Unsold consigned merchandise should be included in the consignee's inventory
Indicate whether the statement is true or false
False
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Describe the difference between a balance sheet and an income statement.
What will be an ideal response?
A score derived from an individual's credit history and other factors that is used by many auto and homeowners insurers for underwriting and rating purposes is called a(n)
A) CLUE score. B) insurance score. C) expense ratio score. D) combined ratio score.
Under the 1934 Act, an issuer must register with the SEC if A) it has not completed a public offering under the 1933 Act
B) its securities are not going to be traded on a national exchange. C) it will not be providing investors with a prospectus. D) it has at least 2,000 shareholders and total assets that exceed $10 million.
The condensed balance sheet and income statement for Marjoram Company are presented below.MARJORAM COMPANYBalance SheetAt December 31, 2021Cash$27,000? Notes receivable (due August 15, 2022) 45,000? Accounts receivable (net) 51,600? Merchandise inventory 75,400? Property, plant, and equipment (net) 330,000? Intangible assets 15,600? Total assets$544,600? Current liabilities$121,000? Bonds payable(10%) (long-term) 125,000? Common stock 64,000? Retained earnings 234,600? Total liabilities and equity$544,600? MARJORAM COMPANYIncome StatementFor the Year ended December 31, 2021Sales$944,000? Cost of goods sold 502,400? Gross profit$441,600? Operating expenses 185,400? Operating income$256,200? Interest
expense 12,500? Income before income tax$243,700? Income tax expense 73,110? Net income$170,590? Required:Compute the return on shareholders' equity ratio for Marjoram Company. (Round your percentage answer to nearest whole percent.)Return on shareholders' equity% What will be an ideal response?