All categories

3 years ago

Consider the following financial statement information for the Hop Corporation:

Business

1 answer:

EastWind [94]3 years ago

7 0

Answer: Operating cycle = 84.70 days

Cash cycle = 41 days

Explanation:

Beginning inventory = $11,100

Ending Inventory = $12,100

Average inventory = ($11100 + $12100)/2 = 11600

Average Accounts receivable = (6,100 + 6,400)/2 = 6250

Average Accounts payable = (8,300 + 8,700)/2 = 8500

Day sales in inventory = Average inventory × 365 / Cost of goods sold

= 11600 × 365 / 71000 = 59.63 days

Average collection period = Average receivable × 365 / Credit sales

= 6250 × 365 /91000 = 25.07 days

Average payment period = 43.70 days

Therefore, operating cycle will be:

= Day sales in inventory + Average collection period

= 59.63 days + 25.07 days

= 84.70 days

Cash cycle = Operating cycle - Average payment period

= 84.70 - 43.70

= 41 days

You might be interested in

a) A person has 5 trousers, 7 shirts, 6 ties, and 3 pairs of shoes. In how many possible distinct ways can the person dress

yKpoI14uk [10]

The person can dress in 630 different ways according to permutation and combination.

<h3>What is permutation and combination?</h3>

Subsets of a set can be created in two separate ways: combination and permutation. The subset's components can be listed in any order when combined. The components of the subset are listed in a permutation in a certain order.
There are only a finite number of permutations and combinations for each data set. They can therefore be used to calculate the probability of complex events.
The number of possible permutations increases and the likelihood that a particular permutation will occur decreases as a set's elements increase.

First, The person has to decide on pants. So, he has 5 choices. And for each pant, the person has 7 shirts, 6 ties and 3 pair of shoes as choice. So, 5*7*6*3 = 630.

Know more about permutation and combination with the help of the given link:

brainly.com/question/13387529

#SPJ4

8 0

2 years ago

$17,200 is invested, part at 6% and the rest at 2%. If the interest earned from the amount invested at 6% exceeds the interest e

dezoksy [38]

Solution:

Let x = amount invested at 6% and

let y = amount invested at 2%.

We can set up some equations that describe x and y:

"$17,200 is invested total" means

x + y = $17,200

"The interest earned from the amount invested at 6% exceeds the interest earned from the amount invested at 2% by $441.00" means

0.06x = 0.02y + $441.00

Solve for x in the first equation to get x = 17,200 - y, then plug that into the second equation and solve for y:

0.05(17,200 - y) = 0.02y + 441.00

860 - 0.06y = 0.02y + 865.35

5.35 - 0.09y = 0.02y

154.80 = 0.11 y

1407 = y

So, $1407 was invested at 2%. Plug y = 1407 into the first equation and solve for x:

x + 1407 = 17,200

x = 15,793

So, $15,793 was invested at 6%.

4 0

3 years ago

Molly was a successful real estate salesperson. She took some time off to stay at home with her first child. Days turned into we

Karolina [17]

Answer: Molly cannot simply pick up where she left off because two years after the license expires, all license rights lapse. Molly must re-qualify through the examination process before being licensed in real estate once again.

The mandatory CE Requirements for all Board of Behavioral Science -licensees state that a individual must receive 36 continuing education i.e. (CE) after every two (2)- year license renewal period.

Here, Molly hadn't kept up with any CE requirements, nor had she renewed her license after it expired almost three years earlier. Therefore she cannot simply pick up where she left off.

8 0

2 years ago

Martin is comparing the characteristics of his company's water filters with those that are already being marketed in the local m

sweet [91]

Answer:

A) relative advantage

Explanation:

A product's relative advantage over its competitors means the aspects at which one good or service is perceived as better or superior to other competing products. This concept is similar to comparative advantage, but from the consumer point of view. Consumers will value one product more because of its relative advantages over its competitors.

4 0

3 years ago

The goal of study skills and strategy instruction is to

Norma-Jean [14]

STUDY EVERYDAY AND MAKE SURE IF YOU NEED HELP ASK

3 0

3 years ago