Answer:
c. $12,175,000.
Explanation:
Given: Merchandise sold by Lang company= $12520000.
Sales return and allowances= $270000.
Discount= $140000.
While calculating net sales, freight out charges is not included as it an selling expense and it should be included while calculating Gross profit of the company.
Here, we have to find the last year net sales for Lang company.
∴
⇒ Net sales =
∴Net sales=
Answer:
The options are given below:
A) raw material inventories
B) component parts inventories
C) average aggregate inventories
D) work-in-process inventories
The correct option is A.
Explanation:
Raw materials inventory refers to the total cost of all component parts that are currently in stock and which have not yet been used in finished goods production. In other words raw materials are items, substances, or commodities that are used in the primary production or manufacturing of goods.
The kind of raw materials inventory a company needs will depend on the type of manufacturing that they do.
In the scenario presented above therefore, Playstat uses unprocessed plastic and metals as its raw materials in producing toys.
Answer:
A. Private corporation.
Explanation:
Private corporation: It is type of business corporation which is privately owned by individual or company or group of small invenstor and the motive these company is to earn profit. The stocks of these companies are not freely traded in the open market, however, ownership of these company remain with few individuals, who might be closelt related or family member. The operation of these company will remain same as a regular corporation.
In the given case, Hardware store was privetly owned by Russell´s family and they don´t hire manager from outside, neither they sell it to any outsider. Therefore, this business is an private corporations.
No it does not it is a non-alcohol soft drink
<span />
Answer:
$1,329,600
Explanation:
Calculation for the amount that Matsui would report in its year-end 2021 balance sheet for its investment in Yankee
First step is to find the Percentage of shares acquired
Percentage of shares acquired = 48,000 / 240,000 = 20%
Last step is to find the Balance sheet Amount to be reported
Using this formula
Investment = Cost + 20% of Net income - 20% of dividends declared
Let plug in the formula
Investment=$1,296,000 + (20% x $240,000) - (20% x $72,000 )
Investment=$1,296,000+$48,000-$14,400
Investment=$1,329,600
Therefore the amount that Matsui would report in its year-end 2021 balance sheet for its investment in Yankee will be $1,329,600