Answer:
Hodge Company
Calculation of Estimated Loss on Inventory in the
Flood Using Gross Margin (Profit) Method
November 21, 2016
Inventory at November 1, 2016 $96,000
Purchases from November 1, 2016 <u>$131,000</u>
to date of flood
Cost of goods available for sale $227,000
<u>Estimated cost of goods sold:</u>
Net sales from November 1, 2016 $250,000
to date of flood
Less: Estimated gross margin <u>$75,000</u> <u>$175,000</u>
(250,000 * 30%)
Estimated cost of inventory at date of flood $52,000
Less: Salvage goods <u>$9,200</u>
Estimated loss on inventory in the flood <u>$42,800</u>
I looked it up and the answer I was given is Ciroc
Answer:
cash flow on total assets ratio = 4.8 %
so correct option is a) 4.8%
Explanation:
given data
net cash flows = $120,000
total cash flows = $500,000
average total assets = $2,500,000
to find out
cash flow on total assets ratio
solution
we get here cash flow on total assets ratio that is equal to
cash flow on total assets ratio = Operating cash flow ÷ Average total assets ..................1
put here value we get
cash flow on total assets ratio =
cash flow on total assets ratio = 4.8 %
so correct option is a) 4.8%
When an individual transfers property to another taxpayer during their life, without receiving or expecting to receive value in return, the property transferred is a(n) gift.
Gift:
A gift or a present is something offered to someone without expecting anything in return. It is not a gift if the person receiving it already owns the thing. Although reciprocity may be expected in gift-giving, a present is intended to be gratuitous.
What is Taxpayer?
A taxpayer is a person or entity who is required to pay taxes. Modern taxpayers may have an identification number, which is a reference number issued by the government to individuals or businesses. The phrase "taxpayer" often refers to someone who pays taxes. A taxpayer is an individual or company who is required to pay municipal or government taxes agencies.
To learn more about Taxpayer
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