Prepare the journal entries to record the following transactions for Blossom Company, which has a calendar year end and uses the straight-line method of depreciation. On September 30, 2022, the company sold old equipment for $124,200. The equipment was purchased on January 1, 2020, for $259,200 and was estimated to have a $43,200 salvage value at the end of its 5-year life. Depreciation on the equipment has been recorded through December 31, 2021.
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Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)
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Suppose you hold a portfolio consisting of a $10,000 investment in each of 8 different common stocks. the portfolio's beta is 1.25. now suppose you decided to sell one of your stocks that has a beta of 1.00 and to use the proceeds to buy a replacement stock with a beta of 1.55. what would the portfolio's new beta be? do not round your intermediate calculations.
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Prepare the journal entries to record the following transactions for Blossom Company, which has a ca...
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