Answer: Incomplete question.
Match the following terms to there definition.
Explanation:
1. Tells whether a company can pay all its current liabilities if they become due immediately - Quick Ratio
2. Measures a company's success in using assets to earn income - Return on Assets
3. The practice of comparing a company with other companies that are similar - Benchmarking
4. Indicates how rapidly inventory is sold - Inventory turnover
5. Shows the proportion of a company's assets that is financed with debt - Debit Ratio
6. Tells the percentage of a stock's market value that the company returns to stockholders annually as dividends - Dividend Yield
7. Measures a business's ability to pay interest on its debt - Interest coverage ratio
8. Measures a company's ability to collect cash from credit customers -
Account Receivable Turnover
Answer:
Final Good
Products that are bought by individuals or households for personal use.
Answer:
The sales budget is prepared below. See table below.
Explanation:
<em>A sales budget shows the expected revenue and units to be sold for a forth coming accounting period. The sales budget for Patrick Inc would look as follows:</em>
Sales budget
Month Units Revenue($)
January 41,000 1,435,000
February 38,000 1,330,000
March 50,000 1<u>,750,000</u>
<u>4,515,000</u>
Note the revenue per month is determined by multiplying the unit to be sold by the price per unit of $35
The contract that contains provisions for surface leases related to a property is the <u>Farm</u><u> </u><u>and Ranch contract.</u>
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A void contract is a contract that fails a validity test and is therefore not a contract. A void contract is a contract that initially appears valid but may be terminated by a party deemed to have interfered in some way.
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After a reasonable period of time, the contract is considered accepted and can no longer be objected to. Other examples include real estate contracts, attorney contracts, etc. If a contract is concluded without the free consent of the parties, it will be considered a void contract.
A voidable contract is a formal agreement between two parties that can be made unenforceable for a variety of legal reasons, including Errors, Misrepresentations, or Fraud. Excessive influence or coercion.
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Answer:
$559,020
Explanation:
The computation of net sales is shown below:-
Total sales = $640,000
Sales discount = $14,500 + $1,450
= $15,950
Sales return = $39,000 + $4,680
= $43,680
Sales allowance = $19,000 + $2,530
= $21,350
So,
Net sales = Total sales - Sales discount - Sales return - Sales allowance
= $640,000 - $15,950 - $43,680 - $21,350
= $559,020
Therefore for computing the net sales we simply applied the above formula.
