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NEW QUESTION 43
La Salle Company purchased 2.150 shares of Barry Chocolates Corporation's common stock at $25.16 per share on November 17 of last year. The broker's commission was $85. The shares were sold on January 11 of the current year for $27.50 per share. The broker's commission on the sale was $76 Barry declared and paid dividends of $0 50 per share on March 26. June 25. September 25. and December 23 during the last two years La Salle's current year income statement would reflect a realized gain of
- A. $4,946
- B. $5,022
- C. $5,031
- D. $4,870
Answer: D
NEW QUESTION 44
Scully Tools Company is currently completing its master budget for the coming year Immediately before the master budget is approved, it is determined that December sales should be revised upward by S120.000 .
Scully purchases merchandise on a just-in-time basis, and remits cash immediately through electronic transfer All sales are on account. 20% of the sales are collected in the month of sale, and 80% in the month following the sale. Scully's gross profit percentage is 30%. What effect will this budget revision have on Scully's pro forma statement of cash flows?
- A. Cash will increase by $36,000
- B. Cash will increase by $24,000
- C. Cash will decrease by $84,000
- D. Cash will decrease by $60,000
Answer: C
NEW QUESTION 45
A company has two service departments Security and Human Resources and two operating departments Assembly and Finishing Cost data for these departments are shown below
To determine the full costs of conducting Business m the operating departments the company allocates service department costs to the operating departments Security costs are allocated based on the number of employees and Human Resources costs are allocated based on the number of Human Resources hours used using the step-down method, what amount of Security costs would be allocated to the Assembly department?
- A. $20,000.
- B. $12,727.
- C. $13,333.
- D. $18,773.
Answer: D
NEW QUESTION 46
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