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Korvikt [17]
4 years ago
13

Below is selected financial information for Panettone, Inc. Balance Sheet ($ in Millions) Income Statement ($ in Millions) Asset

s Liabilities and Equity Sales 4100 Current Assets Current Liabilities Cost of Goods Sold 2743 Cash 200 Accounts Payable 300 Administrative Expenses 557 Accounts Receivable 600 Notes Payable 500 Depreciation 251 Inventory 600 Total Current Liabilities 800 Earnings Before Interest and Taxes 549 Total Current Assets 1400 Long-Term Liabilities Interest Expense 20 Long-Term Debt 100 Taxable Income 529 Fixed Assets Total Long-Term Liabilities 100 Taxes 52 Property, Plant and Equip. 2100 Net Income 477 Less Acc. Depreciation 1300 Owners' Equity Dividends 328 Net Fixed Assets 800 Common Stock ($1 Par) 100 Addition to Retained Earnings 149 Capital Surplus 200 Retained Earnings 1000 Other Information Total Owners' Equity 1300 No. of Shares Outstanding (Millions) 100 Total Assets 2200 Total Liab. and Equity 2200 Price per Share 20 What is the company's Days sales in Inventory?
Business
1 answer:
Anastasy [175]4 years ago
6 0

Answer:

11.63%

Explanation:

The company's Days sales in inventory is the return on sales

Return on sales = Net income / Sales

Return on sales = 477 / 4100

Return on sales = 0.11634

Return on sales = 11.63%

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Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe
Inga [223]

Answer:

Andrew did do a proper feasibility study about the land

Explanation: Andrew lots chunk of money  because he gave out his land half of the price he bought it initially. And bought another at a higher price

which is more than the  10,000 dollars

7 0
3 years ago
Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ
Deffense [45]

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

8 0
3 years ago
During the current year, Cary and Bill incurred acquisition debt on their residence of $1,300,000 and a home equity loan of $200
77julia77 [94]

Answer:

qualified acquisition debt = $750,000

qualified home equity debt = $0

Explanation:

Qualified acquisition debt refers to the debt incurred to purchase or build your home. In this case, Cary and Bill are allowed to itemize the interests paid for up to $750,000 of the acquisition debt ($375,000 if filing separately). This limit was reduced due to the TCJA of 2017, and will remain in place until 2025. After 2025, the limit will return to the normal $1,000,000.

Certain amount of interests on qualified home equity loans will also return in 2025, but currently they are not deductible.  

8 0
3 years ago
Which of the following is a false completion of the following: "Congress has the authority to declare war..."
Yakvenalex [24]

Answer: E. and exercise this authority with great frequency

Explanation:

The Congress has the authority to declare war but has not been exercising this authority with great frequency most times they are reluctant to declare war and has only declared eleven wars in the history of America.

They have rarely exercise this power one of the reasons being to cut down funding of war, they preferred to authorize presidential military action without a declaration of war.

8 0
3 years ago
Which type of research is not for commercial potential
Reptile [31]

Explanation:

Basic research

This research is conducted largely for the enhancement of knowledge and is research which does not have immediate commercial potential.

8 0
3 years ago
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