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ipn [44]
3 years ago
5

Data from Estrin Corporation's most recent balance sheet and income statement appear below: This Year Last Year Accounts receiva

ble $ 109,000 $ 106,000 Inventory $ 139,000 $ 158,000 Sales on account $ 787,000 Cost of goods sold $ 501,000 The average sale period for this year is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice 45 days 50 days 101 days 108 days
Business
1 answer:
jekas [21]3 years ago
8 0

Answer:

d. 108 days

Explanation:

Average Inventory = (Beginning balance + Ending balance) / 2

Average Inventory = ($139,000 + $158,000) / 2

Average Inventory = $297,000 / 2

Average Inventory = $148,500

Inventory Turnover ratio = Cost of goods sold / Average Inventory

Inventory Turnover ratio =  $501,000 / $148,500

Inventory Turnover ratio = 3.37 times

Average days to sell inventory = Days in a year / Inventory Turnover ratio

Average days to sell inventory = 365 days / 3.37 times

Average days to sell inventory = 108.31 days

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Read the scenario. Brad has a steady job, earns a solid income, and plans to live in a nearby city for the long term. He is look
Bogdan [553]
Buying both a car and a home.
8 0
3 years ago
Read 2 more answers
Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 years) and has a utility
Harlamova29_29 [7]

Answer:

2 Days

Explanation:

First, there is the need to rewrite the utility function for clarity

U=V^{1/2}

1. The Probability of Falling ill by someone in the family is given as 20%

2. If someone should fall ill, the total number of days that would be spoiled is calculated as:

Total number of vacation= 10 days x Probability to fall ill = 20%

= 10 x 0.2 = 2 days

This means if someone should fall ill based on the probability, then 2 out of the total 10 days can be ruined

3. The number of days for vacation days to enjoy is 10-2 = 8 days

This means if the family gives up 2 days of probable illness, they can still enjoy their vacation.

V= 2 days

5 0
3 years ago
"The time horizon to be used when constructing a portfolio to pay for college expenses for a person who is expected to start col
Karolina [17]

Answer:

15 years

Explanation:

If you are constructing a portfolio to cover the education expenses of your child and you expect that he/she graduates from college in 15 years, then the time horizon of your portfolio should be 15 years since it should cover all the expenses until your child graduates. If you start a little earlier and expect your child to graduate in 20 years, the time horizon will be 20 years, or if you start a little later and expect your child to graduate in 10 year, then the time horizon is 10 years.

7 0
3 years ago
Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; lan
Irina18 [472]

Answer:

1.Land $163,478

Land Improvement $54,493

Building $145,314

2.Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

Explanation:

1. Calculation to Allocate the total cost among the three assets

First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000

Total Expenditure costs =$440,000

Second step is to divide each expenditure up by the total amount

Land=($198,000/$440,000= 0.45)

Land improvement=($66,000/$440,000= 0.15)

Building=($176,000/$440,000= 0.40)

Now let Allocate the total cost among the three assets

Land=0.45* $363,285

Land = $163,478

Land improvement=0.15*$363,285

Land Improvement=$54,493

Building=0.40*$363,285

Building=$145,314

Total $363,285

($163,478+$54,493+$145,314)

Therefore the total allocation cost among the three assets is:

Land $163,478

Land Improvement $54,493

Building $145,314

2. Preparation of the journal entry to record the purchase

Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

(To record purchase)

3 0
3 years ago
Royal Dutch Shell(RDS) acquires ethanol fuel from Brazilian Cosan energy company. The Ethanol costs 500 million Brazilian Real(B
Fudgin [204]

Answer:

The answer is 5000 future contracts

Explanation:

Solution

Given that:

Royal Dutch buys ethanol fuel from Brazilian energy company

Nowm,

The Required coverage = 500,000,000

The BRL/USD futures contract size = 100,000

Number of contracts required = 500,000,000/100,000

So,

= 500,000,000/100,000  = 5000

Therefore, the optimal number of BRL/USD futures contracts for Shell to take to receive the entire amount of Real at delivery is 5000

3 0
3 years ago
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