Answer:
Total cash collection= $257,500
Explanation:
Giving the following information:
Sales:
March= $250,000
April= $280,000
Speedster Bicycles, Inc., collects 25% of its sales on account in the month of the sale and 75% in the month following the sale.
<u>Cash collection April:</u>
Sales on account from April= 280,000*0.25= 70,000
Sales on account from March= 250,000*0.75= 187,500
Total cash collection= $257,500
Answer:
Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset.
An impairment is recognized as a loss on the income statement and as a reduction in the goodwill account. The amount of the loss is the difference between the current fair market value of the asset and its carrying value or amount.
Explanation:
Answer:
The most accurate answer is *They fear that if they give a positive reference for someone who doesn't work out in a new job, they may be sued by that person's new employer.
Explanation:
Giving a reference of an employees character, professional and ethical behavior, productivity and integrity is a great responsibility and not just a mere simple act.
this is mainly because the references are a main way to assess the suitability of hiring an employee and if we give an incorrect reference, the other firm might rely on it and hire an ineffective employee.
Answer:
Option B
Explanation:
In simple words, under such tax reforms the government is intending to raise indirect taxes which will lead to higher prices of certain goods and is also declining taxes on savings. Both of these steps will work as an incentive for individuals to save more.
However a big majority of community is stating that this will only lead to more burden on the weaker section due to higher prices of commodities and will eventually result in lower standard of living for certain individuals.
Answer:
A. $650 $750 $677
Explanation:
period purchases sales
1 20 units at $50 15 units at $60
2 35 units at $40 35 units at $45
3 85 units at $30 85 units at $35
total revenue = $900 + $1,575 + $2,975 = $5,450
COGS:
- using FIFO = (15 x $50) + (5 x $50) + (30 x $40) + (5 x $40) + (80 x $30) = $4,800
- using LIFO = (15 x $50) + (35 x $40) + (85 x $30) = $4,700
- cost average = ($4,950 / 140 units) x 135 units = $4,773.21
Gross profit:
- using LIFO = $5,450 - $4,800 = $650
- using FIFO = $5,450 - $4,700 = $750
- using cost average = $5,450 - $4,773.21 = $676.79 ≈ $677
