Questions
Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for...

  1. Inventory Turnover and Days' Sales in Inventory

    Financial statement data for years ending December 31 for Salsa Company follow:

    20Y7 20Y6
    Cost of merchandise sold $2,912,700 $3,009,790
    Inventories:
      Beginning of year 489,000 481,900
      End of year 533,000 489,000

    a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.

    Inventory Turnover
    20Y7 fill in the blank 1
    20Y6 fill in the blank 2

    b. Determine the days' sales in inventory for 20Y7 and 20Y6. Assume 365 days a year. Round interim calculations and final answers to one decimal place.

    Days' Sales in Inventory
    20Y7 fill in the blank 3 days
    20Y6 fill in the blank 4 days

    c. Does the change in the inventory turnover and the days' sales in inventory from 20Y6 to 20Y7 indicate a favorable or an unfavorable trend?

Check My Work

Periodic Inventory by Three Methods

The units of an item available for sale during the year were as follows:

Jan. 1   Inventory 1,080 units @ $124
Feb. 17   Purchase 1,440 units @ $125
July 21   Purchase 1,655 units @ $126
Nov. 23   Purchase 1,145 units @ $126

There are 1,220 units of the item in the physical inventory at December 31. The periodic inventory system is used.

a. Determine the inventory cost by the first-in, first-out method.
$fill in the blank 1

b. Determine the inventory cost by the last-in, first-out method.
$fill in the blank 2

c. Determine the inventory cost by the weighted average cost method. Do not round intermediate calculation and round final answer to the nearest whole dollar.
$fill in the blank 3

In: Accounting

ou are a new tax accountant. A potential client would like to meet with you to...

ou are a new tax accountant. A potential client would like to meet with you to discuss your tax preparation and planning services

A young couple, both employed full time, have a child, age 8, and are considering purchasing a home. They would like to wisely save for retirement and their child’s educations

Before your meeting, prepare a list of tax opportunities or tax issues to highlight with your potential clients. Choose 3 items from your list of tax opportunities or tax issues and expand on them, preparing a short write up on each item that you will share with the potential client.

In: Accounting

What is popular culture? Please explain it's definition, summary and give an example of a current...

What is popular culture? Please explain it's definition, summary and give an example of a current popular culture topic/item/ect...

In: Psychology

In you opinion are the alternative to the inverted u theory really clear alternatives or are...

In you opinion are the alternative to the inverted u theory really clear alternatives or are they really just modifications of the theory predictions. Explain.

In: Psychology

THIS is to be done in python! Splitting the Bill- An exercise in input validation Write...

THIS is to be done in python!

Splitting the Bill- An exercise in input validation Write a python program called splitBill.py that works as follows:

• (10 points) Allow the user to input a bill amount, a tip percent, and the number of people in their party. o Input validation: Make sure to validate the input data. Allow the user to reenter inputs until they enter values which are valid.

▪ Make it easy on the user: To leave a 20% tip, the user should just enter 20. The tip amount should be a number between 1 and 50.

▪ The bill amount should be some numeric value between 1 and 5000.

▪ The number of people should be between 1 and 20. o Your program must follow the design of the BMI program discussed in lecture.

▪ It must have (a version) of the following functions: getNumber, isInputValid, getValidNumberInput, and main as in BMI. • (5 points) Output the amount in dollars each person in the party should pay, assuming they want to split the cost evenly.

o Round the output to at most 2 decimal places. (Search for python’s round() which is not discussed in the book)

o Put a $ sign in front of the output

. o Create a new function getSplitAmount that serves as the brains of your program and returns the amount each person in the party owes. This function is the brains of this program similar to how the getBMICategory is the brains in the BMI program.

• (10 pts) Testing: Write tester functions for the isInputValid and getSplitAmount functions.

• (3 pts) Comments: Write a comment for the getSplitAmount function Here are some examples of how your program should work when all inputs are valid. The highlighted parts were typed by the user. Bill: 100 Tip percent: 20 Number of people: 6 Each person pays: $20.0 Bill: 27.50 Tip percent: 10 Number of people: 2 Each person pays: $15.12

Here are some examples of how your program should work when all inputs are valid.

The highlighted parts were typed by the user.

Bill: 100

Tip percent: 20

Number of people: 6

Each person pays: $20.0

Bill: 27.50 Tip percent: 10

Number of people: 2

Each person pays: $15.12

In: Computer Science

Write a complete java program that Define a class named sample containing: A method named division...

