A firm's ending retail book value of inventory is $200,000 . Its stock shortages are $15,000 . If its cost complement is 0.63, what is its closing inventory at cost?
a. $9,450
b. $116,550
c. $166,000
d. $170,150
b
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When the equity method is used to account for a long-term investment in the stock of another company, the carrying value of the investment is affected by
A) declines in the market value of the stock. B) the earnings and dividends of the investee. C) an excess of market price over cost. D) neither the earnings nor the dividends of the investee.
Wallace Repair Corporation incurred $1,500 as a labor expense and promised to pay the labor agency within 30 days. Which of the following will decrease as a result of this transaction?
A) Assets B) Stockholders' equity C) Liabilities D) Revenues
Dishonor occurs when acceptance of an instrument cannot be obtained within the prescribed time.
Answer the following statement true (T) or false (F)
What must a brick-and-mortar company determine before it brings its business online?
(a) Whether it would like an expanded merchandise catalog for its online store. (b) Whether it is interested in issuing an IPO for the company in order to raise money. (c) The level of cooperation and integration between its separate online and offline entities. (d) Whether it would like the online and offline stores to have the same name.