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3 years ago

Simon Company's year-end balance sheets follow.

Business

1 answer:

Arturiano [62]3 years ago

4 0

Answer:

2017 Days' Sales Uncollected 49.37 days

2016 Days' Sales Uncollected 49.10 days

Explanation:

Computation for days' sales uncollected

Using this formula

Days' Sales Uncollected=Average receivables / Credit sales x 365 days

Let plug in the formula

2017 Days' Sales Uncollected= $76,450 / $565,219 x 365

2017 Days' Sales Uncollected= 49.37 days

[($89,900+$63,000)/2=$76,450]

2016 Days' Sales Uncollected= $60,000 / $446,029 x 365 days

2016 Days' Sales Uncollected= 49.10 days

[($63,000+$57,000)/2=$60,000]

Therefore 2017 Days' Sales Uncollected will be 49.37 days and 2016 Days' Sales Uncollected will be 49.10 days

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Spirit Company made sales of $ 38 comma 000 million during 2018. Cost of goods sold for the year totaled $ 17 comma 100 million.

ddd [48]

Answer:

Inventory TO 9

Gross profit percentage: 55%

Explanation:

Inventory Turnover

$\frac{COGS}{Average Inventory} = $Inventory Turnover$

where:

$$$Average Inventory=(Beginning Inventory + Ending Inventory)/2$

COGS 17,100

beginning: 1,800

ending: 2,000

$$$Average Inventory=1,800 + 2,000)/2$

Average Inventory: 1900

$\frac{17,100}{1900} = $Inventory Turnover$

Inventory TO 9

Gross profit percentage:

$\frac{sales-COGS}{sales}$

$\frac{38,000-17,100}{38,000}$

Gross profit percentage: 0.55 = 55%

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3 years ago

Vince offers to buy a book owned by Sun-Hi for twice what Sun-Hi paid for it. She accepts and hands the book to Vince. Sun-Hi's

Llana [10]

Answer:

Vince and Sun-Hi's Book

With Sun-Hi's delivery of the book, the offer by Vince is accepted by Sun-Hi.

Acceptance of an offer is necessary to make a contract.

Explanation:

An offer by Vince is not a contract, but its acceptance by Sun-Hi without a counter-offer makes it a valid contract that can be enforced in law if other ingredients for a valid contract are present. Acceptance establishes the agreement between Vince and Sun-Hi. Once Sun-Hi accepts Vince's offer with valid considerations (the book and double the price), the agreement for a business transaction between them is consummated. It is acceptance that completes the exchange of promises in this simple contract.

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3 years ago

If a financial portfolio manager in the u.s. buys british company stocks in the london stock exchange, this would involve:

oksian1 [2.3K]

<span>In order for a financial portfolio manager to purchase stocks in a British-operated business, it would require various forms of licensing and permissions on behalf of the financial manager to be able to make oversea purchases. This would ultimately allow the individual to make such a transaction.</span>

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4 years ago

Which business type is notably the easiest to acquire

m_a_m_a [10]

The corporation is the easiest business type to acquire.

In order to acquire part of a corporation you simply need to purchase stock in a company and you immediately become an owner.

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4 years ago

Read 2 more answers

A toy manufacturer estimates the demand for a game to be 2000 per year. Each game costs $3 to manufacture, plus setup costs of $

ASHA 777 [7]

Answer:

See below

Explanation:

We will compute the above using the EOQ

EOQ = √ 2 × D × S / H

EOQ = √ 2 × 2,000 × 500 / 2 × 3

EOQ = 1,000

1,000 units of toys should be manufactured at a time

Production runs = 2,000 / 1,000

Production runs = 2

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3 years ago