The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco

What is the primary reason that the owner of the restaurant wants a new accounting system?

oksian1 [2.3K]

Answer:

The answer is stated below:

Explanation:

The primary and the foremost reason that the restaurant owner wants to have a new system of the accounting because the owner wants to keep the track of how the restaurant is doing daily.

So, the owner wants the system which could track all the inventory as well as the expenses in a way which is more efficient. The owner wants to able to see the week by week statements of the how the company is performing.

The owners wants to keep the track of the bills and wants the system which could record the receipt and the cash register tapes.

4 0

3 years ago

Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakl

IRINA_888 [86]

Answer:

1. 2.69 times

2. 135.70 days

Explanation:

The computation of inventory turnover is shown below:-

Inventory Turnover Ratio = Cost of Goods Sold ÷ Average Inventory

Average Inventory = Opening inventory + Closing Inventory ÷ 2

= ($109,841 + $150,221) ÷ 2

= $130,031

Inventory Turnover Ratio = $349,744 ÷ $130,031

= 2.69 times

The computation of days in inventory is shown below:-

Days in Inventory = Average Inventory ÷ Cost of Goods Sold × 365

= $130,031 ÷ $349,744 × 365

= 135.70 days

4 0

3 years ago

Tamarisk Inc. had a beginning inventory of $11,700 at cost and $18,200 at retail. Net purchases were $132,188 at cost and $183,7

Agata [3.3K]

Answer: $47,736

Explanation:

GIVEN THE FOLLOWING ;

beginning inventory = $11,700 at cost

Beginning inventory =$18,200 at retail.

Net purchases= $132,188 at cost

Net purchases =$183,700 at retail

Net markups = $9,700

Net markdowns = $6,600

Sales revenue = $134,800.

Ending inventory at cost using conventional retail method ;

Cost total = beginning inventory at cost + net purchases at cost

Cost total = $(11,700 + 132,188) = $143,888

Retail total (after net markups) = beginning inventory at retail + net purchases at retail + net markups

$(18,200+183,700+9700) = $211,600

Cost-to-retail ratio ;

$(143,888 ÷ 211,600) = 0.68 = 68%

Ending inventory at retail :

$211,600-(net markdowns + sales revenue)

$211,600 - $(6600+134800)

$211,600 - $141,400 = $70,200

Ending inventory at cost = 0.68 × $70,200 = $47,736

7 0

3 years ago

Kelly and Lon are married and own a hunting lodge in Montana in such a way that neither may transfer separately his or her inter

Lina20 [59]

Answer:

c. tenants by the entirety.

Explanation:

-Community property owners means that a property owned by a married couple is divided equally.

-Joint tenants is an agreement in which two people own a property with the same rights and obligations.

-Tenants by the entirety is an arrangement in which a married couple own a property and the husband or the wife can't sell it without the consent of the other.

-Tenants in common is an agreement in which two or more people own a property and they can have different percentages.

According to this, Kelly and Lon own the lodge as tenants by the entirety.

3 0

3 years ago

Jane has a weekly budget of $50 to spend on fruit and vegetables. She decides to buy 4 pounds of fruit at a cost of $5/lb. She s

kari74 [83]

Answer:

Jane spends $6/lb for the vegetables.

Explanation:

Multiply the number of pounds of fruit she bought and the cost for each pound. That would mean 4 times 5 which equals 20. Subtract 20 from 50 because that shows you how much money she had left. Divide the number of money she has left with the amount of pounds she bought. 30 divided by 5 gives you your final answer of $6 per pound.

5 0

3 years ago

The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco​

The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco