Answer:
The answer is: starts in year 1
Explanation:
Holding period refers to the time an investor holds an investment, in other words, the time between the buying of the investment and the selling of the investment.
In Ruth's case, the holding period for this asset should be the time since her mother bought the diamond necklace.
Answer:
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Explanation:
Answer:
The answer is: D) I, III and IV only
Explanation:
As a sole proprietor, Maria and her store are considered a single entity. So she is completely liable for all the debts of the store.
That means that Bank is able to:
- The first thing the Bank will do is try to collect their money from Maria´s personal bank account. If that isn´t enough then they will
- sell all the inventory of the store to try to get their money back. Finally if that doesn´t cover all the debt they will
- sell any assets (car, house, etc.) Maria owns to try get the debt paid.
Since Maria rents the warehouse where the store is located, the bank isn´t allowed to do anything with the building because someone else owns it.
Answer:
The estimated Inventory is $376,000.00, which is equal to the difference between cost of goods available for sale and cost of goods sold.
Explanation:
The cost of goods available for sale is made of Beginning Inventory $538,000 and Net Purchases $410,000 (418,000 Purchase - 8,000 Purchase Returns).
The cost of goods sold is 100% of Sales of $714,000, using a markup on cost of 25%. This implies that Sales represent 100+25%, = 125%.
Cost of goods sold is therefore $714,000/125 x 100, which is equal to $571,200.
A summary of Trading Account is attached to illustrate the above workings.
You need a job cuz I said so