Entries by Grace Wahito

Broussard Skateboard’s sales are expected to increase by 25% from $8.6 million in 2016 to $10.75 million in 2017

March 3, 2020 in /by

AFN Equation Broussard Skateboard’s sales are expected to increase by 25% from $8.6 million in 2016 to $10.75 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current […]

 

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Garlington Technologies Inc.’s 2016 financial statements are shown below:

March 3, 2020 in /by

Problem 12-09 Financing Deficit Garlington Technologies Inc.’s 2016 financial statements are shown below: Balance Sheet as of December 31, 2016 Cash $   180,000 Accounts payable $   360,000 Receivables 360,000 Notes payable 156,000 Inventories 720,000 Line of credit 0  Total current assets $1,260,000 Accruals 180,000 Fixed assets 1,440,000  Total current liabilities $   696,000 Common stock 1,800,000 Retained earnings 204,000 […]

 

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What effective annual interest rate does the firm earn when a customer does not take the discount? (D

March 3, 2020 in /by

A firm offers terms of 2/20, net 50.  a.What effective annual interest rate does the firm earn when a customer does not take the discount? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)b.What effective annual interest rate does the firm earn if the discount is […]

 

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Williams & Sons last year reported sales of $48 million, cost of goods sold (COGS) of $40 and an inventory turnover ratio of 4.

March 3, 2020 in /by

Problem 16-01 Inventory Management Williams & Sons last year reported sales of $48 million, cost of goods sold (COGS) of $40 and an inventory turnover ratio of 4. The company is now adopting a new inventory system. If the new system is able to reduce the firm’s inventory level and increase the firm’s inventory turnover […]

 

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