For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000.

a) The inventory turnover ratio for the year was?
b) The accounts receivable turnover ratio for the year was?
c) On average how many days of sales were in Accounts Receivable during the year?
d) On average how many days of sales were in Inventory during the year?

Answers

Answer 1

Answer:

A. 5 times per year

B. 10

C. 36.5 days

D. 73 days

Explanation:

A. Calculation for what The inventory turnover ratio for the year was

Inventory turnover ratio =$525,000/($100,000+$110,000/2)

inventory turnover ratio =5 times per year

B. Calculation for what The accounts receivable turnover ratio for the year was

Accounts receivable turnover ratio=$830,000/($80,000+$86,000/2)

accounts receivable turnover ratio=10

C. Calculation for On average how many days of sales were in Accounts Receivable during the year

Days sales in Account Receivable=($80,000+$86,000/2)/($830,000/365)

Days sales in Account Receivable=36.5 days

D. Calculation for On average how many days of sales were in Inventory during the year

Days of Sales in Inventory=($100,000+$110,000/2)/($525,000/365)

Days of Sales in Inventory=73 days


Related Questions

what is the solutions of emotional differences?​

Answers

Explanation:

In the work environment there are people with different personality profiles, so some routine work-related situations can end up generating some emotional barriers in organizations, such as communication difficulties, personal conflicts, stress, anger, anguish, etc.

Therefore, some solutions can be useful to reduce the impact of emotional barriers, such as not discussing with other co-workers and seeking an assertive and ethical communication that does not disrespect the individual values ​​of each one. For managers, it is necessary to seek the development of communication skills, providing feedback so that there are no misunderstandings that can lead to conflicts.

Mustafa a friend of yours, plans to open a fashion boutique that will sell women’s clothing and accessories. He told you that he leafed through several books on how to prepare forecasts and pro forma financial statements but that the books were geared toward existing firms that have several years of historical financial statements on which to base their projections. If Mustafa asked for your advice about how to prepare financial statements along with pro forma and forecasts for a completely new women’s fashion boutique, what would you tell him?

Answers

Answer: Financial Forecast

Explanation:

Forecast is a prediction of events that would happen in the future based on evidence of what's seen now or an assumption on projections.

While financial forecast is predicting how well a business will perform in the future through estimating future financial outcomes.

I would advise Mustafa to seek experts ideas on financial forecast for a new business and that would help him project his expectations

Question 8 of 10
Which of the following is an example of comparative advertising?
A. A toothpaste maker claims that its product prevents more cavities
than other brands.
B. A local restaurant chain runs ads for their weekly lunchtime
specials
C. Advertisements for cigarettes carry a warning that smoking may
cause health problems.
D. A snack foods maker labels its products "100% organic," even
though the snacks are not made from any organic ingredients.

Answers

Option A
A toothpaste maker claims that it’s product prevents more cavities that other brands.

Answer:

A. A toothpaste maker claims that its product prevents more cavities

than other brands.

- Just took the quiz !!

Mr. Khalis has been employed as an account manager at Kyasara Sdn Bhd since 2 January 2012. On 1 October 2020, Kyasara Sdn Bhd decided to merge with another company named Maxell Sdn Bhd. As a consequence from that merger, the top management of Kyasara Sdn Bhd had terminated many employees including Mr. Khalis who was terminated on 30 November 2020. The company paid him a gratuity of RM280,000 in appreciation of his service. In addition, Mr. Khalis received RM110,000 as compensation for loss of employment and he withdrew RM140,000 from an unapproved fund whereby 60% of the fund was contributed by Kyasara Sdn Bhd. His remuneration and benefits received until 30 November 2020 are as follows:
1. Monthly salary of RM8,010 (after deducting employee’s EPF contribution of 11%).
2. BonuspaidinJune2020amountedtoRM10,000.
3. A monthly entertainment allowance of RM1,800, but he only spent 80% to
entertain company’s clients.
4. A monthly petrol allowance for official duties of RM480 and parking fees
allowance of RM300.
5. TraditionalmedicaltreatmentatanapprovedhospitalcostingRM650waspaid
by the company.
6. Mr. Khalis was awarded the performance incentive of RM2,500 for the year of
assessment 2018, which was paid on 31 October 2020. This incentive was
given due to his excellent service performance for the year of assessment 2018.
7. A new car costing RM250,000 with a driver were provided by the company
throughout his service.
8. A fully furnished condominium with a rental value of RM2,500 per month
(including furniture of RM800 per month) was provided until 30 November 2020.
9. A reimbursement of RM600 per month was made to pay for the salary of a
servant employed by Mr. Khalis.
10.The company paid for Mr. Khalis’s annual corporate membership fees of
RM2,500 to Kota Kemuning Golf Centre.
11.In January 2020, the company paid RM18,000 for his family’s vacation to Las
Vegas. The expenses inclusive of air tickets, accommodations and meals which were RM8,000, RM6,000 and RM4,000 respectively.

