Answer:
$723,000
Explanation:
Calculation to determine what was Jennings reported net income in 2020
Using this formula
2020 Net income=(2019 Retained earnings-2020 Retained earnings)+ Total Dividend
Let Plug in the formula
2020 Net income=($2,681,000-$2,308,000)+$350,000
2020 Net income=$373,000+$350,000
2020 Net income=$723,000
Therefore Jennings reported net income in 2020 is $723,000
Answer:
<u>Details April May June </u>
Unit to be produced 576 630 608
Explanation:
The production budget For April, May, and June can be prepared as follows:
Ruiz Co.
Production Budget
For April, May, and June
<u>Details April May June </u>
Next month's budgeted sales (A) 640 590 680
Ratio of inventory to future sales (B) 20% 20% 20%
Budgeted ending inventory (C = A * B) 128 118 136
Budgeted unit sales for month (D) 560 640 590
Req'd units of avail. production (E = C + D) 688 758 726
Budgeted beginning inventory (F) 112 128 118
Unit to be produced (G = E - F) 576 630 608
Answer:
In forecasting accounts payable, one of the relevant questions is:
What is the cash conversion cycle?
Explanation:
The variables used in computing the cash conversion cycle include accounts receivable days, inventory turnover days, and accounts payable days. Specifically, cash conversion cycle (CCC) is the period in days that it takes the firm to convert cash into inventory, then into sales, and finally back into cash. To gain a good understanding of accounts payable, one should always consider the major inclusive metric.
Answer: 9.20
Explanation:
In finance there is a rule for calculating this called 'The Rule of 70'.
With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.
In this scenario, the investment is your salary and the growth rate is 7.61% pee year.
The amount of time it will take to double is therefore,
= 70 / 7.61
= 9.19842312746
= 9.20 years.
It will take 9.20 years to double.
