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slamgirl [31]
2 years ago
12

Condensed financial data are presented below for the Phoenix Corporation:

Business
1 answer:
Solnce55 [7]2 years ago
5 0

Answer:

Part 1.

3.1 times

Part 2.

a. total assets

Part 3

d. the company's ability to generate sufficient cash to repay debt when due.

Explanation:

<u>For Part 1</u>

Inventory turnover measures the activity of liquidity of a company`s inventory. The higher the ratio in comparison, the more efficient the inventory is managed.

<em>Inventory turnover = Cost of Sales ÷ Inventory</em>

therefore,

Inventory turnover = $982,500 ÷ $ 312,500 = 3.1 times

<u>For Part 2</u>

In a common-size Balance Sheet, each item is expressed as a percentage of total assets whereas in a common size Income Statement, Sales revenue is expressed as 100 % and every other item is expressed as a percentage of sales revenue.

<u>For Part 3</u>

Solvency or Liquidity is the ability of short term assets to cover short term liabilities. Also put, it is  the company's ability to generate sufficient cash to repay debt when due.

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The Jacksonville Jaguars sell season tickets to NFL football games. There are 10 home games during the season, which runs from A
PIT_PIT [208]

Answer: Deferred income which must be a liability accounts.

Explanation:

Revenue earned on a service is recognised when the service has been performed, it's probable that economic benefits of the services will be enjoyed by the client, the price of the services can be measured reasonably, cost Incurred on the performance of the services can be measured reasonably.

On the above scenario the services has not been perform, the cost of performance cannot be measured, these and more shows that Jaguar cannot recognize the sum as an income but rather as a deferred income(liabilities) which will later be transferred to income accounts as the necessary conditions for recognition as income are met.

8 0
3 years ago
If a homeowner wants to sell his property to an adult child for $1, may a sales agent be involved in that transaction?
Umnica [9.8K]

Answer:

Of course a sales agent can be involved, although they will probably charge a fixed amount and not a sales percentage. Many people probably need the help of a sales agent to fill out legal forms, including contracts, etc. Not everyone has the knowledge to prepare them or simply fill them out, and a sales agent can be helpful.

7 0
2 years ago
Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling p
damaskus [11]

Answer:

The correct answer is letter "A": Resource scarcity.

Explanation:

Resource scarcity is the basic economic problem by which individuals have unlimited wants and needs but rely on limited sources to fulfill them. Because of this situation, individuals have to trade-off the satisfaction of part of some needs so others can be satisfied as well.

In the example, <em>the scarce resource is the milk that is useful to produce cheese for the pizzas sold in Wisbane.</em>

4 0
3 years ago
Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Co
Vesnalui [34]

Answer:

1. 120 hot dogs per day

2. $1,920

3. Inelastic

4.200

Explanation:

1. Break even is a term given to a situation where there is no profit or loss made by an organization for product sales.

Formula is;

Fixed cost /contribution per unit, where contribution per unit is selling price - variable price.

Solution.

Since Total fixed cost =$1,200, Selling price=$16, Variable costs=$6

=Fixed costs/(Selling price - Variable costs).

= $1,200/($16 - $6)

=$1,200/$10

=120 hot dogs.

2. Break even point in dollar sales volume. This refers to the number of products that would be produced and sold to cover production cost.

Formular is ;

Fixed cost/contribution per unit× Sales price per unit.

Solution

=Fixed costs/(Selling price - Variable costs)× Selling price.

=$1,200/($16 - $6)×$16

=$1,200/$10×$16

=$1,200×$16/$10

=$19,200/$10

=$1,920

3. The demand would be inelastic. Inelastic demand is when the demand of buyers does not change as much as changes in price.

4. Achieve level of sales target. This is when management wanted to know the sales level at which targeted profit will be achieved.

Formula

Fixed costs + Target profit/Contribution per unit

Solution.

=Fixed costs + Target profit/(Selling Price - Variable costs)

= $1,200 + $800/($16-$6)

=$1,200 + $800/($10)

=$2,000×/$10

=$200

=200 cases would needed to sell

6 0
3 years ago
Mains Corporation owns equipment with a cost of $290,000 and accumulated depreciation at December 31, 2014 of $150,000. It is es
Firlakuza [10]

Answer:

(a)$0

Explanation:

Since the book value is less than the generated future cash flows so there would not be any loss on impairment of the asset

The book value is computed below

= Owns value - accumulated depreciation

= $290,000 - $150,000

= $140,000

The book value is $140,000 and the generated cash flows are $165,000. So, no value would be recognized

5 0
3 years ago
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