Petron Pet Supplies sells on terms of 3/10, net 60. What is the effective annual cost of trade credit under these terms? Use a 365-day year.
Q: I want to correct answer general accounting question
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) measures the profitability of a…
Q: None
A: Step 1: Definition of Net EarningsNet Earnings: It refers to the amount of money an employee takes…
Q: Total overhead variance is
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a rate calculated…
Q: hi expert please help me
A: ✅ Summary Answers:Profit per share (EPS): $5.00Payout ratio: 15%
Q: Yardley Electronics purchased 3,500 tablets and has 600 tablets in its ending inventory at a cost of…
A: Explanation of Inventory Cost:Inventory cost is the original amount paid to acquire or produce items…
Q: Give me Answer
A: Concept of Differential Revenue:Differential revenue refers to the increase in revenue when choosing…
Q: Reynolds Corporation shipped out an order on March 10th (FOB destination) for a total of $21,450.75.…
A: Explanation of FOB Destination: FOB (Free On Board) Destination means the seller maintains ownership…
Q: Financial Account
A: Concept of Gross Sales:Gross sales refer to the total unadjusted revenue generated from goods or…
Q: What is the variable cost per unit?
A: Explanation of Mixed Costs: Mixed costs contain both fixed and variable elements, creating a cost…
Q: 3 PTS
A: Explanation of Equity: Equity represents the residual interest in the assets of a company after…
Q: Financial Account
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial metric that…
Q: Sunset Corporation had sales of $200,000, year-end receivables of $25,000, inventories of $40,000,…
A: Calculation of Total Asset Turnover RatioTotal Asset Turnover Ratio = Sales / Total Assets…
Q: Compute the total cost of the warehouse general accounting question
A: Step 1: Definition of Total Cost of ConstructionThe Total Cost of Construction includes all expenses…
Q: What was the target stock price in one year? Give me solution fast general accounting question
A: Step 1: Definition of Target Stock PriceTarget Stock Price: The future stock price is calculated…
Q: Need help
A: Explanation of Cost of Goods Available for Sale: Cost of goods available for sale (COGAS) represents…
Q: Perry Company applies overhead on the basis of 200% of direct labor cost. Job No. 486 is charged…
A: Overhead is applied at 200% of direct labor cost, Applied Manufacturing Overhead = $500,000…
Q: Hi experts please provide answer this financial accounting question
A: Step 1: Define Days Inventory Outstanding (DIO)Days Inventory Outstanding (DIO) is a financial…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Debt to Equity RatioThe Debt to Equity Ratio is a financial metric that…
Q: what is the company's residual income?
A: The residual income (RI) is calculated using the formula: Residual Income=Operating Income−(Average…
Q: Provide correct option general accounting question
A: Step 1: Definition of Cost AllocationCost Allocation is the process of assigning indirect costs to…
Q: Solve this question accounting
A: Step 1: Definition of Total Assets Total assets are the sum of everything a company owns and are…
Q: Financial Accounting
A: Step 1: Define Gain or Loss on Settlement of Debt and Transfer of EquipmentGain or Loss on…
Q: answer ?? General accounting
A: Step 1: Define Financing Activities in the Statement of Cash FlowsFinancing activities are…
Q: how much is the total cost of work-in-process for the year?
A: Step 1: Definition of Total Cost of Work-in-Process (WIP)The total cost of work-in-process (WIP)…
Q: Correct Answer
A: Concept of Production Budget:The production budget outlines how many units a company plans to…
Q: Please help me
A: Concept of Contribution Margin Ratio:The contribution margin ratio shows what portion of each dollar…
Q: the finished products are sold?
A: Step 1: Definition of Operating CycleThe Operating Cycle is the time it takes for a company to…
Q: What is the direct materials price variance of this accounting question?
A: Step 1: Definition of Direct Materials Price VarianceThe Direct Materials Price Variance measures…
Q: None
A: The simple payback period is calculated as: 18,00072,000=4.00 yearsFinal Answer:4.00 years
Q: How many machine hours were used during the year?
