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
ikadub [295]
2 years ago
7

A sector fund specializing in commercial bank stocks had average daily assets of $3.7 billion during the year. This fund sold $1

.58 billion worth of stock during the year, and its turnover ratio was .42. How much stock did this mutual fund purchase during the year
Business
1 answer:
Alex_Xolod [135]2 years ago
7 0

Answer:

$1.554 billion

Explanation:

Turnover Ratio = Purchases / Average Inventory

0.42 = Purchases / $3.7 billion

Purchases = $3.7 billion * 0.42

Purchases = $1.554 billion

So, the value of stock that the mutual fund purchase during the year is $1.554 billion

You might be interested in
Ou buy 6 pounds of apples for $33. what is the cost of 10 pounds of apples?
KiRa [710]
Each pound of apple would be $5.50. you get that by dividing 33 by 6. so $5.50 by 10 pounds is $55
3 0
3 years ago
Kumar Inc. uses a perpetual inventory system. At January 1, 2020, inventory was $214,000,000 at both cost and realizable value.
MAVERICK [17]

Answer:

A. Dr Cost of Goods Sold $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

B. Dr Loss Due to Market Decline of Inventory $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

Explanation:

A.Preparation of the necessary December 31 entry under the cost-of-goods-sold method

COST-OF-GOODS-SOLD METHOD

Dr Cost of Goods Sold $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

($286,000,000 - $265,000,000)

B.Preparation of the necessary December 31 entry under the Loss method

LOSS METHOD

Dr Loss Due to Market Decline of Inventory $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

($286,000,000 - $265,000,000)

7 0
3 years ago
(Life-Cycle Hypothesis) According to the life-cycle hypothesis, what is the typical pattern of saving and spending for an indivi
hammer [34]

Answer & Explanation:

Modiglani's Life cycle Hypothesis depicts spending & consumption pattern of people, in order to stabilise / or smoothen their consumprtion. The theory has following phases :

  • Early (Non Working) Age, Low Income stage : Borrowings are done, to cover up for lack of income that yields desirable stable consumption level.
  • Youth, Earning (Working) Age : Savings are done, through surplus of income level over desirable stable consumption level.
  • Old, Post retirement (Non working age) : Dissavings are done, funds from previous savings are used to cover for lack of income that yields desirable stable consumption level.

Implication rate for entire economy saving rate : It implies that economy's savings rate is high, if more population comprises of middle aged working population.

7 0
2 years ago
Suppose during the course of a year an economy produces $7 trillion of consumer goods, $1 trillion of investment goods, $5 trill
In-s [12.5K]

Answer:

D) $12 trillion.

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption + Investment + Government Spending + Net Export

Net Export = Export - Import

Net Export = $1 - $2 = -$1

GDP = $7 + $1 + $5 - $1 = $12

All calculations are in trillion

I hope my answer helps you.

4 0
3 years ago
If we are covering labor and overhead costs of an item in a Managerial Accounting course, we are referring to which concepts?
Umnica [9.8K]

Answer: D. Manufacturing cost

Explanation:

Manufacturing costs include all costs related to the production of a good. This includes direct costs such as direct labor and material and also manufacturing overheads such as assembly line manager salary.

When talking about both labor and overhead costs in relation to a good in managerial accounting, the relevant concept is therefore manufacturing costs as it envelops the two terms.

6 0
2 years ago
Other questions:
  • Shen purchased corporate stock for $20,000 on april 10, 2015. on july 14, 2017, when the stock was worth $12,000, shen died and
    10·1 answer
  • 16. Which Response core capability involves ensuring the capacity for timely communications in support of security, situational
    9·1 answer
  • UPS calculates that a driver will drive approximately 140 miles on an assigned route.​ However, recognizing that the driver may
    15·1 answer
  • Tore Company's records reveal the following information regarding its inventory. Beginning inventory was $100,000 at cost and 16
    14·1 answer
  • A $200,000 4 year bond was issued for $210,000. The semi-annual amortization of the bond premium using the straight-line method
    13·1 answer
  • Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per
    9·1 answer
  • Verslas is a firm operating in a monopolistically competitive market. It is currently maximizing profit with an output of 1,200
    7·1 answer
  • The pattern for credit receivables collections are 60% month of sale, 30% month after sale and 10%second month after sale. What
    5·1 answer
  • What is used to calculate the cost of living index
    9·1 answer
  • Describe two rights and two reposibilities as an employer
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!