Answer and Explanation:
a. The preparation of the contribution margin income statement is presented below
Sales (36,300 × $400) $14,520,000
Less: variable cost (36,300 × $224) $8,131,200
Contribution margin $6,388,800
Less: fixed cost - $5,935,750
net income $453,050
b. The break even point is
In units
= Fixed cost ÷ contribution margin per unit
= $5,935,750 ÷ ($400 - $224)
= 33,726 units
In dollars
= Fixed cost ÷ contribution margin ratio
= $5,935,750 ÷ ($176 ÷ $400)
= $13,490,341
c. The margin of safety
In units
= Total sales units - break even units
= 36,300 - 33,726
= 2,574 units
In dollars
= Total sales - break even sales
= $14,520,000 - $13,490,341
= $1,029,659
Natural gas is often priced in units of dollars per therm. One therm equals 100,000 BTUs . A certain family uses 600 therms of energy to heat its home annually using a natural gas furnace that is 80 percent efficient. The family is considering replacing its current furnace with one that is 96 percent efficient. Assuming the cost of a therm is $0.30.
Required:
What would be the family's annual savings in the cost of home heating?
Answer:
-$28.8.
Explanation:
Note, we were told,
to assume the cost of a therm is $0.30the family uses 600 therms of energy annually.Savings on old furnace:
600 * $0.30 * 0.80 (or written as 80%) = $144Savings on new furnace:
600 * $0.30 * 0.96 (or written as 96%) = $172.8Difference: $144 - $172.8 = -$28.8.
The family's annual savings in the cost of home heating will be (-$28.8).
Here, we are assuming the cost of a therm is $0.30 and that the family uses 600 therms of energy annually.
The savings on the old furnace equals:
= 600 * $0.30 * 0.80
= $144
Hence, the savings on old furnace: is $144.
The savings on new furnace equals:
= 600 * $0.30 * 0.96
= $172.8
Hence, the savings on old furnace is $172.8.
In conclusion, the family's annual savings in the cost of home heating will be (-$28.8).
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In the month of November, Oriole Company Inc. wrote checks in the amount of $10,410. In December, checks in the amount of $11,075 were written. In November, $8,245 of these checks were presented to the bank for payment, and $10,700 in December. There were no outstanding checks at the beginning of November. What is the amount of outstanding checks at the end of November
Answer: $2165
Explanation:
Based on the information given, the amount of outstanding checks at the end of November will be the difference between the amount of checks written in November and the amount of checks that were presented to the bank for payment. This will be:
= $10,410 - $8245
= $2165
Therefore, the answer is $2165.
Sandy is considering moving from her apartment into a small house with a fenced yard. The apartment is noisy, and she has difficulty studying. In addition, the fenced yard would be great for her dog. The distance from school is about the same from the house and from the apartment. The apartment costs $750 per month, and she has 2 months remaining on her lease. The lease cannot be broken, so Sandy must pay the last 2 months of rent whether she lives there or not. The rent for the house is $450 per month, plus utilities, which should average $100 per month. The apartment is furnished; the house is not. If Sandy moves into the house, she will need to buy a bed, dresser, desk, and chair immediately. She thinks that she can pick up some used furniture for a good price. Which of the following costs is irrelevant to Sandy's decision to stay in the apartment or move to the house?
a. House rent of $450 per month.
b. Utilities for the house of $100 per month.
c. The noise in the apartment house.
d. The cost of the used furniture.
Answer:
Noise in the apartment house
Explanation:
Costs are units or monetary value which are incurred/spent on taking a certain action. It is often quantitative in nature that is something that can be measured. Although noise is a factor which can affect Sandy's decision of moving from the apartment, it cannot be considered as a cost. Noise of the apartment is a qualitative factor. It does not have an intrinsic monetary value. Thus, in this regard it is an irrelevant cost for Sandy's decision to stay in the apartment or move to the house.
The other options have a monetary value and thus they are relevant for Sandy's decision.
Which situation(s) would be considered unethical design practices?
Select all that apply.
copying a design idea
making false claims about a product
designing a political campaign
using your own photographs
Answer:
I think A
Explanation:
copying a design idea
On January 1, 2016, Telespace Inc. grants 6 million non-qualified stock options to its employees. The stock options have exercise price of $20, which is equal to the grant-date price. All options will vest in three years. The grant date fair value of the options is $15 per option. All 6 million options are expected to vest. On January 1, 2019, all 6 million vested options are exercised when the stock price is $50. The applicable tax rate for all periods is 40%. The company has sufficient taxable income for the stock option tax deductions to reduce income taxes payable in all periods.
