Solomon company reports the following in its most recent year of operations: sales, $1,000,000 (all on account) cost of goods sold, $490,000 gross profit, $510,000 accounts receivable, beginning of year, $110,000 accounts receivable, end of year, $140,000 merchandise inventory, beginning of year, $55,000 merchandise inventory, end of year, $60,000. based on these balances, compute: the accounts receivable turnover. the inventory turnover.

Accounts receivable turnover = 8 times

Inventory turnover = 8.5 times

Explanation:

The computations are shown below:

1. Accounts receivable turnover ratio:  

= Credit sales ÷ average accounts receivable

where,  

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($110,000 + $140,000) ÷ 2

= $125,000

And, the net credit sale is $1,000,000

Now put these values to the above formula  

So, the answer would be equal to  

= $1,000,000 ÷ $125,000

= 8 times

2. Inventory turnover ratio:

= Cost of goods sold ÷ average inventory

where,  

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

= ($55,000 + $60,000) ÷ 2

= $57,500

And, the cost of good sold is $490,000

Now put these values to the above formula  

So, the answer would be equal to  

= $490,000 ÷ $57,500

= 8.5 times

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

answer; property tax payment made in july and december;