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Novosadov [1.4K]
3 years ago
7

Crane Corporation's computation of cost of goods sold is:

Business
1 answer:
slava [35]3 years ago
5 0

Answer:

16.64 days

Explanation:

Given the above information, we will calculate the average days to sell inventories with the formula below;

Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100

Ending inventory = $72,000

Cost of goods sold = $432,800

Then, Average days to sell inventories

= [$72,000 / $432,800] × 100

= 16.64 days

Therefore, the average days to sell inventory for Fry are 16.64 days

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In what IT pathway would you most likely need to be familiar with the system development life cycle?
stealth61 [152]
Hello
the answer is b
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8 0
3 years ago
Read 2 more answers
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $25,000. The estimated useful life was
tatiyna

Answer:

The correct answer is Double-declining-balance.  The highest net income in year 2 is 6000.

This higher net income don´t mean the machine was used more efficiently under this depreciation method.

Explanation:

In the file attached you will find a depreciation schedule for each of the alternative methods.  

Each method need different calculus.  

Straight-line

depreciation expense=(Original Value  -Residual Value)/Useful life=

depreciation expense=4400

Units-of-production

estimated productive life  10000

Units of Production Rate=(Original Value  -Residual Value)/estimated productive life=2,2

Double-declining-balance.

Depreciation rate = 1/useful life *100= 20,00%

Download xlsx
4 0
3 years ago
Swifty Pest Control Products has the following information available:
Mekhanik [1.2K]

Answer:

$20,700

Explanation:

Data provided in the question:

Net Income = $25,100

Cash Provided by Operations = $32,500

Cash Sales = $64,600

Capital Expenditures = $9,600

Dividends Paid = $2,200

Now,

Swifty’ Free cash flow

= Cash Provided by Operations - Capital Expenditures - Dividends Paid

Thus,

Swifty’ Free cash flow  = $32,500  - $9,600  - $2,200

or

Swifty’ Free cash flow  = $20,700

3 0
3 years ago
The board of directors of Benson Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15
Helga [31]

Answer:

D. Debit to Dividends Payable.

Explanation:

The first thing we have to keep in mind is that dividends are liabilities, that is, they represent cash outflows for the corporation. In the example, we can distinguish two moments: the declaration of a cash dividend and its effective distribution. Next, we will analyze them from an accounting point of view:

  • On July 15, 2014, Benson Company declared a cash dividend. In accounting terms, on that day the “Retained Earnings” account was debited. Remember that this account is the one that records the profits that the company has obtained to date. So, what was done was to <em>subtract</em> that part that is to be distributed among stockholders. This amount is then transferred to a current liability account called “Dividends Payable”. In this case, money was <em>added</em>, therefore, the account was credited.

  • On August 15 dividends were distributed. That day, the "Dividends Payable" account was debited, or, in other words, its money was <em>discounted</em>, because it is now in the hands of shareholders.
8 0
3 years ago
Company X had net income of $200,000 in the year 2016. At the beginning of 2016, there were 500,000 shares of outstanding common
EleoNora [17]

Answer:

Basic earning per share $0.21 per share

Explanation:

Basic Earning per share = ( Net Income - Preferred stock dividend ) / Weighted Average outstanding shares

Basic Earning per share = ( $200,000 - $50,000 ) / 700,000

Basic Earning per share = $150,000 / 700,000

Basic Earning per share = $0.2143 / share

Weighted average Outstanding shares = 500,000 + 200,000

Weighted average Outstanding shares = 700,000 shares

5 0
3 years ago
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