22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 40,000 160,000 Accounts receivable turnover 4:1 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 120,000 60,000 3:1

22. The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 Accounts receivable, net, Dec. 31, 20x1 40,000 160,000 Accounts receivable turnover 4:1 Inventory, Jan. 1, 20x1 Inventory, Dec. 31, 20x1 Inventory turnover 120,000 60,000 3:1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Approximately how many years must one wait for an initial investment of $10,000 to triple in its…

A: Using NPER function in Excel.

Q: Question 12: Consider the following cash flow diagram and compute the equivalent annual worth at i =…

A: A Cash Flow diagram is used to present inflows & outflows of cash related to a project in…

Q: 3.20 Calculate the future worth (in year 11) of the following income and expenses, if the interest…

A: Year Time to Year 11 Cash Flow = Income - Expense 0 11 9000 1 10 600 2 9 600 3 8 600 4 7…

Q: 79. You have an investment that in today's dollars returns 15% of your investment in year 1, 12% in…

A: YearsDollar Return115%212%39%41-(15%+12%+9%) = 64%

Q: How much would $5,500 due in 100 years be worth today if the discount rate were 6.5%? a. $11.75 b.…

A: Formula. present value = Future value(1+r)n where , r= interest rate n= time period.

Q: What rate of interest did you earn for a period of 2417 days if you invested $175 and you earned…

A: The correct answer is: (D) 19.16% To calculate the rate of interest, you can use the formula Rate =…

Q: What is the future value of $250 received today if it is invested at 6.5% compounded annually for…

A: In this question we require to calculate the future value from below details : Present value = $250…

Q: 10. Calculate the unrecovered investment balance at the end of each year for the following: 2 3 4…

A: Unrecovered investment balance refers to the remaining amount of an initial investment that has not…

Q: What is the future value of $11,000 invested for one year at an interest rate of 6% p.a.? a. $17000…

A: given interest rate = 6% PV = 11000

Q: Suppose you earned a $330,000 bonus this year and invested it at 8.25% per year. How much could you…

A: It is a case of calculating the annuity of withdrawals. The withdrawals are done on an annual basis…

Q: How much would $9,000 t8 be received at the end of 50 years be worth today if the required rate of…

A: Using excel, FV is 9,000 Rate = 7.5% Time (nper) = 50 years PMT = 0 PV = ?

Q: 20. How long will it take for $65 to amount to $6500 if invested at 11% compounded monthly? Express…

A: The objective of this question is to find out how long it will take for an investment of $65 to grow…

Q: 5.4 Consider the accompanying cash flow diagram Compute the equivalent annual worth at i = 14%.…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: How much is $7,000,000 now equivalent to in sevent years from now at an interest rate of 7%? O a.…

A: Amount now = PV = $ 7000000 Period = asked for amount in 7th year which is after 6 years = hence…

Q: What interest will produce a capital of $ 59,000.00 in 1 year 4 months at 21.5% per year? A. $…

A: Capital = $59,000 Time Period = 1 Year 4 Months Interest rate = 21.5%

Q: Calculate the future value of an investment if the annual interest rate is 9%, number of payments is…

A: Details given in the question are as follows: Annual payment = $1000 Time period (number of periods)…

Q: What is the present value of an investment that promises to pay the investor $6,500 at the end of…

A: Per year payment(annuity) = $6500 Time =9 years Rate =14% *end of the year payment

Q: What is the total present value of $150 received in one year, $200 received in two years, and $800…

A: Present Value (PV) is a financial concept that pertains to the valuation of future cash flows in…

Q: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.…

A: Present value=Future value / [ 1 + (Interest rate x Number of years)]

Q: How much would $40,000 due in 50 years be worth today if the discount rate were 6.7%?

A: The present value of $40,000 due in 50 years at a discount rate of 6.7% tells us how much that…

Q: How much would $1. growing at 6.8% per year, be worth after 75 years? Select the correct answer. O a…

A: We need to use future value formula below to calculate worth after 75 years.FV =PV(1+i)nWhereFV…

Q: What is the present value of future stream of receipts of $200 per year to be received at end of…

A: present value of the annuity is the value of stream of recurring cashflow discounted to present…

Q: At what rate compounded annually will P50,000 earn P15,000 in 15 years?

A: Rate of return = (Future value / Present value)^(1/Time) - 1 where, Future value = P50,000 Present…

Q: 5. What amount should be invested now at 6% per year, compounded annually, to generate a retirement…

A: Present value will be the maximum amount that can be saved or invested now to generate a steady…

Q: How much would $1, growing at 13.7% per year, be worth after 75 years? a. b. C. d. e. $18,248.03…

A: Future Value refers to the compounded value of a single cash flow received today or multiple cash…

Q: What is the amount that an investor wants to pay for a perpetuity that will provide $20,000 per year…

A: Perpetuity is referred as the security which pays a never-ending stream of cash flows. It is the…

Q: ou deposit $2,500 into an investment that grows Multiple Choice C

A: Answer :Final amount = Principal (1 +r/12)^Time Principal = $2500 r = 13.2% = 0.132 Time = 17.5 * 12…

Q: Year Cash Flow 1 $ 1,375 2 1,495 3 1,580 4 1,630 If…

A: The table is: Year Cash flow ($) 1 1375 2 1495 3 1580 4 1630

Q: What rate of return would you need if you wanted to accumulate $1,000,000 in 25 years and invest…

