Answer:
11.40
32 days
Explanation:
Inventory turnover and days of sales of inventory are examples of activity ratios.
They are used to measure the efficiency of performing daily tasks
inventory turnover = Cost of goods sold/ average inventory
Average inventory = ($118,000 + $110,000) / 2 = $114,000
Inventory turnover = $1,300,000 / $114,000 = 11.40
days of sales of inventory = 365 / inventory turnover = 365 / 11.40 = 32 days
Answer:
$109,700
Explanation:
Pharoah Company Outstanding checks on bank reconciliation:
Formula for Outstanding checks on bank reconciliation will be:
Outstanding checks on bank reconciliation = Total checks outstanding+Checks issued during month -checks cleared during the month
Hence,
= $42,200+$263,900-$196,400
= $109,700
Therefore the amount of outstanding checks on Pharoah Company's bank reconciliation should be $109,700
Answer:
249$
Explanation
ANS-MINIMUM CASH WAGE PER HOUR=3.30
TIP CREDIT PER HOUR=4.95
TOTAL PAY=8.25 PER HOUR
FOR 52 HOURS =52*8.25=429$
TIPS INCUDED IN ABOVE=180$
THEREFORE THE PAY WOULD BE=429-180=249$
Answer:
As of December 2019, the total amount of currency in the US economy was $1,700 billion, while total checkable deposits as of December 2019 was $2,300 billion.
Explanation:
Total M1 money supply in the US economy as of December 2019 was $4 trillion (as stated by the federal reserve)
M1 money supply includes checkable deposits, paper bills and coins (currency) and travelers' checks.
Answer:
The statement is: True.
Explanation:
The Annual Rate of Return or Yearly Rate of Return is the amount earned over an investment within one year. It is typically represented as a percentage and takes into consideration capital appreciation and the payment of dividends. The formula to calculate the annual rate of return is the following:
Annual Rate of Return = (EYP - BYP)/BYP X 100%
Where:
EYP = End of year price
BYP = Beginning of year price
