Calculate Sapphire's trend analysis for revenues and cost of goods sold. Use 2015 as the base year, and round to the nearest percent.
Sapphire Corp. reported the following revenues and net income amounts.
Trend analysis for revenue
Trend analysis = (Any period amount/Base period amount) × 100
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Darlington Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased $13,900 of merchandise on account under terms 2/10, n/30. 2) The company returned $3400 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $21,800 cash. What effect will the return of merchandise to the supplier in event (2) have on Darlington's financial statements?
A. Assets and stockholders' equity decrease by $3400. B. Assets and liabilities decrease by $3400. C. Assets and liabilities decrease by $3332. D. None. It is an asset exchange transaction.
Trading on the equity is likely to be a good financial strategy for stockholders of companies having:
a. Cyclically high and low amounts of reported earnings. b. Steadily declining amounts of reported earnings. c. Volatile fluctuations in reported earnings over short periods of time. d. Steady amounts of reported earnings.
What does the stepping-stone method do?
What will be an ideal response?
Grain from Harvest Farms is wrongfully commingled with grain from Idyllic Fields, which obtains possession of all of the grain. This is
A. a bailment. B. accession. C. confusion. D. production.