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Likurg_2 [28]
3 years ago
13

Heritage, Inc., had a cost of goods sold of $44,621. At the end of the year, the accounts payable balance was $8,403. How long o

n average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables days
Business
1 answer:
Fiesta28 [93]3 years ago
7 0

Answer:

Days sales in payable = 68.74 days(Approx)

Explanation:

Given:

Cost of goods sold = $44,621

Accounts payable = $8,403

Days sales in payable = ?

Computation of Days sales in payable :

Days\ sales\ in\ payables=(Accounts\ payable\/cost\ of\ goods\ sold)\times365\ days

Days sales in payable = ($8,403 / $44,621) × 365 days

Days sales in payable = 0.188319401 × 365 days  

Days sales in payable = 68.7365814

Days sales in payable = 68.74 days(Approx)

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Damon convinced his aunt to lend him 2000 to purchase a plasma digital tv she has agreed to charge only 6 percnt simple interest
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Answer:

$120

Explanation:

In this question, we simply have to apply the simple interest formula which is shown below:

= Principal amount × rate of interest × time period

= $2,000 × 6% × 1 year

= $120

Simply we multiplied the principal amount with the interest rate and the time period so that the accurate amount can come.

So, $120 interest is paid for the year

7 0
4 years ago
Which of the following would be considered unemployed? a. Mark, laid off from his job as a bricklayer, returned to school full-t
Vinil7 [7]

Answer: Option D is unemployed.

Explanation:

Option A is currently fully occupied with his education.

Option B, Janice is still in college and not fully into the labor market.

Option C, is a high school student, just looking for a part time job, not really unemployed.

Option D, is not really engaged in any job or education, so currently unemployed.

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3 years ago
Suppose the government passes a law that reduces unemployment benefits in a way that causes unemployed workers to seek out new j
SCORPION-xisa [38]

Answer:

The correct answer is C. If the government passes a law that reduces unemployment benefits in a way that causes unemployed workers to seek out new jobs more quickly. The policy will cause the natural rate of unemployment to fall, which will shift the long-run aggregate supply curve to the right .

Explanation:

Unemployment occurs when there is a greater supply of labor than what is demanded. This means that there are people who seek employment at the regular wage rates, but who are unable to get employment in the open labor market. Unemployment also means that people who actually want to work (and who are unemployed) cannot work with what they are qualified for.

Unemployment is a social problem, and low unemployment and high employment are important in order to develop and maintain a welfare society. For each individual, work is the most important insurance for their own welfare and social inclusion.

If the aforementioned law were approved, and the unemployed began to look for work imminently (even leaving aside some pretensions), many of them would get a job in a shorter time than if this law were not approved, which would decrease the country's unemployment rate.

6 0
3 years ago
The quantity of money in an economy and the _____________________ are inextricably intertwined
xxTIMURxx [149]

Answer:

d) quantity of credit for loans

Explanation:

As more quantity is available being for a decrease in required reserve ratio or emission of currency It will increase the bank's money available for loans to companies and families. If the quantity of money decrease it will reduce the amount for loans. Thus,this vaiable are inextricably intertwined.

6 0
4 years ago
Prepare an annual income statement from the following adjusted trial balance.
umka2103 [35]

Answer:

                               Lucky Enterprises Income statement

                                                    Amount in $                           Amount in $

Revenue                                                                                          122,100

Operating expenses:                            

Salaries and Wages Expense      83,300

Rent Expense                                22,400

Supplies Expense                           5,500

Insurance Expense                          3,700

Interest Expense                                 800

Bad Debt Expense                              900

Depreciation Expense                   <u>   2,100</u>                                  

                                                                                                      <u>  </u><u>(118,700 )</u><u>  </u>

Net Income/(loss)                                                                       <u>      </u><u>3,400</u><u>     </u>

Explanation:

The income statement is the statement that shows if an organization made a net income or loss from its operations over a period of time.

It shows the sales and expenses of the organization.

6 0
4 years ago
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