Answer:
Maple Leaf, Inc.
Inventory Turnover:
b. Greater than 2 but less than 3
Explanation:
a) Data and Calculations:
1) Average inventories:
Raw materials $2,500,000
Work-in-process $1,000,000
Finished goods $800,000
Total average inventory $4,300,000
Cost of goods sold = $12,000,000
Inventory Turnover = Cost of goods sold/Average Inventory
= $12,000,000/$4,300,000
= 2.79 times
2) Inventory turnover is a financial ratio that shows the number of times in a year that inventory has been sold by Maple Leaf, Inc. When it divides the number of days, say 360 days in a year, the ratio that comes out shows the number of days it takes Maple to sell its inventories.
When buying or selling a futures contract, the trader commits what amount of funds the amount of the initial margin. A futures contract is a legal agreement to buy or sell assets, mainly commodities, at a set price but it will be delivered and paid for later. Based on the definition of a futures contract, the trader will have to commit to the initial amount that was set to be traded when the legal agreement was made.
Answer:
"D" is the correct answer!
Explanation:
Written communication is the use of a printed message, such as letters, training manuals, memos, proposals and emails. Emails. memos etc are all technology channels or apps.
Answer:
No options presented but the entry below should be right.
$2,600 worth of merchandise was purchased but $600 was returned so Net accounts receivable:
= 2,600 - 600
= $2,000
Company paid the full amount on July 12 which is within the 10 days required for a discount so they get a 3% discount:
= 2,000 * ( 1 - 3%)
= $1,940
Date Account details Debit Credit
July 12 Accounts Payable $2,000
Cash $1,940
Merchandise inventory $60