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SCORPION-xisa [38]
4 years ago
15

The following is information for Palmer Co.

Business
1 answer:
horsena [70]4 years ago
4 0

Explanation:

The computation of inventory turnover and the days sales in inventory is shown below:

Inventory turnover ratio equals to

= Cost of goods sold ÷ average inventory

where,  

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

For 2017, it would be

= $(578,825) ÷ {($102,900 + $93,250) ÷ 2}

= $(578,825) ÷ ($98,075)

= 5.90 times

For 2016, it would be

= ($361,650) ÷ {($98,000 + $93,250) ÷ 2}

= ($361,650) ÷ ($95,625)

= 3.78 times

Now the days sales in inventory is

= Total number of days in a year ÷ inventory turnover ratio

For 2017, it would be

= 365 days ÷ 5.90 times

= 61.86 days

For 2016, it would be

= 365 days ÷ 3.78 times

= 96.56 days

We assume there are 365 days in a year

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Suppose an oligopolistic producer assumes its rivals will ignore a price increase but match a price cut. In this case the firm p
andreyandreev [35.5K]

Answer: C) demand curve as kinked, being steeper below the going price than above.

Explanation:

For an oligopolistic producer, who assumes that its rival would ignore a price increase but match a price cut, the perception of the firm about it demand curve is that it would be kinked, being steeper below the going price than above.

6 0
4 years ago
true or false: self-employed taxpayers pay the employee portion of the fica tax burden through self-employment taxes, but they a
Contact [7]

self-employed taxpayers pay the employee portion of the fica tax burden through self-employment taxes, but they are exempt from paying the employer portion . This statement is false.

Tax payment for self employed?

The practice of working independently rather than for an employer is known as self-employment.If a person chooses to be recognized as a self-employed individual or is generating income for which a tax return must be filed, tax authorities will typically view them as such.The crucial question for tax authorities in the real world is not whether a person is engaged in a business activity—which is still referred to as "trading" when referring to the provision of a service—but rather whether the activity is profitable and, as a result, potentially subject to taxation.To put it another way, the tax authorities generally ignore occasional and hobby- or enthusiast-based economic activity because trading is likely to be ignored if there is no profit.People who work for themselves are typically referred to as sole proprietors (or sole traders), independent contractors, or partners.

to know more about taxation for self employment from the given link

brainly.com/question/28402044

#SPJ4

4 0
2 years ago
Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report f
Viefleur [7K]

Answer:

Beginning projected benefit obligation = $90,000

Explanation:

Beginning projected benefit obligation = Interest cost / Discount rate

=$7,200 / 8%

=$7,200 / 0.08

=$90,000

8 0
3 years ago
Learning to communicate with candor can mean breaking old habits, which is sometimes difficult.
tigry1 [53]

Answer:

b. Employees feel comfortable speaking freely, knowing that they can trust their managers.

c. When managers speak their minds, employees quickly learn what ideas are and are not acceptable, and there is less dissent.

d. There is a greater exchange of ideas, which promotes learning in the organization.

Explanation:

Speaking with candor with managers and colleagues is bound to bring a plethora of benefits. Firstly, by nature, everyone prefers to clearly state their opinion rather than hide it and hope someone will get to their point. This way, trust is mutually shared.  

Sometimes, managers tend to implicitly hide what they are trying to say. That is not necessarily unethical, people do that unintentionally. However, if they put more candor in speech, employees would get clear requirements regarding certain ideas and projects.

If everyone used candor, brainstorming would be promoted and the organization's learning curve would improve.

5 0
3 years ago
At her favorite restaurant, Sami orders and enjoys the lobster special, which was listed at $30 on the menu. When the bill arriv
dimaraw [331]

Answer:

NO It will pay the remaining 10 dollars later.

Explanation:

There are four requirement according to the Uniform Commercial Code:

  1.    You and the creditor disagree about the claim amount or haven't finalized it.
  2.    The paid in "full statement" is easy to see.
  3.    You pay the amount in good faith.
  4.    The creditor cashes the check.

In this case the first and third criteria are not met. The amount is certain, easy to identify the cost of the service and both parties are informed of these amount.

Also, is important to notice Sami is not acting in good faith at all. Is doing this to exploit his knowledge over the waiter.

The fact the restaurant cashes the check do not avoid further claims on Sami the UCC (Uniform Commerical Code) gives about 90 days after cashing the check in favor of the creditor to change his mind and proceed with the collection of the full amount.

Most probably Sami will have to pay the ten dollars later or to find another restaurant.

3 0
3 years ago
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