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Strike441 [17]
3 years ago
7

Sheffield Corporation had net credit sales of $14300000 and cost of goods sold of $9070000 for the year. The average inventory f

or the year amounted to $1814000. The inventory turnover for the year is__________.
Business
2 answers:
Art [367]3 years ago
6 0

Answer:

$5

Explanation:

Inventory turnover is the ratio of the cost of goods sold to the average inventory for the year. Mathematically,

Inventory turnover = cist of goods sold/Inventory for the year

Given cost of goods sold = $9070000

Inventory = $1814000

Inventory turnover = $9070000/$1814000

= $5

Mice21 [21]3 years ago
3 0

Answer:

5

Explanation:

Inventory turnover can be defined as the ratio of the number of time a company/firm/organization has sold and replaced its inventory during a given period of time.

Inventory turnover is calculated by dividing the cost of goods sold by the average inventory; i.e

Inventory turnover = <u>cost of goods sold</u>

                                      Avrg. Inventory

For the above question, the inventory turnover is calculated by using the formula above,

where,

cost of goods sold = $9070000

average inventory = $1814000

Inventory turnover = <u>$9070000</u>

                                $1814000

                             =    5.

The Inventory turnover for Sheffield corporation is 5.

that means  Sheffield corporation has sold and replaced its inventory 5 times.

Cheers.

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Stealth bank has deposits of $300 million. it holds reserves of $20 million and has purchased government bonds worth $300 millio
ryzh [129]

First let us identify if the asset is a gain or loss. An asset is a gain if it contributes to the banks overall finance while it is a loss if it is a cost directly or indirectly.

Deposits of $300 million = Gain (+)

Reserves of $20 million = Gain (+)

<span>Purchased government bonds worth $300 million = Loss (-)         ---> This entails cost</span>

Selling bank’s loans at current market value of $600 million = Gain (+)

Therefore adding up everything to get the banks net worth:

Stealth banks net worth = $300 M + $20 M - $300 M + $600 M

<span>Stealth banks net worth = $620 million</span>

7 0
3 years ago
Nyeil is a consumer products firm that is growing at a constant rate of 6.5 percent. The firm’s last dividend was R3.36. If the
OleMash [197]

Answer:

31.12

Explanation:

Given that,

Growing at a constant rate = 6.5%

Firm’s last dividend, R = 3.36

Required rate of return = 18%

Expected dividend next year = 3.36 × (1 + 6.5%)

                                                 = 3.5784

Market value of stock:

= Expected dividend next year ÷ ( required return - growth rate)

= 3.5784 ÷ (0.18-0.065)

= 31.11652

= 31.12

3 0
3 years ago
The total assets on the balance sheet was $128,800 before journalizing and posting the adjusting entries for $800 of expired ins
Tanya [424]

<u>Given:</u>

Total assets before journalizing and posting the adjusting = $128,800

Expired insurance = $800

Expired rent = $2,400

Depreciation = $900

<u>To find:</u>

Total assets after journalizing and posting the adjusting

<u>Solution:</u>

To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.

The calculation is as follows,

Total assets after journalizing and posting the adjusting

\Rightarrow\$128,800 - \$800 - \$2,400 - \$900 = \$124,700

Therefore, the required value of the total assets after journalizing and posting the adjusting is $124,700.

8 0
3 years ago
Mass media can be employed to publicize a cause or product by distributing information that is distorted or exaggerated. What is
Kryger [21]

Explanation:

to you ggagsusgfaaywugahagagttsgsy<em>y</em><em>y</em><em>e</em>

6 0
2 years ago
All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax
yulyashka [42]

Answer:

The income before tax is $370450, the income tax is $111135 and the net income is $259315.

Explanation:

As the data table is not visible,online a similar question is found for which the data is attached here with.

From the given data

Service Revenue=$943,000

Interest Revenue=$127,1000

Total Revenue=Service Revenue+Interest Revenue=$1070100

Now The expenses are given as

Supplies Expense=$349,200

Repairs and Maintenance Expense =$258,300

Depreciation Expense=$60,350

Rent Expense=$ 31,800

Total Expense=Supplies Expense+Repairs and Maintenance Expense+Depreciation Expense+Rent Expense=$699650

So the income before tax is given as

Income=Total Revenue-Total Expense

Income=$1070100-$699650

Income=$370450

So the income before tax is $370450.

Now the tax is estimated at 30% as given tax rate as

Tax=Rate*Income

Tax=30%*$370450

Tax=$111135

So the income tax is $111135.

Now the Net income is given as

Net Income=Income-Tax

Net Income=$370450-$111135

Net Income=$259315

So the Net Income is $259315.

8 0
3 years ago
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