Back Company sold merchandise on credit. Its gross profit ratio is 23%. The effect of this transaction is that the
a. earnings per share decreased
b. current ratio was unchanged
c. debt-to-equity ratio increased
d. earnings per share increased
d
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In 2019, Ramon sold land that had cost $80,000 for $200,000. The sales agreement called for a $50,000 down payment and a $50,000 payment plus 8% interest to be received on the first day of each year for the next three years. What would be the consequences of the following (treat each part independently and assume that Ramon uses the installment method whenever possible): a.In 2019, Ramon gave one of the $50,000 installment obligations to a close relative. b.In 2019, Ramon transferred the installment obligations ($50,000) to his 100% owned corporation. c.Ramon collected the $50,000 plus $12,000 interest on January 1, 2020, and died on January 2, 2020.?
What will be an ideal response?
An internal locus of control means that ______.
a. leadership decisions are controlled from inside the body b. leadership decisions are controlled from inside the organization or work group c. leadership decision are made autocratically d. the things that happen to an individual in life are mostly due to his or her own actions and efforts
Gomez Company purchases a piece of equipment on Jan. 2, 2014, for $30,000. The equipment has an estimated life of eight years or 50,000 units of production and an estimated residual value of $3,000. Lester uses a calendar fiscal year. The entry to record the amount of depreciation for 2014, using the production method and assuming 8,000 units are produced, is
A) debit to Depreciation Expense, 4,000; credit to Cash, 4,000. B) debit to Cash, 4,160; credit to Accumulated Depreciation, 4,160. C) debit to Depreciation Expense, 4,320; credit to Accumulated Depreciation, 4,320. D) debit to Depreciation Expense, 4,800; credit to Accumulated Depreciation, 4,800.
The two main issues management must consider in designing an international company's structure are (1) ______ to most effectively take advantage of efficiencies gained from specialization of labor and (2) ______ the resulting departments' activities to meet the firm's overall objectives.
What will be an ideal response?