An event that took place during the "year of the environment" in 1970 is ____

True or false? reintermediation in the health care channel would be represented by a company such as zocdoc.

34kurt

Possibly it is true....

8 0

3 years ago

Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,600 units ar

CaHeK987 [17]

Answer:

$45,520

Explanation:

Given that

Sales budget = 3,600 units

Variable selling and administrative expense = $4.10

Fixed selling and administrative expenses = $35,860

Depreciation expenses = $5,100

The computation of selling and administrative expenses is shown below:-

= Variable selling and administrative expenses + (Fixed selling and administrative expenses - Depreciation expenses)

= (3,600 unit × $4.10) + ($35,860 - $5,100)

= $14,760 + $30,760

= $45,520

8 0

3 years ago

The number of days' sales in inventory is calculated as __________ divided by __________.

Irina18 [472]

A. Average inventory; average daily cost of goods sold

8 0

3 years ago

Read 2 more answers

Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and

Anuta_ua [19.1K]

Answer:

c. $ 95,000 $ 0

Explanation:

Calculation of cost of land acquired

For the purpose of recording of land acquired in the books of accounts, the accounting values of consideration paid shall be considered as per the generally accepted accounting principles as well as as per International accounting standard (IAS) - 16 'Property, plant and equipment'. Hence the land shall be recorded as per the following amounts:

Consideration paid in cash (A) = $ 5,000

Consideration in kind (land) (B) = $ 90,000 (Refer Note 1)

Total cost of new land (A+B) = $ 95,000

Note 1

Fair value is irrelevant for the purpose of capitalization of asset (IAS-16)

Calculation of Gain/loss on disposal of land

No gain/loss needs to be recorded as the new asset shall be recorded in terms of the book value of old asset (i.e. net impact is already taken into account during the exchange transaction)

5 0

4 years ago

The following balances were taken from the books of Splish Corp. on December 31, 2017.Interest revenue $87,550 Accumulated depre

Karolina [17]

Answer:

Sales revenue 1,381,550

Sales discounts (46,550)

Sales returns and allowances (151,550)

net sales 1,183,450

Cost of goods sold (622,550)

gross profit 560,900

Admin and general expenses (98,550)

Selling expenses (195,550)

Operating Income: 266.800‬

Non-operating income:

Interest revenue 87,550

Interest expense (61,550)

Loss from earthquake

damage (151,550)

non-operating loss (125,550)

Income before taxes 141.250‬

income tax expense (34%) (48,025)

Net income 93,225‬

Explanation:

First, we calcualte net sales,

then the gross profit.

Then, the interest and earthquake will be disclosure separately as they are not operational result. Do not arise from the normal business operations.

Finally, the net income is determined after reducing the income tax expense

5 0

3 years ago

An event that took place during the "year of the environment" in 1970 is _____.