Answer:
$ 10512000
Explanation:
The market value of Madison investment which is the aggregate value of the company's investment =$ 12 million
The book value = assets - liabilities = (1700000 - 419000) ×0.4 = $ 51240
The year-end balance = $ 51240 + $ 10 million = $ 10512000 approx
Answer:
Explanation:
The profits of a company may be used to invest in equipment, land or some other capital as a one time purchase.
the company may anticipate that they will not make a profit in the following year so they need the current year profits to absorb that loss.
Answer:
The correct answer to the following question is option B) the salary of the corporation president.
Explanation:
In the given question , all the options except option (B) , would be assigned to a particular product , while segmenting on a income statement. A product advertising cost which a company incurred while promoting the product, the direct material cost which a company while in the production of project and a production managers salary would also be included in the product cost. A corporations president who is in the higher level of management in the company, is responsible for making decisions regarding company's vision , strategy development , public relations etc , his or her salary would not be included in product cost.
Answer: $314000
Explanation:
Based on the information given in the question, the cost of raw materials purchased will be calculated thus:
Materials used = Beginning inventory + Purchases - Ending inventory
$290000 = $86000 + Purchases - $110000
Purchases = $290000 + $110000 - $86000
= $314000
The cost of raw materials is $314000.
