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Which of the following statements regarding the contribution margin ratio is not true?
a. The contribution margin ratio is equal to the contribution margin per unit divided by the selling price.
b. The contribution margin ratio is the amount of each sales dollar that goes toward covering fixed costs and generating a profit.
c. The contribution margin ratio is equal to variable cost per unit divided by fixed cost per unit.
d. The contribution margin ratio is useful when companies that sell a variety of products calculate break-even point.
Discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. If an entity was perceived to be short term, what effect would that have on the accounting system?
During the year, accounts receivable decreased $7,000, merchandise inventory increased $5,000, accounts payable increased by $10,000, and depreciation expense of $5,000 was recorded. During 2007, operating activities:
There was no beginning inventory at 1/1/09. Production was 20 units per year in 2009-2011. Sales was 20 units in 2009, 16 units in 2010, and 24 units in 2011. Income under absorption costing for 2010 is:
Elston Company is authorized to issue 1,000,000 shares of $1 par value common stock. During 2002, its 1st year of operation the corporation has the following stock transactions:
Using the percentage of net sales method. uncollectible accounts expense for the year is $54000, balance of allowance for uncollectible is 18000 creedit befor adjustments what is the balance after adjustments?
Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the ..
in performing financial ratio analysis, what the do the results mean? do the answers provide conclusions on their own, or do we have to pt them in perspective by comparing them to prior periods, other companies or competitiors or industry standard..
NPV Project K costs $52,125, its expected net cash inflows are $12,000 per year for 8 years, and its WACC is 12 percent. What is the project's NPV?
Peter Company obtains all of the common stock of Sam Inc. by issuing 50,000 shares of its own stock. Under these circumstances, why might the determination of an acquisition price be difficult?
Use a selected company or your current work environment to identify at least one cost or expense that would fit under each of the following categories:
Ronald and Roy formed an equal partnership, R&R Partnership, a general partnership, on January 1, 2012. Ronald contributed $100,000 in exchange for his one-half interest in R&R partnership.
You take a deep breath because Jackson and Kara are about to walk through the door. While Jackson and Kara were very pleased with the refund they received after they filed last year's taxes, you have the feeling they're going to be looking for mor..
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