A: Step 1: Definition of Predetermined Overhead RatePredetermined Overhead Rate: It is the estimated…
Q: Provide best Answer
A: Step 1:To get the ROE, we will be using the expanded formula which is called the Du Pont Equation.…
Q: general accounting
A: Step 1: Definition of Long-Term DebtLong-term debt refers to loans or financial obligations that a…
Q: Kate Corporation owns a patent on an automated system. The company has been amortizing the patent on…
A: Explanation of Patent: A patent is an intangible asset that provides exclusive legal rights to its…
Q: Estimated variable portion of maintenance costs
A: Explanation of Fixed Cost:Fixed cost is an expense that remains constant regardless of the level of…
Q: GoldenTech Corporation had a net income of $625,000 in 2021. If the company's net income increased…
A: The net income for 2022 is calculated as: $625,000 × 1.156 = $722,500 Correct answer: (c) $722,500 ✅
Q: Calculate this account requirement
A: Step 1: Definition of Key TermsDebt-to-Equity Ratio: This financial ratio measures a company's…
Q: HELP
A: Approach to solving the question: Detailed explanation: Let's break it down step by step:1. Initial…
Q: Need help with this accounting questions
A: Step 1: Definition of Applied OverheadApplied Overhead is the estimated overhead assigned to a…
Q: No AI
A: Concept of Loan PrincipalLoan principal refers to the original amount of money borrowed or loaned…
Q: 4 POINTS
A: Concept of Sales:Sales refer to the total revenue generated by a company through the sale of goods…
Q: Please give me correct answer this financial accounting question
A: Step 1: Definition of Recognized Gain or LossRecognized Gain or Loss is the difference between the…
Q: 2: Martin Hughes earns net self-employment income of $157,100. He works a second job from which he…
A: To determine the correct self-employment tax for Martin Hughes and Elisa Grant, we follow these…
Q: Adams Corp. has a gross profit of $1,200,000 and $350,000 in depreciation expenses. Selling and…
A: Net income = Gross profit - Depreciation expense - Selling and administrative expensesNet income =…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Product Warranty ExpenseProduct Warranty Expense refers to the estimated cost…
Q: What is the capital gains yield ? General accounting question
A: To calculate the capital gains yield, we use the following formula:Total Return=Dividend…
Q: Financial Accounting Question
A: Step 1: Definition of Cash Conversion CycleThe Cash Conversion Cycle (CCC) is a key metric used to…
Q: Omega Tech started the year with total assets of $80,000 and total liabilities of $30,000. During…
A: We have given, In beginning of the year, Total assets : $80,000Total liabilities : $30,000 Beginning…
Q: What is the gross profit for the year?
A: Step 1: Definition of Gross ProfitGross profit represents the difference between total revenue…
Q: I need correct solution of this general accounting question
A: Step 1: Define Underfunded PBOAn underfunded PBO means that the Pension Plan Assets are less than…
Q: Can you help me with accounting questions
A: Step 1: Definition of Units-of-Production DepreciationUnits-of-production depreciation is a method…
Step by step
Solved in 2 steps
- Your company has been offered credit terms on its purchases of 4/30, net 90days. What will be the nominal annual cost of trade credit if your companypays on the 35th day after receiving the invoice? (Assume a 365-day year.) Show your complete solution.Round House Furniture offers credit to its customers at a rate of 1.15 percent per month. What is the effective annual rate (EAR) on this credit offer? Can the calculator and excel solution be provided?A supplier hands you an invoice for $47,000 with the terms 4/20, net 180. a. ) What is the effective annual cost (expressed as an APR) if you forgo the discount and pay after 180 days?b. )What is the effective annual cost (expressed as an APR) if you pay after 200 days?
- The minimum gross monthly income is $14,644.28 Down payment is $20,495 Now that you know the minimum gross monthly income, research the annual percentage of this amount that you could reasonably be expected to save towards the down payment required I just need to know how to find that i did a lot of research but cant find a website of how i can find itSuncoast Boats Inc. estimates that because of seasonal nature of its business, it will borrow $5,000,000 for 70 days. Suncoast will borrow @ 9% annum using a discount loan. There will be $53,000 in up - front fees. a. Find loan amount b. Find interest. c. Find other cost/fees. d. Find compensating balance. e. Find m and period rate. f. Find Annual Percentage Rate, APR g. Find effective annual rate, EAR.Seis
- A consumer loan requires monthly payments, in equal amounts, $700.00. The next payment is due in one month. Assume that the appropriate discount rate is 21% (APR). What is the effective annual rate? (show them in excel spreadsheet, write your own present value formulas, don't use Excel built-in functions.Sam would like to use the PMT function in Excel to calculate the monthly payments on a car loan of $35,000 which is to be paid off in full after 3 years. Interest is charged at a rate of 4.43% per year and the payment to the loan is to be made at the end of each month. Which function argument is correct? (Reminder: =PMT(rate, nper, pv, [FV], [type]) =PMT( 4.43%, 36, -35000) =PMT( 4.43%/12, 36, -35000) =PMT( 4.43%/12, 3, -35000) =PMT( 4.43%, 3, -35000)Assume all sales are one-time credit sales with a probability of collection of 96 percent. The variable cost per unit is $1.67, the sales price per unit is $4.99, and the monthly interest rate is 1.35 percent. What is the NPV of a credit sale of one item? $3.18 O $2.87 O $3.38 O $2.92 O $3.06
- A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $37.17 for three-and-a-half years. The first payment is due on the date of sale and interest is 15% compounded monthly. (a) What is the purchase price? (b) How much will be paid in installments? (c) How much is the cost of financing? (d) If an additional $8.00 per month is added to cover a service contract, what is the value of the entire contract on the date of sale? a) The purchase price is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) b) The amount paid in installments will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) c) The cost of financing is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) d) The value of the entire contract on the date of sale is SAssume the credit terms offered to your firm by your suppliers are 2/15, net 30 . Calculate the cost of the trade credit if your firm does not take the discount and pays on day 30 . (Hint: Use a 365 -day year.)A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $43.02 for three-and-a-half years. The first payment is due on the date of sale and interest is 15% compounded monthly. (a) What is the purchase price? (b) How much will be paid in installments? (c) How much is the cost of financing? (d) If an additional $8.50 per month is added to cover a service contract, what is the value of the entire contract on the date of sale?