The current asset section of the balance sheet should include:
a. land.
b. trademarks.
c. investment in C Company (for purposes of control).
d. dividends payable.
e. work in process inventory.
E
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Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for operating expenses using Net sales as the base. Year 2Year 1Net sales$276,200 $231,400 Cost of goods sold 151,900 129,590 Operating expenses 55,240 53,240 Net earnings 27,820 19,820
A. 23.9% for Year 2 and 23.0% for Year 1. B. 20.0% for Year 2 and 23.0% for Year 1. C. 103.8% for Year 2 and 100.0% for Year 1. D. 36.4% for Year 2 and 41.1% for Year 1. E. 55.0% for Year 2 and 56.0% for Year 1.
Among international firms, which focus on exporting and producing abroad, cultural diversity has a relatively weak impact on their external relationships with potential buyers and foreign employees.
Answer the following statement true (T) or false (F)
Adequacy of Consideration. In 1972, Thomas L. Weinsaft signed a written agreement with his son, Nicholas L. Weinsaft. Thomas agreed that during his lifetime he would not transfer any interest in his 765 shares of stock of Crane Manufacturing Co unless
he first gave Nicholas an opportunity to purchase it, and on Thomas's death, Nicholas would have the "option and right to purchase all of the stock" from the estate. The agreement stated that it was entered into "In consideration of $10.00 and other good and valuable consideration, including the inducement of Second Party
The Sands Company manufactures and sells several products, one of which is called a slip differential. The company normally sells 30,000 units of the slip differentials each month. At this activity level, unit costs are: Direct materials$4 Direct labor 3 Variable manufacturing overhead 4 Fixed manufacturing overhead 5 Variable selling 3 Fixed selling$1 An outside supplier has offered to produce the slip differentials for the Sands Company, and to ship them directly to the Sands Company's customers. This arrangement would permit the Sands Company to reduce its variable selling expenses by one third (due to elimination of freight costs). The facilities now being used to produce the slip differentials would be idle and fixed manufacturing overhead would continue at 60
percent of its present level. The total fixed selling expenses of the company would be unaffected by this decision.Required:What is the maximum acceptable price quotation for the slip differentials from the outside supplier? What will be an ideal response?