1 answer

QUESTION 14: If a firm turns over its average inventory of $59,389,000 five times (IT=5), and...

Question:

QUESTION 14: If a firm turns over its average inventory of $59,389,000 five times (IT=5), and the gross profit margin is 58%, what is the total revenue (sales)?

$707 million

$645 million

$693 million

$775 million

none of these

QUESTION 15: Trico Corporation’s DSO is 28.6 days. If the accounts receivable total $3,840,000, What would the firm’s annual sales be?

$19.893 million

$49.007 million

$59.390million

$38.908 million

none of these

QUESTION 16: The target capital structure is the

projects that form the goal for the coming year

set of strategic objectives of the firm over the next 5-10 years

mix of capital components used in fundraising for projects

systematic repayment of debt through equal periodic payments


Answers

14)

Cost of goods sold % = 100% - Gross profit % = 100% - 58% = 42%

Cost of goods sold = Average Inventory X Inventory tunrover

= 59.389 Million x 5

= 296.945 Million

Sales = Cost of goods sold / Cost of goods sold %

= 296.945 / 42%

= 707.01 Million

Correct choice A

15)

Annual sales = Receivables * 365/ Days of sales in hand

= 3.84 Million x (365/28.60)

= 49.007 Million

Correct choice B

16)

Target capital structure defines the mix of proposed debt and equity in the capital structure

Correct choice C

.

Similar Solved Questions

1 answer
*Exercise 20-14 Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been...
*Exercise 20-14 Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up with the volume of sales invoices. Management is considering updating its computer with a faster model t...
1 answer
An object is at a distance of 8cm from a concave mirror. The focal distance of...
An object is at a distance of 8cm from a concave mirror. The focal distance of the mirror is 12cm. What is the location of the image? multiple choice: 1) -16 cm 2) -24 cm 3) 4 cm 4) 16 cm What is the reactance of a 20μF capacitor when the frequency of the power source is 50Hz? multiple choices: 1...
1 answer
QUESTION 3 Which statement correctly describes what is happening in the reaction shown below? 2 Mg(s)...
QUESTION 3 Which statement correctly describes what is happening in the reaction shown below? 2 Mg(s) + S2(g) → Mg(s) O A. Mg is oxidized OB. Sy loses electrons OC. Mgs is the reducing agent. Mg is the oxidizing agent. OD Mgs gains electrons....
1 answer
Need help solving this, show work please 7. If 100 grams of water at 90°C and...
need help solving this, show work please 7. If 100 grams of water at 90°C and 40 grams of water at 10°C are mixed, what is the final temperature of the mixture? (Assume no heat lost to, or gained from the surroundings and that the specific heat of water is 1 cal/gm-°C)...
1 answer
Bonus questions (10 points) Only answer you have completed all the questi 1-2 8 . Provide...
Bonus questions (10 points) Only answer you have completed all the questi 1-2 8 . Provide the structure of the product in the action bio Toto BOH HC round Anwer the following question on the calcio HO OH the stochemistry at the double beds as E der z t h e functional prope is the compound...
1 answer
Someone can help here and especially show clearly/organized how you got the answer. I will rate...
Someone can help here and especially show clearly/organized how you got the answer. I will rate for sure. Thanks in advance. Match these values of r with the accompanying scatterplots. 0.996, 0.764,-1,-0.388, and-0996. QUESTION 1 Click the icon to view the scatterplots. Match the values of r to the...
1 answer
CHEMISTRY st 2: Chapters 10-12 Question 10 (of 600 What important type of bond, formed between...
CHEMISTRY st 2: Chapters 10-12 Question 10 (of 600 What important type of bond, formed between two sulfhydryl groups, plays a key role in the shape of many proteins? Sh) O double bond O thioester bond O disulfide bond O hydrogen bond O cysteine bond...
1 answer
What is the possible mechanism for this reaction? (BAIP)Zrclzlpy)z Amgx (BAIP)Z-CIR(PY)2] - RH R = CH2CMe...
what is the possible mechanism for this reaction? (BAIP)Zrclzlpy)z Amgx (BAIP)Z-CIR(PY)2] - RH R = CH2CMe Ph ((BAP)Zrci(n2-N, C-NCsHa/py) B RMgX RM9X NAT NAR...
1 answer
How much secs? (physics)
How many seconds will it take an echo to reach your ears if you yell toward a mountain 71 m away on a day when the air temperature is 20⁰C?...
1 answer
What instruction is used to convert an integer into a double precision floating point number and...
What instruction is used to convert an integer into a double precision floating point number and stores it in the stack? a. FILD Ob.FLD OCFST Od. FSTP QUESTION 5 Which instruction copies a floating point number from the stack and does not pop the stack? a.FILD b.FLD OCFST Od.FSTP...
1 answer
A manufacturer of aerospace products purchased five flexible assembly cells for $500,000 each. Delivery and insurance...
A manufacturer of aerospace products purchased five flexible assembly cells for $500,000 each. Delivery and insurance charges were $32,000, and installation of the cells cost another $49,000. a. Determine the cost basis of the five cells. b. What is the class life of the cells? c. What is the MACRS ...
1 answer
Question 21 --14 Chiapas is (1) A rich state in Mexico (2) The richest state in...
Question 21 --14 Chiapas is (1) A rich state in Mexico (2) The richest state in Mexico (3) A moderate to rich state in Mexico 4 None of the above...
2 answers
Problem 3-3A Everett Co. was organized on July 1, 2015. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. EVERETT CO....
Problem 3-3A Everett Co. was organized on July 1, 2015. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. EVERETT CO. Trial Balance September 30, 2015 Unadjusted Adjustecd $ 8,731 11,562 655 1,150 10,396 1,545 2,160 18,260 Acc...
1 answer
Employment Unemployment Rate homeboyment Labor Force Labor Force Adult (in Population thousands) (in thousands) | Number...
Employment Unemployment Rate homeboyment Labor Force Labor Force Adult (in Population thousands) (in thousands) | Number Employed Unemployed (in Year in thousands) thousands) 2019 5,989 157,529 2018 6,308 155,760 2017 6,979 153,334 2016 7,757 151,439 2015 8,294 148,845 2014 9,602 146,319 2013 11,457...
1 answer
Describe the reflex arc and its various structures. Explain exactly what happens there and how.
Describe the reflex arc and its various structures. Explain exactly what happens there and how....
1 answer
Assignment Gradebook WANAGERIAL AC ORION Downloadable eTextbook CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION (BAC...
Assignment Gradebook WANAGERIAL AC ORION Downloadable eTextbook CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION (BAC Problem 12-2A a-c (Video) Lon Timur is an accounting major at a midwestern state university located approximately 60 miles from a major city. Man of the students attendin...