Required:
Compute the statutory employment income of Mr. Khalis for the year of assessment

Answers

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When a product is a ______, the more ______ its demand.

Answers

Answer:

oil

Explanation:

what's the context, what are the possible options for input?

The way you have the question now is super vague and unanswerable

Which of the following are
examples of natural resources? (Check all that apply)
Gold
Fish
Factories
Money

Answers

Answer:

fish, gold

Explanation:

I just know trust me

A newly employed engineer decides to place 5 % of her salary every year into a retirement account. Her first year salary is $45.000, and it is anticipated that her real salary (after removing the effect of inflation) will increase 3% per year. What will be in the account at the end of year 30 if annual interest earned on the account is

Answers

Answer:

FV= $254,887.23

Explanation:

We will include the growth in the salary in the interest rate.

I assume an interest rate of 5%

Interest rate (i)= 0.05 + 0.03= 0.08

Number of periods (n)= 30 years

Annual deposit (A)= $45,000*0.05= $2,250

To calculate the future value (FV), we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {2,250*[(1.08^30) - 1]} / 0.08

FV= $254,887.23

My father told me "Do your homework" change this sentence to indirect speech(reported speech).​

Answers

Answer:

get your homework done

Explanation:

hope that will help

Draw an indifference curve for an individual

showing that

a. good X and good Y are perfect complements.

b. item X becomes a bad after 4 units.

c. item Y becomes a bad after 3 units.

d. MRS is increasing for both X and Y​

Answers

Answer:

Air jordan shoe rack and pinion to be there at noon

What two characteristics must an item possess to have monetary value?
A. scarcity and capital
C. transferability and utility
B. capital and transferability
D. utility and scarcity​

Answers

The answer is D :) ......

The two characteristics that must be possessed is transferability and utility.

We can describe "monetary value" as the property of having a material worth and this allows the transfer-ability of an assets.

The amount that is paid in cash for an asset is referred to the monetary value of such asset.

Money is one of the measure through which the monetary value on an assets is being exchange for the asset.

In conclusion, a monetary value must be transferable to other person and must be able to be used to carry out transaction at any time..

Learn more about Monetary value here

brainly.com/question/13164540

The fact that Black Diamond has employees working in the organization from all around the world demonstrates:

Ethnocentrism
Stereotypes
Cultural competence
Like me bias

Answers

Answer:

The answer is Cultural competence

The fact in which the black diamond has the employees working in the company represents cultural competence.

The information related to cultural competence is as follows:

It is the capability for understanding, communicating, and interacting with people from different kinds of cultures. Also, it is should be presented in the black diamond.

Thus all other options are wrong.

Therefore we can conclude that The fact in which the black diamond has the employees working in the company represents cultural competence.

Learn more about the culture here: brainly.com/question/13599991

Evaluate an open economy from the spending approach in order to get the three sectorial balances, private, external, and public.

Answers

Answer:

GDP for an open economy from the spending approach follows this equation:

GDP = Consumption + Investment + Government Spending + Net Exports (Exports - Imports)

It can also be written as:

GDP = C + I + G + NX (X - N)

The balance of private consumption is simply equal to C, the balance of public spending is G, and the balance of the external sector is net exports or NX.

You want to be able to withdraw $800 from a savings account at the end of year 1, $900 at the end of year 2, $1,000 at the end of year 3, and so on over a total of 5 years. How much money must be on deposit right now, at the end of year 0, to just deplete the account after the 5 withdrawals if interest is 5% compounded annually

Answers

That answer is $1300

Identify the correct pattern of a compound-complex sentence

Answers

Answer:

A complex sentence combines a dependent clause with an independent clause. When the dependent clause is placed before the independent clause, the two clauses are divided by a comma; otherwise, no punctuation is necessary.

