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2 years ago

List three impulse convenience goods that you or someone you know has purchased

Business

1 answer:

Archy [21]2 years ago

4 0

Answer:

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Explanation:

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On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $52 million at par and classified the securit

sineoko [7]

Answer:

Transaction gain = $16 million

Explanation:

Given:

Purchase amount = $52 million

December 31, 2021, bonds value = $46 million

October 3, 2022, bonds sold = $62 billion

Computation:

Using multi-step approach

Transaction gain = October 3, 2022, bonds sold - December 31, 2021, bonds value

Transaction gain = $62 million - $46 million

Transaction gain = $16 million

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2 years ago

Someone who does not have an aptitude or ability in a career area is at disadvantage if they select a career in that

REY [17]

Someone who does not have an aptitude or ability in a career area is at a disadvantage if they select a career in that field. ... When working on developing an ability, it is important to get feedback to know how you are doing. True. Jobs that require you to use your aptitudes are typically unrewarding

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2 years ago

Read 2 more answers

Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2017 Dec. 31, 2016 Current ass

stiks02 [169]

Answer:

Liquidity measures for the year 2017 are as under:

Current Ratio = 1.5

Working Capital = $100,000

Acid Test Ratio = 0.95

Accounts Receivables Turnover = 10 times

Inventory turn over = 4 times

Explanation:

Current Ratio

Current Ratio = Current Assets ÷ Current Liabilities

Dec 31, 2017 Dec 31, 2016

$300,000 ÷ $200,000 $245,000 ÷ $155,000

Current Ratio 1.5 1.6

Working Capital

Working Capital = Current Assets – Current Liabilities

Dec 31, 2017 Dec 31, 2016

$300,000 – $200,000 $245,000 – $155,000

Working Capital $100,000 $90,000

Acid Test Ratio

Acid Test Ratio = (Current Assets – Inventory) ÷ Current Liabilities

Dec 31, 2017 Dec 31, 2016

($300,000 – $110,000) ÷ $200,000 ($245,000 – $90,000) ÷ $155,000

Acid Test Ratio 0.95 1.00

Accounts Receivables Turnover Times

Accounts Receivables Turnover = Credit Sales ÷ Average Accounts Receivables

Average Accounts Receivables = (Opening Accounts Receivables + Closing Accounts Receivables) ÷ 2

Average Accounts Receivables = ($55,000 + $95,000) ÷ 2 = $75,000

Accounts Receivables Turnover = $750,000 ÷ $75,000 = 10 Times

Inventory Turnover Times

Inventory Turnover = Cost of Goods Sold ÷ Average Inventory

Average Inventory = (Opening Inventory + Closing Inventory) ÷ 2

Average Inventory = ($110,000 + $90,000) ÷ 2 = $100,000

Inventory Turnover = $400,000 ÷ $100,000 = 4 Times

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3 years ago

Television programs are nonrivalous because:_______

Scilla [17]

Answer:

(B) more than one person can consume the same unit of the good at the same time.

Explanation:

A service is rival in consumption if the same unit of the good cannot be consumed by more than one person at the same time and nonrival in consumption if more than one person can consume the same unit of the good at the same time.

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3 years ago

The following transactions occur for Cardinal Music Academy during the month of October:

tamaranim1 [39]

Answer:

The entries to record the transactions are given below.

a. Provide music lessons to students for $7,000 cash.

Debit Cash Asset $ 7000

CreditService Revenue income $ 7000

b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash.

Debit Prepaid Insurance equipment Asset $ 3000

Credit Cash Asset $ 3000

c. Purchase musical equipment for $10,000 cash.

Debit Equipment Asset $ 10,000

Credit Cash Asset $ 10,000

d. Obtain a loan from a bank by signing a note for $10,000

Debit Cash Asset $ 10,000

Credit Notes payable $ 10,000

7 0

2 years ago