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katovenus [111]
3 years ago
5

Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in inventory has increased to $118,00

0. Cost of goods sold for the year is $1,300,000. Compute Endor’s inventory turnover and days’ sales in inventory. Assume that there are 365 days in the year
Business
1 answer:
Arada [10]3 years ago
5 0

Answer:

11.40

32 days

Explanation:

Inventory turnover and days of sales of inventory are examples of activity ratios.

They are used to measure the efficiency of performing daily tasks

inventory turnover =  Cost of goods sold/ average inventory

Average inventory = ($118,000 + $110,000) / 2 = $114,000

Inventory turnover =  $1,300,000 / $114,000 = 11.40

days of sales of inventory = 365 / inventory turnover = 365 / 11.40 = 32 days

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Based on the following information for Montana​ Investments, Inc., compute the rate of return on total assets.​ (Round the perce
11Alexandr11 [23.1K]

Answer:

Return on Total asset is 16.18%.

Explanation:

Total​ Assets, December​ 31, 2019 $195,000

Total​ Assets, December​ 31, 2018 $151,000 For Year Ended December​ 31, 2019

Interest Expense $7,000

Net Income $28,000

Return on Total Asset = Net Income / Average total Assets

Return on Total Asset = $28,000 / $173,000

Return on Total Asset = 0.1618 = 16.18%

Average total Assets = ( Beginning Assets balance + Ending total Assets balance ) / 2

Average total Assets = ( 151,000 + 195,000 ) / 2 = $173,000

3 0
3 years ago
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transa
Jlenok [28]

Answer:

                                                                  Item  cash      Net income  

a  Purchase of Supplies of cash                 -$100                   -

b  Adjusting entry for use of supplies            -                     -$30

c  Made sales on account                               -                   $1,250

                                             Or

   Made sales on account                               -                   $1,297

d Received cash from customer on acct     $850                  -

                                           Or

   Received cash from customer on acct     $865                  -

e  Purchased equipment for cash               -$2,600              -

                                            Or

   Purchased equipment for cash               -$2,528                -

f   Depreciation of building to be recorded      -                  -$650

                                         Or

   Depreciation of building to be recorded       -                 -$610

3 0
3 years ago
Which of the following foundation items must be integrated under a concrete cap?
Korolek [52]

Answer:

The answer is C. Driven piles.

Explanation:

Driven piles, in construction, are used in the building of foundations and they are also used to provide support for structures. This is evident in transferring their load to layers of soil or rock which possess the bearing capacity that is sufficient and also suitable settlement characteristics.

Driven piles are also used in the support of the following structures:

- embankments,

- retaining walls,

- anchorage structures

- cofferdams,

- bulkheads,

- buildings,

- towers,

- bridges,

- tanks,

- walls, etc.

Driven piles are the most cost-effective solution for deep foundation.

3 0
2 years ago
The basic summary device of accounting is the
steposvetlana [31]
 It is the detailed record of all the changes in a specific asset, liability, or stockholder's equity item as a result of transaction. Hope this helps!
5 0
3 years ago
43) An annuity is set up that will pay $1500 per year for ten years. What is the present value (PV) of this annuity given that t
11111nata11111 [884]

Answer:

PV= $9,626.49

Explanation:

Giving the following information:

Cash flow= $1,500

Interest rate= 9%

Number of years= 10

First, we will determine the future value, using the following formulas:

FV= {A*[(1+i)^n-1]}/i

A= cash flow

FV= {1,500*[(1.09^10) - 1]} / 0.09

FV= $22,789.395

Now, the present value:

PV=FV/(1+i)^n

PV= 22,789.395/(1.09^10)

PV= $9,626.49

4 0
2 years ago
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