Write a complete java program that Define a class named sample containing:

  • A method named division that receives two integers x and y and returns the division of the two numbers. It must handle any possible exceptions.
  • A method named printArray that receives an array of double arr and an integer index and prints the element in the positon index. It must handle any possible exceptions.
  • main method that recievs input from user and repeat if wrong input. Then it should call the other methods.
  • A sample output:

Please enter two numbers to divide: 10 Hi

You entered wrong input. Try again.

Please enter two numbers to divide: 15 0

Division could not be completed.

Enter 5 double numbers: 2.5 3.1 5.0 9.3 10.0

Which element you want to print? (Choose a number between 0-4): 7

Wrong choice. Try again.

Which element you want to print? (Choose a number between 0-4): 3

The element in position 3 = 9.3

Thank you for using this program.

In: Computer Science

Problem 9-7 Forecasted Statements and Ratios Upton Computers makes bulk purchases of small computers, stocks them...

Problem 9-7
Forecasted Statements and Ratios

Upton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships them to its chain of retail stores, and has a staff to advise customers and help them set up their new computers. Upton's balance sheet as of December 31, 2015, is shown here (millions of dollars):

Cash $   3.5 Accounts payable $   9.0
Receivables 26.0 Notes payable 18.0
Inventories 58.0 Line of credit 0
Total current assets $ 87.5 Accruals 8.5
Net fixed assets 35.0 Total current liabilities $ 35.5
Mortgage loan 6.0
Common stock 15.0
Retained earnings 66.0
Total assets $122.5 Total liabilities and equity $122.5

Sales for 2015 were $375 million and net income for the year was $11.25 million, so the firm's profit margin was 3.0%. Upton paid dividends of $4.5 million to common stockholders, so its payout ratio was 40%. Its tax rate is 40%, and it operated at full capacity. Assume that all assets/sales ratios, spontaneous liabilities/sales ratios, the profit margin, and the payout ratio remain constant in 2016. Do not round intermediate calculations.

  1. If sales are projected to increase by $40 million, or 10.67%, during 2016, use the AFN equation to determine Upton's projected external capital requirements. Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to two decimal places.
    $ ____million
  2. Using the AFN equation, determine Upton's self-supporting growth rate. That is, what is the maximum growth rate the firm can achieve without having to employ nonspontaneous external funds? Round your answer to two decimal places.
    _____%
  3. Use the forecasted financial statement method to forecast Upton's balance sheet for December 31, 2016. Assume that all additional external capital is raised as a line of credit at the end of the year and is reflected (because the debt is added at the end of the year, there will be no additional interest expense due to the new debt).
    Assume Upton's profit margin and dividend payout ratio will be the same in 2016 as they were in 2015. What is the amount of the line of credit reported on the 2016 forecasted balance sheets? (Hint: You don't need to forecast the income statements because you are given the projected sales, profit margin, and dividend payout ratio; these figures allow you to calculate the 2016 addition to retained earnings for the balance sheet.) Round your answers to two decimal places. Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000.
    Upton Computers
    Pro Forma Balance Sheet
    December 31, 2016
    (Millions of Dollars)
    Cash $____  
    Receivables $  ____  
    Inventories $  ____  
    Total current assets $  ____  
    Net fixed assets $  ____  
    Total assets $  ____  
    Accounts payable $  ____  
    Notes payable $  ____  
    Accruals $  ____  
    Total current liabilities $  ____  
    Mortgage loan $  ____  
    Common stock $  ____  
    Retained earnings $  ____  
    Total liabilities and equity $  ____  

answer all the blanks ____  and plz show your steps

In: Finance

Frederico owns a local bakery. With the recent Covid 19 pandemic he has had to restrict...

Frederico owns a local bakery. With the recent Covid 19 pandemic he has had to restrict his store hours and limit his employees’ shifts. He is not sure he’ll be able to stay in business if it goes on much longer. He has eight long-time employees and isn’t sure whether he can keep them employed. Frederico wants to know what his options are in relation to keeping on or getting rid of his employees in terms of employment law issues we have studied in this course.

In: Operations Management

23.) Which of the following restrictions on abortion was created in1989 narrowing the1973 landmark decision made...

23.) Which of the following restrictions on abortion was created in1989 narrowing the1973 landmark decision made by the U. S. Supreme Court?

a) Parental notification.

b) Limits on federal funding of abortions.

c) Spousal consent.

d) A 24 hour waiting period.

