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3 years ago

Selected financial data for Quick Sell, Inc., a retail store, appear as follows.

Business

1 answer:

blagie [28]3 years ago

8 0

Answer:

a-1

Year 2 34%

Year 1 33%

a-2

Year 2 4.5

Year 1 4.0

a-3

Year 2 5.0

Year 1 6.1

b. Year 2

Explanation:

a-1. Computation for the gross profit percentage for both years using this formula

Gross profit percentage = Gross profit / Sales

Let plug in the formula

Year 2 =( $ 750,000-495,000)/$ 750,000 = 34%

Year 1 = ($ 610,000-$408,000)/$ 610,000 = 33%

a-2. Computation for the inventory turnover for both years using this formula

Inventory turnover = Cost of goods sold / Average inventory during the year

Let plug in the formula

Year 2 = 495,000 /110,000 = 4.5

Year 1 = 408,000/102,000= 4.0

a-3. Computation for the accounts receivable turnover for both years using this formula

Accounts receivable turnover = Sales (on account) / Average receivables during the year

Let plug in the formula

Year 2 = $ 750,000 /150,000 = 5.0

Year 1 = $ 610,000 /100,000 = 6.1

b. Based on the above calculation Year 2 show a positive trend.

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Unadjusted net income equals $ 8,500. Calculate what net income will be after the following adjustments:

Amanda [17]

Answer:

adjusted net income 8,555

Explanation:

unadjusted net income 8,500

earned revenue 900

salaries expense (550)

interest expense (90)

supplies expense <u> (205) </u>

adjusted net income 8,555

The salries are considered expense,

the interest due are the interest accrued in a note payable

the supplies used are the supplies expense

the unearned revenue beomes earned through time adn by, providing services. It increase the total reveneu for the period.

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4 years ago

You decide to invest in a portfolio consisting of 15 percent Stock X, 51 percent Stock Y, and the remainder in Stock Z. Based on

Alinara [238K]

Answer:

5.70%

Explanation:

Stock return for Normal state of economy

= 0.15 × 10.9 + 0.51 × 4.3 + 0.34 × 13.3

= 8.35%

Stock return for Boom state of economy

= 0.15 × 18.2 + 0.51 × 26.2 + 0.34 × 17.7

= 22.11%

Weighted average return

= 0.78 × 8.35 + 0.22 × 22.11

= 11.38%

Standard deviation = Normal probability state of economy × (Stock return for Normal state of economy - Weighted average return)^number of years + Boom probability state of economy × (Stock return for Boom state of economy - Weighted average return)^number of years)^percentage

= 0.78 × (8.35 - 11.38)^2 + 0.22 × (22.11 - 11.38)^2)^0.5

= 5.70%

6 0

3 years ago

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15 % APR, compound

kykrilka [37]

Answer:

Credit card

Explanation:

The formula for computing the APR is shown below:

= (1 + interest rate)^time period - 1

For monthly, it is

= (1 + 15% ÷ 12 months)^12 - 1

= (1 + 0.0125 )^12 -1

= 16.080000%

Now for the APR for 6 months is

= (1 + 16% ÷ 2 months)^2 -1

= 16.640000%

The rate that is given 8% is doubles i.e 16% and the computation is same as before

As we can see that credit card contain the lower rate i.e 16.08% as compare to the money borrowed from the parents

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3 years ago

Which type of agreement assures that a broker will receive compensation regardless of who procures the buyer?a. Net listingb. Ex

natita [175]

Answer:

b. Exclusive right to sell

Explanation:

-Net listing is when the agent is able to keep the difference when a property is sold for more than the asking price.

-Exclusive right to sell is when the seller gives the agent the right to market the property and accepts to pay the comission to the agent if the property is sold during the period of the listing.

-Open listing is when a property has different agents and the one that gets the buyer receives the comission.

-Exclusive agency is when the seller gives an agent the right to market a property but the seller is able to sell the property to a buyer that was not found by the agent and in that case, the seller doesn't have to pay the comission to the agent.

According to this, the answer is that the type of agreement that assures that a broker will receive compensation regardless of who procures the buyer is exclusive right to sell because the agent is granted the right to sell the property and the seller agrees to pay the comission if the property is sold during the time of the listing last and it doesn't matter who finds the buyer.

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4 years ago

You are the ceo of a multi-million dollar merchandising company. One of your product managers has informed you that the chairman

saul85 [17]

I would ask what is wrong with our current packaging? Why are we making revisions?
Also, what gain would be brought to the table with this new packaging?

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4 years ago