Answer:
5.95
Explanation:
Deere inventory turnover for 2017 ratio is:
Formula for Inventory Turnover Ratio= Cost of Goods sold / Average Inventory
Where Average Inventory = (Previous Inventory + Current Inventory) / 2
= ($2,267 + $2,999) / 2
=$5,266 / 2
=$2,633
Average Inventory = $2,633
Therefore, Inventory Turnover Ratio = $15,661 / $2,633 = 5.9479 = 5.95
Deere Inventory Turnover for 2017 Ratio is 5.95.
Answer:
Calculation of Gain or Loss:
Book Value of Truck:
= 25,000 - 22,500
= $2,500
Gain on Exchange:
= 4,125 - 2,500 - 625
= $1,000
Therefore, the journal entry is as follows:
Accumulated Depreciation A/c Dr. $22,500
computer A/c Dr. $3,125
To Truck $25,000
To Cash $625
(To record the Truck)
Quotient Financial Corporation is a secured party with a security interest in property owned by Retail Sales Company. Perfection of this security interest may not protect Quotient Financial against the claim of <u>a trustee in bankruptcy.</u>
Explanation:
A security interest on a loan refers to a legal claim on collateral provided by the borrower ,it allows the lender to repossess the collateral and sell it if the loan goes default
A security interest reduces the risk for a lender, allowing it to charge lower interest on the loan.
Lower interest means that the borrower’s cost of capital will also be reduced.
Quotient Financial Corporation is a secured party with a security interest in property owned by Retail Sales Company. Perfection of this security interest may not protect Quotient Financial against the claim of <u>a trustee in bankruptcy.</u>
Answer:
Ending inventory= 30,000
Explanation:
Giving the following information:
Its beginning inventory is $70,000, goods purchased during the period cost $240,000, and the cost of goods sold for the period is $280,000.
The ending inventory is the cost of the units remaining at the end of the period.
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
280,000= 70,000 + 240,000 - ending inventory
ending inventory= 70,000 + 240,000 - 280,000
Ending inventory= 30,000
They run the risk of diluting the firm's ownership. Hope I helped! :)
