Use the information in Table 13.11. What can be said about a plan that ships 30,000 gallons from 1 to A; 6,000 gallons from 1 to C; 24,000 gallons from 2 to B; 24,000 gallons from 2 to D; and 30,000 gallons from 3 to C?
A) It is not feasible in terms of wholesaler availabilities.
B) It is not feasible in terms of satisfying distribution center demands.
C) It is feasible, and the total monthly cost is less than or equal to $260,000.
D) It is feasible, and the total monthly cost is greater than $260,000.
C
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Basing our impressions solely on an abbreviated behavioral pattern is known as ______.
A. trusting B. thin slicing C. impression theory D. perception
For the year ending December 31, 2019, the partnership reported a net loss of $122,000. The journal entry to record the loss allocation will ________.
Lori and Mike enter into a partnership and decide to share profits and losses as follows: 1. The first allocation is a salary allowance with Lori receiving $12,000 and Mike receiving $25,000. 2. The second allocation is 20% of the partners' capital balances at year end. On December 31, 2019, the capital balances for Lori and Mike are $86,000 and $344,000, respectively. 3. Any remaining profit or loss is allocated equally. A) debit Lori, Capital for $93,300 B) debit Lori, Capital for $28,700 C) debit Mike, Capital for $93,800 D) credit Mike, Capital for $93,800
A ratio that might change substantially if items of other comprehensive income were included is:
a. current ratio. b. gross profit margin. c. inventory turnover. d. return on investment.
Macmillan Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$156,000 $120,000 Accounts receivable, net 268,000 280,000 Inventory 146,000 130,000 Prepaid expenses 20,000 20,000 Total current assets 590,000 550,000 Plant and equipment, net 732,000 760,000 Total assets$1,322,000 $1,310,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$175,000 $180,000 Accrued liabilities 46,000 50,000 Notes payable, short term 80,000 80,000 Total current liabilities 301,000 310,000 Bonds payable 190,000 190,000 Total liabilities 491,000 500,000 Stockholders' equity: Common stock, $5 par
value 450,000 450,000 Additional paid-in capital 70,000 70,000 Retained earnings 311,000 290,000 Total stockholders' equity 831,000 810,000 Total liabilities & stockholders' equity$1,322,000 $1,310,000 Income Statement-Year 2For the Year Ended December 31, Year 2Sales (all on account)$1,390,000 Cost of goods sold 830,000 Gross margin 560,000 Operating expenses 500,615 Net operating income 59,385 Interest expense 16,000 Net income before taxes 43,385 Income taxes (35%) 15,185 Net income$28,200 Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's acid-test (quick) ratio at the end of Year 2 is closest to: A. 1.96 B. 1.20 C. 1.41 D. 1.48