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MA_775_DIABLO [31]
3 years ago
12

Franklin Aerospace has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current as

sets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $200,000 in the most recent annual report. Over the past year, how often did Franklin Aerospace sell and replace its inventory? 2.86x 8.28x 8.01x 9.11x
Business
1 answer:
KIM [24]3 years ago
3 0

Answer:

8.28 times

Explanation:

Quick Ratio = \frac{CA\ -\ Inventory\ - Prepaid\ Expenses}{Current\ Liabilities}

wherein, CA = Current Assets

Inventory =  Total Current assets - cash - accounts receivables

Inventory = 80,500 - 36225 - 20125 = $24,150

Inventory Turnover is used as a measure to know how frequently a firm uses and sells inventory in a given period of time.

A high inventory turnover ratio depicts how rapidly inventory is being sold. So higher the ratio, the better it is for a firm.

Inventory Turnover Ratio = \frac{Net\ Sales}{Average\ Stock} = \frac{200,000}{24,150}  = 8.28 times approx.

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In a good system of internal control, the person who initiates a transaction should be allowed to effectively control the proces
amm1812

Answer:

b) False

Explanation:

One of the key features of a good internal control system is the segregation of duties (SoD).

The principle of the segregation of duties entails that an individual is not allowed to initiate a transaction, review and approve the same transaction. In other words, a good internal control system would not allow an individual carry out all processes for a transaction from initiation, to authorization to approval to recording.

A system in which these responsibilities are shared mitigates against the risk of fraud and error.

Hence, in a good system of internal control, the person who initiates a transaction should be NOT be allowed to effectively control the processing of the transaction through its final inclusion in the accounting records

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2 years ago
Gary is the founder of an animal shelter; he shares a special bond with animals. Hence, he prefers to employ people who care for
Harrizon [31]

Answer:

normative control

Explanation:

Normative control refers to using the values that the employees share as standards instead of using policies to influence the desired behaviors. According to this, the answer is that this is an example of normative control because Gary employs people that share certain values and behaviors and these become the standard to perform their jobs.

4 0
3 years ago
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transaction
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Answer:

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3 years ago
Gore Global is considering the two mutually exclusive projects below. The cash flows from the projects are summarized below.
coldgirl [10]

Answer:

D

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

Flying Car

Cash flow in year 0 = -$200,000

Cash flow in year 1 = 50,000

Cash flow in year 2 = 50,000

Cash flow in year 3 =80,000

Cash flow in year 4 =100,000

IRR = 13%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

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2 years ago
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Answer:

The examples of the given circumstances are provided below.

Explanation:

<u>Interpretations of how the international corporation (including such Unilever) was indeed changing the distribution platform</u>:

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  • The corporation has a more adaptable distribution network which virtually guarantees direct services to consumers worldwide thru all the different retailers, shopping centers as well as other chain stores.

<u>Interpretations of how and why the International Corporation is changing targeted advertising</u>:

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