Robertson Corporation acquired two inventory items at a lump…

Robertson Corporation acquired two inventory items at a lump-sum cost of $96,000. The acquisition included 3,000 units of product CF and 7,000 units of product 3B. CF normally sells for $27 per unit and 3B for $9 per unit. If Robertson sells 1,000 units of CF, what amount of gross profit should it recognize under the relative sales value approach?

15. The following trial balance of Bulldog Company at Decemb…

15. The following trial balance of Bulldog Company at December 31, 2020 has been properly adjusted except for the income tax expense adjustment: Bulldog CompanyTrial BalanceDecember 31, 2020 DR CR Cash 876,000 Accounts receivable (net) 2,704,000 Inventory 2,090,000 Property, plant, and equipment (net) 7,565,000 Accounts payable and accrued liabilities 1,768,000 Income taxes payable 660,000 Deferred income tax liability 85,000 Common Stock 2,341,000 Additional paid-in capital 3,683,000 Retained earnings, 1/1/20 3,492,000 Net sales and other revenues 12,873,000 Costs and expenses 11,150,000 Income tax expenses 517,000 Total 24,902,000 24,902,000 Included in accounts receivable is $1,180,000 due from a customer and payable in quarterly installments of $147,500. The last payment is due December 31, 2022 (i.e., two years from today).             In Bulldog’s December 31, 2020 balance sheet, the current assets total is: