Answer:
2.08 times
Explanation:
The computation of the inventory turnover ratio is shown below:
Inventory turnover ratio would be
= Cost of goods sold ÷ average inventory
where,
Cost of goods sold = Sales × cost of goods sold percentage
= $792,590 × 77%
= $610,294.30
As we know that
Cost of goods sold = Sales - gross profit
= 100 - 0.23
= 0.77
We assume the sales to be 100
So, the ratio would be
= $610,294.30 ÷ $293,110
= 2.08 times
Answer:
New technology allows firms to produce at a lower cost. As a result, as firms adopt a new technology, their cost curves shift downward. Market supply increases, and the market supply curve shifts rightward. With a given demand, the quantity produced increases and the price falls.
Answer:
B
Explanation:
The ending cash balance is listed on the Statement of Cash Flows and Cash listed on the Balance Sheet is the balance as of the end of the year.
The balance sheet and Statement of Cash Flows are financial statements that companies issue to report their financial performance
The Statement of Cash Flowst shows the amount of cash and cash equivalents coming in and going out in the company.
The balance sheet lists the assets, liabilities, and equity of a company at a specific moment in time and proves the accounting equation
Answer:
$6,530.15
Explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100
= 7.1%/100 = 0.071 per year.
Putting time into years for simplicity,
9 months / 12 months/year = 0.75 years.
Solving our equation:
A = 6200(1 + (0.071 × 0.75)) = 6530.15
A = $6,530.15
The total amount accrued, principal plus interest, from simple interest on a principal of $6,200.00 at a rate of 7.1% per year for 0.75 years (9 months) is $6,530.15.