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Semenov [28]
2 years ago
8

Use General Mills financial statements to answer questions in this section. All answers should be for the most recent fiscal yea

r unless otherwise stated. For all questions in this section, enter all numbers exactly as they appear in the financial statements. This includes intermediate calculations. If it is stated as a decimal in the financials, use the same decimal in your answer. Answer without dollar signs and other symbols.
Business
1 answer:
Firdavs [7]2 years ago
3 0

Answer:

27.4 days

Explanation:

Accounts receivable turnover days :

365 / Receivable turnover ratio

Receivable turnover ratio :

Sales / Average accounts receivables

12,442,000,000 / 932,500,000 = 13.34

Account receivable turnover days :

365 / 13.34 = 27.4 days

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A business issued a 90-day, 9% note for $70,000 to a creditor on account. Illustrate the effects on the accounts and financial s
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Answer:

The computation is shown below:

Explanation:

The journal entries are shown below:

a. Account payable $70,000

           To Notes payable $70,000

(Being the issuance of the note is recorded)

b. Note payable $70,000

  Interest expense $1,575

              To Cash $71,575

(Being the payment of the note at maturity date including interest is recorded)

The computation is shown below:

= $70,000 × 9% × 90 days ÷ 360 days

= $1,575

We assume 360 days in a year

Now the effects on the accounts and the financing statement for issuance of the note is shown below:

Balance sheet

Assets          =   Liabilities   + Stockholder equity    Income statement  cash flow statement

No effect = Account payable - $52,000 + No effect  No effect + no effect

                   Note payable + $52,000      

7 0
3 years ago
Which loan type provides interest subsidy meaning department of education pays your interest while.
zlopas [31]

Subsidized direct loan provides interest subsidy meaning department of education pays your interest while.

<h3>What is loan?</h3>

The term loan refers to a type of credit vehicle in which a sum of money is lent to another party in exchange for future repayment of the value or principal amount. In many cases, the lender also adds interest and/or finance charges to the principal value which the borrower must repay in addition to the principal balance. Loans come in many different forms. There are a number of factors that can differentiate the costs associated with them along with their contractual terms. Interest rates have a significant effect on loans and the ultimate cost to the borrower. Loans with higher interest rates have higher monthly payments or take longer to pay off than loans with lower interest rates.

Learn more about loan, refer:

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5 0
1 year ago
All quality social media creation for a business has some cost attached to it, therefore business managers have many factors the
BartSMP [9]

Answer: media share site

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6 0
3 years ago
Using notes outside of given key to produce heightened color is referred to as
Yanka [14]

Using notes outside of a given key to produce heightened color is referred to as  "chromaticism".



Chromaticism, in music, the utilization of notes unfamiliar to the mode or diatonic scale whereupon an organization is based.  


Chromatic tones in Western craftsmanship music are the notes in an organization that are outside the seven-note diatonic (i.e., major and minor) scales and modes. On the piano console, the dark keys speak to the 5 chromatic tones that don't have a place with the diatonic size of C real; high contrast keys together mean the chromatic size of 12 tones for every octave.

6 0
3 years ago
Read 2 more answers
How many district courts are in the federal system?.
posledela
Answer 94 districts.

In the federal court system's present form, 94 district level trial courts and 13 courts of appeals sit below the Supreme Court.
8 0
2 years ago
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