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taurus [48]
2 years ago
6

true or false losing inventory for the year ended 31 August 2018 will be closing inventory for the year ended 31 August 2019

Business
1 answer:
sergey [27]2 years ago
6 0

true because they closed

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Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 a
monitta

Answer:

B. 2.05 times

Explanation:

Asset turnover ratio is computed by dividing net sales by average total assets

Given the following information about Maple Corp. for the year ended December 31, 2017

Beginning total assets = $83,200

Ending total assets = $116,500

Average total assets = (83,200+116,500)/2

                                  = 199700 /2

                                  = $99,850

net sales = $204,550

Asset turnover ratio = net sales/average total assets

                                 = $204,550/$99,850

                                 = 2.05 times

6 0
3 years ago
Thomas co. sold $1,000 worth of merchandise on a bank credit card less a 3ee. the entry to record the sales transaction would in
DedPeter [7]

The amount of the sales transaction would include a debit to cash is $970.

<h3>How is the percentage determined?</h3>
  • The percentage is a value that has been multiplied by 100. In this manner, expressing 25% of a value is equivalent to expressing 25% out of 100, or 25% divided by 100.
  • Simply multiply the total by the percentage to determine the precise number of absentees from the event.

So: 160 x 25% = 160 (25/100) = 160 x 0.25 = 40

This is so that the cash sum received will be equal to the sales values multiplied by one less the credit card fee.

1000 x (1-0,03)

1000 x 0,97 = 970$

So, the amount of debt to cash that would entry to the record sales would be 970$.

To learn more about Finance sum, refer

to brainly.com/question/26106218

#SPJ4

4 0
2 years ago
Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She ha
avanturin [10]
House is worth 275- 195= 80k equity.  Car is 12k-7500= 4.5k equity plus 3k investments plus 2700 in the bank minues 1500 credit card debit= 88,700
8 0
2 years ago
Read 2 more answers
Crane Company purchased land as a factory site for $1300000. Crane paid $110000 to tear down two buildings on the land. Salvage
Marizza181 [45]

Answer:

a. $‭1,420,000‬

b.  $‭4,514,800‬

Explanation:

When it comes to fixed assets, all costs that directly helped make the asset available for use are to be capitalized.

Cost of Land

= Purchase Value + Cost Incurred to Tear Down 2 Buildings + Legal Fees + Title Insurance Cost + Assessment Cost - Salvage

= 1,300,000 + 110,000 + 5,000 + 3,500 + 9,500 - 8,000

= $‭1,420,000‬

Cost of Building

= Architect's Fees + Liability Insurance Cost + Excavation Cost + Contractor's Payment + Interest Cost

= 46,000 + 3,800 + 15,000 + 4,200,000 + 250,000

= $‭4,514,800‬

4 0
3 years ago
On the first day of the fiscal year, Hawthorne Company obtained an $88,000, seven-year, 5% installment note from Sea Side Bank.
Alex73 [517]

Answer:

DR  - Interest expense - $4,400

Explanation:

DR  - Interest expense - $4,400

DR  - Notes payable     - $10,808

CR  - Bank/Cash           - $15,208

5 0
3 years ago
Read 2 more answers
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