On a particular date, the above information concerning Office Depot, Incorporated, was given on Google Finance. Its competitor, Staples Incorporated,
had a stock price of $24.33. Which of the following is closest to the EPS of Staples Incorporated if it is estimated using valuation multiples based on price-earnings ratios?
A) $1.58
B) $1.84
C) $2.63
D) $14.15
Answer: C
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Mario Company's Accounts Receivable balance at December 31 was $300,000 and there was a credit balance of $1,400 in the Allowance for Doubtful Accounts, The year's sales were $1,800,000. Mario estimates credit losses for the year at 1.5% of sales. After the appropriate adjusting entry is made for credit losses, what is the net amount of accounts receivable included in the current assets at year-end?
What will be an ideal response?
After losing her watch, Jennifer had put up a reward offer in the local newspaper for anyone who could find and return her watch. However, after two weeks she decides to buy a new watch and not pay the reward anymore
Betty, who found the watch and saw the reward offer, returns the watch to Jennifer after 20 days. Which of the following would be true about Betty receiving or not receiving the reward? A) Betty will not receive the reward as Jennifer had already revoked it. B) Betty will not receive the reward as Jennifer had stopped publishing the reward offer. C) Betty cannot claim the reward because she had not performed all the requested acts. D) Betty can claim the reward because Jennifer had not published a notice of revocation.