Most limited liability company statutes have no provisions regarding members' meetings.
Answer the following statement true (T) or false (F)
True
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If raw materials inventory purchases are equal to 60% of the following month’s sales, 50% of purchases are paid for in the month following the purchase, and the remainder is paid in the following month, what formula would you need to enter in D9 to find the purchases in October?
a) =$B$9*C2
b) =$B$9*E2
c) =$B$11*E2
d) =$B$9*D2
Paris, Inc. holds 100 percent of the common stock of Stockholm Company, an investment acquired for $520,000. Immediately following the combination, Paris's net assets have a book value of $900,000 and a fair value of $1,050,000. The book and fair value of Stockholm's net assets on the date of combination are $350,000 and $425,000, respectively. Immediately following the combination, a consolidated balance sheet is prepared.Based on the information given above, what will be the amount of net assets reported in the consolidated balance sheet?
A. $1,420,000 B. $900,000 C. $1,250,000 D. $1,325,000
Which of the following statements is true?
A) The direct materials purchases budget is determined from the direct labor budget. B) The sales budget is the only budget based on an estimate of customer demand. C) The capital expenditures budget are prepared from the production budget. D) The selling and administrative expense budget is input into the forecasted cost of goods sold.
The balance in Discount on Bonds Payable
A) should be reported on the balance sheet as an asset because it has a debit balance B) should be allocated to the remaining periods for the life of the bonds by the straight-line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method C) would be added to the related bonds payable to determine the carrying amount of the bonds D) would be subtracted from the related bonds payable on the balance sheet