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Problem 1: When comparing inventory turnover ratios, other things being equal
Select one:
a. a lower inventory turnover is preferred in order to keep inventory costs low.b. a higher inventory turnover is preferred to improve liquidity.c. higher inventory turnover results from old or obsolete inventory increasing the inventory balance on the balance sheet.d. higher inventory turnover results from an increase in the selling price of the product.
Problem 2: Which of the following ratios would be the most useful to assess the risk associated with a firm being able to pay off its short-term line of credit?
a. return on equityb. the acid-test (or quick) ratioc. the operating profit margind. the fixed asset turnover
Project B has an initial cost of $50,000 and an annual cash inflow of $18,500 for four years. These are mutually exclusive projects. What is the crossover rate?
Explain what business it is in and some of the costs the company incurs. Categorize the costs you identified as fixed costs or variable costs.
As the accountant, would you recommend the salon transition from a cash basis to an accrual basis? How will change positively impact its business reporting?
After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns are $25,250 and $21,825, respectively. Illustrate what is the amount of net income or net loss for the..
Linda Day George Company had bonds outstanding with a maturity value of $452,900. On April 30, 2014, when these bonds had an unamortized discount of $14,100, they were called in at 105. Ignoring interest, record this refunding transaction. Ignoring i..
Discuss the accounting cycle. Which steps in the cycle do you consider to be the most important? In addition to trend analysis, analysts frequently incorporate external (non-financial) information into the prospective process to project future perfor..
What is the effective annual rate on this loan? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations.
List four types of earnings that would be included in Block 15A and/or Block 15B and state whether each earning is insurable for earnings and/or hours
In the translated financial statements, which method of translation maintains the underlying valuation methods used in the foreign currency financial statements? Monetary/nonmonetary method. Current rate method; income statement translated at average..
Do you consider it is appropriate for the NZ Company to utilise a contingent liability note as the means of providing information about potential liability
Journalize the issuance of the stock in exchange for the land - Journalize the two transactions.
A fast food restaurant has a profit of $500,000 in 2018 and $520,000 in 2019. What is the percentage increased in profit for the year 2019?
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