Answer:
Profit margin = net profit / total sales = $78 / $5,200 = 1.5%
Asset turnover = total sales / average total assets = $5,200 / ($2,990 + $3,510) = 1.6
Return on assets = net income / average total assets = $78 / $3,250 = 2.4%
Return on common stockholders’ equity = net income / average stockholders' equity = $78 / ($992 + $1,031) = 7.71%
Gross profit rate = gross profit / total sales = $1,716 / $5,200 = 33%
Answer:
Beaver Construction
1. Journal Entry:
April 1, 2015:
Debit Equipment $50,400
Credit Cash Account $50,400
To record the purchase of new equipment for cash.
2. December 31, 2015:
Debit Depreciation Expense-Equipment $5,400
Credit Accumulated Depreciation - Equipment $5,400
To record the depreciation expense for the period.
3. Adjusted balances of Accumulated Depreciation and Depreciation Expense at December 31, 2015:
a) Accumulated Depreciation - Equipment
Beginning balance $0
Depreciation Expense $5,400
Ending balance $5,400
b) Depreciation Expense-Equipment $5,400
Explanation:
The depreciation expense for equipment is $5,400 ($600 x 9) since the depreciation charge for each month is $600. The equipment was used from 9 months from April 1 to December 31 in 2015. This implies that only $5,400 will be charged to Income Statement for the period.
Answer:
product mix
Explanation:
The combination of product lines offered by a manufacturer is called the firm's: product mix.
Answer:
3 steps are:
Planning
Controlling
Closing
Explanation:
Project scope is the term which is defined as the work that require to be achieved in order to deliver the product, result or service with the particular or specified functions as well as features.
The 3 steps which a team need to follow in defining the project scope and creating a statement of project scope is as:
1. Planning - It is that procedure where an effort is made in order to capture or apprehend and define the work which needs or required to be perform or done.
2. Controlling - The processes of monitoring and controlling focus on the scope creep, approving or disapproving the project changes, tracking and documenting tracking.
3. Closing -It is the final procedure of the project scope, it involves the audit of the assessment and the deliverables of the project against the original plan.