How much compensation expense should Telespace recognize for the year of 2016?
Answer:
$30,000,000
Explanation:
compensation expense = total number of stocks granted x grant date value = 6,000,000 x $15 = $90,000,000
this expense will be allocated proportionally during the vesting period = $90,000,000 / 3 years = $30,000,000 per year
compensation expense per year (2016, 2017, 2018) = $30,000,000
Snow White Frame Company's cost formula for its supplies cost is $1,740 per month plus $8 per frame. For the month of March, the company planned for activity of 614 frames, but the actual level of activity was 620 frames. The actual supplies cost for the month was $6,850. The activity variance for supplies cost in March would be closest to:
Answer:
$48 U
Explanation:
Calculation to determine what The activity variance for supplies cost in March would be closest to:
First step is to calculate the Planning supply activity cost
Planning supply activity cost = (614 × $8) +$1,740
Planning supply activity cost = 4,912+$1740
Planning supply activity cost = $6652
Second step is to calculate the Actual supply activity cost
Actual supply activity cost = (620 × $8) + $1,740
Actual supply activity cost =4960+$1,740
Actual supply activity cost =$6,700
Now let calculate the Activity variance for supplies cost using this formula
Activity variance for supplies cost = Actual activity cost – Planning activity cost
Let plug in the formula
Activity variance for supplies cost= $6,700 - $6,652
Activity variance for supplies cost= $48 Unfavorable
Therefore The activity variance for supplies cost in March would be closest to:$48 U
Sheridan Company makes and sells widgets. The company is in the process of preparing its selling and administrative expense budget for the month. The following budget data are available: Item Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions $1 $10000 Shipping $3 Advertising $4 Executive salaries $120000 Depreciation on office equipment $4000 Other $2 $6000 Expenses are paid in the month incurred. If the company has budgeted to sell 94000 widgets in October, how much is the total budgeted selling and administrative expenses for October
Answer:
$1,080,000
Explanation:
Calculation to determine how much is the total budgeted selling and administrative expenses for October
October Total budgeted selling and administrative expenses=
[($1 + $3 + $4 + $2) x 94,000] + ($10,000 +
$120,000 + $4,000 + $6,000)
October Total budgeted selling and administrative expenses=(10*94,000)+$140,000
October Total budgeted selling and administrative expenses=$940,000+$140,000
October Total budgeted selling and administrative expenses=$1,080,000
Therefore the total budgeted selling and administrative expenses for October is $1,080,000
if you are going to create or own a business, what would it ? List at least 3 and cite your reasons why you have listed them.
Answer:
Milktea shop, coffee shop, computer shop
Explanation:
hope this helps
Marketing managers must choose between the various forms of advertising media available as they develop their communication plans.
a. True
b. False
Answer:
true
Explanation:
Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity Unit Cost Unit Replacement Cost Unit Selling Price A 1,000 $ 14 $ 16 $ 20 B 800 19 15 22 C 700 7 6 12 D 600 11 8 10 E 800 18 16 17 The cost to sell for each product consists of a 15 percent sales commission. The normal profit for each product is 35 percent of the selling price. Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.
Answer:
Forester Company
1. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to individual products, is:
= $47,800
2. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory, is:
= $49,800
3. Assuming inventory write-downs are common for Forester, the necessary year-end adjusting entry based on requirement 2 is:
Debit Cost of goods sold (Inventory write-down) $5,200
Credit Inventory $5,200
To write down the inventory value from $55,000 (purchase costs) to $49,800 (replacement costs).
