Fox co. operates a retail store. all items are sold subject to a 6% state sales tax, which fox collects and records as sales revenue.

fox files quarterly sales tax returns when due, by the 20th day following the end of the sales quarter. however, in accordance with state requirements, fox remits sales tax collected by the 20th day of the month following any month such collections exceed $500.

fox takes these payments as credits on the quarterly sales tax return. the sales taxes paid by fox are charged against sales revenue.

following is a monthly summary appearing in fox's first calendar quarter sales revenue account:

debit credit january $ -- $10,600 february 600 7,420 march -- 8,480 $600 $26,500

in its march 31 balance sheet, what amount should fox report as sales taxes payable?

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.