Vista Company's has 32 days' payable outstanding based on the current year's cost of goods sold of $11,315. What is Vista's balance in accounts payable?
A. $992
B. $950
C. $998
D. $870
E. $975
Answer: A
You might also like to view...
According to the GASB (Governmental Accounting Standards Board), which one of the following is not a criterion for determining whether a government is legally separate?
A. The government has corporate powers including the right to sue and be sued. B. The government can issue bonded debt. C. The government can determine its own budget. D. The government has the power to levy taxes. E. The government can issue preferred stock.
Francine incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and tax-adjusted bases. FMV Adjusted basisInventory$30,000 $10,000Building 130,000 80,000Land 50,000 100,000Total$210,000 $190,000 The corporation also assumed a mortgage of $60,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $150,000.a. What amount of gain or loss does Francine realize on the transfer of the property to her corporation?b. What amount of gain or loss does Francine recognize on the transfer of the property to her corporation?c. What is
Francine's basis in the stock she receives in her corporation? What will be an ideal response?
A rule that establishes maximum length of work shifts for air traffic controllers demonstrates an agency imposing a regulation.
Answer the following statement true (T) or false (F)
Lemminburg Plastics estimates a 60% probability that sales of pink flamingo lawn ornaments in the summer of 2011 will be 45,000 units, about the same as in 2010
They believe there is a 20% probability that they will go viral and potential sales would be 90,000. There is also a 20% probability that restrictive zoning ordinances will limit sales to 30,000 units. Expected unit sales of the pink flamingos are A) 55,000. B) 51,000. C) 67,500. D) 60,000.