10 points Save Answer On its most recent financial statements, Gevelyn Inc. reported net sales of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
10 points Save Answer On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000, and accounts payable of $58,000. Gevelyn's COGS are 80% of its net sales. What is Gevelyn's days of sales in inventory? Round to two decimal places (Ex. 0.00). Question 7 10 points What is the cost of an unsecured bank loan of $400,000 with a 13% compensating balance and interest rate of 6% per year, borrowed for 180 days? The loan requires discounted interest. Assume a 360 day year. Submit your answer as a percentage and round to two decimal places (Ex. 0.00%). Question 6 Sa 10 points Save Answer On its most recent financial statements, Gevelyn Inc. reported net sales of $571,000, accounts receivable of $75,000, inventories of $66,000, and accounts payable of $58,000. Gevelyn's COGS are 80% of its net sales. What is Gevelyn's days of sales in inventory? Round to two decimal places (Ex. 0.00). Question 7 10 points What is the cost of an unsecured bank loan of $400,000 with a 13% compensating balance and interest rate of 6% per year, borrowed for 180 days? The loan requires discounted interest. Assume a 360 day year. Submit your answer as a percentage and round to two decimal places (Ex. 0.00%). Question 6 Sa
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below 7 COGS ... View the full answer
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt, Eugene F. Brigham
Posted Date:
Students also viewed these finance questions
-
In 2003, Best Buy Co. reported net sales of $20,946 million. Its gross profit was $5,236 million. What was the amount of Best Buys cost of merchandise sold?
-
An Israeli drug company (IDC) reported Net Sales of $9,408 million for the year ended December 31, Year 7. Based on IDCs financial reports for fiscal Year 7, the cost of these sales was $6,531...
-
In 2015, Shaw Communications Inc. reported net sales of $5,488 million, net income of $880 million, and average total assets of $13,907 million. In 2014, its net sales were $5,421 million, net income...
-
The Chief Financial Officer at Ford Motor Company is said to usea hybrid-costing system. Define the hybrid-costing system. Explainthe advantages to this company to use this system. I want a 10 page 2...
-
The All Day Company is currently holding $690,000 in cash. It projects that over the next year its cash outflows will exceed cash inflows by $140,000 per month. How much of the current cash holdings...
-
The results of a recent survey indicate that the average new car costs $23,000 with a standard deviation of $3,500. The price of cars is normally distributed. a. If someone bought a car for $32,000,...
-
Draw a free-body diagram for a book lying motionless on the floor.
-
Plant assets often require expenditures subsequent to acquisition. It is important that they be accounted for properly. Any errors will affect both the balance sheets and income statements for a...
-
Using the Information provided, fill in the missing table values. 1. a) Original table bl X -5 -1 2 4 X Y -376 -4 23 23 191 2186 y X Original table Inverse table Inverse table -23 5 -11 29 17 -7 D -4...
-
The pesticide Atrazine (C 8 H 14 C1N 5 , mol wt. 216 g/ mol) degrades in soil by a first-order reaction process. Consider the situation shown in the figure below, where there is a spill of solid...
-
You are considering two possible projects (Project A and Project B) that would start at the beginning of 2020. Your boss has indicated that she only wants to select one of these projects given...
-
What is the market value of the debt Consider the following company, Book Value of Debt YTM Coupon Coupon Payments Years Corporate Tax Rate # of Preferred Shares Price of Preferred Share Dividend per...
-
A fitness instructor wants to find out the number of students who are underweight, ideal, overweight, and obese. The BMI (Body Mass Index) is a common tool for deciding whether a person has an...
-
You are to develop a simple Binary Search Tree ADT and run it against a test program. Avoid the temptation of finding code online. I am aware of all the available solutions and will be looking...
-
3kg of block is shot on the frictionless inclined plane from an initial position that is distance d=65 cm from the end of relaxed spring with spring constant, k=1200N/m. Block hits the spring and...
-
Consider the following financial statements for BestCare, a not-for-profit health insurer. BestCare Health Insurer Statement of Operations, Year Ended June 30, 2016 (in Thousands) Revenue Healthcare...
-
a)Refer to the triangle below. If side R-25 inches, side Z-40 inches, and angle A-36, find the area of the triangle. (Ans. 293.9 sq. in) b)Refer to the triangle below (separate case from part a)....
-
A container holds 2.0 mol of gas. The total average kinetic energy of the gas molecules in the container is equal to the kinetic energy of an 8.0 10-3-kg bullet with a speed of 770 m/s. What is the...
-
Look at your NPV profile graph without referring to the actual NPVs and IRRs. Which franchise or franchises should be accepted if they are independent? Mutually exclusive? Explain. Are your answers...
-
(1) Define the term internal rate of return (IRR). What is each franchises IRR? (2) How is the IRR on a project related to the YTM on a bond? (3) What is the logic behind the IRR method? According to...
-
What is the Efficient Markets Hypothesis, what are its three forms, and what are its implications?
-
Logan is conducting an economic evaluation under inflation using the then-current approach. If the inflation rate is \(j\) and the real time value of money rate is \(d\), which of the following is...
-
True or False: Inflation decreases the purchasing power of money.
-
True or False: The most commonly used measure of inflation is the relative change in the Consumer Price Index.
Study smarter with the SolutionInn App