Answer:
72 days
Explanation:
The computation of the accounts payable turnover ratio is shown below:
Accounts payable turnover ratio = Total Purchases ÷ Average Accounts payable
As we know that
Cost of goods sold = Beginning inventory + total purchases - Ending inventory
i.e
Total Purchases = Cost of goods sold + Ending Inventory – Beginning Inventory
= $550,000 + $101,000 - $120,000
= $531,000
So, the account payable turnover ratio is
= $531,000 ÷ $105,000
= 5.06 times
Now in days it is
= 365 days ÷ 5.06 times
= 72 days
Answer: a. increased paperwork at every step of the shipping process.
Explanation:
There is no excerpt attached but this should be the answer.
Having five different factories in China means that Holden Outwear would have to transport things to and fro all five factories including raw materials, intermediate goods and finished goods.
This represents a lot of shipping and shipping comes with paperwork. It would therefore be no surprise if the Holden Outwear is having to go through the bane of increased paperwork for manufacturing at five different factories.
<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>
Answer:
See explanation section
Explanation:
See the images to get the answer
Answer:
Debit Petty Cash $250; credit Cash $250
Explanation:
Based on the information given we were told that the Company establishes the amount of $250 as a petty cash fund on September 1 which means that The journal entry to record the establishment of the fund on September 1 is:
Debit Petty Cash $250
Credit Cash $250
