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2 years ago

What would be a best practice when managing the merchandise at a store?

Business

1 answer:

lina2011 [118]2 years ago

5 0

Explanation:

make sure that all products are bought from the same vendor

make sure that products displayed (sold) near each other are of similar categories

make sure that the merchandise is only available to a few elite sections of society

make sure that the products are kept clustered together at the center of the store

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Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas

aksik [14]

Answer:

1, Nike = 18,590 / [(2,614 + 2,746) / 2] = 7 days

Adidas = 9,784.8 / [(1,580+1400)/2] = 6.57 days

2. Nike = 365 / 6.94 days = 52 days

Adidas = 365 / 6.57 days = 55 days

Explanation:

A. Accounts receivable turnover for both companies.

1. To calculate the accounts receivable turnover, start by adding the beginning and ending accounts receivable and divide it by 2

2. to calculate the average accounts receivable for the period. Take the figure in 1 above and divide it into the net credit sales for the year for the average accounts receivable turnover.

Credit sales / [(opening receivables + closing receivables) / 2]

Nike = 18,590 / [(2,614 + 2,746) / 2] = 7 days

Adidas = 9,784.8 / [(1,580+1400)/2] = 6.57 days

2. Average collection Period = 365 / Average receivables Turnover ratio

Nike = 365 / 6.94 days = 52 days

Adidas = 365 / 6.57 days = 55 days

5 0

3 years ago

What is the definition of an entrepreneur

Sati [7]

That done the definition of you and your best friend my niece you and your best friend

5 0

3 years ago

Read 2 more answers

Entries for Issuing Par StockOn October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par co

user100 [1]

Answer:

<h2>Legacy Rocks Inc.</h2>

a) Journal Entries:

October 31:

Debit Cash Account $7,200,000

Credit Common Stock $4,000,000

Credit Additional Paid-in Capital- Common Stock $3,200,000

To record the issue of 400,000 shares of $10 par common stock at $18.

November 19:

Debit Cash Account $4,000,000

Credit Preferred Stock $3,750,000

Credit Additional Paid-in Capital - Preferred Stock $250,000

To record the issue of 50,000 shares of preferred stock, $75 par at $80.

b) Stockholders' Equity Section of the balance sheet as of June 30:

Authorized Share Capital

Issued Share Capital-Common Stock 400,000

shares at $10 par $4,000,000

Additional Paid-in Capital- Common Stock 3,200,000

Treasury Stock (90,000)

Issued Share Capital - Preferred Stock 50,000

shares at $75 par 3,750,000

Additional Paid-in Capital - Preferred Stock 250,000

Explanation:

Journal entries are used to debit and credit accounts for each transaction that occurs on a daily basis. They are the initial entries made in the books of account. From the journal entries, the accounts are posted to the general ledger where they are summarized for the period.

4 0

3 years ago

If merchandise inventory is being valued at cost and the price level is steadily rising, the method of costing that will yield t

Anastaziya [24]

Answer:

FIFO

Explanation:

FIFO inventory system means the first purchased inventory are the first to be sold.

The LIFO inventory system means the last purchased inventory are the first to be sold.

The average cost inventory system means that the average cost of inventories are used as the cost of the goods sold.

For example, if a business has a beginning inventory of 5 biros at $2 each. On the first of December, the business purchased 10 pens at $2.50. On the 10th, 5 pens were purchased at $3. 15 pens are sold at $5 each. If the FIFO inventory system is used, the cost of goods sold would be = (5×$2)+(10×$2.50) = $35

Total revenue = $75

Net profit = $40.

If the LIFO inventory system is used, the cost of goods sold =(10 × $2.50) + (5×$3) = $40

Net profit = $35

The net profit is higher using the FIFO method.

I hope my answer helps you

3 0

3 years ago

Share Issuances for Cash Finlay. Inc., issued 8.000 shares of $50 par value preferred stock :u $68 per ~hare and 12.000 shares o

Basile [38]

Answer:

See the attached excel file for all the the financial statement effect.

Explanation:

Note: This question is not complete and it has some errors. The errors are therefore fixed and the complete question presented before answering the question as follows:

Share Issuances for Cash: Finlay. Inc., issued 8,000 shares of $50 par value preferred stock at $68 per share and 12,000 shares of no-par value common stock at $10 per share. The common stock has no stated value. All issuances were for cash.

a. Determine the financial statement effect of the share issuances (preferred and common).

b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share.

c. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $1 per share.

The explanation of the answer is now given as follows:

a. Determine the financial statement effect of the share issuances (preferred and common).

Note: See the attached excel file for the the financial statement effect of the share issuances (preferred and common).

In the attached excel file, the following workings are used:

w.1: Preferred stock = Number of preferred shares issued * Preferred share par value = 8,000 * $50 = $400,000

w.2: Paid-In Capital in Excess of Par - Preferred stock = (Number of preferred shares issued * (Preferred share price per share - Preferred share par value) = 8,000 * ($68 - $50) = $144,000

w.3: Common stock = Number of common shares issued * Common stock share price per share = 12,000 * $10 = $120,000

b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share.

Note: See the attached excel file for the financial statement effect of the issuance of the common stock .

In the attached excel file, the following workings are used:

w.4: Common stock = Number of common shares issued * Common share par value = 12,000 * $5 = $60,000

w.5: Paid-In Capital in Excess of Par - Common stock = (Number of common shares issued * (Common share price per share - Common share par value) = 12,000 * ($10 - $5) = $60,000

c. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $1 per share.

Note: See the attached excel file for the financial statement effect of the issuance of the common stock .

In the attached excel file, the following workings are used:

w.6: Common stock = Number of common shares issued * Common share par value = 12,000 * $1 = $12,000

w.9: Paid-In Capital in Excess of Par - Common stock = (Number of common shares issued * (Common share price per share - Common share par value) = 12,000 * ($10 - $1) = $108,000

Download xlsx

6 0

3 years ago