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3 years ago

6

When calculating the inventory turnover at cost, the first step is to calculate A. Cost of goods sold B. Average inventory at re

tail C. Average inventory at cost D. Inventory cycle

2 answers:

Sophie [7]3 years ago

5 0

I think it’s A, hope it helps

marusya05 [52]3 years ago

4 0

Answer:

answer is C, average inventory at cost. Answer A, cost of goods sold, was incorrect for me.

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Sox Corporation purchased a 30% interest in Hack Corporation for $1,525,000 on January 1, 2021. On November 1, 2021, Hack declar

Serjik [45]

Answer:

$1,200,000

Explanation:

SOX Corporation purchased a 30% interest for $1,525,000

On November 1, 2021, Hack declared and paid $1,100,000 million in dividends

Hence, Carrying value = $1,525,000 - 30%($1,100,000)

Carrying value = $1,525,000 - $330,000

Carrying value = $1,195,000

Net loss given during the year reported by Hack is $4,000,000

Hence, Net Loss of SOX is $4,000,000 * 30%

Net Loss = $1,200,000

Therefore, the net loss to be recognized in the Income statement is $1,200,000

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3 years ago

A leader who is primarily concerned with ensuring that subordinates perform their work at a high quality level is a(n) ________

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That is a "task oriented" type of leader

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3 years ago

Which type of investment is most likely to have the greatest long-term increase in value

Liono4ka [1.6K]

Which type of investment is most likely to have the greatest long-term increase in value? Stocks and bonds. Stocks and bonds when a company purchases a new asset is one of the best long-term investments you can invest in. Due to them being long-term investments, the asset needs time to accumulate more value for what it's worth before you sell it. Long-term investments value tends to rise overtime and not often would a short-term investment hold if kept to long.

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3 years ago

At the end of 2021, Kingbird Co. has accounts receivable of $762,000 and an allowance for doubtful accounts of $22,520. On Janua

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Answer:

a. Debit Allowance for doubtful debt $4,398

Credit Accounts receivable $4,398

Being entries to write off receivable due from Madonna Inc.

b. $739,480 before and after the write-off

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

The realizable value of accounts receivable before the write off is the net of the accounts receivable and the allowance for doubtful debt

= $762,000 - $22,520

= $739,480

This amount remains the same after the write off as the write off will reduce the balances in both the allowance for doubtful debt account and accounts receivable.

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3 years ago

As a manager, Colin realizes that there is no single formula for making easy decisions. In reality, business decisions he has to

alexira [117]

Answer: Nonrational

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3 years ago