1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Olegator [25]
3 years ago
8

Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $552,500 Inventories: Beginning of y

ear 200,000 End of year 140,000 Determine the number of days' sales in inventory for the year. a.39.6 days b.132.1 days c.92.5 days d.112.3 days
Business
1 answer:
Marrrta [24]3 years ago
7 0

Answer:

The answer is D.

Explanation:

Number of days' sales in inventory is the average number of days that a company will take to sell of its inventory within the year. It tells us the number of days funds are tied up in inventory.

The formula is (average inventory/cost of sales) x 365days.

Average inventory =

($200,000 + $140,000) ÷ 2

$170,000

Therefore, Number of days' sales in inventory is

($170,000/$552,500) x 365days

=112.3 days

You might be interested in
Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general jo
Julli [10]

Answer and Explanation:

The preparation of sales journal is shown below:-

Date Account     Invoice      Account                  Cost of

               Debited    Number       Receivable Dr.    Good Sold Dr.

                                                     Sales Cr.                 Inventory Cr.

May-07 J. Dryer    5704         1,566                            1,080

May-12 R. Lamb     5705          432                               270

May-25 T. Taylor    5706          707                                450

Therefore, only credit sales of merchandise inventory is included while rest of the transactions is not relevant in sales Journal.

5 0
3 years ago
A portfolio consists of $13,400 in Stock M and $18,900 invested in Stock N. The expected return on these stocks is 8.50 percent
Aneli [31]

Answer:

The expected return on the portfolio is:

10.31% ($3,331.40)

Explanation:

a) Data and Calculations:

Portfolio investments:  Expected Returns %   Expected Returns $

Stock M = $13,400           8.50%                           $1,139

Stock N = $18,900          11.60%                           $2,192.40

Total        $32,300          10.31%                           $3,331.40

Total expected returns in percentage is Expected Returns $/Total Investments * 100

= $3,331.40/$32,300 * 100

= 10.31%

b) The expected returns on the portfolio is derived by calculating the expected returns for each investment and summing up.  Then dividing the expected portfolio returns by the portfolio investment.  This yields 10.31% percentage value.

3 0
3 years ago
Kenneth is a bank executive and when one of his customers offers him box seats to a Chicago Cubs game he knows he cannot accept
olchik [2.2K]

This reflects a difference in  business ethics.

  • Business customs can be divided into three categories: imperatives, which must be acknowledged and accommodated; electives, which can be adapted to but are not required to; and exclusives, in which outsiders are not permitted to participate.
  • In foreign marketing, flexibility of approach is essential.
  • The fundamental distinction between business ethics and general ethics is that general ethics include all moral ideals, but business ethics only pertain to matters of business.

What is business ethics reflection?

  • Everyone should possess a strong sense of business ethics. It reveals how the person's character is reflected.
  • Being morally upright is recognizing what is right and wrong, among other things.
  • Because a firm is all about providing excellent customer service, the business ethics of its employees are very significant.

Learn more about  business ethics

brainly.com/question/14971689

#SPJ4

5 0
2 years ago
Two friends decide to rent an apartment and split the cost evenly. They each paid $575 towards the total move in cost of first a
ziro4ka [17]

Friend's apartment cost $325 per month, then the security deposit by them is, $500.

<h3 /><h3>What is security deposit?</h3>

A security deposit is an amount of money a landowner takes from a payer other than the early payment of rent.

<h3>Calculation of security deposit:</h3>

Given that,

Each paid total= $575

Monthly rent= $325/month

The security deposit = ?

Total paid by both person = $575 x 2 = $1150 for first rental cost, last month's rental and security deposit. We can write down this argument into an equation as follows:

\text{First Rental}+\text{Last rental}+ \text{Security Deposit} = \$1,150\\\\\$325+\$325+\text{Security Deposit} =$1,150\\\\ \text{Security Deposit}=\$1,150 - \$325\ - \$325.\\\\\text{Security Deposit}=\$1,150 - \$650\\\\\text{Security Deposit}= \$500.

Therefore, The security deposit for the apartment is $500.

Learn more about Security deposit, refer:

brainly.com/question/1752098

6 0
2 years ago
property has Gross Scheduled Income of $100,000. The vacancy rate and credit rate allowance is 3% whereas Operating expenses are
Ugo [173]

Answer:

The answer is "10.5\%"

Explanation:

Following are the Cap rate:

 = \frac{(Income \times (1 - vacancy\  rate) - operating \ expense)}{\text{purchase price of property}}

= \frac{(\$ 100,000 \times 0.97 - \$ 34,000)}{\$ 600,000}\\\\= \frac{\$ 63,000}{ \$ 600,000}\\\\= 10.5\%

8 0
3 years ago
Other questions:
  • The phi of 600 patients in Tennessee was breached. Whom should be notified
    11·1 answer
  • Presented below is the trial balance of Novak Corporation at December 31, 2020. Debit Credit Cash $ 198,550 Sales $ 8,101,220 De
    14·1 answer
  • It is a hot day, and kenji is thirsty. here is the value he places on a bottle of water:
    7·1 answer
  • Clara and Sandra collaborate to open a cafe. They come to an arrangement wherein Sandra manages the cafe from Monday to Wednesda
    13·1 answer
  • Kaspar Industries expects credit sales for January, February, and March to be $220,000, $260,000, and $300,000, respectively. It
    15·1 answer
  • Question 26 of 40
    6·1 answer
  • Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins
    5·1 answer
  • If oligopolists engage in collusion and successfully form a cartel, the market outcome is:_________
    7·1 answer
  • Martin, a u.s. citizen, travels to mexico and buys a newly manufactured motorcycle made there. his purchase is included in?
    10·1 answer
  • in an efficient market, . all securities have the same price the excess return on all securities is zero all securities are fair
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!