=$1,074,450-$85,430

Cost of good sold=$989,020

Inconclusion Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

Learn more about Cost of good sold here:brainly.com/question/24561653

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The types of companies that make particularly attractive acquisition targets would be:_______
Eddi Din [679]

The types of companies that make particularly attractive acquisition targets would be financially distressed companies with good turnaround potential, undervalued companies that can be acquired at a bargain price, and companies that have bright growth prospects but are short on investment capital.

Acquisition Target

Target acquisition is the detection and identification of a target's position in sufficient detail to allow the efficient use of lethal and non-lethal measures. The phrase refers to a wide range of uses.

A "target" is an entity or object that is being considered for possible engagement or other action (see Targeting). Targets include mobile and stationary units, forces, equipment, capabilities, facilities, people, and functions that an enemy commander can utilise to execute operations. It could include things like target acquisition, joint targeting, or information operations.

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7 0
2 years ago
The estimated economic loss of all motor vehicle crashes in 2012 was $26,000.
tankabanditka [31]

The estimated economic loss of all motor vehicle crashes in 2012 was $26,000.

<u>True</u>

What is economic loss?

Economic loss is a term of art that describes financial loss and damage sustained by a person that only appear on a balance sheet and do not manifest as actual physical harm to the person or their possessions.

The difference between the proceeds from the sale of an output and the price of each input used, as well as any opportunity costs, is known as an economic profit or loss. Opportunity costs and explicit costs are subtracted from revenue received to determine economic profit.

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4 0
2 years ago
SunlandCorporation had net income of $1940000 and paid dividends to common stockholders of $310000 in 2017. The weighted average
MakcuM [25]

Answer:

Price-Earnings Ratio = 7

Explanation:

Income available to common share holders:

= Net Income - Preference Dividend

= $1,940,000 - $0

= $1,940,000

Weighted Average no. of shares = 242,500 shares

Earning Per Share (EPS):

= Income available to common share holders ÷ Weighted average no of shares

= $1,940,000 ÷ 242,500

= $8 per share

Market Price per Share (MPS) = $56

Price-Earnings Ratio = MPS ÷ EPS

                                  = $56 ÷ $8

                                  = 7

6 0
3 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $66,000 and $3,300, r
VMariaS [17]

Answer:

$5,200

Explanation:

Based on the information given we were told that the company estimated that the Allowance for Doubtful Accounts ending balance should be the amount of $5,200 which therefore means that the amount that will be reported as UNCOLLECTIBLE ACCOUNTS EXPENSE on its Year 2 income statement by the company will be the estimated Allowance for Doubtful Accounts ending balance of the amount of $5,200.

3 0
3 years ago
Staley Inc. reported the following data: Net income $300,200 Depreciation expense 76,000 Loss on disposal of equipment 20,600 In
ch4aika [34]

Answer:

Explanation:

The Preparation of Cash Flows from Operating Activities is shown below:-

Net income                                   $300,200

Depreciation expense                  $76,000

Loss on disposal of equipment    $20,600

Increase in accounts receivable  -$27,600

Increase in accounts payable       $10,100

Net cash provided by

operating activities                          $379,300

4 0
3 years ago
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