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Elina [12.6K]
3 years ago
9

Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of

Business
1 answer:
Nikitich [7]3 years ago
3 0

Answer:

$7,604,500

Explanation:

Total cost of goods sold:

= Cost of goods sold of Patti Company + Cost of goods sold of Shannon Inc.

= $7,500,000 + $160,000

= $7,660,000

Consolidated cost of goods sold:

= Total cost of goods sold - Intra-Entity sales added in cost of goods sold of Shannon Inc. + Unrealized profit on ending inventory eliminated by adjusting cost of goods sold

=  $7,660,000 - $60,000 + ($60,000 × 0.25) × 30%

= $7,660,000 - $60,000 + $4,500

= $7,604,500

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A difference between operations and projects is that operations end when their objectives have been reached, whereas projects do
maxonik [38]

Answer:

FALSE

Explanation:

It is False that the difference between operations and projects is that operations end when their objectives have been reached, whereas projects do not.

The reverse is true because projects are time-bound and they come to an end when their objectives have been achieved, but company operations are expected to continue as a going concern.

A project is an activity to meet the creation of a unique product or service, an thereafter terminates while operations are day to day routine activities that are expected to continue

3 0
3 years ago
A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals:
Margaret [11]

Answer: 1.27

Explanation:

The acid test ratio of a company measure how well a company would be able to pay off its current liabilities using its most liquid current assets (current assets less inventory).

= (Cash + Accounts Receivable) / Current liabilities

= (40,000 + 55,000) / 75,000

= 95,000 / 75,000

= 1.27

8 0
3 years ago
Give an example of two economic goals conflicting with each other
Alexxandr [17]
Any country around the world has certain targets for becoming an ideal and economically stable nation. Economic goals of full employment, stability, economic growth, efficiency, and equity are widely considered to e beneficial and worth pursuing for a country to achieve economic stability. Full employment and price stability are goals that conflict with each other. Full employment is an economic situation in which all the available labor resource is being used in the most efficient way possible while price stability implies avoiding both prolonged inflation and deflation.
4 0
3 years ago
Read 2 more answers
When Patrick was talking with his customer about the new accounting system, his customer mentioned that she thought the new syst
cupoosta [38]

Answer:

The question lacks answers:

<em>a. overcoming reservations </em>

<em>b. generating and qualifying leads </em>

<em>c. the presentation </em>

<em>d. the preapproach </em>

<em>e. follow-up</em>

The answer is: a. overcoming reservations

The answer can be formulated as - handling objections

Explanation:

The sales presentation process usually follows the sequence:

<em>generating and qualifying leads  -> the preapproach  -> the presentation  -> overcoming reservations  -> closing -> follow-up</em>

The part of overcoming reservations is one of the most critical parts of the sales process, as it includes the addressing of the potential concerns a lead may have. This is the part when most salespeople end the whole process, as they are mostly not prepared to argument their sales pitch.

In this example, Patrick is confident and persistent in his efforts to emphasize the benefits of the system, even though the client expressed some concern about it. Patrick successfully overcame the client's reservations by explaining the benefits further.

6 0
3 years ago
A wedding party hired a sole proprietorship to cater their wedding. In this situation, the sole proprietorship is a corporation
mario62 [17]
The answer would be false
7 0
3 years ago
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