Answer:
$90,000
Explanation:
It is given that :
The pretax accounting income of Bryce Corporation 100,000
The interest on the municipal bonds - 7,000
The depreciation - 5,000
The difference in bad debt expense (3000-1000) <u> +2,000</u>
So the total income of Bryce Corporation $ 90,000
Answer:
a. Inventory Turnover = 5.299 times or 5.30 times
b. Days in Inventory = 69 days
Explanation:
a)
To calculate the inventory turnover, we first need to find out the avergae inventory. The average inventory is calculated by adding the opening and the closing inventory and dividing the sum by 2.
- Average Inventory = (35750 + 63500) / 2 = $49625
The inventory turnover is,
- Inventory Turnover = Cost of Sales / Average Inventory
- Inventory Turnover = 263000 / 49625 = 5.299 times or 5.3 times
b)
Days in inventory is the period for which, on average, the inventory is kept and sold completely.
We can calculate days in inventory simply by dividing the number of days for which we are calculating the ratio for, say in this case one years or 365 days by the inventory turnover ratio we calculated.
Days in inventory = 365 / 5.30 = 68.8679 or 69 days
Answer:
b specialized
Explanation:
it the one that makes the most sense
Answer:
True
Explanation:
One of the key roles of any manager is controlling the operations under his authority, and the two main tools that a financial manager has to help him/her control the operations under his/her department are the financial controller (internal auditor) and the external auditor firm. In an ideal world, the financial controller should be enough to do this job, but in the real world, things can get complicated and it is always better to have a different point of view. There is always the possibility that the financial controller is not performing his/her job properly, and the external auditor will help us notice this flaws.
Safety and liquidity. Liquidity means the ability to use it at a moments notice and if saved that is possible whereas if invested that may not always be the case. If invested you won’t be able to use the funds immediately or at least you aren’t guaranteed that you can without a delay. The other imp reason is safety. If you save your money it is safe and retains its value but if invested it’s value can fluctuate which you tolerate and expect in the hopes that over time it will earn you more money.
