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3 years ago

Ralph is single and has the following items for the current year:

Business

1 answer:

scoray [572]3 years ago

3 0

Answer:

Explanation:

$10,000 - [$6,000 + ($9,000 - $3,000)] = ($2,000). Therefore, nothing is added back.

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The following information is available for Zoe’s Activewear Inc. for three recent fiscal years. 2022 2021 2020 Inventory $553,00

Natali5045456 [20]

Answer:

Please see answers below

Explanation:

2022.

Inventory turnover = Sales / average inventory

Where,

Average inventory = Beginning inventory + Ending inventory

Sales for 2022 = $1,948,000

Average inventory = (553,000 + 586,000) / 2 = 560,500

Inventory turnover = 1,948,000 / 560,500

Inventory turnover = 3.475468332

• Days on inventory

= 365 / Inventory turnover

= 365 / 3.47546833184657

= 105

• Gross profit rate

= Gross profit / Sales × 100

= (1,948,000 - 1,552,000) / 1,948,000 × 100

= 20.33%

2021.

Sales = 1,725,000

Average inventory = (332,000 + 568,000) / 2 = 450,000

Inventory turnover = 1,725,000/450,000

= 3.833333333

• Days on inventory

= 365 / 3.833333333

= 95 days

• Gross profit rates

= Gross profit / Sales × 100

= (1,725,000 - 1,288,0000) / 1,725,000

= 25.33%

4 0

3 years ago

Vegetarian Delights has been experiencing declining market conditions for its specialty foods division. Management decided to te

harina [27]

Answer: $9 million

Explanation:

Based on the information given in the question, the amount of the impairment loss that Vegetarian Delights should record will be calculated as:

Book value of division's asset = $34.0 million

Less: Fair value of divisions asset = $25 million.

Impairment loss = $34million - $25million = $9 million

7 0

3 years ago

Over the past two years, Cute Camel Woodcraft Company has relied more on the use of short-term debt than on long-term debt finan

daser333 [38]

Answer:

c. Cute Camel's total current liabilities decreased by $172 million, while its long-term debt account decreased by $515 million

Since short term liabilities (current liabilities) increase while long term liabilities decrease, it means that the company is relying more on short term liabilities.

Explanation:

Option A is wrong because notes payable are generally part of long term liabilities. Only the portion of notes payable due within one year is reported as current liabilities.

Option B is wrong because long term liabilities increase much more than short term liabilities.

5 0

3 years ago

Financial statements of Kansas Ltd (Fr) for 2X13 are authorized by management and auditors on February 15, 2X13 for issuance on

mrs_skeptik [129]

Answer:

a) In compliance with the IFRS

Explanation:

Since in the question it is mentioned that The financial statement of kansas ltd would be authorized by the management and auditors as on Feb 15 fpr issuance. On Feb 20 it settled as a plaintiff a 5 million euro lawsuit. Now the CFO of the company have make the second decision regarding the financial statement presentation in which he decides not to record this settlement so here is in compliance with the IFRS

Therefore the option A is correct

7 0

3 years ago

Lindsay is training two new sales representatives, Lance and Ayden, to use the revised client-tracking database, which has been

Semenov [28]

Answer:

a. Be sure that Lance and Ayden know how to connect to Lindsay’s desktop.

b. Frequently ask Lance and Ayden if what she is saying makes sense.

e. Expect to review meeting content due to the limitations of virtual technology.

Explanation:

In today's world there is a wide array of different programs that allow us to virtually connect with other individuals in order to communicate, share ideas, and hold meetings. These options, unfortunately, have their downsides as well, the main one being faulty connection which leads to miscommunication. This can lead to serious problems. Therefore the best way to guarantee success is to help those attending the meeting make sure they know how to connect and participate correctly, and continuously make sure they are understanding everything that is being said. Once the meetings are done, a review will make sure that everyone is on the same page and clear up any questions that anyone may have.

6 0

3 years ago