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Problem 1: Serendipity Inc. has annual sales of $54,750,000, or $150,000 a day on a 365-day basis. The firm's cost of goods sold is 75% of sales. On average, the company has $13,500,000 in inventory and $12,000,000 in accounts receivable. The firm is looking for ways to shorten its cash conversion cycle. Its CFO has proposed new policies that would result in a 20% reduction in both average inventories and accounts receivable. She also anticipates that these policies would reduce sales by 10%, while the payables deferral period would remain unchanged at 35 days. What effect would these policies have on the company's cash conversion cycle? Round to the nearest whole day.
a. Which of the following is a characteristic of information provided by external financial reports? 1. The information is exact and not subject to change.
Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over 15 years, calculate the corporation deduction
Find What is the present value of these receipts if you earn six percent compounded annually? Use Excel or a financial calculator for computation.
ABC accepted returns worth P1,350 and wrote-off assigned accounts totalling P2, 980. How much cash did ABC receive from DEF
Faith Evans Corporation is a regional company which is an SEC registrant. Prepare the journal entry to record Evans' transaction, under the following condition
Using the acquisition method, calculate the acquisition-date fair value of Amsterdam to be included in Morey's June 30 consolidated financial statements
Judi Dench is a licensed dentist. Journalize the transactions. Post to the ledger accounts. Prepare a trial balance on April 30, 2014.
fixed overhead 72 000 variable overhead 3 per direct labour hour budgeted direct labour hours 15 000the actual fixed
Companies are often organized into departments by functions, such as operations, marketing, sales, corporate headquarters, etc. Typically, each one of these departments is then assigned specific responsibilities and referred to as either a cost ce..
on february 1 2013 arrow construction co. entered into a three year construction contract to build a bridge for a price
Management are unwillingly to alter the date as it would then conflict with the internal management sales reports. What audit opinion would you issue, and why
Find the value of the volatility parameter at which the Black and Scholes price equals the observed actual market price for each option
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