A: Rate of return: It implies to the rate that is often expected or charged by the investor from the…

Q: What is the present value (PV) of an investment that pays $80,000 every year for four years if the…

A: In this problem we have to calculate quarterly interest and periods and calculate future value…

Q: If Company A earned 300,000 in 2019, 400,000 in 2020, 500,000 in 2021, 200,000 in 2022, and 100,000…

A: The expected return is the estimation of profit or loss that an investor determine from his…

Q: What will $205,000 grow to be in 7 years if it is invested today in an account with an annual…

A: Investment amount (PV) = $205,000 Interest rate (r) = 12% Period (n) = 7 Years

Q: How much must you invest today at 10% interest in order to see your investment grow to $24,000 in 3…

A: Future Value = Present Value * (1+r)^n r = Rate of Interest = 10% = 0.1 n = No of Years = 3 Future…

Q: The present value of $121,000 expected one year from today at an interest rate (discount rate) of 10…

A: Present Value (PV) is a financial concept that represents the current worth or value of a sum of…

Q: Finance Approximately how much would you need to invest today, to receive $280 in ten years, if you…

A: Future Value is $280 Time period is 10 years Interest rate is 10% To Find: Present Value

Q: 17. What is the present value of a $5,500 perpetuity starting in a year's time, then growing by 4%…

A: Option (A) $55,000Explanation:Given information, Cash flow at the end of year 1 (CF1) = $5,500Growth…

Q: None

A: Step 1: Given Value for calculation Future Value = fv = $39,000Time = t = 1 yearsRate of Return = r…

Q: How much would $9,00o t8 be received at the end of 50 years be worth today if the rered rate of…

Q: 5,000 is borrowed for 6 months at 3%, what is the interest a. 5050 b. 5,100 С. C. None of them

A: Borrowed Amount = $5,000 Time period = 6 months Interest rate = 3%

Q: O years if it eams 8% annum

A: Investment is act of allocating resources with the expectations of generating income.

Q: What is the future value of $14,000 invested for one year at an interest rate of 5% p.a.?

A: Future value (FV) is the technique to calculate the future value of a current investment at some…

Q: How much should be invested now to have $15,000 in six years if interest is 4% compounded quarterly?…

A: Future value required (FV) = $ 15000 Annual interest rate = 4% Quarterly interest rate (R) = 4%/4 =…

Q: At what nominal rate c.q. does money double in 10 years?

A: Compounding refers readjustment of principal by adding interest earned or due till date to principal…

Question

How much is the gross profit for the year?
a. 120,000 b. 130,000 C. 132,000 d. 146,000

22. The records of BRACKISH SALTY Co. showed the following information:
Accounts receivable, net, Jan. 1, 20x1
Accounts receivable, net, Dec. 31, 20x1
Accounts receivable turnover
40,000
160,000
4:1
120,000
Inventory, Jan. 1, 20x1
Inventory, Dec. 31, 20x1
Inventory turnover
60,000
3:1

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

If you invested $2500 in an account 12 years ago, and it's worth $4,285 now, what rate of return did you earn on your investment? 14.283% 4.593% 4.760% 5.950% 3.471%
How much will $7500 in savings today be worth 5 years from now if it earns 6%, compounded monthly? a. $11,465 b. $15.091 c. $7.955 d. $247,408 e. $7,686
Income from Net Cash Year Operations Flow $100,000 $180,000 2 40,000 120,000 40,000 100,000 10,000 90,000 10,000 120,000 The net present value for this investment is 4, 5.
S50 S50 S70 S90 SI10 S130 For the following cash flow, if the PP is semiannually and i= 12% per year compounded monthly, Find the present worth of the cash flow
1. You want to have this amount at the end 913 Your money will be invested this number of yer You wil invest this amount each year The rate you will earn each year is this How much should you start your investment with, today? A Between 50.00 and 200.00 14 29 4.6% B Between 200.00 and 250.00 C Between 250.00 and 300.00 D Between 300.00 and 500.00
What is the future value of $10,000 per year for 10 years invested at 10%? $159,374 $138,824 $170,000 $189,374
Question 25 What is the future value of $20,000 in three years at an annual interest rate of 5%? A $20,500.00 B $25,655.45 c) $25,000.00 $24,310.13 E) $23,152.50
What is the present value (PV) of $40, 000 received ten years from now; assuming the interest rate is 5% per yeal? A. $20,873 B. $42,974 C. S24, 557 D. $26,000
Question 10 (Ignore income taxes in this problem.) Z Company has gathered the following data on a proposed investment project: Investment in equipment.................................. $150,000 Annual cash flows........................................... $40,000 Salvage value of equipment............................. $0 Life of the equipment....................................... 10 years Required rate of return.................................... 10% The company uses straight-line depreciation on all equipment. Required: (iii) Calculate the ARR
How long will it take money to double itself if invested at 10% compounded annually? O a. 7.72 YEARS O b. 8.72 YEARS O c. 7.27 YEARS O d. 8.27 YEARS
What is the period in years?
Ques What is the future value (FV) of $50,000 in six years, assuming the interest rate is 4% per year? A. $53,776 B. $56,939 C. $32,500 D. $63,266