Explanation:
a) Data and Calculations:
Product Quantity Unit Cost Unit Replace- Unit Selling LCM Value
ment Cost Price
A 1,000 $ 14 $ 16 $ 20 $14,000 ($14*1,000)
B 800 19 15 22 12,000 ($12*800)
C 700 7 6 12 4,200 ($6*700)
D 600 11 8 10 4,800 ($8*600)
E 800 18 16 17 12,800 ($16*800)
Total 3,900 $47,800
Total costs = (1,000*$14 + 800*$19 + 700*$7 + 600*$11 + 800*$18)
= ($14,000 + 15,200 + 4,900 + 6,600 + 14,400)
= $55,000
Tota replacement costs = (1,000*$16 + 800*$15 + 700*$6 + 600*$8 + 800*$16)
= ($16,000 + 12,000 + 4,200 + 4,800 + 12,800)
= $49,800
Total market value = (1,000*$20 + 800*$22 + 700*$12 + 600*$10 + 800*$17)
= ($20,000 + 17,600 + 8,400 + 6,000 + 13,600)
= $65,600
Total cost = $55,000
Total replacement cost = $49,800
Inventory write-down = $5,200
The stage of Bruce Tuckman’s group decision-making process in which the members express their individual needs and opinions is ________.
The needs of the individual and the opinion should be mandatory.
What is the stage of Bruce Tuckman’s group?In the year 1965, Bruce Tuckman is psychologist mentioned that the team should go via five stages of development i.e. forming, norming, storming, performing, and adjourning. The stages begin from the time when the group should be first meeting till the end of the project.
hence, The needs of the individual and the opinion should be mandatory.
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Testbank Multiple Choice Question 88 Concord Corporation, has 14300 shares of 4%, $100 par value, cumulative preferred stock and 59400 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $116000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Answer:
$60,400
Explanation:
Calculation to determine the amount of dividends received by the common stockholders in 2021
2021 Dividend received =($116,000*2)-[(14,300 × $100 × .04)×3]
2021 Dividend received =$232,000-($57,200×3)
2021 Dividend received =$232,000-$171,600
2021 Dividend received =$60,400
Note that 2020 and 2021 will give us 2 years; 2019,2020and 2021 will give us 3 years
Therefore the amount of dividends received by the common stockholders in 2021 will be $60,400
Decca Publishing paid $230,000 to acquire Thrifty Nickel, a weekly advertising paper. At the time of the acquisition, Thrifty Nickel balance sheet reported total assets of $130,000 and liabilities of $70,000. The fair market value of Thrifty Nickels assets was $100,000. The fair market value of Thrifty Nickel liabilities was $70,000.
Required:
a. How much goodwill did Decca Publishing purchase as part of the acquisition of Thrift Nickel?
b. Journalize Decca Publishing's acquisition of Thrifty Nickel.
Answer:
Part a
$200,000
Part b
Debit : Investment in subsidiary $230,000
Credit : Cash $230,000
Explanation:
Goodwill is the excess of the Purchase Price over the Net Assets taken over at the acquisition date.
Assets and liabilities are taken over at their acquisition date Fair Values instead of Book Values so be sure to adjust any items shown at Book Value.
Net Assets = Assets at Fair Value - Liabilities at Fair Value
= $100,000 - $70,000
= $30,000
Goodwill = Purchase Price - Net Assets Taken over
= $230,000 - $30,000
= $200,000
How can social media help employers during the hiring process ? Check all that apply
Social Media often provides a place for employers to begin their search, social media can fill in gaps on resumes or provide additional details, some sites can be a platform for recruiters to promote job openings.
Explanation: just got it right e2020
Employers frequently start their search on social media; it can complete information gaps on resumes or provide new information, and some sites can be used as a platform by recruiters to advertise job openings.
What is media?The term media, which is the word form of medium, refers to the human activity channels through which we disseminate news, music, movies, education, promotional messages, and other data This can include anything from black and white paper to digital data and includes art, news, educational content and numerous other forms of information.
Social media sites can be used to advertise job openings, find prospects, and confirm applicant backgrounds. Promote your employer brand. Sharing media about corporate values and employee events can assist build an employer brand to draw potential employees and clients.
Social media platforms provide human resources hiring departments with significantly more candidate information than they would have otherwise had at their fingertips. Employers have typically been restricted to the data that candidates include on their paper resumes.
Therefore, Thus option (B) is correct.
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e the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $34,006 Accounts receivable 73,344 Accrued liabilities 6,760 Cash 17,227 Intangible assets 43,450 Inventory 88,373 Long-term investments 92,820 Long-term liabilities 79,618 Notes payable (short-term) 28,798 Property, plant, and equipment 675,759 Prepaid expenses 1,646 Temporary investments 34,230 Based on the data for Harding Company, what is the amount of quick assets?
Answer:
The amount of quick assets is $126,447.
Explanation:
Quick assets can be described as the most highly liquid assets of a company.
The amount of quick assets can be calculated for Harding Company as follows:
Amount of quick assets = Accounts receivable + Cash + Prepaid expenses + Temporary investments = $73,344 + $17,227 + $1,646 + $34,230 = $214,820 = $126,447
A-Z Technologies, a manufacturer of amplified pressure transducers, is trying to decide between a dual-speed and a variable-speed machine. The engineers are not sure about the salvage value of the variable-speed machine, so they have asked several different used-equipment dealers for estimates. The results can be summarized as follows: there is a 35% chance of getting $21,500; a 41% chance of getting $22,000; and a 13% chance of getting $36,000. Also, there is an 11% chance that the company may have to pay $7,000 to dispose of the equipment. Calculate the expected salvage value.
Answer:
Expected salvage value = $20455
Explanation:
The expected salvage value of the machine can be calculated by multiplying the expected salvage values by their relative probabilities and then summing up the resulting values. The following formula can be used,
Expected salvage value = pA * svA + pB * svB + ... + pN * svN
Where,
p represents the probability of each scenariosv represents the salvage value under each scenarioA, B, ... , N represents scenario A, B, ... , till Nth number of scenarioExpected salvage value = 0.35 * 21500 + 0.41 * 22000 + 0.13 * 36000 +
0.11 * -7000
Expected salvage value = $20455
Problem solving and critical thinking are ______ because they use logic and reasoning to develop and evaluate options
A bookkeeper prepared the year-end financial statements of Giftwrap, Inc. The income statement showed net income of $22,300, and the balance sheet showed ending retained earnings of $90,500. The firm's accountant reviewed the bookkeeper's work and determined that adjustments should be made that would increase revenues by $5,900 and increase expenses by $8,800.
Required:
Calculate the amounts of net income and retained earnings after the preceding adjustments are recorded.
Answer:
• Net income $19,400
• Retained earnings $87,600
Explanation:
With regards to the above,
Net income before adjustments
$22,300
Add: Increase in revenue
$5,900
Less: Increase in expenses
($8,800)
Net income after adjustment
$19,400
Retained earnings before adjustment
$90,500
Less: Decrease in net income ($22,300 - $19,400)
($2,900)
Retained earnings after adjustment
$87,600
Which of the following is true about duration and modified duration?
I. The Macaulay duration calculates the weighted average time before a bondholder would receive the bond's cash flows.
II. Modified duration measures price sensitivity of a bond to changes in YTM by adjusting duration with a factor based on current yield.
III. The value of duration and modified duration are usually very close, but duration is almost always a larger number.
a. Only I and II are true.
b. All but IV are true.
c. Only II and III are true.
d. All are true.
Answer:
The truth about Macaulay Duration and Modified Duration is:
d. All are true.
Explanation:
Principally, the Macaulay Duration, used mainly with immunization strategies, measures the weighted average time an investor holds a bond until the period when the present value of the bond’s cash flows equals to the initial bond amount.
On the other hand, the Modified Duration, providing a risk measure by being sensitive to interest rates, identifies the amount by which the duration changes for each percentage change in the yield and, at the same time, measures how the amount of a change in the interest rates impacts a bond's price.
Presented below is information related to equipment owned by Novak Company at December 31, 2020.
Cost $11,250,000
Accumulated depreciation to date 1,250,000
Expected future net cash flows 8,750,000
Fair value 6,000,000
Assume that Novak will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years.
Required:
Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020.
Answer:
Debit : Impairment loss $1,250,000
Credit : Accumulated impairment loss $1,250,000
Explanation:
Impairment of an asset happens when, the Carrying Amount of an Asset is greater than the Net Realizable Value of an asset.
Carrying Amount is Cost of asset less Accumulated depreciation. Carrying Amount for the equipment is $10,000,000 ($11,250,000 - $1,250,000).
The Net Realizable Value of an asset is the higher of Fair Value of Asset and Future Value. For the equipment the Net Realizable Value is $8,750,000
Then, since Carrying Amount ($10,000,000) > Net Realizable Value ($8,750,000), the equipment is impaired.
Impairment loss will be $1,250,000 ($10,000,000 - $8,750,000).
