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aksik [14]
3 years ago
5

Selected data from the Florida Fruit Company are presented below: Total assets $1,500,000 Average total assets 1,850,000 Net inc

ome 175,000 Net sales 1,300,000 Average common stockholders' equity 1,000,000 Net cash provided by operating activities 275,000 Assume that no dividends were declared or paid during the period. Collapse question part (a) Calculate the profit margin. (Round answer to 1 decimal place, e.g. 15.2%.) Profit margin Enter percentages rounded to 1 decimal place %
Business
1 answer:
Mkey [24]3 years ago
5 0

Answer:

13.5%

Explanation:

Relevant data provided for computing the profit margin which is here below:-

Net Income = $175,000

Net Sales = $1,300,000

The computation of profit margin is shown below:-

Profit Margin = (Net Income ÷ Net Sales) × 100

= ($175,000 ÷ $1,300,000) × 100

= 13.5%

Therefore for computing the profit margin we simply applied the above formula.

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The current sections of Birmingham Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Birmingham’s net
jekas [21]

Answer:

Net Income 193,000

Non-monetary terms:

Depreciation expense    25,000

amortization expense       10,000

gain on disposal          <u>     (7,000)   </u>

Adjusted Income            221,000

Change in Working Capital:

Increase in A/R        (27,000)

Decreasein Inv          17,000

Increase in Prepaid   (5,000)

Increase Accrued /P   11,000

Decreasein A/P         (6,000)

Change In Working Capital     (10,000)

From Operating Activities    211,000

Investing

Sale of Equipment  47,000

Financing

Bonds Issued   60,000

Cash Flow              318,000

Beginning Cash   99,000

Cash Flow           318,000

Ending Cash        417,000

Explanation:

We first remove the non.monetary concetps from the net income.

Then we adjust for the change in working capital which are the incrase and decrease in the current assets and liabilities account

Increase in asset and decrease in liabilities represent cash outflow

while the opposite is true when an asset decrease(convert to cash) or a liablity increase (delay of the payment)

6 0
3 years ago
On December 31, Briar Co. disposed of a piece of equipment that cost $6,000 with accumulated depreciation as of December 31 of $
Setler [38]

Briar Co. disposed of a $6,000 piece of equipment on December 31 with $4,500 in accrued depreciation as of that date. Then $1,500 will be debited from the Loss on Equipment Disposal account.

<h3>What is loss on Equipment Disposal account?</h3>

Gain/Loss on Asset Disposal is a common account name of the Equipment Disposal account.

The net difference between the initial asset cost and any cumulative depreciation (if any) is debited to the disposal account, while the balances in the fixed asset account and the accumulated depreciation are reversed.

On December 31, the debited amount is calculated as:

=\text{Disposed Equipment- Accumulated Depreciation}\\\\ =\$6,000- \$4,500\\\\ =\$1,500

Therefore, $1,500 will be the amount of loss on disposal of the Equipment.

Learn more about the depreciation, refer to:

brainly.com/question/14682335

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7 0
2 years ago
Which of the following is a “DO” regarding scannable resumes
Ratling [72]
Average recruiters eliminates a lot of applicants by scanning their resumes and find some keywords in the resume here are some "DO" things that should be in your resume :
- make it a text based format, don't rely on picture and graph since it cannot be scanned
- AVOID any typos
- do not use text box, since the scanner will categorized as graph

Hope this helps
5 0
3 years ago
A teacher who counts the number of times a student raises her hand is using what type of recording system?
luda_lava [24]

The type of recording system that the teacher is using in counting the times that the student had raised their hands in his or her class is the event recording, this type of recording system is a way of having to document the behavior whenever the behavior has happened or it has been triggered.

4 0
3 years ago
Using the trueblood criterion what is the ultimate goal of accounting?
vampirchik [111]

The ultimate goal of accounting according to trueblood criterion is to predict future cash flows to the investor or creditor

<h3>What is a trueblood criterion?</h3>

In accounting, its means the reporting on the past & present firm information that could help us predict future cash flow to firm.

Hence, by virtue of trueblood criterion, the ultimate goal of accounting is to predict future cash flows to the investor or creditor.

Therefore, the Option C is correct

Missing options "A) Predict future cash flows to the firm

B) Predict income to the investor or creditor

C) Predict future cash flows to the investor or creditor

D) Predict income to the firm"

Read more about accounting

brainly.com/question/26690519

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8 0
2 years ago
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