The answer is yes.
Its possible for a firm to become too big to be competitive and earn profit. They can be so large and successful that they no longer compete with small businesses anymore and might inhibit the ability to continue earn their profit.
Answer:
- Adjusted Cost of Goods sold = $1,206,860
- Adjusted Retained Earnings = $4,675,190
Explanation:
An overstated opening inventory would overstate Cost of Goods sold. The overstatement should therefore be removed from the Cost of goods sold.
An overstated closing inventory would understate Cost of Goods sold. The overstatement should therefore be added to the Cost of Goods sold.
Adjusted Cost of Goods sold 2020 = Cost of Goods sold + 2020 ending inventory - 2019 opening inventory
= 1,290,700 + 32,910 - 116,750
= $1,206,860
Adjusted Retained earnings
The retained earnings would have to be adjusted for the overstatement of the current inventory by $32,910 because this understated Cost of Goods sold.
= Retained earnings - Overstatement of inventory
= 4,708,100 - 32,910
= $4,675,190
Answer:
There is loss of $109,120
Explanation:
Lossrecognized=Marketvalue−Purchasevalue
=$1773200-1364000
Therefore, loss recognized by “M” Corporation is $409,200
Determine the gain or loss of A:
LossbyA=Purchasevalue−Liability−ActualbasisofM
=[($1364000-$1091200)×40%]−$218240
=$109120−$218240
=($109,120) loss
Answer:
$16,875
Explanation:
The amount received per year is $15,000 and the CPI increased from 144 to 162
Inflation rate = (New CPI - Old CPI)/Old CPI * 100
Inflation rate = 162-144/144 * 100
Inflation rate = 0.125
Inflation rate = 12.5%
Amount received = $15,000 * 12.5% = $1,875
==> $15,000 + $1,875 = $16,875
So, Grandmother will receive $16,875
Answer:
44,167.67 shares
Explanation:
Given that
Number of shares of stock outstanding = 265,000
Sale value per share of stock = $76
Number of seat for election = 5
So by considering the above information, the number of shares needed by using the cumulative voting is
= {shares outstanding ÷ (number of seats + 1) + 1}
= {(265,000 shares ÷ (5 +1) +1}
= 44,167.67 shares