Corner books has sales of $687,400, cost of goods sold of $454,200, and a profit margin of 5.5 percent. the balance sheet shows common stock of $324,000 with a par value of $5 a share, and retained earnings of $689,500. what is the price-sales ratio if the market price is $43.20 per share?
a. 4.28b. 12.74c. 6.12d. 4.07e. 14.51

Select the correct answer. the word intestate means that a person has died with or without a will?

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.