1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
elena-s [515]
3 years ago
13

Exeter Enterprise Inc. reported net sales of $250 million last year and generated a net income of $55.00 million. Last year’s ac

counts receivable increased by $35 million. What is the maximum amount of cash that Exeter Enterprise Inc. received from sales last year?
Business
1 answer:
MArishka [77]3 years ago
5 0

Answer:

The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million

Explanation:

Net Income = $55 million

Increase in receivable = $35 million

Net Sales = $250 million

Cash Received from sales = Net Income - increase in receivables

Cash Received from sales = $55 million - $35 million

Cash Received from sales = $20 million

The maximum amount of cash that Exeter Enterprise Inc. received from sales last year is $20 million

You might be interested in
Generally it is thought that assignment of property rights leads to efficient use of resources. We noted two cases however (the
malfutka [58]

Answer:

Explanation:

This could be due a number of factors.

1 Externality effect

2 There could also be market failure, when property rights are not properly defined.

Externality is the effect of a third party on a property right, when all parties cannot come to an agreeable resolution on properties this could lead to inefficient use of land.

Also when the property rights are not put in place its difficult to come to a resolution that satisfies all parties.

4 0
3 years ago
The following information applies to the questions displayed below Over a four-year period, Jackie Corporation reported the foll
lawyer [7]

Answer:

1. Gross Profit ratio

2018 47%

2019 30%

2020 62%

2021 47%

2. Gross Profit ratio

2018 47%

2019 47%

2020 47%

2021 47%

Explanation:

1. Calculation for the gross profit ratio for each of the four years based on amounts originally reported.

2018 2019 2020 2021

Net sales $60,000 $66,000 $74,000 $90,000

Less Cost of goods sold $32,000 $46,000 $28,000 $48,000

=Gross profit$ 28,000 $20,000 $46,000 $42,000

Gross Profit ratio

2018 47% =$28,000/$60,000

2019 30% =$20,000/$66,000

2020 62% =$46,000/$74,000

2021 47% =$42,000/$90,000

2. Calculation for the gross profit ratio for each of the four years based on corrected amounts.

Cost of goods sold 2019=$46,000-$11,000

Cost of goods sold 2019=$35,000

Cost of goods sold 2020=$28,000+$11,000

Cost of goods sold 2020=$39,000

2018 2019 2020 2021

Net sales $60,000 $66,000 $74,000 $90,000

Less Cost of goods sold $32,000 $35,000 $39,000 $48,000

=Gross profit $28,000 $31,000 $35,000 $42,000

Gross Profit ratio

2018 47% =$28,000/$60,000

2019 47% =$31,000/$66,000

2020 47% =$35,000/$74,000

2021 47% =$42,000/$90,000

3 0
3 years ago
"You save $3,260.00 in a savings account earning a 3.55% APR compounded monthly. How much is the total interest earned by the en
sammy [17]

Answer:

$ 29.018 ( approx )

Explanation:

The amount formula in compound interest,

A=P(1+r)^t

Where,

P = principal amount,

r = rate per period,

t = number of periods,

Here, P = $ 3260.00,

Since, the amount is compounded monthly,

So, the number of periods in 3 months, t = 3,

Also, annual rate = 3.55 % = 0.0355,

So, the rate per month, r = \frac{0.0355}{12}  (∵ 1 year = 12 months)

Thus, the amount after 3 months,

A=3260(1+\frac{0.0355}{12})^3=3289.01817638\approx 3289.018

Hence, the total interest earned,

I = A - P =3289.018 - 3260 = $ 29.018

3 0
3 years ago
Problem 8-15 Comparing Investment Criteria [LO 1, 3, 4, 6] Consider the following two mutually exclusive projects: Year Cash Flo
stiks02 [169]

Answer:

Payback period (A)  is 3.44 years

Payback period (B)  is  2.39 years

Explanation:

Cash Flow (A)   –$428,000; $42,500;  $63,500;  $80,500;  $543,000

Cash Flow (B)   –$41,500; $20,700; $13,000; $20,100; $16,900

The payback period will note consider discounting rate, thus we do manual counting till the cash flow equal to zero (0)

Payback period = Number of Years immediately preceding year of break-even + (investment - cashflow of Years immediately preceding year of break-even)/ cashflow of year break- even

Project A will be break even in Year 4, then

Payback period (A)  = 3 years + ($428,000 - ($42,500+$63,500+$80,500))/ $543,000 = 3.44 years

Project B will be break even in Year 3, then

Payback period (B)  = 2 years + ($41,500 - ($20,700+$13,000))/$20,100 = 3.44 years = 2.39 years

8 0
3 years ago
A 10% rise consumer income results in a 4% decrease in the quantity demanded for pasta. the income elasticity of demand for past
Stells [14]
The income elasticity of demand for pasta is -0.4 based on the data from the question above. The answer to this problem can be solved using the elasticity formula which stated as ED = Q percent change / I percentage change where ED is the elasticity of demand, Q is the quantity of the product, and I is the consumer's income<span>. (Calculation: -4%/10%=-0.4)</span>
5 0
3 years ago
Other questions:
  • If a good is both excludable and nonrival in consumption, then it is
    5·1 answer
  • Because of uncertainty about future inflation, the union devotes a large quantity of resources to monitoring inflation indicator
    12·1 answer
  • In 1-4 sentences, name and describe the three kinds of procedures in an economy.
    8·1 answer
  • Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro
    6·1 answer
  • Shirley received $500 monthly sick pay under a welfare fund and $6,500 monthly under a disability insurance policy offered by he
    6·1 answer
  • During 2011, Clark Company manufactured equipment for its own use at a total cost of $2,400,000. The project required the entire
    7·1 answer
  • In evaluating independent projects, no incremental analysis is necessary between projects. Each project is evaluated separately
    10·1 answer
  • The government of Diamza recently passed a law making it mandatory for any foreign company that wants to do business in its coun
    15·1 answer
  • Which of the following is important in determining the extent of competition in an industry?
    5·1 answer
  • If a manufacturing process takes 4 hours per unit of x and 2 hours per unit of y and a maximum of 100 hours of manufacturing pro
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!