Answer:
72 days
Explanation:
The computation of the accounts payable turnover ratio is shown below:
Accounts payable turnover ratio = Total Purchases ÷ Average Accounts payable
As we know that
Cost of goods sold = Beginning inventory + total purchases - Ending inventory
i.e
Total Purchases = Cost of goods sold + Ending Inventory – Beginning Inventory
= $550,000 + $101,000 - $120,000
= $531,000
So, the account payable turnover ratio is
= $531,000 ÷ $105,000
= 5.06 times
Now in days it is
= 365 days ÷ 5.06 times
= 72 days
Answer:
a. $8,200
Explanation:
The same accounting principles would be applied to non-profit entities while recording their assets as applied to other entities.
Non-profit entity would record its assets at fair value same as assets are recorded by other entities.
Answer:
Annual depreciation= $189,600
Explanation:
Giving the following information:
On January 1, 2017, anodel, Inc. acquired a machine for 1,010,000. the estimated useful life of the asset is five years. residual value at the end of five years is estimated to be 62000.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (1,010,000 - 62,000)/5= $189,600
I think it’s d. but im so sorry if im wrong!
I believe the answer would be Trade Routes, however take that with a grain of salt because it may be wrong.
