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cricket20 [7]
3 years ago
8

Snackyville sells a wide variety of snacks to retail grocery stores. Snackyville recently released two new snacks: a popular tra

il mix and a much less popular granola bar. Snackyville requires grocery stores to buy 15 cases of the granola bar for every 120 cases of the trail mix ordered.
Business
1 answer:
Akimi4 [234]3 years ago
3 0

Answer:

Both the trail mix and granola bars are tied products since the selling of one of the (the popular trail mix) is tied to the selling of the other product (the less popular granola bars).

Companies do this taking advantage of a very popular product, in order to either increase the sales of a less popular product or simply to get rid of the remaining inventories of some other product.  

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Salon Company originally issued 4,000 shares of $10 par value common stock for $120,000 ($30 per share). Salon subsequently purc
katen-ka-za [31]

Answer:

(D)  Credit to Paid-In Capital from Treasury Stock for $800.

Explanation:

Please see attachment

6 0
3 years ago
Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 an
inna [77]

Answer:

Terry's Closing Inventory is $131,360.

Terry's Gross profit is $431,360.

We follow these steps to arrive at the answers:

<u>1. Calculate the base value of closing inventory (CI):</u>

CI_{base value} = \frac{CI*Index at base year}{current price index}

CI_{base value} = \frac{143360*100}{112} =  128,000

<u>2. Calculate additions to inventory at base price</u>

Additions to inventory = CI_{base value} - Beginning inventory

Additions to inventory = 128000 - 100000 = 28,000

<u>3. Calculate the value of additions to inventory at current prices</u>

Additions to inventory_{current Value} = Additions to inventory_{base Value} * \frac{current price index}{base price index}

Additions to inventory_{current Value} = 28,000 * \frac{112}{100} = 31,360

<u>4. Calculate the value of Closing inventory</u>

Closing inventory = Beginning Inventory + Additions to inventory_{current Value}

Closing inventory = 100,000 + 31,360 =  131,360

<u>5. Compute Cost of Goods Sold (COGS):</u>

COGS = Opening Inventory + Purchases - Closing Inventory

COGS = (100000 + 600000 - 131360) = 568640

<u>6. Compute Gross profit</u>

Gross profit = Sales - COGS

Gross profit = 1000000 - 568640 = 431360

5 0
3 years ago
The balance sheet of ABC reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The r
zimovet [89]

Answer:

ABC net income for the year is $42,500

Explanation:

Beginning total assets = $400,000

Ending total assets = $450,000

Average total assets = Beginning total assets + Ending total assets ÷ 2

= ($400,000 + $450,000) ÷ 2

= $425,000

Return on assets = 10%

Therefore,

Net income ÷ Average total assets = Return on assets

Net income = Return on assets × Average total assets

Net income = 0.1 × Average total assets

= $425,000 × 0.1

= $42,500

7 0
3 years ago
Which of the following contingent liabilities would require a company to record a note to the financial statements
SOVA2 [1]

The following contingent liabilities would require a company to record a note to the financial statements:-

a.) The liability is possible and cannot be reasonably estimated.

b.) The liability is probable and cannot be reasonably estimated.

c.) The liability is possible and is estimated to be $35,000.

Correct answer is option 1 , 2 & 4 .

Eligible contingent liabilities are recognized as expenses on the income statement and as liabilities on the balance sheet. If the chance of accidental loss is low, i. H. With a probability of less than 50%, the liability should not be recognized on the balance sheet.

Contingent liability is disclosed when it is likely that a transfer of economic benefits will be required to resolve it without making a provision.

Learn more about financial statements at

brainly.com/question/26240841

#SPJ4

<em>Your question is incomplete. please read below to find the full content.</em>

Which of the following contingent liabilities would require a company to record a note to the financial statements

The liability is possible and cannot be reasonably estimated.

The liability is probable and cannot be reasonably estimated.

The liability is remote and estimated to be $15,000.

The liability is possible and is estimated to be $35,000.

The liability is remote and cannot be estimated.

The liability is probable and estimated to be $40,000.

3 0
2 years ago
A process for two or more people coming together to operate an investment, such as partnerships or corporations, is
Ludmilka [50]

A process for two or more people coming together to operate an investment, such as partnerships or corporations, is Franchise.

<h3>What is franchise?</h3>

Franchise is a type of business that is owned and operated by an individual (franchisee) but that is branded and overseen by a much larger entity.

Advantages of owing a franchise are :

  • A franchise owner gets valuable help throughout the lifespan of the business.
  • Owning a franchise comes with a low rate of failure.

Therefore, franchise is a process whereby two or more people come together to operate an investment, such as partnerships or corporations.

Learn more about franchise here: brainly.com/question/3687222

4 0
2 years ago
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