Answer:
The cost of goods available for sale is $650,100
Explanation:
Credit terms of 3/15, n/45 means that 3% discount for the payment within 15 days and the full amount to be paid within 45 days.
The discounts Northwest Fur Co. took = $560,000 x 3% = $16,800
Northwest uses a perpetual inventory system and the gross method to record purchases.
Net Purchases = Purchases - Purchase Returns - Purchases Discounts + Freight-In = $560,000 - $4,900 - $16,800 + $8,800 = $547,100
The cost of goods available for sale = Beginning merchandise inventory + Net Purchases = $103,000 + $547,100 = $650,100
individuals that have special voting rights owns a special class of stock called classified stock.
The classified stock refers to class of common stock that comes with special privileges like dividend rights or enhanced voting rights.
Usually, these stock are issued/owned by individual that started or co-start the business.
The classified stock is used to ensure the company's founders maintain its control over the establish company even without owning the majority of the common stock.
Therefore, the individuals that have special voting rights owns a special class of stock called the classified stock.
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Answer: 320 units
Explanation:
The equivalent units of production for transferred in units in the Filtering Department in August under the first-in, first-out (FIFO) method goes thus:
Total units completed= 160 units + 290 units = 450 units
Beginning WIP = 160 units
Ending WIP = 30 units
Equivalent units of production:
= 450 + 30 - 160
= 480 - 160
= 320 units
An authorization to start a business issued by the local government is a business license. A business license allows a person to run a business legally. The license is used for tax purposes with the government and so the government can control and regulate the business on the legal side. If you do not have a business license, then you are a sole proprietor and running the business for tax purposes from your social security number.
The main purpose of price/sales multiple ratio is typically only for the purpose of valuation of firms having no earnings till the date of valuation. Therefore, the given statement holds true.
<h3>What is the significance of Price/Sales ratio?</h3>
Price/Sales ratio can be referred to or considered as a ratio that is used to determine the total sales made by the company without earning any profits over their sales at a given price.
Investors use this ratio in order to valuate a firm based on the sales they have made in multiples, however without earnings, that can prove to derive good investment returns in the future.
Therefore, the aforementioned statement regarding price/sales ratio holds true.
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