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kow [346]
3 years ago
14

Heritage, inc., had a cost of goods sold of $45,821. At the end of the year, the accounts payable balance was $8,773. How long o

n average did it take the company to pay off its suppliers during the year? (use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places,
e.G., 32.16.)
Business
1 answer:
Aliun [14]3 years ago
3 0

<u>Calculation of Days Payable Outstanding:</u>

Days Payable Outstanding can be calculated using the following formula:

Days Payable Outstanding = (Accounts

Payable *365) / Cost of Goods Sold

= (8,773*365)/45,821

= 69.88

Hence, Days Payable Outstanding is 69.88 days. We can say that it takes on average<u> 69.88 </u>days to the company to pay off its suppliers during the year.





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On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $1
UkoKoshka [18]

Answer:

a. Depreciation expense per hour:

= (Cost - salvage value) / Expected operating hours

= (228,000 - 16,000) / 26,500

= $8 per hour

b. First year depreciation:                                      Second year depreciation:

= 1,250 * 8                                                                  = 2,755 * 8

= $10,000                                                                   = $22,040

Third year depreciation:

= 1,225 * 8

= $9,800

Journal entries

Date                    Account Title                                    Debit                 Credit

June 30, Year 1 Depreciation                                     $10,000

                          Accumulated Depreciation                                       $10,000

Date                       Account Title                                   Debit                 Credit

June 30, Year 2     Depreciation                                 $22,040

                              Accumulated Depreciation                                  $22,040

Date                       Account Title                                   Debit                 Credit

June 30, Year 3     Depreciation                                 $9,800

                              Accumulated Depreciation                                  $9,800

4 0
3 years ago
The accounts of Melissa Manufacturing showed the following balances at the beginning of​ December: Account Debit Raw Materials I
Rudik [331]

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the​ Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

4 0
3 years ago
Management at Work While reading the newspaper one day, you come across an article discussing the diversity strategy presented b
Leno4ka [110]

1. Kellogg's is likely to experience Reduced turnover when compared with other companies that do not promote diversity

2. He likely to report about his shares of stock, Since the implementation of the diversity strategy, my shares have increased in value.

Explanation:

Benefits of good diversity management are -

  1. Harmonious working conditions
  2. Better involvement of employees
  3. Improved performance of employees
  4. Improved manufacturing processes
  5. Enhanced product quality
  6. Retained sales (i.e. higher level of employee retention)

Good management of diversity means greater profit and a better brand image.

Turnover is the replacement of an employee with a new hire throughout the realm of human resources. Turnover means a proportion of the employees who leave the company for a certain period of time.

6 0
3 years ago
which would be considered liabilities? check all that apply.motorcycle loanown a housecar loancredit card billmortgage
Alex777 [14]

Credit cards would be considered liabilities.

4 major types of credit cards are Visa, MasterCard, American explicit and discover. Those are the main credit card networks, which most credit playing cards belong to, and they dictate where cards can be used in addition to what secondary benefits cards offer.

It's generally recommended that you have  to a few credit card accounts at a time, in addition to different styles of credit scores.

Keep in mind that your general available credit and your debt-to-credit ratio can impact your credit scores. if you have greater than 3 credit score playing cards, it is able to be hard to maintain song of monthly bills.

Learn more about credit card here: brainly.com/question/6872962

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5 0
1 year ago
A business owner makes 1000 items a day. Each day she spends 8 hours producing those items. If hired, elsewhere she could have e
AveGali [126]

Answer:

c. ​$240,000

Explanation:

Her economic profit is given by her revenue deducted by the explicit costs (I=$150,000) and implicit costs (opportunity cost).

Her monthly revenue is:

R=1,000\ (items/day)*30\ days*\$15/item\\R = \$450,000

Her opportunity cost is:

O = 30\ days* 8\ (hours/day)*\$250/hour\\O=\$60,000

Her economic profit is:

P = R-I-O\\P=\$450,000-\$150,000-\$60,000\\P=\$240,000

The answer is c. ​$240,000.

5 0
3 years ago
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