Explanation:

:)

What are some reasons why people would budget their money?

Answers

Explanation:

Budgeting helps you achieve goals. A good budget keeps you honest. Budgeting helps improve habits. Budgeting helps you avoid debt and improve credit.

People budget their money to help gain control of their finances, prepare for emergencies, etc

blank be chartered by an appropriate governmental body to exist.

Answers

Answer:

A charter is a legal document that formally establishes a corporate entity. Charters are issued by national or provincial governments.

Explanation:

The incorporator oversees setting up the company, prepares and files the charter, and supervises the creation of other corporate documents.  The business may also propose an amended charter if the number of directors changes, the board members themselves change, or the corporation moves its primary location.

A company had the following purchases and sales during its first year of operations: Purchases Sales January: 10 units at $120 6 units February: 20 units at $125 5 units May: 15 units at $130 9 units September: 12 units at $135 8 units November: 10 units at $140 13 units On December 31, there were 26 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory

Answers

Answer:

$3540.

Explanation:

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

Ending inventory comprises of goods bought in May, September and November

cost of the ending inventory :

(4 x $130) + (12 x $135) + (10 x$140) = $3540

Scott wanted to start a lawn cutting service but needed to purchase a lawnmower. Sherif gave Scott $30 in exchange for company revenue. What does Sherif now have in Scott’s company?

A.
rebate

B.
investment

C.
stock

D.
bond

Answers

B an investment the sherif invested

Answer:

The correct answer is C. Stock

Explanation:

I got it correct on Plato!

What is a product market AND how do I choose a product market . Pls help quick!!!!

Answers

Answer:

Product markets typically contain groups of consumers that share a fairly specific need that only certain and closely related kinds of products or services can meet. In the case of smartphone users, for example, only phones with specific and more or less comparable capabilities can serve the needs of these consumers. In a product market, the capacity to serve the market is often predicated on the method. Only a company that produces smartphones can compete for this market, let alone hold an intrinsic advantage, because only that product suffices.

Stockton Company Adjusted Trial Balance December 31 Cash 6,102 Accounts Receivable 2,938 Prepaid Expenses 703 Equipment 15,970 Accumulated Depreciation 6,337 Accounts Payable 1,719 Notes Payable 4,543 Common Stock 1,000 Retained Earnings 10,872 Dividends 916 Fees Earned 6,176 Wages Expense 2,514 Rent Expense 761 Utilities Expense 459 Depreciation Expense 233 Miscellaneous Expense 51 Totals 30,647 30,647 Determine the retained earnings ending balance.

Answers

Answer:

Stockton Company

The retained earnings ending balance is:

= $12,114.

Explanation:

a) Data and Calculations:

Stockton Company

Adjusted Trial Balance December 31

Cash                                6,102

Accounts Receivable    2,938

Prepaid Expenses            703

Equipment                   15,970

Accumulated Depreciation      6,337

Accounts Payable                      1,719

Notes Payable                          4,543

Common Stock                        1,000

Retained Earnings                  10,872

Dividends                      916

Fees Earned                            6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51

Totals                      30,647 30,647

Income Statement for the year:

Fees Earned                          $6,176

Wages Expense        2,514

Rent Expense               761

Utilities Expense          459

Depreciation Expense 233

Miscellaneous Expense 51     4,018

Net Income                           $2,158

Statement of Retained Earnings for the year:

Net Income                           $2,158

Retained Earnings                10,872

Dividends                                 (916)

Retained Earnings, ending $12,114

In your own understanding what is credit collection policy?

Answers

Answer:

A credit collections policy is a document that includes “clear, written guidelines that set the terms and conditions for supplying goods on credit, customer qualification criteria, procedure for making collections, and steps to be taken in case of customer delinquency”.

