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Jim Roznowski wants to invest some money now to buy a new tractor in the future. If he wants to have $350 comma 000 available in 6 years, how much does he need to invest now in a CD paying 4.35% interest compounded monthly?
The decision of which assumptions to make is:a. an easy decision for an economist, but a difficult decision for a physicist or a chemist. b. not a particularly important decision for an economist. c. usually regarded as an art in scientific thinking. d. usually regarded as the easiest part of the scientific method.
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2016 fiscal year reported the following information ($ in millions): Sales $ 6,100 Cost of goods sold 5,100 The company's balance sheets for 2016 and 2015 included the following information ($ in millions): 2016 2015 Current assets: Accounts receivable, net $ 702 $ 602 Inventories 890 814 The statement of cash flows reported bad debt expense for 2016 of $6 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part) The allowance for uncollectible accounts was $8 and $5 at December 31, 2016 and 2015, respectively. All sales are on credit. Inventories Inventories are valued at the lower of cost or market. The cost of the majority of inventories is measured using the last in, first out (LIFO) method. Other inventories are measured principally at average cost and consist mostly of foreign inventories and certain raw materials. If the entire inventory had been valued on an average cost basis, inventory would have been higher by $460 and $310 at the end of 2016 and 2015, respectively. During 2016, 2015, and 2014, liquidation of LIFO layers generated income of $4, $5, and $23, respectively. Required: 1. Determine the amount of accounts receivable Inverness wrote off during 2016. (Enter your answer in millions.) 2. Calculate the amount of cash collected from customers during 2016. (Enter your answer in millions.) 3. Calculate what cost of goods sold would have been for 2016 if the company had used average cost to val 4. Calculate the following ratios for 2016. (Round "Receivables turnover ratio" and "Inventory turnover ratio" answers to 2 decimal places. Round "Gross profit ratio" answer to nearest percent (i.e., 0.123 needs to be entered as 12%).) ue its entire inventory. (Enter your answer in millions.)
Manson Industries incurs unit costs of $7 ($5 variable and $2 fixed) in making an assembly part for its finished product. A supplier offers to make 19,400 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable costs but no fixed costs. Prepare an analysis showing the total cost saving, if any, Manson will realize by buying the part. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Kelvin is an agent for Lookout Mountain Accountants, Inc. On Lookout’s behalf and at its request, Kelvin pays Nerdlinger for custom software designed for the management of Lookout’s services. Kelvin’s right to obtain the amount of those payments from Lookout arises under the principal’s duty of: A. compensation. B. cooperation. C. indemnification. D. reimbursement.
Uillypad Toys is a manufacturer of educational t that can be used to introduce children to a number of foreign languages. Three months ago, the company produced a working prototype, and last month the company successfully aunched its new device on the commercial market. What should Lillypad's managers prepare for next? a. a prolonged period of uncontested succes b. a difficult struggle to move from invention to innovation toys for children Six months ago, the company's research and development division came up with an idea for a unique touchscreen device c. a sharp decline in demand for the product d. increased competition from imitators
The following information is related to Alpha Company's fiscal year 2017. Income Statement: Net Income $300,000 Depreciation Expense 50,000 Gain on Sale of Plant Assets 10,000 Interest Expense 500 Balance Sheet - 12/31/17: Increase (Decrease) Accounts Payable ($4,000) Plant Assets - Purchased 250,000 Plant Assets - Disposals (100,000) Additional Information: Cash Balance - 12/31/2016: $50,000 Common Stock exchanged for outstanding Long Term Notes Payable of $125,000 Dividends paid were $25,000 Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
Devon and Edmond enter into a contract for the closing of a sale of Devon's recording studio. When Edmond's schedule conflicts, he asks Ferdie to perform his duties at the closing. This transfer of dutiesa. a delegation.b. an assignment.c. prohibited.d. a negotiation.
A particular country's exports of goods are increasing exponentially. The value of the exports, t years after 2007, can be approximated by V(t)equals1.5 e Superscript 0.039 t where tequals0 corresponds to 2007 and V is in billions of dollars. a) Estimate the value of the country's exports in 2007 and 2012. b) What is the doubling time for the value of the country's exports?
what is the best career to go for?
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