24.) Which of the following, according to our text, depicts a voice from the wilderness as a source of impetus for law?

a) Upton Sinclair’s fictional book on large snakes and a family’s struggle to survive.

b) The investigative reporting which brought Watergate to light.

c) Anti war demonstrations against the Viet Nam war.

d) Rosa Parks refusing to surrender her seat to a white male.

25.) According to feminist legal theory, which is a predominant theme in feminine legal literature?

a) the law is a reflection of a typical male culture.

b) men have strived to maintain their own power and keep women in their place.

c) the very way law argues for neutrality is gender biased.

d) all of the above.

In: Psychology

Develop a testing plan on a new education system write a 2-page paper addressing the topics/questions...

Develop a testing plan on a new education system

write a 2-page paper addressing the topics/questions below

-What were your main learnings from your testing?

-What worked? What didn’t work?

-What could be improved?

-Any new ideas results from testing? If yes, how can you use them?

-How will you use your test results to improve your solution?

In: Operations Management

IN JAVA PLEASE Implement a recursive approach to showing all the teams that can be created...

IN JAVA PLEASE

Implement a recursive approach to showing all the teams that can be created from a group (n things taken k at a time). Write the recursive showTeams()method and a main() method to prompt the user for the group size and the team size to provide arguments for showTeam(), which then displays all the possible combinations.

In: Computer Science

Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it...

Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $1.00 coming 3 years from today. The dividend should grow rapidly-at a rate of 34% per year-during Years 4 and 5; but after Year 5, growth should be a constant 9% per year. If the required return on Computech is 15%, what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations.

Carnes Cosmetics Co.'s stock price is $79.38, and it recently paid a $3.00 dividend. This dividend is expected to grow by 22% for the next 3 years, then grow forever at a constant rate, g; and rs = 16%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places. Do not round your intermediate calculations.

In: Finance

As employer are in a shift to more cloud computing and cloud storage, what is the...

As employer are in a shift to more cloud computing and cloud storage, what is the effect to our expectation of privacy?

Include dangers to users of social media and What remedies are available to victims and how do these differ from remedies victims of traditional crimes and torts?

In: Computer Science

complete the public T removeRandom(),    public SetADT<T> union(SetADT<T> set), and the incomplete part in the arraysettester...

complete the public T removeRandom(),    public SetADT<T> union(SetADT<T> set), and the incomplete part in the arraysettester

arrayset.java

package arraysetpackage;

import java.util.Iterator;
import java.util.NoSuchElementException;
import java.util.Random;

public class ArraySet<T> implements SetADT<T> {
   private static final int DEFAULT_SIZE = 20;
   private int count;
   private T[] setValues;
   private Random rand;
  
   public ArraySet (){
       this(DEFAULT_SIZE);
   } // end of constructor
  
   public ArraySet (int size){
       count = 0;
       setValues = (T[]) new Object[size];
       rand = new Random();
   } // end of constructor  

  
   public void add(T element) {
       if (contains(element))
           return;
       if (count == setValues.length) {
           T[] temp = (T[]) new Object[setValues.length*2];
           for (int i = 0; i < setValues.length; i++) {
               temp[i] = setValues[i];
           }
           setValues = temp;
       }
       setValues[count] = element;
       count++;
   }

   public void addAll(SetADT<T> set) {
       Iterator<T> iter = set.iterator();
       while (iter.hasNext()){
           System.out.println(iter.next());
       }
       // finish: this method adds all of the input sets elements to this array
      
   }

   public boolean contains(T target) {
       for (int i = 0; i < count; i++ )
           if (setValues[i].equals(target))
               return true;
       return false;
   }
  
   public String toString () {
       String toReturn = "[";
       for (int i = 0; i < count; i++) {
           toReturn += setValues[i] + " ";
       }
       toReturn +="]";
       return toReturn;
   }
  


   public boolean equals(SetADT<T> set) {
       // finish: tests to see if this set and the input set have exactly the same
       // elements
      
      
       return false; // this is just generic, you need to change the return
   }
  
   public boolean isEmpty() {
       return count==0;
   }

   public Iterator<T> iterator() {
       return new ArraySetIterator<T>(setValues,count);
   }

   public T remove(T element) {
       for (int i = 0; i < count; i++ ) {
           if (setValues[i].equals(element)) {
               T toReturn = setValues[i];
               setValues[i] = setValues[count-1];
               count--;
               return toReturn;
           }
       }
       throw new NoSuchElementException("not present");
   }


