From the above schedule of activity costs, determine the internal failure costs.

2. Compare the performance of East Coast Yachts to the industry as a whole. For each ratio, comment on why it might be viewed as

Sati [7]

Answer: hello your question has some missing data attached below is the missing data

answer :

i) The current ratio is higher than lower quartile and this signifies good liquidity position

The Quick ratio is higher than the lower quartile and also higher than the median but it is lower than the upper quartile and this signifies that the value of inventory is been deducted from the current assets. to show solvency position.

ii) Inventory Turnover Ratio is higher when compared to the industry ratios

Explanation:

<u>i) Based on each ratio </u>

The current ratio is higher than lower quartile and this signifies good liquidity position for east coast yachts but the value of the lower quartile been lower than the median and upper quartile represents a position of lower solvency

The Quick ratio is higher than the lower quartile and also higher than the median but it is lower than the upper quartile and this signifies that the value of inventory is been deducted from the current assets to show solvency position of the company.

<u>ii) The ratio can be interpreted as</u>

Inventory Turnover Ratio is higher when compared to the industry ratios i.e. Inventory is been turned into cash by maximum times/as many times as possible per year.

3 0

3 years ago

Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January, $35,000 in February, and $20,000 in Ma

Svet_ta [14]

Answer:

$30,000

Explanation:

Download xlsx

5 0

4 years ago

Read 2 more answers

Sam Hinds, a local dentist, is going to remodel the dental reception area and add two new workstations. He has contacted A-De

Inga [223]

Answer:

Sam will pay $937.43 weekly or $71.64 quarterly.

The weekly plan has less total cash outflow each year because it involves lower interest charges as the payment is made more frequently.

Sam will have to pay $117.18 if the loan calls for quarterly payments.

Explanation:

The cash outflows are calculated using the PMT formula or function as follows.

Quarterly Payment:

PMT(rate = 0.08/4, nper = 8x4, pv = 22000, fv = 0, 0) = $937.43

Weekly Payment:

PMT(rate = 0.08/52, nper = 8x52, pv = 22000, fv = 0, 0) = $71.64

Annual cash outflow using quarterly payment = $937.43 x 4 = $3749.72

Annual cash outflow using weekly payment = $71.64 x 52 = $3725.28

The weekly plan has $3749.72 - $3725.38 = $24.44 less total cash outflow each year because it involves lower interest charges as the payment is made more frequently.

Sam will have to pay $3749.72 / 32 = $117.18 if the loan calls for quarterly payments.

7 0

4 years ago

Brandon Ramirez wants to set up a scholarship at his alma mater. He is willing to invest $320,000 in an account earning 11 perce

sukhopar [10]

Answer:

$35,200

Explanation:

Given that

Invested amount = $320,000

Rate of interest = 11%

So by considering the above information, the amount of annual scholarship that can be given from this investment is

= Invested amount × Rate of interest

= $110,000 × 11%

= $35,200

By multiplying the invested amount with the rate of interest we can find out the annual scholarship amount

4 0

3 years ago

The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to

Ahat [919]

Question Completion:

Assume that Supplies were purchased during the year worth $13,000.

Record the adjusting entries.

Answer:

Adjusting Journal Entries on December 31, 2021:

Debit Interest Expense $4,000

Credit Interest payable $4,000

To record the accrued interest on the notes payable.

Debit Salaries Expense $3,000

Credit Salaries payable $3,000

To record the accrued salaries at year end.

Debit Supplies Expense $9,200

Credit Supplies $9,200

To record supplies expense for the year.

Explanation:

a) Data and Calculations:

Supplies purchased = $13,000

Supplies at year-end = 3,800

Supplies consumed = $9,200 ($13,000 - $3,800)

b) Adjusting entries are journal entries done at the end of a financial period to ensure that expenses and revenues are matched to the period they occur instead of when cash is exchanged. This accords with the accrual concept and the matching principle of accounting.

3 0

3 years ago