A can of dog food is on sale for 20% off the original price. If the original price is $1.35, what is the discount?

The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/20

salantis [7]

Answer:

17 million

Explanation:

The computation of the outstanding common shares is shown below:

= Number of common shares outstanding - treasury common stock

where,

Number of common shares outstanding = Total value of the common shares ÷ par value of the share

= $105 million ÷ $5

= 21 million

And, the treasury common stock is 4 million

Now put these values to the above formula

So, the value would equal to

= 21 million - 4 million

= 17 million

6 0

3 years ago

Charles Berkle is the manager of Nogain Manufacturing and is interested in doing a cost of quality analysis. The following cost

Georgia [21]

Explanation:

a. The classification is shown below:

Prevention cost: This cost incurred so that the faults, or defects could be minimized as compare to before. It includes the machine maintenance expense i.e $3,000

Appraisal cost: This cost incurred specially to meet the quality of the customer expectations. It is a quality control cost. It includes the inspection cost of $15,000

Internal failure: This cost is occurred before delivery the product from the factory. It includes Scrap and rework of $8,600 and Machine breakdown cost of $4,000

External failure: This cost is occurred after delivery the product. It includes the warranty expense of $21,000, product return due to defects of $6,000 and Estimated lost sales due to poor quality of $5,000

b. Now the percentage is

= (Prevention and appraisal cost) ÷ (Sales revenue) × 100

= ($3,000 + $15,000) ÷ ($250,000) × 100

= 7.2%

c. The percentage is

= (Internal and external failures) ÷ (Sales revenue) × 100

= ($8,600 + $4,000 + $21,000 + $6,000 + $5,000) ÷ ($250,000) × 100

= 17.84%

Below is the attachment for cost of quality report

7 0

3 years ago

While auditing a client, the CEO asks you to look carefully at cash flows. You notice that cash flows have decreased every year.

Vikki [24]

Answer:

The answer is: FALSE

Explanation:

Documents are the most significant evidence in most fraud cases. Those who commit fraud will generally try to manipulate documentary evidence. Investigating the company's databases and accounting records are the best way to get documentary evidence. Also, documentary evidence is considered to be more reliable than eyewitness testimony.

5 0

3 years ago

Several types of risk are present in the U.S. economy. For each of the following, identify the type of risk that is present. Exp

Dima020 [189]

Answer and Explanation:

a. This is a fundamental risk case since there is a loss possibility. As the attack is done by the terrorists and the loss is definite in terms

b. It is a property risk as the house is damaged in a fire that resulted into a financial loss

c. It is a personal risk case as the head of the family is totally disabled that directly impact the family which leads to non-fulfillment of the financial liabilities so ultimately its an income loss.

d. It is a case of speculative as the investor purchase 100 shares that resulted in either profit or loss

e. This is a case of fundamental risk as the overflow of the river impacts the property of thousands people

f. This is a case of financial risk as the risk impacted the opposite changes in the price of the commodity, rate of interest, etc

g. It is a speculative case as the worker could either win or loss

6 0

3 years ago

Tony Matheson plans to graduate from college in May 2018 after spending four years earning a degree in sports and recreation man

valentinak56 [21]

Answer:

1. Proprietorship, Partnership and Corporation (details below)

2. Refer the answer with details below

3. Refer the answer with details below

Explanation:

1. Three primary forms of business organizations

Proprietorship

Having a single owner and hence all liabilities and assets belong to the proprietor and he is personally liable, lower tax

Partnership

Partnership of two or more, and therefore profits and liabilities are distributed and they are personally liable, lower tax than corporation

Corporation

Separate legal identity and hence owners are not personally liable, limited liability with stringent controls and regulated, higher tax rates.

Given the circumstances of the Great Adventures i.e. safety and sustainability, corporation would be recommended.

2. Activities

A) Financing Activities may include common stock, borrowings, and repayments.

B) Investing Activities may include purchase and sell of assets like land, building and machinery and investments

C) Operating Activities may include providing goods and services to the customers ans related operational cost to run the day to day business.

3. Specific Account Names

Assets may include Cash, Merchandise Inventory, Accounts Receivable, Property, Plant and Equipment

Liabilities may include Accounts Payable, Bank Overdraft, Notes Payable, accruals, loans.

Stockholders' equity may include common stock, retained earnings

Revenue may include Service revenue, other income

Expenses may include Salaries, Rent, Insurance advertising

8 0

3 years ago