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
ExtremeBDS [4]
3 years ago
5

Simon Company’s year-end balance sheets follow.

Business
1 answer:
klemol [59]3 years ago
3 0

Answer:

The answer is given below;

Explanation:

Days sales in inventory-2017= Average Inventory/Cost of goods sold*365

                                =(115,000+85,000)/2/(458,674)/365

                                =(100,000/458,674)*365

                                =80 days

Days sales inventory 2016= (85,000+56,000)/2/(385,686)*365

                                            =(70,500/385,686)*365

                                             =67 days

You might be interested in
On January 1, 2017, Waterway Co. enters into a contract to sell a customer a wiring base and shelving unit that sits on the base
nikklg [1K]

Answer and Explanation:

The journal entries are as follows;

a. On Jan 1

No journal entry is required

b. On Feb 5

Contra asset Dr $1,320

        To Sales revenue $1,320

(being sales revenue is recorded)

Cost of goods sold Dr $670

            To Inventory $670

(being cost of goods sold is recorded)

c. On Feb 25

Cash $3,300

Contra asset Dr $1,320

        To Sales revenue $1,980

(being sales revenue is recorded)

Cost of goods sold Dr $300

            To Inventory $300

(being cost of goods sold is recorded)

5 0
3 years ago
In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.
Flauer [41]

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

5 0
2 years ago
If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two
andrey2020 [161]

Answer:

PPF : Downward Sloping Straight Line

Explanation:

PPF is the locus of product combinations that an economy can produce, given resources & technology.

It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.

Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.

∆ Good sacrifised / ∆ Good gained

If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line

Eg : Good1    Good2     MOC [∆Good2/∆Good1]

      0               20             _        

      10             10           -10/10 = -1                  (10-20)/(10-0)

       20              0           -10/10 = -1                   (0-10)(/20-10)

So , same (1) good 2 is sacrifised to attain a good 1 each time.

However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.

5 0
3 years ago
"Diminishing marginal​ returns" refer to a situation in which the ______.A. average product of the last worker hired is less tha
galben [10]

Answer: C. marginal product of the last worker hired is less than the marginal product of the previous worker hired

This statement is correct because marginal product refers to the increase in the production, when 1 worker is added to the production process. Diminishing marginal returns set in when adding one extra worker increases the production less than the previous worker did.

Explanation:

5 0
3 years ago
Wegmans' excellent ________ far exceeds customer expectations, especially for a grocery store chain.
Jobisdone [24]
Produce??

Fresh meat?
3 0
3 years ago
Other questions:
  • A licensee makes a statement that is material to the transaction as though it were a fact when the licensee does not know whethe
    5·1 answer
  • Can people who disagree about normative ethical theory still reach agreement on practical ethical questions in the business worl
    12·1 answer
  • ________ are a vital part of the public health assessment function and are used to identify special risk groups, to detect new h
    7·1 answer
  • The Sherman Antitrust Act Group of answer choices was passed to encourage judicial leniency in the review of cooperative agreeme
    11·1 answer
  • Suppose a tax of $3 is imposed on each new garden hose that is sold, resulting in a deadweight loss of $22,500. The supply curve
    14·1 answer
  • An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020.
    6·1 answer
  • I'm dealing with "internal economies of scale". We are considering monopolistic competition as an example. We assumed that firms
    8·1 answer
  • Mr. Manning is looking to invest in a one-year stock option and has four possible options. The four options have various rates o
    7·1 answer
  • You just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and an 8% annual coupon. The bond has a c
    10·1 answer
  • What's it called when you contact the public with unsolicited offers via a multitude of types of communication and in high frequ
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!