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Goryan [66]
2 years ago
9

The Bombay Company, Inc., sold a line of home furnishings that included furniture, wall decor, and decorative accessories. Bomba

y operated through a network of retail locations throughout the United States and Canada, as well as through its direct-to-customer operations and international licensing arrangements. The company was forced to file fur bankruptcy. In its last financial statement prior to bankruptcy, Bombay reported current assets of $ 161,604,000 and current liabilities of $ 113,909,000 .
Required:
Determine the impact of the following independent transactions on the current ratio for Bombay:
(c) Wrote down the carrying value of certain inventory items that were deemed to be obsolete.
Business
1 answer:
tatyana61 [14]2 years ago
8 0

The guidance of the income assertion for the 12 months ended December 31 is $22,000.

income $94,000

value of products bought

Beginning end items inventory $20,000

add: a fee of goods synthetic $ forty-one,000

a fee of goods available for sale $ sixty-one,000

less: ending end goods inventory -$17,000

price of goods sold $ forty-four,000

Gross margin $50,000

much less: running expenses

popular and advertising expenses $15,000

general running fees $28,000

working earnings of $22,000

extra approximately the earnings statement right.

Monetary statement assertions are an employer's reputable announcement that the figures the agency is reporting are accurate. Assertions are made to attest to the authenticity of facts on balance sheets, profits statements, and cash flow statements.

Learn more about income assertion here:

brainly.com/question/14727142

#SPJ4

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Gladys learns from her agent Phil that he has just received a full price offer from a minority couple. She tells Phil to pull he
GaryK [48]

Answer:

both Gladys and Phil

Explanation:

Based on the information provided within the question it can be said that in this scenario both Gladys and Phil are guilty of violating the Fair Housing Law.  The Fair Housing law completely outlaws the refusal to sell a house or property to someone on the basis of race, color, disability, religion, sex, familial status, or national origin. Which is exactly why Gladys and Phil removed the property and did not want to sell to the minority couple.

5 0
3 years ago
On january? 1, 2017, dodge company purchases? $90,000, 7% bonds at a price of 86.4 and a maturity date of january? 1, 2027. dodg
andreev551 [17]

We should note that the bond investment account is recorded at cost by the Bondholder or Investor.

The cost or price is calculated as:

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<span>debit Held-to-Maturity Investment in Bonds for $77,760 and credit Cash for $77,760</span>

4 0
3 years ago
The prices for all kinds of fish sold in Eastville's downtown Old Market are much lower than the prices charged at uptown seafoo
Anton [14]

Answer:

The most correct answer is D

6 0
3 years ago
Read 2 more answers
The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact
lutik1710 [3]

Answer:

C. There are more substitutes for Cheerios than for cereals as a whole

Explanation:

Since in the question it is given that the demand for  Cheerios cereal is more price-elastic than the demand for cereals as a whole as because there are more substitutes for Cheerios as compare to cereals because in the case of substitute goods, there is a positive relationship between the price of good B and the demand of good A. It means if the price of good B decline. then the demand of good A is decreases and vice versa

6 0
3 years ago
Seybert Systems accounts for its investment in Wang Engineering bonds as available-for-sale. Seybert's balance in accumulated ot
MaRussiya [10]

Answer:

Seybert purchased the Wang investment for $173,000

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Since there is a credit balance. It means the stock is increased in value by $27,000. So that the stock was purchased at $173,000 ($200,000-$27,000).

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3 years ago
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