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laila [671]
3 years ago
6

During 2020, Whispering Winds Corp. reported net sales of $4,502,400 and net income of $1,510,000. Its balance sheet reported av

erage total assets of $1,680,000. Calculate the asset turnover. (Round answer to 2 decimal places, e.g. 1.25.)
Business
1 answer:
amid [387]3 years ago
3 0

Answer:

2.68

Explanation:

Data provided in the question:

Reported net sales = $4,502,400

Reported net income = $1,510,000

Reported average total assets = $1,680,000

Now,

The the asset turnover is calculated using the formula as

Asset turnover = ( Net sales ) ÷ ( Average total assets )

or

Asset turnover = $4,502,400 ÷ $1,680,000

or

Asset turnover = 2.68 times

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never [62]

Answer:

Explanation:

The adjusting entry is shown below:

Supplies expense A/c Dr $1,000

       To Supplies A/c                       $1,000

(Being supplies are adjusted)

Since in the question, it is given that the supplies were purchased at $4,000 and in hand it was $3,000 so, the remaining balance i.e $1,000 ($4,000 - $3,000) would be adjusted to the supplies expense account.

6 0
3 years ago
To create a portfolio with duration of 4 years using a 5 year zero-coupon bond and a 3 year 8% annual coupon bond with a yield t
vovikov84 [41]

Answer:

One would have to invest 55%

Duration of 3-year bond is 2.78

Then 5wZ + 2.78(1 - wZ) = 4

2.22wZ = 1.22

wZ = .5495

Explanation:

To properly understand the concept behind the above calculation, let us define some basic concept:

Portfolio:  This can be refereed to as a phrase in finance. It refers to the collection on investment that is being held by an investment company, a financial institution such as a bank ,persons or an individual.

Zero coupon bond: A zero-coupon bond is a bond where the nominal or return on investment (ROI)  value is repaid at the time of maturity. This definition usually reflects a positive time value of money.

We should also recall that the formula for zero coupon bond as:

price = M / (1 + i)^n

where: M = maturity value

i = required interest yield divided by 2

Applying this formula, we were able to arrive at the investment percentage.

5 0
3 years ago
From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have
Dmitry_Shevchenko [17]

Answer:

the marginal cost of waiting is greater than the marginal benefit

Explanation:

Marginal cost is the additional cost as a result of carrying out a particular activity.

Marginal benefit is the additional benefits that accrue to an individual for carrying out an activity

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7 0
2 years ago
An agent does not like another broker and refuses to present his offers. The agent's employing broker notices he does a good job
Ivan

Answer:

Not ok and both broker and agent can be in trouble for lack of supervision

Explanation:

Based on the information provided within the question it can be said that this situation is not ok and both broker and agent can be in trouble for lack of supervision . This is because the agent and the employing broker are obligated to put the client's interests first and have no authority to withhold any offers from the client. That being said the employing broker also has the responsibility of supervising the employees and making sure that personal views do not affect the business decisions.

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3 years ago
Rhonda has an adjusted basis and an at-risk amount of $25,600 in a passive activity at the beginning of the year. She also has a
aliya0001 [1]

Answer:

a) Ending adjusted basis and at-risk amount $ 0

(b)The current passive loss is $12,000. Because $7,500 of the loss is used to reduce

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(c) The $7,500 loss that is not limited by the at-risk rules is subject to the passive loss

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Explanation:

5 0
2 years ago
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