Joyce’s office building was destroyed in a fire (adjusted basis of $350,000; fair market value of $400,000). of the insurance proceeds of $360,000 she receives, joyce uses $310,000 to purchase additional inventory and invests the remaining $50,000 in short-term certificates of deposit. she received only $360,000 because of a co-insurance clause in her insurance policy. what is joyce’s recognized gain or loss?

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above

Precision aviation had a profit margin of 6.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8. what was the firm's roe? a. 15.23%b. 16.03%c. 16.88%d. 17.72%e. 18.60%