Answer:
Longhorn Goodwill=$7920
Longhorn should record goodwill on this purchase of $7920.
Explanation:
Longhorn Goodwill=Price Paid to Acquire - Total fair Assets
Total Fair Assets=Fair Value of Assets-Fair Value if Liabilities
Total Fair Assets= $89,900-$15,200
Total Fair Assets= $74,700
Longhorn Goodwill=Price Paid to Acquire - Total fair Assets
Longhorn Goodwill=$82,620-$74,700
Longhorn Goodwill=$7920
Longhorn should record goodwill on this purchase of $7920.
Answer:
an uninformed sales rep.
Explanation:
The phrase 'I don't know 'is forbidden in the customer service language. It implies that the customer service agent lacks knowledge or basic training to perform his or her duties. The expression reflects poorly on the agent and the employer.
Customers expect service agents to know most, if not everything, about their organization's products and services. That's the reason they seek support from the service department
Answer:
You will be able to Buy fewer goods or services
Explanation:
This is because certificate of deposits usually pay lower than the inflation rate.
The certificate of deposit is deposit with banks over a fixed period of time and accruing a specific pre-agreed rate of interest.
Over the life of the Certificate, the amount cannot be withdrawn. Withdrawing any or all of the deposits will result in penalty charges against the depositor.
Answer:
$6,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Since the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31, 2016, the additional amount to be allowed
= $7200 - $1200
= $6000
This will be posted as
Debit Bad debt expense $6000
Credit Allowance for doubtful debt $6000
Answer:
the information is missing, so I looked for a similar question and found the attached image:
a) days inventory on hand = (average inventory / cost of goods sold) x 365 = ($14,000 / $120,000) x 365 = 42.58 days
b) inventory turnover ratio = cost of goods sold / average inventory = $120,000 / $14,000 = 8.57
I agree with Mr. David because the inventory turnover ratio of Golden Cup is already higher than the industry's average. That means that Golden Cup's current inventory level is appropriate and increasing it would only result in higher costs but would have very little influence on the company's sales.