Answer:

a document that includes “clear, written guidelines that set the terms and conditions for supplying goods on credit

Explanation:

When planning for the future you should keep in mind that
O a
as your level of education increases, your income potentially decreases
Ob
as your level of education decreases, your income potentially increases
Ос
as your level of education decreases, your income potential remains the same
Od
as your level of education increases, your income potentially also increases

Answers

Answer:

As your level of education increases,your income potentially also increases

Numerical Measurements Practice problems: 1. Four years ago, Ken purchased 200 shares of Walmart (WMT) for $30 each share Now, four years later, he decided to sell all those shares for $32.50 per share. He also received total dividends of $1,80 per share over the four-year period. a. What is the total amount of dividends Ken received for 4 years? b. What was the total return for the investment?

Answers

Answer:

a) total dividends received over the four year period = $1.80 per share x 200 shares = $360

b) total return on investment = (total selling price + total dividends earned - initial investment) / initial investment = ($6,500 + $360 - $6,000) / $6,000 = 14.33%

in $, Ken's total return = $6,500 + $360 - $6,000 = $860

The World Trade Organization eliminates tariffs on agricultural goods.
True
False

Answers

Answer:

True

Explanation:

An importing business is involved in international business when it buys goods from other countries and sells them in its own country.

Economists Measure the personal satisfaction someone gets from consuming goods and services with a concept of what

Answers

This is called Marginal utility.

A social media ad costs $2 per person reached and 60% purchase. A traditional media ad costs $0.10 per person
reached and 2% purchase. Which is more effective?

Answers

Answer: it’s social media

Explanation:

Social media would be more effective than the traditional media as social media promotes the product and services very quickly. Unlike traditional media, the results from the social media are often in real-time.

What are the differences between the social and traditional media?

Social media refer to the applications and websites that allow the users to create and share the content online and participate in social networking. Social media marketing allows for more fluid and personalized messaging.

Traditional media refers to the form of mass communication that was available before the development of digital media. Traditional media generally includes newspapers, radio, magazines, and television.

Basically, social media has number of benefits that indicate how social media is more effective than traditional media. It generally include the ability to communicate with your consumers in a two-way format.

Learn more about  social and traditional media here:-

https://brainly.com/question/14258620

#SPJ6

Conduct Internet research and find whether your state levies inheritance tax. and how is it different from the federal inheritance tax.

Answers

Answer:

My state is Wisconsin, and Wisconsin does not levy a state inheritance tax, nor a estate tax, being one of the 34 states that do not levy any of these two taxes.

This is in contrast with the federal leve, because there is a federal inheritance tax, although with a quite high exemption of around 11 million for individuals, and of 22 million for married couples.

Answer:Inheritance tax is a tax that a person has to pay on money or property inherited after the death of a family member, loved one, and so on. This tax is sometimes referred to as a death tax. It is fundamentally a state tax.

In the federal inheritance or estate tax, the tax value depends on the fair market value of the inheritance. The amount is then levied on the representative of the estate. The taxable amount comes from the value of the estate. Then, the balance goes to the beneficiary of the estate.

As per the state inheritance tax, the beneficiary of the estate must pay the taxable amount. For example, if five family members inherit a property from a deceased relative, each member will individually pay tax on their share of the inheritance

Only eight states have inheritance taxes, these include Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania, and Tennessee. My state, the state of Texas, does not levy an inheritance tax. Even for states that do levy such taxes, many beneficiaries are exempt from the tax under various circumstances.

Explanation: plutos example after answering question so change it up a little dont use word for word.

documentation is necessary to establish educational accommodations. true or false​

Answers

Answer:

True

Explanation:

The correct option to the statement will be true.

When accessibility is being used when talking about disabilities, it means the support that are given to the disabled students in order for them to have the same opportunities that the non-disabled students have.

Documentation simply means the evidence or the official information which helps serve as a record.

In order to establish educational accomodations, it should be noted that documentation is very important. When there is documentation in place, the students can be given an extension that will enable them do their assignments. They can also be given notes and there can be a reduction in the number of test questions that they're given.

In conclusion, the correct option is True.

Read related link on:

https://brainly.com/question/13069161

Which of the following best describes the sequences of events that lead to a price increase and quantity
decrease when supply decreases?

Answers

Answer:

you gave no options but according to me

Explanation:

When the demand for a product increases, businesses increase the price while decreasing the supply/quantity.

Please help meeeeeee
What types of home products are manufactured in your locality? Write with examples..

Answers

Answer:

•product adjustment/modification

•product positioning and repositioning

•product line extensions

•product line breadth

•product line depth

•product line in services

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