   public T removeRandom() {
       // finish: remove and return a random element. you will use the
       // local rand object
      
      
       return null; // this is just generic, you need to change the return
   }
     
   public int size() {
       return count;
   }
     
   public SetADT<T> union(SetADT<T> set) {
       // finish: a new set is created and returned. This new set will
       // contain all of elements from this set and the input parameter set
      
      
       return null; // this is just generic, you need to change the return
   }

}
arraysetester.java:

package arraysetpackage;

import java.util.Iterator;

public class ArraySetTester {


   public static void main(String[] args) {
       SetADT <String> mySet = new ArraySet<String>();

       for (int i = 0; i < 12; i++)
           mySet.add(new String("apple"+i));

       System.out.println(mySet);
      
       System.out.println("mysize = "+mySet.size()+ " [expect 12]");
       mySet.add(new String ("apple0"));
       System.out.println("mysize = "+mySet.size()+ " [expect 12]");
       System.out.println("contains 11? = "+mySet.contains(new String("11")));
       System.out.println("contains apple11? = "+mySet.contains(new String("apple11")));      
      
       try {
           String removedItem = mySet.remove("apple7");
           System.out.println(mySet);
           System.out.println(removedItem+ " was removed");
       } catch (Exception e) {
           System.out.println("item not found, can't remove");
       }
      
       try {
           String removedItem = mySet.remove("apple17");
           System.out.println(mySet);
           System.out.println(removedItem+ " was removed");
       } catch (Exception e) {
           System.out.println("item not found, can't remove");
       }
      
       Iterator<String> iter = mySet.iterator();
       while (iter.hasNext()){
           System.out.println(iter.next());
       }

       SetADT <String> mySet2 = new ArraySet<String>();

       for (int i = 0; i < 12; i++)
           mySet2.add(new String("orange"+i));  
       System.out.println(mySet2);
      
       // add code here to test methods you finish in ArraySet
      
      
      
       // after you complete the existing methods, do the Case Study
       // Approach 1 will be here in the main
      
       // Approach 2 will be here in ArraySetTester, but you will
       // create a local static method that you will call from the main
      
       // Approach 3 will start with uncommenting the prototype in SetADT
       // and then creating the method in ArraySet. Finally you will write
       // code here to test the new method
   }


}

arraysetiterator.java

package arraysetpackage;

import java.util.Iterator;
import java.util.NoSuchElementException;

public class ArraySetIterator <T> implements Iterator <T> {
   private int position; //Always points to the next value
   private T [] values;
   private int count;
  
  
   public ArraySetIterator (T [] theValues, int aCount) {
       position = 0;
       values = theValues;
       count = aCount;
   }
  
   public boolean hasNext() {
       return position < count;
   }
  
   public T next() {
       if (position >= count)
           throw new NoSuchElementException("Past " + count + " elements");
       position++;
       return values[position - 1];
}
  
   public void remove() {
       throw new
       UnsupportedOperationException("No remove for ArraySet");
   }

}

setadt.java

package arraysetpackage;

import java.util.Iterator;

public interface SetADT<T> {
   public void add (T element); //Adds one element to this set, ignoring duplicates
   public void addAll (SetADT<T> set); //Adds all elements in the parameter to this set,
   // ignoring duplicates
   public T removeRandom (); //Removes and returns a random element from this set
   public T remove (T element); //Removes and returns the specified element from this set
   public SetADT<T> union (SetADT<T> set); //Returns the union of this set and the
   // parameter
   public boolean contains (T target); //Returns true if this set contains the parameter
   //public boolean contains(SetADT<T> Set); // Returns true if this set contains the parameter
   public boolean equals (SetADT<T> set); //Returns true if this set and the parameter
   //contain exactly same elements
   public boolean isEmpty(); //Returns true if this set contains no elements
   public int size(); //Returns the number of elements in this set   
   public Iterator<T> iterator(); //Returns an iterator for the elements in this set
   public String toString(); //Returns a string representation of this set
}

In: Computer Science

Calculate the option price using the following information: Option type European call Time to expiration 4...

Calculate the option price using the following information:

Option type European call
Time to expiration 4 months
Strike price $30
Current underlying stock price $32
Underlying stock expected dividend $2.00 in 2 months
Underlying stock volatility 40%
Risk-free rate 6%
Pricing model Black-Scholes formula

Group of answer choices

$3.05

$3.65

$4.32

$5.02

In: Finance