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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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At the end of the accounting period, a company's overhead was overapplied by $400. The Factory Overhead account was properly adj
wariber [46]

Answer:

The overapplied factory overhead results in more expense. The overapplied factory overhead results in increase in cost of good sold. Over-application means that actual overhead are less than reported expense. At the end of the accounting period the company will pass following accounting entry to adjust over application

Debit FOH account                400

Credit Cost of Good Sold       400

So after this adjustment the net income will increase by 400 dollars.

5 0
3 years ago
10. Uneven cash flows A series of cash flows may not always necessarily be an annuity. Cash flows can also be uneven and variabl
GaryK [48]

Answer:

$1,155,478

Explanation:

Present value is the sum of discounted cash flows

Present value can be found using a financial calculator

Cash flow in year 1 = $100,000

Cash flow in year 2 =  $20,000

Cash flow in year 3 = $480,000

Cash flow in year 4 = $450,000

Cash flow in year 5 = $550,000

I = 9%

Present value = $1,155,478

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

5 0
3 years ago
Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business?
Alborosie

Answer:

Equity of the business= $17,076.

Explanation:

Equity as used in business is used to refer to the difference between the worth of a business (its assets) and what the business owes (debts and liabilities).

In other words, total equity refers to the value which is left in the company after the total liabilities must have been subtracted from the total assets.

The formula to calculate total equity is given below:

Equity = Assets - Liabilities

Therefore to calculate the equity above, we have:

Equity = $64,342 - $47,266

Equity = $17,076.

4 0
2 years ago
Diz Co. is a U.S.-based MNC with net cash inflows of euros and net cash inflows of Swiss francs. These two currencies are highly
VikaD [51]

Answer:

Yanta Co. has a higher exposure to exchange rate risk than Diz Co.

The reason is that Yanta Co. does not have net inflows of euros.  Instead, its euro transactions yield net outflows.

It will always be in need of euros to settle its foreign debts or obligations, unlike Diz Co. with foreign assets.

Explanation:

a) Data and Analysis:

Diz Co. has net cash inflows of euros and net cash inflows of swiss francs

Yanta Co. has net cash outflows of euros and net cash inflows of swiss francs

b) Exposure to exchange rate risk or currency risk is the financial risk arising from fluctuations in the value of the US dollars against the Euro or Swiss Francs in which Diz Co. has some foreign assets while Yanta Co. has foreign obligations.

5 0
3 years ago
Gloria just started working for GlenMack. As part of her signing bonus, she received 20 shares of GlenMack stock. Gloria is exci
EastWind [94]

Answer:

Public Company

Explanation:

In the given case, since it is mentioned that Gloria working for GlenMack now as a part of the signing bonus she received twenty shares from the stock of GlenMack now she is excited to contribute to the company and also wants to track the shares value on the new york stock exchange so here the Glenmust must be public company as the stock are listed on the stock exchange

So the same is to be relevant

3 0
2 years ago
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