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Ahat [919]
2 years ago
7

The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 9,619 Accounts r

eceivable 76,422 Merchandise inventories 66,362 Prepaid expenses 5,300 Accounts payable $ 16,150 Notes payable 92,638 Other current liabilities 10,700 If net sales for the current year were $605,500, the firm's days' sales uncollected for the year is:
Business
1 answer:
abruzzese [7]2 years ago
5 0

Answer:

46.07 days

Explanation:

Calculation for the firm's days' sales uncollected for the year

Using this formula

Days' Sales Uncollected Ratio = Ending Accounts Receivable/Net Sales * 365

Let plug in the formula

Days' Sales Uncollected Ratio = ($76,422/$605,500) * 365

Days' Sales Uncollected Ratio = 46.067 days

Days' Sales Uncollected Ratio = 46.07 days Approximately

Therefore the firm's days' sales uncollected for the year is: 46.07 days

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IrinaK [193]

Answer:

a.       I Disagree with Faith's method of handling this situation because she has not followed the internal control principle of safeguarding of assets. Stealing is a serious issue. An employee who can justify taking a box of tea bags can probably justify “borrowing” cash from the cash register.

b.      I Agree with Faith's method of handling this situation because Faith has followed the internal control principle of assignment of responsibility by making one employee responsible for the cash drawer and followed the internal control principle of segregation of duties (preparing the orders) from the accounting (taking orders and payments).

c.       I disagree with Faith's method of handling this situation because Faith has not followed the internal control principle of segregation of duties. It is true that faith has made one employee responsible however after cash counting another employee or Faith himself remove the cash register tape and compare the balance with cash drawer for effective internal control. Also, Faith’s standard of no mistakes may encourage the cashiers to overcharge a few customers in order to cover any possible shortages in the cash drawer.

6 0
3 years ago
Than Wok emigrated from his war-torn country to the United States almost two years ago. He recently found a job working on an as
igor_vitrenko [27]

Answer:

C.social needs.

Explanation:

Maslow's hierarchy of needs is a motivational theory that goes through five forms of needs set out below:

1. Physiological needs: These are the survival needs i.e. food, clothing, house, air

2. Security needs: This need covers human, financial, etc. protection and security

3. Social needs: These needs represent an person being or not involved in social groups. It makes the person not feel alone, lonely, etc.

4. Awareness needs: Awareness needs are the recognition he or she receives

5. Self-actualization needs: As the name suggests, it is self-actualizing in order to let the person know about his or her abilities.

So according to the given options, the most appropriate option is C. as it shows the social needs i.e loneliness, alone, etc

4 0
3 years ago
"when acquiring and integrating it systems, senior it professionals must pay attention to the business value of it because…"
Rom4ik [11]
<span>When acquring and integrating IT systems, senior professional must pay attention to the business value of it because most companies today cannot afford to invest in IT systems unless they serve the purpose to increase the equity of the company as well. If senior professionals do not pay attention to the details of the monetary value of acquring and/or integrating IT systems, no one else will. It is imperative that senior professional take this task very seriously.</span>
3 0
3 years ago
A sneaker manufacturing company targets teenagers. It sells the sneakers to these teenagers at a price which is lower than what
sladkih [1.3K]

Answer:

The correct answer is a. best-cost.

Explanation:

A best-cost strategy means palpable relief to the buyer, and is carried out under a series of characteristics that vary according to the product or service offered. In it, some functions that generate important values are sacrificed in order to offer a quality / service experience, which allows us to differentiate ourselves from the competition and thus be benchmarks in the sector. The statement shows a company that charges the design to the final buyer, which allows them to save costs in this area.

7 0
3 years ago
Edelman Engines has $18 billion in total assets — of which cash and equivalents total $120 million. Its balance sheet shows $2.7
Levart [38]

Answer:

Market/Book Ratio = 1.92 times

EV/EBITDA = 13.65 times

Explanation:

As for the information provided,

EBITDA = $1.794 billion

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Share price per share = $46

Therefore, market value of common equity = $46 \times 300 million

= $13.8 billion

Therefore, market/book ratio = $13.8 billion/$7.2 billion

= 1.9167 times

EV represents enterprise value which is the market value of equity + total debt - cash and cash equivalents

= $13.8 billion + $8.1 billion + $2.7 billion - 0.120 billion

= $24.48 billion

EV/EBITDA = $24.48 billion/$1.794 billion = 13.65 times

4 0
3 years ago
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