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Progressive Company reported the following asset values in 2014 and 2015: Cash 2015-$50000 2014-$45000 Accounts receivable 2015-$300000 2014-$220000 Inventory 2015-$650000 2014-$510000 Land 2015-$600000 2014-$400000 Buildings 2015-$900000 2014-$800000 Equipment 2015-$350000 2014-$250000 In addition, in 2015, Progressive had sales of $4,800,000; cost of good sold for the year was $2,900,000. As of the end of 2014, the fair value of Progressive's total assets was $3,000,000. Of the excess of fair value over book value, $100,000 resulted from the fact that Progressive uses LIFO for inventory valuation. As of the end of 2015, the fair value of Progressive's total assets was $3,800,000, and Progressive's LIFO reserve was $150,000. 1. Compute Progressive's fixed asset turnover ratio for 2015. 2. Using the fair value of fixed assets instead of their book values, recompute Progressive's fixed asset turnover ratio for 2015. State any assumptions that you make.
1. what restriction on federal employees are contained in the the antideficiency act?nbsp give an example of each.2.
develop an argument supporting the use of flexible-budget variance analysis to control the costs of activity areas in
Which of the following statements regarding the contribution margin ratio is not true?
At year-end, the company declares a 10 percent stock dividend-one share for each 10 shares held. If all parties concerned clearly recognize the nature of the stock dividend, what should you expect the market price per share of the common stock to ..
The legal effect of the presence of a superceding event is that:
which of the following is not a mechanism that helps aligning management and owner interests?a possibility of a hostile
freds fasteners is a manufacturing company that has decided they are large enough to choose to be self-insuring for
The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $20,000 and a loan balance of $40,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year.
During the past year, a company completed the following transactions related to the acquisition of property and the construction thereon of a new factory:
Orosco Supply Co. has the following transactions related to notes receivable during the last 2 months of 2008.
Schiller Company has stockholders" equity of $400,000 and net income of $72,000. It has a payout ratio of 18% and a return on assets ratio of 20%. How much did Schiller pay in cash dividends, and what were its average total assets?
Define the terms variable costs, fixed costs, and mixed costs - classify each cost above as either variable, fixed, or mixed.
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