Answer:
The correct answer for you question is $53, 300, 000
Explanation:
I have attached the complete question for you refrence.
Answer : $53,300,000
Explanation:
Equity investment in Safestyle: Amount $'m
Year 2019:
Cash 50
add: Net Income 2019. 3
less: Impairment of Goodwill 2019 -1
Closing Balance 2019. 52
Year 2020:
Opening Balance 2020 52
add: Net Income 2020 1.8
less: Impairment of Goodwill 2020 -0.5
Closing Balance 2020 53.3
Answer:
The firm's receivable turnover is 20 times
Explanation:
The computation is shown below:
Accounts receivable turnover ratio = (Credit sales ÷ average accounts) receivable
where,
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($0 + $50,000) ÷ 2
= $25,000
And, the net credit sale is $500,000
Now put these values to the above formula
So, the answer would be equal to
= ($500,000 ÷ $25,000)
= 20 times
And, the average collection period in days = Total number of days in a year ÷ accounts receivable turnover ratio
= 360 days ÷ 20
= 18 days
Answer:
Price floor and binding
Explanation:
If there are many teenagers who would like to work at grocery stores, but they are not hired due to minimum-wage laws, <u>this will be an example of a price floor.</u>
<u>A price floor is a government imposed minimum price</u> and because the grocery store will like to pay teenagers less, although the teenagers might be willing to accept whatever they will be offered as wages, <u>the groceries still cannot employ them because minimum wage is binding.</u>
