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Xelga [282]
3 years ago
13

Angus Company agreed to sell goods for Longhorn Company on consignment, but wasn't willing to take ownership of the goods in cas

e they were difficult to sell. Which of the following statements is true?
A. Angus owns the inventory and should report It on its balance snoot.
B. Long hum owns the inventory but should not report it on its balance sheet because Angus actually holds the inventory
C. Angus owns the inventory since possession is nineteenths of the law. but should not report it on its balance sheet.
D. Longhorn owns the inventory and should report it on its balance sheet.
Business
1 answer:
vladimir2022 [97]3 years ago
3 0

Answer: D. Longhorn owns the inventory and should report it on its balance sheet.

Explanation:

Goods to be sold on consignment for a company means a company is selling goods for another company and will be paid for their services.

In that case, the company being sold for will retain the ownership of the goods because the company that is selling it for them is simply providing a service.

Angus in this scenario are simply holding the goods to sell it and so do not own the goods. Longhorn should therefore record it in their own books as inventory.

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Dixie is a product of the Digby company. Digby's sales forecast for Dixie is 506 units. Digby wants to have an extra 10% of unit
n200080 [17]

Answer:

556.6 or 557 units

Explanation:

Given that,

Digby's sales forecast for Dixie = 506 units

Digby wants to have an extra units on hand above and beyond their forecast = 10%

Production units = Sales × (1 + Reserve Percentage)

                             = 506 × (1 + 10%)

                            = 506 × 110%

                             = 556.6 or 557 units

Therefore, the Dixie's will produce 557 units in order to have a 10% reserve of units available for sale.

5 0
3 years ago
James has a marginal tax rate of 24%. He suddenly realizes that he neglected to include a $7,000 tax deduction. How will this ov
Alex17521 [72]

Answer:

hmhgdmthde

Explanation:

7 0
3 years ago
______________ specifies sales revenues and selling distribution and marketing costs.
frez [133]
To answer the question above as the which specifies the sales revenue and selling distribution and marketing costs is letter B, Sales budget. The answer lies in the question itself. Sales revenues,distribution and the marketing cost are all related to the sales budget. Sales budget controls the expenditure or resources related to sales.
3 0
3 years ago
The Jackson-Timberlake Wardrobe Co. just paid a dividend of $2.15 per share on its stock. The dividends are expected to grow at
tekilochka [14]

Answer:

a)  

$34.4

b)

$37.20

c) $59.57

Explanation:

Given:

Dividend paid = $2.15

Growth rate = 4% = 0.04

Required return = 10.5% = 0.105

Now,

a) Present value = \frac{\textup{Dividend paid}\times\textup{(1 +growth rate)}^n}{\textup{(Required return-Growth rate)}}

for the current price n = 1

thus,

Current price = \frac{\textup{Dividend paid}\times\textup{(1+growth rate)}^n}{\textup{(Required return-Growth rate)}}

=  \frac{\textup{2.15}\times\textup{(1 +0.04)}^1}{\textup{(0.105-0.04)}}

=  $34.4

b) Price in 3 years

i.e n = 3

= \frac{\textup{Dividend paid}\times\textup{(1 +growth rate)}^n}{\textup{(Required return-Growth rate)}}

=  \frac{\textup{2.15}\times\textup{(1 +0.04)}^3}{\textup{(0.105-0.04)}}

=

$37.20

c) Price in 15 years

i.e n = 15

= \frac{\textup{Dividend paid}\times\textup{(1 +growth rate)}^n}{\textup{(Required return-Growth rate)}}

=  \frac{\textup{2.15}\times\textup{(1 +0.04)}^{15}}{\textup{(0.105-0.04)}}

=  $59.57

4 0
3 years ago
Suppose you inherit an apartment building from your uncle. You anticipate making some income from the rent on
alexira [117]

Answer:

Would you cut back on making repairs and keeping the building in a safe and

livable condition?

No, I would maintain the building as good as posible.

How might you keep the building in good shape and still turn a profit?

the value of the building will increase over time. Then, is a matter of patience to make a profit out of the sell of it.

Is it possible to manage  the building or change it to make it both livable and profitable?

yes, What usually happens with rent control properties is that the landlords use the building for commercial or create condos use to avoid the law.

5 0
4 years ago
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