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nirvana33 [79]
3 years ago
12

Polk Software Inc. has a quick ratio of 2.00x, $32,850 in cash, $18,250 in accounts receivable, some inventory, total current as

sets of $73,000, and total current liabilities of $25,550. The company reported annual sales of $100,000 in the most recent annual report.
Business
1 answer:
Rasek [7]3 years ago
7 0

Answer:

4.57x

Explanation:

<u>Completion of the question</u>

Over the past year, how often did Polk Software Inc, sell and replace its inventory?

First, we need to calculate Polk Software's Inventory rom its Total Current Asset

= Total Current Asset s= $73,000

Cash- $32,850

Accounts Receivable= $18,250

Total Current Assets= Cash + Accounts Receivable + Inventory

= $73,000= $32,850 + $18,250 + Inventory

Inventory = $73,000-$32,850-$18,250

Inventory= $21,900

Secondly, calculate inventory turnover

Inventory turnover= Annual Sales / Inventory

= $100,000/$21,900

= 4.57x

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positively.

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5 0
3 years ago
In an effort to save money for early retirement, an environmental engineering colleague plans to deposit $1,700 per month, start
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$268,696.93

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Where an equal amount of money is saved periodically to earn interest at a particular rate of interest to accumulate a target amount in the future , it is called a sinking fund. The purpose could be for retirement, loan repayment or asset acquisition

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<em>so we can apply  this to our question</em>

a = 1700, r - 8%= 0.08, m=4, n- 18

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The account will have $268,696.93 at he end of he 18 years

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