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harina [27]
3 years ago
7

Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 a

nd $116,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017. (Round your answer to two decimal places.)
A. 2.46 times
B. 2.05 times
C. 0.49 times
D. 1.16 times
Business
1 answer:
monitta3 years ago
6 0

Answer:

B. 2.05 times

Explanation:

Asset turnover ratio is computed by dividing net sales by average total assets

Given the following information about Maple Corp. for the year ended December 31, 2017

Beginning total assets = $83,200

Ending total assets = $116,500

Average total assets = (83,200+116,500)/2

                                  = 199700 /2

                                  = $99,850

net sales = $204,550

Asset turnover ratio = net sales/average total assets

                                 = $204,550/$99,850

                                 = 2.05 times

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Explanation:

Mr. Warner's cost of not taking the cash discount will be calculated as:

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3 0
3 years ago
Jacks Corporation purchases $200,000 bonds plus accrued interest for 2 months of $2,000 from Kennedy Company on March 1. The bon
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Answer:

A. debit to Interest Receivable for $2,000

4 0
3 years ago
Substitution and income effects of a change in price of a good may be used to explain the:
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Answer: Option A  

   

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On the other hand, income effect states that when the price of a commodity rises, a number of consumers might find it hard to purchase due to the price exceeding their income power which further results in lower demand.

Hence from the above we can conclude that the correct option is A.

6 0
3 years ago
Mrs. Eller's corporate employer has a cafeteria plan under which its employees can receive a $3,000 year-end Christmas bonus or
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Answer and Explanation:

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And, non taxable fringe benefit is $2,300

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4 0
3 years ago
Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $13,400. Of
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Answer:

a.$3.35

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The first step in determining  conversion cost per unit is to calculate the Total Equivalent units of production for Conversion Costs.

Conversion Costs

Units Completed and transferred (15,000 × 100%) = 15,000

Units in Ending Work In Process (3,000 × 75%)      =  2,250

Total Equivalent units of production                        =  17,250

The next step is to determine the total conversion cost of production incurred during the period.

Conversion Costs

Conversion Costs in Beginning Work In Process                               $4,800

Conversion Costs added during the period ($33,000 + $20,000) $53,000

Total Conversion Costs                                                                      $57,800

Finally calculate the conversion cost per unit

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