Answer:
Cost of Inventory = Selling Prices - Cost to Sell - Reasonable Profit Allowance
Explanation:
Acquisition Accounting tells about how to report accounts and with what amount in a consolidated financial statements. It also helps in assigning values to goodwill, NCI and combined business operations like Marketing, Selling, Manufacturing costs, etc.
Under Acquisition Accounting the net assets are always valued at their fair market value and the inventory is reported at:
Cost of Inventory = Selling Prices - Cost to Sell - Reasonable Profit Allowance
Answer:
Three sources of financing to a business includes;
1) Angels (National Angel Capital Organization, NACO)
Wealthy and experienced retired industry leaders, that invest in startups, require transparency, and take charge of the supervision of the business management practices
2) Business Accelerator or Incubators (MaRS; MaRS Discovery District)
An incubator provide enabling environment and resources for startups to develop ideas before going into production
3) Bank Loans (Business Development Bank of Canada, BDC)
Bank provide loans to startup with a good idea and an accompanying excellent business plan, and personal guarantee
Explanation:
Explanation:
Strategic planning is important to an organization because it provides a sense of direction and outlines measurable goals. Strategic planning is a tool that is useful for guiding day-to-day decisions and also for evaluating progress and changing approaches when moving forward.
Answer:
a. True
Explanation:
The social-ecological model is the model that comprises of an individual, relationship, community and societal. here individual is based on age, education income, etc. The relationship can be in family, peer group, etc. The community could be in social, school, religious places, etc. And, the societal could be in society and its cultural norms
Based on the given situation, the statement is true as the factors could be changed according to the level of intrapersonal.
Answer:
1.
Dr Purchases 30,070
Cr Accounts payable 30,070
2.
Dr Accounts payable 30,070
Cr Cash 30,070
3.
Dr Accounts payable 30,070
Dr Interest expense 930
Cr Cash 30,000
Explanation:
Meteor Co. Journal entry
1.
Dr Purchases 30,070
($31,000 x .97)
Cr Accounts payable 30,070
2.
Dr Accounts payable 30,070
Cr Cash 30,070
3.
Dr Accounts payable 30,070
Dr Interest expense 930
(31,000-30,070)
Cr Cash 30,000
Since the company purchased merchandise at a price of $31,000 in which it was been subject to credit terms of 3/10 that means 100%-3% credit term will give us 97% credit term ×$31,000 which enabled us to arrived at 30,070.
