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rusak2 [61]
3 years ago
8

Recent financial statements of General Mills, Inc. report net sales of $12,442,000,000. Accounts receivable are $912,000,000 at

the beginning of the year and $953,000,000 at the end of the year. (a1) Compute General Mills' accounts receivable turnover.
Business
1 answer:
cluponka [151]3 years ago
3 0

Answer:

13.34

Explanation:

In this question, we are told to compute the account receivable turnover at the end of the year.

To calculate this , we proceed using a mathematical approach;

mathematically;

Accounts receivable turnover = Net Sale / (Average accounts receivable)

From the question, we can identify that the net sale is $12,442,000,000 while the average accounts receivable which is the average of the account receivable at the start of the year and that at the beginning of the year

= $ 12442000000 / (912000000 + 953000000)/2

= $ 12442000000 / 932500000

= 13.34

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Answer: False

In the short-run, inflation and unemployment are inversely related; as one quantity increases, the other decreases. In the long-run, there is no trade-off. In the 1960's, economists believed that the short-run Phillips curve was stable.

Explanation:

https://courses.lumenlearning.com/boundless-economics/chapter/the-relationship-between-inflation-and-unemployment/

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3 years ago
3) Compute the annual allowable depreciation using the straight line method for a machine that costs $86,000 to purchase and $7,
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Answer:

$14,333.33

Explanation:

Depreciation is the systematic allocation of the cost of an asset to P/l as a measure of use. It is added over the years as accumulated depreciation which is deducted from cost to get the net book value of the asset. Salvage value is the estimated realizable cost of an asset after its useful life.

Depreciation = (cost - salvage value)/useful life

Cost of an asset includes all cost incurred to make the asset available for use.

Depreciation = ($86000 + $7000 - $5000)/6

= $88000/6

= $14,333.33

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3 years ago
One important change that resulted from the movement to enterprise systems was the creation of​ stronger, faster, and more effec
nignag [31]

The answer to the space provided is hops. Therefore, when we complete the sentence, we will have ‘One important change that resulted from the movement to enterprise systems was the creation of stronger, faster, and more effective hops among value chains.’

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3 years ago
The Alford Group had 230,000 shares of common stock outstanding on January 1, 2021. The following activities affected common sha
jeka94

Answer:

a. $7 per share

b.  $2.29 per share

c. $3.5

Explanation:

a. The computation of 2021 earning per share is given below:-

EPS = Net income ÷ Weighted Average Outstanding shares of common stock

Weighted Average Outstanding shares of common stock for 2021

= (230,000 × 12 ÷ 12) - (27,000 × 10 ÷ 12) + (27,000 × 2 ÷ 12) + (108,000 × 1 ÷ 12)

= 230,000 - 22,500 + 4,500 + 9,000

= 221,000

EPS for 2021 = Net income ÷ Weighted Average Outstanding shares of common stock for 2021

= $1,547,000 ÷ 221,000

= $7 per share

b. The computation of 2022 earning per share is given below:-

Shares of common stock at the beginning of 2022 = 230,000 - 27,000 + 27,000 + 108,000

= 338,000

Weighted average outstanding shares for 2022 = 338,000 × Stock split

= 338,000 × 2

= $676,000

EPS for 2022 = Net income ÷ Weighted Average Outstanding shares of common stock for 2022

= $1,547,000 ÷ $676,000

= $2.29 per share

c. The computation of 2021 EPS be presented in the 2022 comparative financial statements is shown below:-

2021 EPS be presented in the 2022 comparative financial statements = Net income ÷ (Weighted Average Outstanding shares of common stock for 2016 × Stock split)

= $1,547,000 ÷ (221,000 × 2)

= $1,547,000 ÷ 442,000

= $3.5

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