Which of the following trade credit terms for goods and services purchased would be least desireable to the purchasing firm?
A) 2/10 net 30
B) 1/10 net 30
C) 3/15 net 30
D) Unless we know the firm's cost of borrowing we cannot determine which set of terms is least preferred.
B
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State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investingactivities, financing activities, or not reported) and the amount that would be reported for each of the followingtransactions: (a)
Received $120,000 from the sale of land costing $70,000. (b) Purchased investments for $75,000. (c) Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginningof the year, and $6,000 were payable at the end of the year. (d) Acquired equipment for $64,000 cash. (e) Declared and issued 100 shares of $20 par common stock as a stock dividend, when themarket price of the stock was $32 a share. (f) Recognized depreciation for the year, $37,000. (g) Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash. (h) Issued $500,000 of 20-year, 10% bonds payable at 99. (i) Borrowed $43,000 from Regional Bank, issuing a 5-year, 8% note for that amount.
Which of the following statements is true of a merchandise category?
A. It is the largest unit available for keeping inventory. B. It is the basic unit of analysis for merchandising decisions. C. It is the unit of inventory least affected by seasonal trends. D. It is the smallest unit available for keeping inventory. E. It is an assortment of complementary SKUs.
During 2018, Landers Company had net sales of $17,700,000. The beginning total assets were $10,000,000. The asset turnover ratio was 1.5 times. Calculate the ending total assets of Landers. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $13,600,000 B) $10,000,000 C) $15,900,000 D) $5,900,000
Freight-in is considered a cost of purchasing inventory
Indicate whether the statement is true or false