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4 years ago

If the sales price for an item is _____ or more the contract should be in writing

1 answer:

8 0

This my friend would be 500 or more since <span>the UCC requires that any contract for the sale of goods with a price of $500 or more must be in writing.</span>

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On January 1, 2019, Everlasting, Inc. purchased Comet Corporation for $650,000. On that date the net assets of Comet had a book

DedPeter [7]

Answer:

A. $30,000

B. $250,000

C. $190,000

Explanation:

A. Calculation for What amount of 2019 Equity Income was recognized by Everlasting

Based on the information given the amount of 2019 Equity Income that was recognized by Everlasting will be $30,000 which is FIFO Inventory Undervalued amount.

B. Calculation for 2019 consolidated net income

Everlasting had income from its own operations of $220,000

Add FIFO Inventory --Undervalued, $30,000

Consolidated net income $250,000

C. Calculation for What amount of goodwill appeared on the consolidated balance sheet at December 31, 2019

Cost of Acquisition $650,000

Less: Book value $320,000

FIFO Inventory --Undervalued, $30,000

Land--Undervalued, $10,000

Equipment , $75,000

Patent, $25,000

Goodwill $190,000

8 0

3 years ago

Correll Corporation is considering a capital budgeting project that would require investing $264,000 in equipment with an expect

lapo4ka [179]

Answer:

Income Tax Expense in Year 2 = 32400 USD

Explanation:

The income tax expense can be calculated from the following given data:

First of all we need to find the incremental revenue:

Incremental Revenue = Incremental Sales - Incremental expenses

Incremental Sales = 630,000 USD

Incremental expenses = 456,000 USD

So, plug in the values:

Incremental Revenue = 630,000 USD - 456,000 USD

Incremental Revenue = 174000 USD

Now, we need to find the less annual depreciation:

Less Annual Depreciation = Investment/ Expected Life

Investment = 264,000 USD

Expected Life = 4 years

Less Annual Depreciation = 264,000/4

Less Annual Depreciation = 66000 USD

Now, the next step is to calculate the operating incremental income:

Operating incremental income = Incremental Revenue - Less Annual Depreciation

Incremental revenue = 174000 USD

Less Annual Depreciation = 66000 USD

Operating incremental income = 174000 USD - 66000 USD

Operating incremental income = 108000 USD

30% tax at the operating incremental income is the income tax expense in year 2.

Income Tax Expense in Year 2 = 108000 x 30%

Income Tax Expense in Year 2 = 32400 USD

6 0

3 years ago

Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750

Aloiza [94]

Answer:

The answer is: D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500

Explanation:

The correct records should be:

Dr Accounts Payable account 1,500

Cr Merchandise Inventory account 1,500

Accounts Payable is a liability, and when liabilities decrease (the returned merchandise reduces the debt), they should be debited.

Merchandise Inventory is an asset, and when assets decrease (some merchandise was returned), they should be credited.

Read more on Brainly.com - brainly.com/question/13683967#readmore

Explanation:

8 0

3 years ago

In doing a five-year analysis of future dividends, the Dawson Corporation is considering the following two plans. The values rep

Shalnov [3]

Answer:

For Plan A = 6.7

For Plan B = 7.8

Explanation:

Data Given:

First of all, we need to sort out the data because it is very necessary to solve for this question requirement.

Year 1

Plan A = 1.10 Plan B = 0.10

Year 2

Plan A = 1.10 Plan B = 1.20

Year 3

Plan A = 1.10 Plan B = 0.20

Year 4

Plan A = 1.70 Plan B = 4.50

Year 5

Plan A = 1.70 Plan B = 1.80

Total Number of Years = 5

Now, in order to calculate the total number of dividend per share over the 5 years time period. We need to sum the individual entries of Plans.

So,

For Plan A:

Total number of dividend per share = 1.10 + 1.10 + 1.10 + 1.70 + 1.70 = 6.7

Total number of dividend per share = 6.7

Similarly,

For Plan B:

Total number of dividend per share = 0.10 + 1.20 + 0.20 + 4.50 + 1.80 = 7.8

Total number of dividend per share = 7.8

5 0

3 years ago

How do u become happy

emmainna [20.7K]

Answer: You can be happy by doing things you always wanted to do or just do your hobbies

Explanation:Have a good day!

5 0

3 years ago