All categories

3 years ago

The following information was taken from Baxter Department Store's financial statements:

Business

1 answer:

vodka [1.7K]3 years ago

7 0

Answer:

500,000÷ 200,000 = 2.5

Explanation:

inventory turnover is calculated as

cost of goods sold ÷ Average inventory

From the information of Baxter department store's financial statement, cost of goods sold can be calculated as

Opening inventory + purchases - closing inventory

100,000 + 700,000 - 300,000 = 500,000

cost of goods sold = 500,000

Average stock is calculated as opening inventory + closing inventory ÷ 2

100,000 + 300,000 ÷ 2 = 200,000

Average inventory = 200,000

Therefore inventory turnover = 500,000÷ 200,000 = 2.5

You might be interested in

On February IN , Marshak's investment account has a balance Of $19,800. He deposited ,200 on April I and $2,600 on May l . He wi

lesya692 [45]

The dollar-weighted annual yield for this nine-month period is -2.7%.

<u>Solution:</u>

The investment of deposit on April 1 (Feb, March = 2 months)

$\Rightarrow\frac{(9-2)}{9}\times1200=\frac{(7)}{9}\times1200$

The investment of deposit on May 1 (Feb, March, April = 3 months)

$\Rightarrow\frac{(9-3)}{9}\times1200=\frac{(6)}{9}\times1200$

Therefore, Dollar-weighted annual yield for this nine-month period,

$\Rightarrow \frac{\text{Total interest}}{\text{Total investments}}$

On plugging-in the values,

$\Rightarrow\frac{14820-(19800+1200+2600-8400}{19800+\frac{7}{9}(1200)+\frac{6}{9}(2600)-8400}=-0.027$

In percentage notation,

$-0.027=(-0.027\times100)\frac{1}{100}=-2.7\% (\because \frac{1}{100}=\%)$

6 0

3 years ago

Unlike a general partnership, in a limited partnership

Trava [24]

In a limited partnership:

The inactive partner has limited liability for the business's debts

Explanation:

In a general partnership all partners share equal financial responsibility for the firm's decisions.

This means that all partners are supposed to have equal liabilities but hat is not the case for limited ones.

In limited partnerships there is a general partner who owns most of the business and has most of the availability and the limited partner has pooled resources for the business but has very little personal responsibility to it.

This model is usually there when the firm needs some investors and the person running business is usually the owner only.

7 0

3 years ago

An agent sells his client 10 U.S. government bonds due to mature in 30 years. According to NASAA's Statement of Policy on Unethi

Artemon [7]

Answer:

The bonds are guaranteed as to principal and interest payments by the US government.

Explanation:

According to NASAA's Statement of Policy on Unethical or Dishonest Business Practices of Broker-Dealers and Agents, a broker can say US government bonds are guaranteed on principal and interest payments.

However if inflation sets in and interest rates rises there is no guarantee from the government that interest paid on the bonds will match the higher interest rate.

So legally this statement is correct, even though the investor can lose money as a result of higher interest rate in the future.

4 0

3 years ago

Bill and rosie have been happily married for 40 years. they have never spent more than two nights apart. bill has been battling

lana66690 [7]

Hospice care
Care designed to give supportive care to people in the final phase of a terminal illness and focus on comfort and quality of life, rather than cure. The goal is to enable patients to be comfortable and free of pain, so that they live each day as fully as possible.

6 0

3 years ago

What is the purpose of the qualifications section of a resume

just olya [345]

Answer: so that you can be placed with the right job

Explanation:

3 0

4 years ago

Read 2 more answers