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goldenfox [79]
3 years ago
8

AC Corporation has beginning inventory of $9,049, accounts payable of $7,212, and accounts receivable of $6,333. The end of year

values are $7,850 for inventory, $8,515 for accounts payable, and $7,029 for accounts receivable. Net sales are $91,200 and costs of goods sold are $63,008. How many days are in the accounts payable period? g
Business
1 answer:
labwork [276]3 years ago
3 0

Answer:

The AC Corporation takes 46 Days average to pay back its accounts payable.

Explanation:

Average Accounts Payable = $7863.5

Cost of Goods Sold = $63,008

Number of Days in Accounting Period = 365

Days Payable Outstanding = (Average Accounts Payable / Cost of Goods Sold) x Number of Days in Accounting Period

Days Payable Outstanding = ($7,863.5 / $63,008) x 365

Days Payable Outstanding = 45.55

Therefor, the company takes an average of 46 days to pay back its accounts payable.

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Use the drop-down menu to complete each statement. based on the information in the passage, it is most likely that joe lives in
Ann [662]

Based on the given information, Joe lives in the mixed economy, and he is interested in purchasing the private building.

<h3 /><h3>What is mixed economy?</h3>

A mixed economy is the system that combines the system of both the economy, means the combination of capitalism and socialism, is called the mixed economy.

This system defends <u>private property </u>and allows a degree of  freedom in economy in the use of capital.

But it also permits for governments to interpose in economic activities in order to accomplish social intents.

Therefore, in the above case, Joe lives in the mixed economy, and purchasing the private property.

To learn more about the mixed economy, refer to:

brainly.com/question/2343400

3 0
2 years ago
Big and Tall, CPAs, were auditing Mountain Corporation for the year ended December 31, 2019. On January 15, 2020, a major custom
AURORKA [14]

Answer:

The correct answer is Option B.

Explanation:

Based on IAS 10 Events after the Reporting Period, subsequent events can be an adjusting event or non-adjusting event. If it is an adjusting event, it means an event after the reporting date before the audited financial statements are signed that provides further evidence of conditions that existed at the reporting date. However, non-adjusting events are events after the reporting date that are indicative of a condition that arose after the reporting date, this requires disclosure in the financial statements while for adjusting events, the financial statements are adjusted for condition that arose after the reporting date.

The declaration of the customer as bankrupt is an adjusting event since it affects the receivable collection, hence the need to adjust it as uncollectible,

4 0
3 years ago
A case comes before a Wisconsin state trial court on the subject of free speech on the Internet. It is a case of first impressio
sp2606 [1]

Answer:

The correct answer would be option B, Judge's own personal feelings about the internet.

Explanation:

When a case comes to a court, it is the responsibility of a judge to see every aspect of the case and analyze it on the basis of given evidence or set rules or standards, or in the light of decisions made on the same case by other courts. But in this question, it is said that the case which was brought to the court was the first in its kind, it means no such type of case has been ever submitted in any court before. The freedom of speech on internet is a sensitive issue. So all aspects should be kept in mind while proceeding the case, and it would not be considered proper for the judge to bring his person feelings about the internet into the case. His personal feelings should be set aside and the case should be solved on the basis of evidences and solid views.

3 0
3 years ago
Dilts Company has a unit selling price of $630, variable costs per unit of $380, and fixed costs of $335,000. Compute the break-
Rudik [331]

Answer:

Q= TFC/(SP-VC)

Break Even Point in Units = 1116.67 ≅1117

Explanation:

Dilts Company

Sales price  $630,

Variable costs per unit  $380,

Contribution Margin 300

Fixed costs  $335,000

The Mathematical Equation

Q= No of units

Total Revenue= TR

Total Cost = TC

Total Fixed Costs= TFC

Variable Costs= VC

Sales Price = SP

Total Revenue= TR= Price Per unit * No Of units = SP * Q

Total Cost = TC = Total Fixed Costs + Variable Costs ( Number of Units)=

                    TC= TFC + VC*Q

Now according to break even the total revenue must equal the the total costs

TR= TC

SP*Q= TFC + VC*Q

On re arranging the above  equation

SP*Q- VC*Q= TFC

Q(SP-VC)= TFC

Q= TFC/(SP-VC)

Number of Units=Total Fixed Costs/Sales Price- Variable Costs

b) Break Even Point in units = Fixed Costs/ Contribution Margin per unit

Break Even Point in units = Fixed Costs/ (Sales- Variable cost)

Break Even Point in Units = $335,000/ 300= 1116.67 ≅1117

5 0
3 years ago
Your company manufacturers children's toys, and you want to keep the prices as low as possible for individual consumers. Which o
Soloha48 [4]
To keep prices low than you’re going to need to use cheaper materials. Also you’re going to need to have less staff. If you’re spending more money than you’re making than you’ll go out of business. Invest in advertising as well.
5 0
3 years ago
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