Ramsay, the ceo of a large corporation, was indicted for tax fraud. the government accused him of hiding a vast amount of the company's assets. however, he was found not guilty at trial. can the company still be liable for ramsay's conduct?
A company has net income of $187,000, a profit margin of 8.6 percent, and an accounts receivable balance of $126,370. assuming 60 percent of sales are on credit, what is the company's days' sales in receivables? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places,
e.g., 32.16.)
The company's days' sales in receivables is approximately 10.62 days.
To calculate the days' sales in receivables, there is a need to find out how long it takes, on average, for the company to collect its accounts receivable. Here's the formula:
Days' Sales in Receivables = (Accounts Receivable / (Net Income / Profit Margin)) * Number of Days in a Year
Given:
Net Income = $187,000Profit Margin = 8.6% (0.086)Accounts Receivable = $126,370Percentage of Sales on Credit = 60%Number of Days in a Year = 365First, calculate the Sales:
Sales = Net Income / Profit Margin
Sales = $187,000 / 0.086
= $2,170,930.23
Next, calculate the Average Accounts Receivable:
Average Accounts Receivable = Accounts Receivable / 2
Average Accounts Receivable = $126,370 / 2
= $63,185
Now, calculate the Days' Sales in Receivables:
Days' Sales in Receivables = (Average Accounts Receivable / Sales) * Number of Days in a Year
Days' Sales in Receivables = ($63,185 / $2,170,930.23) * 365 ≈ 10.62
Rounded to 2 decimal places, the company's days' sales in receivables is approximately 10.62 days.
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To calculate the company's days' sales in receivables, annual sales were determined from net income and profit margin. Then the credit sales were calculated considering 60% of sales are on credit. Finally, it was found that it takes the company an average of 35.30 days to collect its receivables.
Explanation:Calculating Days' Sales in Receivables
To calculate the company's days' sales in receivables, we first need to determine the annual sales. The company's net income is $187,000 with a profit margin of 8.6%. The profit margin is equal to net income divided by sales, therefore:
Sales = Net Income / Profit Margin
Sales = $187,000 / 0.086
Sales = $2,174,418.60
Assuming 60% of the sales are on credit:
Credit Sales = Total Sales * Percentage of Credit Sales
Credit Sales = $2,174,418.60 * 0.60
Credit Sales = $1,304,651.16
We can now use the accounts receivable balance to find out how many days it takes the company to collect the receivables:
Days' Sales in Receivables = (Accounts Receivable / Credit Sales) * 365
Days' Sales in Receivables = ($126,370 / $1,304,651.16) * 365
Days' Sales in Receivables = 35.30 days
This calculation tells us that on average, it takes the company 35.30 days to collect its receivables.
The partnership is liable for torts committed by any partner of the firm while engaged in partnership business under the doctrine of:
Where would you place salt production in the product–process spectrum?
Salt production is placed towards the mass production end of the product-process spectrum, involving large-scale, often automated operations to produce consistent and cost-effective products. The process includes scaling of industrial ingredients and commits to food safety and quality, aiming for efficiency and standardization.
Explanation:Placing salt production in the product-process spectrum involves understanding the spectrum as a tool used to identify where a certain production type fits based on its characteristics of volume and customization. Salt production, an industrial process, typically involves extracting salt from mines or seawater and then refining it. This sort of production activity tends to be highly automated, with a focus on achieving high volumes, consistent quality, and cost efficiency.
Considering the whole production process, beginning from moving to industrial ingredients to the scaling up of the process under plant conditions, salt production falls towards the mass production end of the spectrum. This is because it usually involves large-scale operations designed to deliver a standardized product. The economy of scale is vital, aiming to minimize costs while maximizing output.
Industrial ingredients such as raw salts are processed through stages that may involve cleaning, drying, fortifying with iodine, and other treatments to create a processable formula. The final product must adhere to food safety and quality standards and be suitable for long-term storage, handling, packaging, and shipping. During these stages, continuous process development and testing for food safety, quality, and effects of storage are crucial.
The fund whose main objective is to simply match the market is known as a(n) _____ fund.
are some natural resources more valuable than others
One type of mobile phone that is not commonly used is the ____.
Older generation mobile phones, like the mid-1990s candybar style phones, are not commonly used today. Modern smartphones have replaced them with advanced features and connectivity. Shared-phone programs in less affluent regions still play a crucial role in providing essential mobile access.
Types of Mobile Phones Not Commonly Used
One type of mobile phone that is not commonly used today is the older generation of mobile phones, such as the candybar style phones exemplified by models like the Qualcomm QCP-2700 from the mid-1990s. Compared to current production smartphones like the iPhone 4S, these older phones lack the advanced features and connectivity that modern users have come to expect. Despite the dramatic increase in mobile phone access and usage globally, with over 4.6 billion mobile cellular subscriptions as of 2010, the likelihood of encountering such outdated models in use is minimal, especially when compared to the ubiquity of advanced smartphones that offer a wide range of functionalities beyond voice calls, such as internet access, photography, and mobile computing.