The journal entry to record the impairment loss would be :
Debit : Impairment loss $1,250,000
Credit : Accumulated impairment loss $1,250,000
You manage an equity fund with an expected risk premium of 10% and an expected standard deviation of 15%. The rate on Treasury bills (risk-free rate) is 5%. Your client chooses to invest $60,000 of her portfolio in your equity fund and $40,000 in a T-bill money market fund.
Required:
What is the expected return and standard deviation of return on your client's portfolio?
Answer:
Portfolio expected return = 8%
Portfolio SD = 9%
Explanation:
Portfolio return is a function of the weighted average return of each stock or asset invested in the portfolio. The mean return on portfolio can be calculated using the following formula,
Portfolio return = wA * rA + wB * rB + wN * rN
Where,
w represents the weight of each stock or asset in the portfolior represents the return of each stock or asset in the portfolioTotal investment in portfolio = 60000 + 40000 = 100000
Portfolio return = 60000/100000 * 10% + 40000/100000 * 5%
Portfolio return = 8%
The standard deviation of a portfolio containing one risky and one risk-free asset is calculated by multiplying the standard deviation of the risky asset by its weight in the portfolio. So, portfolio standard deviation will be,
Portfolio SD = 60000/100000 * 15%
Portfolio SD = 9%
Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 200,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $ 75 Factory overhead $ 800,000 Direct labor 115 Selling and admin. exp. 1,200,000 Factory overhead 30 Selling and admin. exp. 20 Total $240 Willis Products desires a profit equal to a 20% rate of return on invested assets of $12,000,000. a. Determine the total manufacturing costs for the production and sale of 200,000 units
Answer:
Total production cost= $44,800,000
Explanation:
Giving the following formula:
Direct materials $ 75
Factory overhead $ 800,000
Direct labor 115
Factory overhead 30
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Total production cost= 800,000 + 200,000*(75 + 115 + 30)
Total production cost= $44,800,000
n March 2021, the Phillips Tool Company signed two purchase commitments. The first commitment requires Phillips to purchase inventory for $103,000 by June 15, 2021. The second commitment requires the company to purchase inventory for $153,000 by August 20, 2021. The company's fiscal year-end is June 30. Phillips uses a periodic inventory system. The first commitment is exercised on June 15, 2021, when the market price of the inventory purchased was $86,500. The second commitment was exercised on August 20, 2021, when the market price of the inventory purchased was $121,500. Required: Prepare the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments. Assume that the market price of the inventory related to the outs
Answer:
1.June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
Dr Estimated liability on purchase commitment $11,800
Cr Cash $153,000
Explanation:
Preparation of the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments
1. June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
($103,000-$86,500)
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
($141,200-$121,500)
Dr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
Cr Cash $153,000
Henna Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 56,000 units of each product. Sales and costs for each product follow.
Product T Product O
Sales $929,600 $929,600
Variable costs 650,720 185,920
Contribution margin 278,880 743,680
Fixed costs 132,880 597,680
Income before taxes 146,000 146,000
Income taxes (32% rate) 51,100 51,100
Net income $94,900 $94,900
Required:
Compute the break-even point in dollar sales for each product.
Answer:
Henna Co.
Break-even point in dollar sales:
= Total costs = Sales revenue
Product T Product O
Break-even point (sales dollars) = $783,600 $783,600
Explanation:
a) Data and Calculations:
Product T Product O
Sales $929,600 $929,600
Variable costs 650,720 185,920
Contribution margin 278,880 743,680
Fixed costs 132,880 597,680
Income before taxes 146,000 146,000
Income taxes (32% rate) 51,100 51,100
Net income $94,900 $94,900
Break-even point in dollar sales:
= Total costs = Sales revenue
Product T Product O
Variable costs $650,720 $185,920
Fixed costs 132,880 597,680
Total costs 783,600 783,600
Sales revenue $783,600 $783,600
If government expenditure rises by $27.5 billion and the multiplier in the economy is 2.5, then: ___________
a. real GDP falls by $55 billion, and the IS curve shifts to the left.
b. real GDP rises by $27.5 billion, and the IS curve shifts to the right.
c. real GDP rises by $68.75 billion, and the IS curve shifts to the right.
d. real GDP falls by $11 billion, but the IS curve does not shift.
Answer:
c. real GDP rises by $68.75 billion, and the IS curve shifts to the right.
