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zhenek [66]
3 years ago
10

A company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September

30 inventory is $25,000. If the December 31 inventory is targeted at $7,500, budgeted purchases for the fourth quarter should be: (Show work on test paper or separate scanned submission.)
Business
1 answer:
nlexa [21]3 years ago
6 0

Answer:

Purchases=  $57,530

Explanation:

Giving the following formula:

Production= 91,500*(1 - 0.18)= $75,030

Beginning inventory= $25,000

Desired ending inventory= $7,500

<u>To calculate the budgeted purchases, we need to use the following formula:</u>

<u></u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= 75,030 + 7,500 - 25,000

Purchases=  $57,530

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When the proportion of the total assets to equities ratio increases, it is an indication that the company is less dependent on the debts of creditors.

<h3>What is assets to equity ratio?</h3>

The assets to equity ratio represents the number of assets earned by an organization with the use of debt resources. If such ratio increases, the use of debts is lowered by the company.

An increase in the assets to equity ratio also indicates that the company is operating at very low risks of losing money, acquired through debt mode.

Hence, option B holds true regarding the assets to equity ratio.

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6 0
2 years ago
Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2021, for $4.1 million. The patent will b
Artemon [7]

Answer:

the patent amortization expense for the year 2021 is $231,000

Explanation:

The computation of the patent amortization is shown below:

= (Acquired value of the patent - ending value) ÷ legal life

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We simply applied the above formula so that the correct value could come

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7 0
3 years ago
Which of the following most likely would be the result of ineffective internal control in the revenue cycle? Fraud in recording
tiny-mole [99]

Answer:

The correct answer is Final authorization of credit memos by personnel in the sales department could permit an employee defalcation scheme.

Explanation:

Having control of the credit notes is very important for the company, as if it were any other accounting document.

The credit note in accounting is the document that is made in order to cancel the invoices because the law establishes that the invoices made cannot be eliminated under any circumstance, so when an invoice has an error, this voucher is created for the value of the invoice in negative.

The realization of this proof of purchase must be in the hands of the sellers or the company that provides the service or markets a product: and will be addressed to the customer who requested return or changes of the invoice.

3 0
4 years ago
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Nastasia [14]
<h2>All the above (option D)</h2>

Explanation:

Business environment:

It is a collection of owners, customers needs and expectations, market trends, employees,  supply and demand, suppliers, management, clients, activities by government, innovation in technology, social trends, economic changes,

Government environments:

Overall activities conducted towards the growth of the nation.

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An environment where the citizens stands and stays in the border to protect their own nations from enemies and rivalries. The team works and ready to stay in any kind of environment.

8 0
3 years ago
_________ blends Japanese and American management practices into a hybrid approach which calls for long-term employment, collect
OverLord2011 [107]

Answer:

theory a

Explanation:

7 0
3 years ago
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