Answer:
Descriptive statistics
Explanation:
If Ms smith wants information on the typical number of copiers sold by a salesperson she has to use descriptive statistics.
Descriptive statistics is used to describe data. It gives basic summary of the sample and also measures. It entails the usage and analysis of the collected data. Therefore descriptive statistics is the data analysis tool that she would need.
The year-end financial statements of Rally Company for the current year, report total revenues of $19,829 million, accounts receivable of $1,272 million at the current year-end, and $1,19 million for the prior year-end. The company's accounts receivable turnover for the year is:_______.
a. 18.3 times.
b. 18.9 times.
c. 19.5 times.
d. 20.0 times.
e. none of these are correct.
Answer:
16.1 times
Explanation:
Calculation for the company's accounts receivable turnover for the year
Using this formula
Accounts Recievable Turnover = Total Revenues/Average accounts receivables
Let plug in the formula
Accounts Receivable Turnover = $19,829/[($1,272+$1,198)/2]
Accounts Receivable Turnover =$19,829/$1,235
Accounts Receivable Turnover = 16.1 times
Therefore The company's accounts receivable turnover for the year is: 16.1 times
Keith Company paid Major Company for merchandise with an $8,000, 60-day, 9% note dated April 1. If Keith Company pays the note at maturity, what entry should Major make at that time?a. cash 8,720 720 interest income 8,000 notes receivable b. notes payable 8,000 720interest expense 8,720 cashc.cash 8,120 interest income 120 notes receivable 8,000 d. notes payable 7,880 interest expense 120 cash 8,000
Answer:
c.Dr Cash 8,120
Cr Interest income 120
Cr Notes receivable 8,000
Explanation:
Based on the information we were told that the Company paid another company which is Major Company for merchandise with an amount of $8,000 which includes 60-day as well as 9% note dated April 1 which means that if Keith Company pays the note at maturity the journal entry that Major should make at that time will be:
Dr Cash 8,120
(8,000+120)
Cr Interest income 120 (8,000*9%/360*60)
Cr Notes receivable 8,000
The manager of a fashionable restaurant open Wednesday through Saturday says that the restaurant does about 26 percent of its business on Friday night, 34 percent on Saturday night, and 24 percent on Thursday night. What seasonal relatives would describe this situation?
Answer: See Explanation
Explanation:
The work done for each day is written below:
Thursday night = 24%
Friday night = 26%
Saturday night = 34%
Wednesday night = 100% - (24% + 26% + 34%) = 100% - 84% = 16%
Let's assume that sales in a week is represented by x. Therefore average sales in week if x = 1 will be 1/4 = 0.25.
Seasonal relative will be:
= Sales in a day /Average sales in a week
Wednesday = 16% / 0.25 = 0.16 / 0.25 = 0.64
Thursday = 24% / 0.25 = 0.96
Friday = 26% / 0.25 = 1.04
Saturday = 34% / .25 = 1.36
Watters Umbrella Corp. issued 15-year binds two years ago at a coupon rate of 6.2 percent. The bonds make semiannual payments. If these bonds currently sell for 98 percent of par value, what is the YTM?
Answer:
YTM = 6.42%
Explanation:
current market value = $1,000 x 98% = $980
n = (15 - 2) x 2 = 26
coupon = $1,000 x 6.2% x 1/2 = $31
face value = $1,000
YTM = [coupon + [(face value - market value)/n]} / [(face value + market value)/2]
YTM = [31 + [(1,000 - 980)/26]} / [(1,000 + 980)/2]
YTM = (31 + 0.77) / 990 = 31.77 / 990 = 0.03209 x 2 (annual yield) = 0.641818 = 6.42%
One of the draw backs of the profitablity index as a criteria for judging whether to accept a capital investment project is that:_______
Answer:
It might lead to over-optimistic projections
Explanation:
In simple words, the problem with using profitability index as the index criteria lies with the procedure of estimating it. In order to consider the business situation, the organisational finance group requires to settle with the corporation supervisors.
Leadership may be too enthusiastic about their assignment, so forecasts for cash flow may be too substantial. Consequently, in predicting the profitability index, there may be an uptrend prejudice.
Which financial statement would include a listing of a companies assets
Answer:
Balance Sheet
Explanation:
In accounting, Balance sheet will show a complete listing of assets, liabilities and Equity of a company within a specific time period. (For most companies, the balance sheet will be made at each end of the year)
under the Assets segment, Balance sheet will specify several accounts arranged based on their liquidity. Cash usually put at the top of the list since it's considered as the most liquid assets.
People use balance sheet to give a general measurement on Company's financial health. If for example, they noticed that the liability is significantly larger than their assets, investors might feel discourage to invest in the company.
Jerry works as an accountant in a manufacturing firm. His firm has sold goods to customers on credit, while the full payment for the goods is expected after a month. In which category should Jerry mention the price of these goods? A. accounts payable B. accounts receivable C. cost of goods sold D. depreciation E. operating expenses
Answer:
If we are talking about the price Jerry and his firm purchased goods for I would say "Cost of goods sold", if we are talking about the revenue that will be collected from customers in the future I would say "accounts recceivable"
Explanation:
Answer:
the answer is b. accounts receivable
Explanation:
a word-for-word copy from edmentum:
"Accounts receivable: Let’s say that a business sells goods to a customer on credit. The customer plans to make the payment a few months later. A business recognizes this amount as a current asset called accounts receivable until it receives the payment."
Irfan runs a small business. His business’s total liabilities amount to $200,000. His net profit for the latest accounting period is $50,000. The total value of all the business assets comes to $600,000. What is the debt to asset ratio in the case of Irfan’s business? The debt to assets ratio of Irfan’s business, to two decimal places, is percent.
Small businesses are either services or retail operations like grocery stores, medical stores, tradespeople, bakeries, and small manufacturing units.
What is the meaning of Small businesses?Small companies typically offer services or are retail establishments like grocery stores, pharmacies, tradesmen, bakeries, and micro-manufacturing facilities. Small businesses are privately held companies that need less equipment, labor, and cash than larger companies.
The most straightforward type of business is a sole proprietorship. Small businesses are distinct legal entities such as corporations, partnerships, and sole proprietorships that have fewer employees and/or lower yearly income than a regular-sized company. Businesses are considered "small" if they are eligible for government assistance and favorable tax treatment.
Learn more about the Small Business here:
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