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ycow [4]
3 years ago
15

Pilet Pte Ltd balance sheet reflected assets of 10,000, liabilities of 5,000 and share capital of 2,000 as of December 31,2009.

If retained earnings on December 31, 2010 balance sheet is 8,000 and Pilet paid a 2,000 dividend during 2010, then the amount of net income in 2010 would be
(a) $1,000
(b) $7,000
(c) $5,000
(d) None of the above
Business
1 answer:
stellarik [79]3 years ago
8 0

Answer:

(b) $7,000

Explanation:

retained earnings December 31, 2009 = $10,000 - $5,000 - $2,000 = $3,000

retained earnings December 31, 2010 = $8,000

dividends distributed during 2010 = $2,000

net income = ending retained earnings + dividends - beginning retained earnings = $8,000 + $2,000 - $3,000 = $7,000

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Answer:

The company's cash conversion cycle is 75 days

Explanation:

The conversion cycle is the number of days that a business takes to convert its investment in inventory into cash flowing from the purchase and sales of the business.

Conversion cycle = Payable days + Inventory in Stock days + Receivable days

where

Payable days = Purchases term  = 30 days

Inventory in stock = Number of days until inventory remains unsold = 60 - 30 days = 30 days ( As payable days are already included in inventory conversion days )

Receivable days = Sales term = 15 days

Placing values in the formula

Conversion cycle = 30 days + 30 days + 15 days

Conversion Cycle = 75 days

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3 years ago
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