Answer:
FOR LIFE INSURANCE DENSITY
Answer:
The days' inventory outstanding was 107.35 days
Explanation:
The days' inventory outstanding indicates how many days on average a company turns its inventory into sales. Days' inventory outstanding is calculated by using the following formula:
Days' inventory outstanding = (Average inventory / Cost of goods sold) x 365 days
In there,
Average inventory = (Beginning Inventory for the year + Ending Inventory for the year)
/2
In Carey's Department Store,
Average inventory = ($4,000,000 + $6,000,000)/2 = $5,000,000
Days' inventory outstanding = ($5,000,000/$17,000,000)x365 = 107.35 days
The entry for the dividend declaration is as following:
Debit Cash Dividend $12,000
Credit Dividend Payable $12,000
To acquire the amount we must multiply the dividend per share which is 0.06 with a number of common shares issued which is 20,000. Capston, Inc have to entry this transaction as the dividend declares although the cash has not yet disbursed to comply with the accrual principle.
The treasury stock must be ignored because it is the portion of stocks which held by the company in its own treasury and the amount of authorized stock because it is not yet issued and the company doesn't have the obligation to pay that portion of stocks dividend<span>.</span>
Answer:
Net receipt on the check = $2,574
Explanation:
As the merchandise is sold on the basis on credit with therms as follows:
Discount of 1% if payment made within 10 days, and total credit period allowed = 30 days.
As for the given instance the the total sales was amounting to $3,400
Now, from this inventory worth $800 is returned.
Net sales = $3,400 - $800 = $2,600
Thereafter it is provided that payment is made within 10 days that is the discounted period, thus, net cash received against such sales shall be = Net sales - 1% discount of net sales
= $2,600 - ($2,600
1%)
= $2,600 - $26
= $2,574