Answer: The correct answer is to safeguard the inventory and reporting the inventory on the financial statements.
Explanation: One of the primary objectives of control over inventory is to safeguard the inventory from damage or theft. The second objective is to report the inventory on the financial statements.
Chapter 7 bankruptcy is a type of bankruptcy that requires the liquidation of most of the debtor's assets. It is the most common of the bankruptcy were may debts are forgiven and a variety of assets are sold, Chapter 7 bankruptcy is favored by individuals. Under of this bankruptcy, the debtor's assets are sold off to pay the lenders.
Answer:
Growth Rate = 5.73%
Explanation:
The present value of stock formula can be used here to solve this problem.
The formula is:
Where
is the current stock price
is the dividend to be paid next year
r is the rate of return required
g is the growth rate expected
Now, the first 3 variables are given, we need to find g. Substituting, we find our answer:
In percentage, it is
<u>Growth Rate = 5.73%</u>
Answer:
d) $2,377 millions.
Explanation:
Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.
In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.
Therefore,
Total Assets Calculation :
$ millions
Accounts receivable-trade 699
Building and equipment 930
Cash-checking 40
Interest receivable 34
Inventory 25
Land 166
Notes receivable (long-term) 484
Petty cash fund 7
Prepaid rent 28
Supplies 8
Trademark 49
Accumulated depreciation (75)
Allowance for uncollectible accounts (18)
Total Assets 2,377
Answer:
The answer is General Forge and Foundry Company selling and replacing its inventory 2.55 times per year on average.
Explanation:
We have:
The company cost of good sold = Sales x 65% = 100,000 x 65% = $65,000
The company inventory = Total current asset - Cash - Account Receivable = 85,000 - 38,250 - 21,250 = $25,500
=> Inventory turn over ratio = Cost of good sold / Inventory = 65,000/25,500 = 2.55 times or the company is selling and replacing its inventory 2.55 times per year.
So, the answer is 2.55 times.