In regions with shared-phone programs, such as those in Sub-Saharan Africa, the devices employed may not reflect the latest technology found in wealthier nations but are nonetheless vital for communication and economic activities. These programs often help to bridge the digital divide by providing access to mobile technology for those who cannot afford personal devices.
3 a laboratory has 4.2 million in revenues and 3.85 million in costs. what's its operating margin?
The operating margin is the portion of the revenue of a company after paying all its costs (both variable cost and fixed cost). In this problem, you are given the revenue (4.2 million) and the cost (3.85 million). To solve the operating margin, you have to deduct the cost to the revenue. Therefore, the operating margin of the laboratory is 0.35 million (4.2 million – 3.85 million).
The ________ is a fast and intuitive tool for building reports.
When several factors affect some physical quantity, what is the general strategy that you would use to determine how each factor affects that quantity?
Final answer:
To determine how several factors affect a physical quantity, it is essential to identify the relevant physical principles, list knowns and unknowns, find and apply correct equations, and maintain a conceptual understanding of the problem.
Explanation:
When several factors influence a physical quantity, a systematic approach is critical for understanding individual effects. The general strategy involves several steps:
Examine the situation to identify the physical principles involved. Drawing a simple sketch and defining a positive direction can be very helpful.Make a list of known and unknown quantities to clarify which physical principles are at play.Find and apply the equations that represent the identified physical principles. If an equation has more than one unknown, additional equations may be required to isolate and solve for the desired quantity.It's crucial to maintain a conceptual understanding of the problem beyond numerical solutions, as equations ultimately represent the inherent laws of nature and relationships among physical quantities.This methodology ensures a thorough analysis, allowing for a deeper understanding of how each factor influences the physical quantity in question, whether it be through direct mathematical relationships or more complex dependencies requiring multiple steps to unravel.
Dell computers would like to increase sales of their pdas. upper management has decided that they need to improve their position in the market by examining how consumers perceive the market. the chart below lists the ratings for dell and some of their competitors on attributes consumers have identified as important (all measures are on 1-10 scales like those used in class). based on this information, what should be dell's preferred course of action to improve its position in the market relative to its competition?
Dell should develop their customer service rating. If Dell increases its rating by 5 points on customer service, it would outcome in the new ratings for all brands to be: Dell 230 (up and about by 40 overall points), Microsoft 199, and Blackberry 196. This tactic provides Dell the highest overall assessment over other products and over other message strategy conclusions.
Dell should differentiate its PDAs by focusing on design and personalization to appeal to consumer segments that value these features. Adjusting pricing strategies based on market responsiveness and targeting emerging markets could also enhance their market position. Understanding supply and demand dynamics will aid in competing against top PDA manufacturers like Sony and Hewlett-Packard.
Strategies for Dell to Improve Market Position for PDAs
Considering the competitive landscape and consumer perception, Dell should focus its efforts on differentiating its PDAs by enhancing aesthetic appeal and personalization options. The strategy of offering laptops in unusual colors and personalized designs can be extended to PDAs to make them more attractive to consumers who value individuality and design. Moreover, embracing innovations and leveraging the price responsiveness of demand could help Dell to competitively price their PDAs and adjust to market changes. Given the market dynamics where other companies like Palm and Microsoft have established a significant presence, Dell will need to address these areas to improve their position in the market.
Additionally, by moving away from focusing solely on functional and low-cost characteristics, Dell can create a following by appealing to different consumer segments. This includes possibly targeting emerging markets in Asia or segments that are less price-sensitive but more design-conscious. Understanding and leveraging supply and demand dynamics will be crucial in making strategic decisions that enable Dell to compete effectively against other PDA manufacturers like Sony and Hewlett-Packard, which are also mentioned as leaders in the PDA market.
When inserting a new printer, check that the model number exists in product?
We write this trigger in Oracle SQL in a following way;
CREATE TRIGGER NewPrinterTrigger
AFTER INSERT ON Printer
REFERENCING
NEW ROW AS NewRow,
NEW TABLE AS NewStuff
FOR EACH ROW
WHEN (NOT EXISTS (SELECT * FROM Product
WHERE Product.model = NewRow.model))
DELETE FROM Printer
WHERE (model, color, type, price) IN NewStuff;
If lynx corp. estimates its bad debt to be 1% of net credit sales, what will be the balance in the allowance for doubtful accounts account after the adjustment for bad debts
"generally, _________ is a company's most expensive promotional tool."
The most important control for detecting credit card fraud is:
Manual handling of materials accounts for the primary source of injury in the workplace. A. False B. True
The statement that manual handling of materials accounts for the primary source of injury in the workplace is true. Manual handling includes lifting, pushing, pulling, bending . these activities are the most common reason for injury when not done properly and with the proper equipment and safe clothing.
