Depot Max's inventory turnover for the year is 8.3
Given
Cost of goods sold = $56900
Begining Jovenstory = $6540
Ending Inventory = $7250 .
Average inventory = opening inventory + closing inventory / 2
= $6 540 + $-7250 / 2
Average inventory = $6895
cost of goods old
.: Inventory turnover = cost of goods sold / Average inventory
56900 / 6895
= 8. 252 times
He Depot Max's Inventory 8.3 times (approx ).
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Answer:
$250 ( C )
Explanation:
using the given data below is the entry
The adjusting entry to recognize bad debts will include a debit to bad debt expense for
<h3>
particulars amount</h3>
Beginning accounts receivable 14000
+ Credit sales made during the year 172000
(-) collections from debtors (170000)
(-) expected salary return & allowances for credit sales (2000)
Ending accounts receivable 14000
Percentage of bad debt 1.5%
Total bad debts balance required ( 14000*1.5%) 210
+ Already debit balance in allowance for doubtful account 40
Total debit to be made in bad debts 250
Total debts = total bad debts balance required + already debit balance in all
= 210 + 40 = $250
Answer:
$31. 15
Explanation:
From the question we are required to find the new stock price considering that no market imperfections or tax effects exist.
stock dividend = 22 percent
Amount per share = $38
At a a stock dividend of 22 percent, new share price would be
= $38(1 / 1.22)
= $31.15
Answer:
B. $9,957.
Explanation:
The computation is adjusted amount for Uncollectible account expense is shown below:
= The estimated total uncollectible accounts + debit balance of Allowance for uncollectible accounts
= $7,322 + $2,635
= $9,957
For computing the adjusted amount we added the estimated total uncollectible accounts and the debit balance of Allowance for uncollectible accounts
Answer:
Capitalized value = $188000
Explanation:
Land should be capitalized by fair market value of share exchanged less any recovery of scrap as land will be developed for future plant.
Fair value of shares = $50*4000 = $200000
Less: value of scrap = $12000
Capitalized value = $188000
