Answer:
The correct answer is option 3. $1990
Explanation:
Let's first analyze all the information we have:
We know that the items were originally priced at $ 4,000. With each passing year they lost 11% of their value and 4 years have passed, which leads us to the conclusion that the items lost 44% of their value.
So: (4000 x 44): 100 = 1760
Items are worth $ 1,760 less than before: 4000 -1760 = 2240.
Items now cost $ 2,240. The owner had actual cash value coverage with a deductible of $ 250. That is to say, he must bear this cost, and the rest will be paid by the company. Which brings us to: 2240-250 = 1990.
That is our correct answer.
Answer:
The company's current ratio is 1.25.
Explanation:
The current ratio is calculated by dividing the current assets by the current liabilities:
current assets=$50000
current liabilities=$40000
current ratio=$50000/$40000
current ratio=1.25
According to this, the answer is that the company's current ratio is 1.25.
Explanation:
Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.
Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.
The copyright worth $6 million for five years is the only inviolable thing you can amortize.
The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.
Answer:
23.53% or 24% (Approx)
Explanation:
Given that,
Current Assets = $632,000
Total Assets = 1,424,000
Cost of Goods Sold = 1,040,000
Gross Profit = $320,000
Net Income = 192,000
Sales revenue = Cost of goods sold + Gross profit
= $1,040,000 + $320,000
= $1,360,000
Gross profit margin = (Gross Profit ÷ Sales) × 100
= (320,000 ÷ 1,360,000) × 100
= 0.23529 × 100
= 23.53% or 24% (Approx)