The epicurean society is holding its annual election for president. the three candidates are a, b, and

West Side Medical Supply is in trouble. In the past two years, Fred Schultz, the owner, suddenly lost 26 percent of his business

Alexus [3.1K]

Fred Schultz, the owner of the West Medical Supply had lost 26 percent of his business. The cause of the lost was because of the two drug stores and close local hospital. In order for Fred to redeem his lost and to gain more, he needs to do some research on demographic changes. By this, he may be able to determine the population and to figure out where and how he can go through with his business.
Answer: D

7 0

4 years ago

Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Business

Lady bird [3.3K]

Answer: (a) $325,000

(b) $1,150,000

Explanation:

(a) For Music world retail:

Cost of goods sold = Goods available for sale - Ending merchandise inventory

= (Beginning merchandise inventory + Cost of purchases) - Ending merchandise inventory

= ($200,000 + $300,000) - $175,000

= $500,000 - $175,000

= $325,000

(b) For Wave-Board Manufacturing:

Cost of goods sold = Goods available for sale - Ending finished goods inventory

= (Beginning finished goods inventory + Cost of goods manufactured) - Ending finished goods inventory

= ($500,000 + $875,000) - $225,000

= $1,150,000

8 0

4 years ago

How many types of bankruptcy cases are provided for in the Bankruptcy Code?

Alenkasestr [34]

The answer is b. 6

There are 6 types of bankruptcy outlined by title 11 of the United States Codes. Those cases are :

- Chapter 7
Bankruptcy governs the process of liquidation. Designed for debtors in financial difficulity who do not have the ability to pay their debt

- Chapter 9
Bankruptcy available exclusively for municipalities

- Chapter 11
Which designed for reorganization of a business

- Chapter 12
Similar to cahpter 11, but only apply for farmers and fishermen

- Chapter 13
Which designed for debt rehabilitation

- Chapter 15
If the bankruptcy case involve some assets that was spread across the country

7 0

3 years ago

*a customer gives you a $20 bill for a $16.50 purchase. you key into the register $20 and it says to give back $3.50, but the cu

Paraphin [41]

You give back $4 because you subtract 50 cents from $16.50 and get $16 and now u subtract $20 from $16 and you get $4

6 0

3 years ago

Read 2 more answers

Mills Corporation acquired as a long-term investment $290 million of 8% bonds, dated July 1, on July 1, 2021. Company management

kow [346]

Answer:

Journal Entries are given below

Explanation:

Mills Corporation-journal Entries

Date Particulars Debit (In Miln) Credit (in Mln)

01-Jul-21 Bond Investment $290.00

Investment premium $50.00

Cash $340.00

Investment recorded

31-Dec-21 Cash ($290 * 8% * 6/12) $11.60

Premium bond investment $1.40

Interest revenue ($340*6%*6/12) $10.20

Revenue recognized for bond interest and amortization of discount.

31-Dec-21 Unrealized holding gain or loss $8.60

Fair value adjustment ($340 - $330 - $1.40) $8.60

investment recorded at fair value.

02-Jan-19 Fair value adjustment Dr $8.60

Reclassification adjustment - $8.60

Fair value adjustment at the time of sale

02-Jan-19 Cash $290.00

Loss on sale of investment $48.60

bond investment premium $48.60

Investment in Bond $290.00

Sale of investment.

3 0

3 years ago

The epicurean society is holding its annual election for president. the three candidates are​ a, b, and

The epicurean society is holding its annual election for president. the three candidates are a, b, and