Business, 06.05.2020 01:00 pineapplepizaaaaa
Cinnamon Buns Co. (CBC) started 2021 with $53,500 of merchandise on hand. During 2021, $283,000 in merchandise was purchased on account with credit terms of 2/10, n/30. All discounts were taken. Purchases were all made f. o.b. shipping point. CBC paid freight charges of $10,500. Merchandise with an invoice amount of $4,600 was returned for credit. Cost of goods sold for the year was $319,000. CBC uses a perpetual inventory system. Assume instead that (a) freight costs were paid by the vendor, (b) no discounts were taken, and (c) the merchandise on hand at the beginning of 2021 was determined by a physical count that failed to realize that $11,500 of merchandise was being held on consignment for Frosting R Us Inc. What is cost of goods available for sale, assuming CBC uses the gross method to record purchase discounts?
Answers: 2
Business, 21.06.2019 15:00
Becky fenton has 40/80/40 automobile insurance coverage. if two other people are awarded $75,000 each for injuries in an auto accident in which becky was judged at fault, how much of this judgment would the insurance cover?
Answers: 1
Business, 22.06.2019 10:00
University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.
Answers: 1
Business, 22.06.2019 11:40
In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?
Answers: 2
Business, 23.06.2019 11:00
Which of the following makes a true statement about the relationship between government and financial institutions? government and financial institutions do not interact with each other. financial institutions like the u.s. treasury must approve increases in the government deficit. government can pass laws to limit what financial institutions can charge in interest and fees. financial institutions like local banks must approve interest rates set by the federal reserve.
Answers: 2
Cinnamon Buns Co. (CBC) started 2021 with $53,500 of merchandise on hand. During 2021, $283,000 in m...
Social Studies, 30.01.2020 21:48
Mathematics, 30.01.2020 21:48
Biology, 30.01.2020 21:48
History, 30.01.2020 21:48
Mathematics, 30.01.2020 21:48
English, 30.01.2020 21:48
Mathematics, 30.01.2020 21:48
History, 30.01.2020 21:48
Biology, 30.01.2020 21:48