Answer:
Explanation:
Question 27
If Wheat Company had used the FIFO inventory method, income before income taxes would have been $75,000 higher in the current year. As inventory is an asset to the company. Therefore the $75,000 in inventory would have increased the company's asset and increasing the income before taxes.
Question 28
Other things held constant, which of the following will NOT affect the current ratio, assuming an initial Not yet current ratio greater than 1.0?
C. Accounts receivable are collected in cash.
Current ratio measures a company's ability to pay short-term obligations as at when due. It indicates that a company can manage its debts and other payable when their current assets is well managed.
It is calculated as Current Asset/ Current Liability. A ratio of 1 and above is the best meaning that a company an manage its debts obligations well.
Basically, an interest rate is an amount that is added on top of the principal amount most especially in loans. This is expressed in a form of percentage, depending on the amount and interest rate being agreed upon. The answer for this would be the second option. Hope this helps.
Answer:
A) a $50,000 ordinary loss and $70,000 LTCL
Explanation:
given data
Brown stock = $30,000
stock basis = $150,000
time = 3 year
solution
we know that here stock is Section 1244 stock and original owner is Amy
so
first loss is for single individuals is = $50000
and this loss is treated as a ordinary loss LTCL because stock held more than 12 month
remaining amount = 70000
and we know it take here time 3 year
so total loss realized is
total loss realized $50000 + $70000
total loss realized = $120000
so correct option is A) a $50,000 ordinary loss and $70,000 LTCL
Answer:
cumulative.
Explanation:
Cumulative preferred stock is defined as a type of stock that states that if any dividend payments have been missed the first payment of the owed dividends must be done to cumulative preferred shareholders in first instance
