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Problem 1: Serendipity Inc. has annual sales of $54,750,000, or $150,000 a day on a 365-day basis. The firm's cost of goods sold is 75% of sales. On average, the company has $13,500,000 in inventory and $12,000,000 in accounts receivable. The firm is looking for ways to shorten its cash conversion cycle. Its CFO has proposed new policies that would result in a 20% reduction in both average inventories and accounts receivable. She also anticipates that these policies would reduce sales by 10%, while the payables deferral period would remain unchanged at 35 days. What effect would these policies have on the company's cash conversion cycle? Round to the nearest whole day.
In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors on the shore of Lake Michigan.) Parking for the game was expected to c..
A company has signed a $10,000, three-year notes payable with a 10% annual interest rate. Which amount should the company report for this note payable
Your firm wants to move from a relational database model to the REA data model. Explain to your senior management the risks and rewards of such of a move. Be sure to provide specific examples to support your response.
Determine the cost of bricks transferred to finished goods inventory and the cost of bricks in ending work in process inventory for October 2020.
What amount should the harrison report for the other income? Lois has always been an avid reader, and during the year, she had an opportunity to lead
Treasury bills are currently yielding 4%. A stock with a Beta of 0.8 is expected to yield 10%. What is the expected yield on the market portfolio?
Lourdes LLC. keeps a $100 change fund in its cash register. At the end of the day, cash sales per the register tape were $3,820. The cash count was $4,300.
Journalize the annual adjusting entries that were made. Prepare an income statement and a statement of retained earnings for the year ending December 31, 2014 and an unclassified balance sheet at December 31.
You hold a portfolio with the following securities: Calculate the expected return of portfolio and round two decimal places
Describe which form of market efficiency is consistent with your belief. The CFO of a certain company always wears his green suit on a day.
Selected information about income statement accounts for the Ajax Company is presented below for the fiscal year ended December 31, 2016. A landslide caused $75,000 in uninsured damages to a warehouse. The landslide was considered to be an infrequen..
Assume that fixed costs remain at $630,000. Compute the unit sales to earn the target after-tax net income and (2) dollar sales to earn the target after-tax net income.
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