Greg is the owner of a full-service car wash. For the month of December he paid $2,000 in rent, $700 in utilities, $2,950 in salaries, and $50 on advertising. A full service car wash costs $10.50. Unit variable costs per car wash are $2.50. How many full-service car washes does Greg need to sell to break-even each month?
A. 619
B. 713
C. 625
D. 476
E. 543
Answer: C
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Presented below are the financial balances for the Boxwood Company and the Tranz Company as of December 31, 2017, immediately before Boxwood acquired Tranz. Also included are the fair values for Tranz Company's net assets at that date. Boxwood Tranz Co. Tranz Co.?(all amounts in thousands) Book value Book value Fair value 12/31/2017 12/31/2017 12/31/2017Cash$870 $240 $240 Receivables 660 600 600 Inventory 1,230 420 580 Land 1,800 260 250 Buildings (net) 1,800 540 650 Equipment (net) 660 380 400 Accounts payable (570) (240) (240)Accrued expenses (270) (60) (60)Long-term liabilities (2,700) (1,020) (1,120)Common stock ($20 par) (1,980) Common stock ($5
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Answer the following statement(s) true (T) or false (F)
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Indicate whether the statement is true or false