2016 may 1 received a $5,300, 12-month, 3% note in exchange for an outstanding account receivable from r. stoney. dec. 31 accrued interest revenue on the r. stoney note. 2017 may 1 received principal plus interest on the r. stoney note. (no interest has been accrued since december 31, 2016.) record the transactions in the general journal. the company does not make entries to accrue interest except at december 31.(credit account titles are automatically indented when amount is entered. do not indent manually. record journal entries in the order presented in the problem.)
A company takes out a loan of 15,000,000 at an annual effective discount rate of 5.5%. you are given: i) the loan is to be repaid with n annual payments of 1,200,000 plus a drop payment one year after the nth payment. ii) the first payment is due three years after the loan is taken out. calculate the amount of the drop payment.
To calculate the drop payment, one would need to figure out the remaining loan balance after the n payments of $1,200,000 each. However, without the exact value of n, it's impossible to calculate the exact amount of the drop payment.
Explanation:The first step is to calculate how much of the loan would be repaid after n payments of $1,200,000 each. As the first payment starts three years after the loan, this will be for n-3 years. Using the formula for the present value of an annuity, we get PVA = C * [(1 - (1 + r)^-n) / r], where C is the annual payment, r is the discount rate, and n is the number of payments. Plugging in the given values, we get PVA = 1,200,000 * [(1 - (1 + 0.055)^-(n-3)) / 0.055]. However, we don't know the value of n.
Without knowing the exact number of annual payments (n), it isn't possible to calculate the exact amount of the drop payment. However, the drop payment would be the balance of the loan remaining after n payments of $1,200,000 each. Hence, the drop payment = loan amount - (annual payments * number of payments).
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The last 50 years of declining productivity of the commercial fish populations off the northeast coast of north america reveal the impact of
I am owed a payment of $15,000 in five years. what is my note receivable balance today if the interest rate is 7%? how much interest will i earn on the note?
Refer to the table below. what is the cumulative budgeted cost at the end of week 6? amounts are in thousands of dollars.
Describe a situation in which your ability to do a great job was prevented by a company, a peer, or a supervisor. What prevented you from being able to do your best? How could that obstacle be removed to allow you to perform at your peak?
George owns 300 shares of preferred stock in a company. by owning preferred stock, george has:
Ince your birth, your grandparents have been depositing $ 110 into a savings account every month. the account pays 1212% interest annually. immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to:
Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this examplee P = $110, i = 1212% and t = 18 years, so
III=P⋅i⋅t=110⋅12.12⋅18=23997.6Before giving you a loan or credit, lending institutions may want to know more about you to help determine whether you are a good person to give loans or credit. True False
Answer:
True
Explanation:
This statement is true.
Let us consider this case from the perspective of a lending institution. If we are to give someone a loan, we will make sure that the receiver is a person who is stable in his income and will be able to pay back the loan.
If we have two people asking for loan (assume their name as A and B). Suppose A is working a stable job with 5 years in a bakery. He has no defaultery record in his finances and has no credit due on his account. Furthermore he is taking loan to open up his own bakery. Similarly, assume B has switched 5 jobs in the last 3 years with periods of unemployment in between. He has credits due on his house rent and car payment and is taking loan to invest on an investment scheme his friend told him about.
It is easy to pick the right candidate from above information. Subject A is more stable than B and hence lenders will most likely be giving A the loan and B's application would be rejected.
what is fixed expense
Suppose a politician is in charge to spending public funds. he can give a contract to a company that is not the best bidder, or allocate more than they deserve. in this case, the company benefits, and in exchange for betraying the public, the official receives an amount of money, which is a portion of the sum the company received. a rival politician comes to know about this. he plans an exposure not for the public good but to defame the guilty party and win the votes of the electorate. this is an example of:
Final answer:
A politician accepting bribes and another exploiting this for political gain is an example of corruption and pork-barrel spending, undermining democratic processes and public trust.
Explanation:
The scenario described involves a politician who engages in corruption by accepting bribes from a company in exchange for public contracts, and another politician who seeks to expose this corruption solely for political gain. This behavior is an example of how public officials may be influenced by personal gains over the public interest, a problem that affects the integrity of democratic processes. It demonstrates the misuse of public funds, known as pork-barrel spending, where government money is spent to benefit a few while the costs are dispersed among many.
Corruption and the pursuit of personal or political advantages over public welfare are significant issues that challenge the effectiveness and trust in democratic institutions. The case mentioned in the question is a real-world example of the consequences and complexities of these unethical actions in politics.
Randy would like to set up a budget for a vacation he is taking next year. Which money management tool should Randy use?
printable graphsspreadsheetonline bankingExpensureTM
A spreadsheet.
easier to organize work and it would be easy to read, and it won't be a mess to look at.
Oddysey.
9 a company reports its 2010 cost of goods sold at $15.0 million. its ending inventory for 2010 is $1.6 million and for 2009, ending inventory was $1.2 million. how much inventory did the company purchase during 2009?
a. $14.6 million
b. $15.0 million
c. $15.4 million
d. $15.8 million
Pierre, a cash basis, unmarried taxpayer, had $2,180 of state income tax withheld during