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Korvikt [17]
3 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]3 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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Musashi lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $704,000 from selling piano
Gnoma [55]

Answer:

Explicit costs are actual costs which Yakov must make while implicit costs are opposite of explicit costs, Implicit costs are opportunity costs.

Grouping them, we have the following;

•The wages and utility bills that Yakov pays. => Explicit costs

•The salary Yakov could earn if he worked as a paralegal.=>Implicit Costs

•The wholesale cost for the pianos that Yakov pays the manufacturer. => Explicit costs

•The rental income Yakov could receive if he chose to rent out his showroom =>Implicit Costs

2) Yakov's accounting and economic profit of his piano business.

Profit($)

Acct Profit.......... Economic Profit

$14,000. .............. -$9,000 (loss)

•Yakov's accounting profit will be his revenue - explicit costs.

Therefore accounting profit=

$704,000 - ($404,000 - $286,000) = $14,000

• Yakov's economic profit will be (accounting profit - (rent + forgone salary)

Therefore, accounting profit =

$14,000 - ($3,000+$20,000) = -$9,000

4 0
3 years ago
​Vipsana's Gyros House sells gyros. The cost of ingredients​ (pita, meat,​ spices, etc.) to make a gyro is​ $2.00. Vipsana pays
andrezito [222]

Answer:

The average fixed cost is $2.4.

Explanation:

Vipsana's Gyros House sells gyros.

The cost of ingredients​ to make a gyro is​ $2.00.  

Vipsana pays her employees​ $60 per day.  

She also incurs a fixed cost of​ $120 per day.

The cost incurred on ingredients and workers is a variable cost.  

The total fixed is thus $120.  

The average fixed cost for 50 gyros

= \frac{TFC}{Q}

= \frac{120}{50}

= $2.4

5 0
3 years ago
What is the distinction between free trade and fair trade?
sergey [27]

Answer:

Free trade focuses on the reductions of barriers and policies of nations.

Fair trade seeks to bring favor to the right of the worker.

Explanation:

4 0
3 years ago
A vendor sets up a stall outside of a major video game exposition. He sells products (mostly t-shirts) representing various popu
Aneli [31]

Answer:

trademark

Explanation:

5 0
3 years ago
Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela
klasskru [66]

Solution :

We calculate the advances form the customer to be reported as the current liability as on Dec. 31, 2009 in the balance sheet as follows :

          <u>  Particulars  </u>                                                               <u>  Amount ($)</u>

Customer advances the balance Dec 31, 2008                           110

Add : advances that is  received with 2009 orders is                 195

Less : advances applicable to the orders in 2009                      -180

Less : advances from orders that are canceled in 2009          <u>  -45  </u>

Advances from the customers liability Dec. 31, 2009                  80

Therefore, the advance from the customer to be reported in the balance sheet as the current liability is $80.

6 0
2 years ago
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