1) The Up-Towner has sales of $913,400, costs of goods sold of $579,300, invento
ID: 2383274 • Letter: 1
Question
1) The Up-Towner has sales of $913,400, costs of goods sold of $579,300, inventory of $187,400, and accounts receivable of $78,900. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
A 106.46 days
B 84.69 days
C 121.07 days
D 118.08 days
E 74.19 days
2) Nielsen Auto Parts had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets with a combined book value of $6,943 were sold. Depreciation for the year was $42,822. What is the amount of net capital spending?
A $65,161
B $58,218
C $67,408
D $40,706
E $33,763
3) Your broker is offering 1.2 percent compounded daily on its money market account. If you deposit $7,500 today, how much will you have in your account 15 years from now?
A $9,414.14
B $8,204.50
C $9,714.06
D $9,336.81
E $8,979.10
4)Your parents have made you two offers. The first offer includes annual gifts of $10,000, $11,000, and $12,000 at the end of each of the next three years, respectively. The other offer is the payment of one lump sum amount today. You are trying to decide which offer to accept given the fact that your discount rate is 8 percent. What is the minimum amount that you will accept today if you are to select the lump sum offer?
A $29,407
B $29,367
C $30,691
D $30,439
E $28,216
5)You have been investing $250 a month for the last 13 years. Today, your investment account is worth $73,262. What is your average rate of return on your investments?
A 8.94 percent
B 9.78 percent
C 9.23 percent
D 9.41 percent
E 9.36 percent
6)You are buying a pre-owned car today at a price of $8,500. You are paying $300 down in cash and financing the balance for 36 months at 7.75 percent. What is the amount of each monthly loan payment?
A $256.01
B $265.37
C $284.40
D $312.23
E $318.47
7) What is the effective annual rate of 14.9 percent compounded continuously?
A 15.62 percent
B 15.84 percent
C 16.07 percent
D 15.59 percent
E 15.69 percent
1) The Up-Towner has sales of $913,400, costs of goods sold of $579,300, inventory of $187,400, and accounts receivable of $78,900. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?
A 106.46 days
B 84.69 days
C 121.07 days
D 118.08 days
E 74.19 days
2) Nielsen Auto Parts had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets with a combined book value of $6,943 were sold. Depreciation for the year was $42,822. What is the amount of net capital spending?
A $65,161
B $58,218
C $67,408
D $40,706
E $33,763
Explanation / Answer
As per chegg guidelines we answer 1 question per post. But I have answered 2 questions.Kindly post the remaining questions in next post 1) D118.08 Days Cost of goods sold 579,300.00 Inventory 187,400.00 Invetory turnover ratio =COGS/Inventory 3.09 No of days it atke to sell inventory assuming 365 days in year = 365/3.09 118.08 2) Beginning Fixed Assets 218,470.00 Ending Fixed assets 209,411.00 Sale of Fixed Assets 6,943.00 Depreciation 42,822.00 Net Capital spending(Closing FA- Opening FA+ Depreciation + Sale of FA) 40,706.00
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