Explanation:
An increase in the government expenditure will result in the rise of real GDP. This will result in the IS curve to shift to the right. However, in the case of multiplier effect, this occurrence causes a bigger increase in the national income due to the initial injection into the economy.
Therefore, the rise in government expenditure by $27.5 billion will cause real GDP to rise. Ultimately options A and D are eliminated as they mention fall in GDP.
Moreover, since the multiplier in the economy is 2.5, this will increase the government expenditure to $68.75 billion (27.5 billion x 2.5). Hence, option C is correct.
Jamal is a web designer working on an e-commerce website for a client. He is looking for information regarding the buying habits of 50- to 60-year-old males who have no children. What sources are considered reliable?
Select all that apply.
published marketing survey
government data
blogs
Wikipedia
The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 158,800 $ 123,000 Accounts receivable 84,000 95,000 Inventory 98,000 83,000 Investments 4,300 2,300 Long-term assets: Land 510,000 510,000 Equipment 820,000 700,000 Less: Accumulated depreciation (458,000 ) (298,000 ) Total assets $ 1,217,100 $ 1,215,300 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 102,000 $ 88,000 Interest payable 7,500 12,300 Income tax payable 9,500 5,300 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock 730,000 730,000 Retained earnings 268,100 179,700 Total liabilities and stockholders' equity $ 1,217,100 $ 1,215,300 Additional information for 2021: Net income is $88,400. Sales on account are $1,628,900. Cost of goods sold is $1,230,800. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.)
Answer:
Missing word: "a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio d. Debt-equity ratio"
a. Receivable turover ratio = Net credit sales/ Average receivbles
= $1,628,900/ (($84000+$95000)/2)
= $1,628,900 / $89,500
= 18.2 Times
b) Inventory Turnover ratio = Cost of goods sold / Average inventory
= $1,230,800/ (($98,000+$83,000)/2)
= $1,230,800/$90,500
= 13.6 Times
c) Current ratio = Current assets / Current liabilities
= ($158,000+$84,000+$98,000+$4,300) / ($102,000+$7,500+$9,500
= $344,300/$119,000
= 2.893277311
= 2.89 to 1
d) Acid test ratio = ( Current assets - Inventory ) / Current liabilities
= ($344,300 - $98,000) / $119,000
= $246,300 / $119,000
= 2.0697478992
= 2.07
e) Debt-equity ratio = Total Liability (Current + Non-current) / Stockholders' equity
= ($119,000+$100,000) / ($730,000+$268,100)
= $219,000 / $998,100
= 0.2194169
= 22%
Which of the following is not a characteristic of advances in order pick technology
Answer:
I don't see an attachment
Explanation:
You should make another question with the picture
According to the video, what qualities are needed by Merchandise Displayers and Window Trimmers? Check all that
apply
O creativity
O leadership
O marketing skills
ability to work under pressure
O research skills
O ability to speak clearly
Answer:
he/she is correct
Explanation:
i can verify
The qualities needed by Merchandise Displayers and Window Trimmers are creativity, marketing skills, and the ability to work under pressure.
Retail merchandise displays are set up for maximum impact by merchandise displayers and window trimmers, who also need the ability to multitask under time constraints.
The purpose of merchandise displays is to draw in and entice customers by giving a special presentation of a store's merchandise. To achieve this requirement, they must have strong marketing abilities that enable them to interact with clients successfully.
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Maria, a citizen and resident of Mexico, received the following investment income during 2018: $1,000 of dividend income from ownership of stock in a U.S. corporation, $2,000 interest from a bond issued by a U.S. corporation, $3,000 of rental income from property located in the United States, and $500 capital gain from sale of a stock in a U.S. corporation. How much of Maria’s income will be subject to U.S. taxation in 2018?
Answer: $6,000
Explanation:
Maria is a citizen and resident of Mexico so the only way the U.S. can tax Maria is by taxing income that is in U.S. jurisdiction before it comes to Maria.
This will include the dividend from ownership of stock in a U.S. Corporation, the interest from a U.S. company issued bond and rental income from a property located in the U.S.
The U.S. will be unable to tax the capital gain from sale of stock however because the sale might not be conducted in the U.S.
Income subject to U.S. taxation is therefore:
= 1,000 + 2,000 + 3,000
= $6,000