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3 years ago

Condensed financial data are presented below for the Phoenix Corporation:

Business

1 answer:

dybincka [34]3 years ago

6 0

Answer:

profit margin 7.77%

Interpretation: from evey dollar of sales the firm achieves almost 8 cent of net income

inventory turnover ratio 3.45

Interpretation: the inventory is sold 3 and a half times during the year

Explanation:

the profit margin is the quotient between net income and sales.

$\frac{net \: income}{sales} = $profit margin$

127,500 / 1,640,000 = 7.77%

the inventory turnover wil be the cost of good sold over the average inventory during the year

(312,500 + 257,500)/ 2 = 285,000

982,500 / 285,000 = 3,447368421

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The Breeze trading company discloses the following information for the month of August 2016.

s344n2d4d5 [400]

Answer:

Periodic system: FIFO ; COGS= $11400, closing inventory = $7700, gross profit=$14000. LIFO = closing stock= 6600, COGS=$12500, gross profit=12900.

perpetual system: FIFO ;COGS=11400, closing stock= $7700, gross profit= $11400. LIFO ; COGS=$12500, closing stock= $6600, gross profit = $12900

Reason for a higher gross profit in FIFO than LIFO is some of the stock ends up not being sold as they are maybe old, out-fashioned, and obviously new trend come about everyday.

Explanation:

PERIODIC

DR purchases account CR

11-Aug bank 9600 inventory 16100

20-Aug bank 6500

16100 16100

FIFA cost of sales

opening balance 3000

purchases 16100

closing 7700

cost of sales 11400

gross profit 14000

sales 25400

cost of sales 11400

closing inventory 7700

200 units from 11 aug 1200

1000 units from 20 aug 6500

LIFO

closing balance 6600

600 units from 01 aug 3000

600 units from 11 aug 3600

Cost of sales

opening stock 3000

purchases 16100

closing stock 6600

cost of sales 12500

gross profit 12900

sales 25400

cost of sales 12500

perpetual inventory system

FIFA

cost of sales 11400

10-Aug 2000

15-Aug 5800

27-Aug 3600

3 0

3 years ago

One way of shooting a bow is the instinctive aiming method. what is true about this method? you look at the target with the righ

Sergio [31]

Answer: this method takes longer to perfect than the bowsight method.
In instinctive aiming method. You aim at the target with your both eyes open so looking at the target with the right eye closed or with the left eye closed is not true. It is also not true that this method is less versatile than the bowsight method. It is true that this method takes longer to perfect than the bowsight method.

5 0

3 years ago

Customers who face the same general needs of the marketplace but are likely to experience them months or years earlier than the

inn [45]

Answer:

Letter B is correct. Lead Users.

Explanation:

Term developed by prof. Eric von Hippel, Lead Users are those users who are able to transform, adapt and modify a company's product or service for their own benefit, as they face the same market needs a while before regular users.

For Prof Eric von Hippel, there are four steps in developing Lead Users:

Preparation,
Needs and Trends Identification,
Lead Users Identification, and
Concept Design.

The premise is that the Lead Users method is effective in identifying innovation and product trends that need to be developed for a market for your needs.

3 0

3 years ago

On January 1, the first day of its fiscal year, Pretender Company issued $12,700,000 of five-year, 11% bonds to finance its oper

yarga [219]

Answer:

1) Debit Bank $11787069 Debit bond discount $912931 ; Credit Bond $12700000

2) Debit Interest expense $751293 ; Credit Bank $660,000 Credit Discount on Bond payable $91293

3 )Debit interest expense $ 751293 ; Credit bank 660000, Credit discount on bond payable $91293

b)Interest expense = $1502586

c)It is because a financial crisis might have happened prior to issuing the bond and the company still went ahead with issuing even though the rate has changed.

Explanation:

interest expense = 12000000 * 0.11 * 6/12=$660000

discount on bond payable = $912931 /5 = 182586 /2= 91293

Interest expense = $751293 * 2 = $1502586

7 0

3 years ago

How are contract law and torts related?

bija089 [108]

D. They are both types of civil law

5 0

3 years ago

Read 2 more answers