Well there are basically three types of budgets such as balanced budget, surplus budget and deficit budget
Explanation:
Answer: 83.53 days.
Explanation:
We would need to calculate the Current Assets as well as the Quick Assets.
Calculating the Current Assets we can use the Current ratio and Current Liabilities as follows,
Current Assets = Current Ratio * Current Liabilities
= 1.22 * 28,000
= $34,160
Then we calculate the Quick Assets which are essentially the most liquid assets being Cash and Cash Equivalents,
= Quick Ratio * Current Liabilities
= 0.71 * 28,000
= $19,880
Inventory will be Current Assets minus Quick Assets because Current Assets include all Current Assets whereas Quick Assets are Cash And Cash Equivalents Current Assets
= 34,160 - 19,880
= $14,280
We can then calculate the Inventory Turnover as,
= Cost of Goods sold / Inventory
= 62,400/14,280
= 4.36974789916 times.
Now we can finally calculate the days of Inventory by dividing the days in a year by the Turnover ratio. We will assume a 365 year.
= 365/4.36974789916
= 83.53 days.
It takes 83.53 days on average does it take to sell the inventory.
This assertion is true. In addition, the SEC has the remaining accountability to make certain that the FASB deals with troubles referred to it by the SEC.
The cooperative effort between the public and personal sectors has given the United States the first-rate economic reporting gadget in the world, and the Commission is intent on making it even better.
<h3 /><h3>Who does the SEC document to?</h3>
19 The SEC is guilty to Congress as it operates beneath the authority of federal legal guidelines inclusive of the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act), amongst others.
Learn more about SEC here:
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so,nominally,................... (copied by :- @-Venkatesh Rao cheap tricks-)
Answer:
Kensington Corp.
Accumulated other Retained Earnings
comprehensive income
December 31, 2020 $33,000 (DR) $340,000 (CR)
Explanation:
a) Data and Calculations:
Tax rate = 25%
Accumulated other Retained Earnings
comprehensive income
December 31, 2019 $18,000 (DR) $100,000 (CR)
Net income for 2020 280,000
Unrealized loss for 2020 15,000
Dividends for 2020 (40,000)
December 31, 2020 $33,000 (DR) $340,000 (CR)