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Which of the following about associate's degrees are true? a. You may transfer part or all of your associate's degree courses to

grin007 [14]

C, associates degree doesn't offer financial aid

8 0

2 years ago

Read 2 more answers

Inventory turnover is calculated as _____. a) cost of merchandise sold divided by inventory b) cost of merchandise sold divided

Molodets [167]

Answer:

B) cost of merchandise sold divided by average inventory.

Explanation:

Inventory turnover: It is a liquidity ratio that measures the number of times on average a company sold or replaced its inventory during the period. Computed as the cost of goods sold / by the average inventory on hand during the period. Analysts compute average inventory from the beginning and ending inventory balances. The ideal inventory turnover ratio is about 4 to 6, it is a rate at which restock item is well balanced with the sold inventory.

7 0

2 years ago

A company acquires a subsidiary and will prepare consolidated financial statements for external reporting purposes. For internal

NemiM [27]

Answer:

It is a relatively easy method to apply.

Explanation:

When accounting for a subsidiary, equity method is followed, whenever the shareholding percentage is equal or more than 20%.

But here, the parent company uses, initial value method for internal reporting.

Under initial value method the value of investment in subsidiary is recorded at cost, and then adjusted at year end at fair value, this clearly shows the gain or loss at each year end from such investment as per market norms.

There is no statutory requirement to follow such initial value method for internal reporting.

The correct reason therefore, is:

It is a relatively easy method to apply.

7 0

2 years ago

(Cash dividends) Marshall Pottery Barn is a privately owned importer of Mexican pottery and garden supplies. The firm plans on p

zhannawk [14.2K]

Answer:

A.The impact on the balance sheet after the payment of the dividends is a reduction in current asset-cash by $8580 as well as a drop in equity-specifically retained earnings by the same amount.

B.Total assets (book and market values) will decrease by $8580 and equity and liabilities on the other hand will also reduce by $8580.

A.The accounting entries in respect of the dividend payment will be :

Debit Retained earnings $8580

Credit Cash $8580

Explanation:

The dividends of $1.43 gives $8580 in total i.e $1.43*6000 shares

The impact of the dividend payment will be in terms of reduction in cash available for daily operations and reduction in funds attributable to shareholders.

3 0

2 years ago

Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the incep

Paul [167]

Answer:

Total Costs Transferred Out 906422.4

Difference may be due to rounding .

Explanation:

Samantha's Office Supplies

Equivalent units

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Completed and

transferred out 162,000 (100% ) (100% ) 162,000 162,000

WIP,

Normal Spoilage 6,480 (100% ) (100% ) 6,480 6,480

Ending inventory 30,000 (100% ) (25% ) 30,000, 7,500

Accounted For 198,480 198,480 175,980

Costs: Total Direct materials Conversion costs

WIP, beginning

inventory: 388,000 $ 300,000 88,000

Costs Added 639618 419,832 219,786

Total Costs

To Account for 1027618 719,832 307786

Divided By

Equivalent Units 198,480 175,980

Equivalent Unit Costs 5.38 3.63 1.75

Assignment of Costs 

Transferred out ( 5.38* 162,000)= 871560

Normal Spoilage (5.38* 6480)= 34862.4

Total Costs Transferred Out 906422.4

Difference may be due to rounding .

5 0

2 years ago