Answer:
True
Explanation:
A flexible budget is a budget in which you modify the activity levels to reflect changes in sales to help the company adjusts to different circumstances that may occcur. Also, in this budget the fixed costs remain constant and the variable costs change with the activity levels. According to this, the answer is that the statement that says that a flexible budget reporting sales volumes at three different levels will have the same fixed costs is true.
Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
<h3>What is meant by current liability?</h3>
This is the term that is used to refer to all of the financial obligations that the customer would have to have due to themselves in the long run. These are the liabilities that are known to be dropped in the current assets and would then be settled in the course of a year.
Hence we can say that Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
Read more on Current liabilities here: brainly.com/question/28039459
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Answer:
the current total contribution margin = 100 x 60% x ($80 - $20) = $3,600 per day
scenario 1: $10 discount
$3,600 = 100 x ?% x ($70 - $20)
$3,600 = $5,000 x ?%
$3,600 / $5,000 = ?%
occupancy rate = 72%
scenario 2: 10% discount
$3,600 = 100 x ?% x ($72 - $20)
$3,600 = $5,200 x ?%
$3,600 / $5,200 = ?%
occupancy rate = 69.23%
Answer:
The correct option is A,Debit Land and Building, $130,000; Credit Common Stock, $5,000; Credit Paid-in Capital in Excess of Par Value, Common Stock, $125,000.
Explanation:
The sum of the two market values of both land and building is $130,000($100,000+$30,000),which would be debited to land and building account to show that the asset has increased due to new acquisition.
In the common stock account the par value of the shares which is $5,000($1*5000) would be credited to it.
The difference between the market value of assets acquired and the common stock amount which is $125,000($130,000-$5,000) would be credited to paid in capital in excess of par account.
