Answer:
5.79 times
Explanation:
The computation of the Accounts receivable turnover ratio
= Credit sales ÷ average accounts receivable
where,
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($46,400 + $49,700) ÷ 2
= $48,050
And, the net credit sale is $278,000
Now put these values to the above formula
So, the answer would be equal to
= $278,000 ÷ $48,050
= 5.79 times
Answer:
Cost of merchandise sold = $ 28
Gross profit = $ 13
The ending inventory under the LIFO method = $ 18
Explanation:
Given:
October 5,
Purchased units = 1
Unit cost = $5
on October 12,
Purchased units = 1
Unit cost = $ 13
On October 28,
Purchased unit = 1
Unit cost = $ 15
Total cost of the 3 units purchased = $33
Now, the unit sold on October 31 will be the unit purchased in the end i.e on October 28
thus,
Cost of merchandise sold = $ 28
Gross profit = Selling price of the unit - Unit price of purchase
or
Gross profit = $ 28 - $ 15 = $ 13
now, the ending inventory under the LIFO method = $ 5 + $ 13 = $ 18
Answer: $45,862.29
Explanation:
This question relates to the Present value of an Annuity.
The original price would be the present value of the payments and since the payments are constant over a period, they are an annuity
Interest/ r = 2.25/12 months = 0.1875%
Periods/ n = 4 * 12 months = 48 months
= Payment * (( 1 - ( 1 + r) ^ n)/ r)
= 1,000 * (( 1 - ( 1 + 0.1875%)^48) / 0.1875%)
= $45,862.29
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Answer:
Company A will pay $16,000 and Company B will pay $8,000.
Explanation:
Pro rata method means allocating the amount to each company according to their percentage amount.
Here in this case,
Total Insurance amount = $100,000+50,000 = $150,000
Company A share if $24,000 loss occurs:
= 
$ 16,000
Company B share if $24,000 loss occurs:
= 
$ 8,000
Hence , Company A will pay $16,000 and Company B will pay $8,000.
