Answer:
A) Inventory is reported as a current asset because it will be converted into cash within a year of the balance sheet date.
Explanation:
The total assets comprise of current assets, fixed assets, and the intangible assets
The current assets include cash, stock, account receivable, etc
Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, goodwill, etc.
The current assets are those assets which are converted into cash in less than one year
Answer: immigration, discrimination, labor unions, unemployment, and income inequality
Answer:
c. $8,400
Explanation:
Given that
cash dividend = $.80 per share
Authorized Shares = 16,000
Issued Shares = 11,000
Outstanding Shares = 10,500
So, the dividend amount is shown below
= Outstanding Number of shares × dividend per share
= 10,500 shares × $0.80 per share
= $8,400
The cash dividend amount should always be calculated on outstanding number of shares.
Answer:
=$172,000
Explanation:
Hall records:
The uncollectable account had a credit balance of $ 24,000.
A credit balance is a positive balance; there is money in the account.
Hall wrote off $ 96,000 in the year
new balance = $24,000- $ 96,000
=($ 72,000.00)
Allowance for doubtful accounts required $100,000.00
Amount of uncollectable expense for the year should be
Amount +(72,000)= 100,0000
Amount =100,000+72000
=$172,000