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4 years ago

What was one of the lessons from this activity?

Business

1 answer:

Sladkaya [172]4 years ago

4 0

Answer:

I should pay off my smallest balance first. Then continue paying my smallest balances until I have paid all of my debt.

Explanation:

This is one of the lesson from the activity. That, loans and debts are important part of life of someone but the most important thing, is to remember to clear off those loans and debts. this could be done through the gradual payment till all the debts are cleared.

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Snap Dragon Photo reported the following figures on its December 31, 2016, income statement and balance sheet:Net Sales $440,000

siniylev [52]

Answer:

Assets turnover ratio= 1.64 times

Explanation:

The asset turnover is the he amount of sales generated by one dollar invested in asset. it measures how efficient the business is in generating sales using assets

Assets turnover ratio = net sales / Average assets

<em>Asset at the beginning of year 2016</em>

=26,000 + 56,000 + 79,000 + 8,000 + 180,000 = 349 ,000

<em>Asset at the end of year 2016</em>

$28,000 + 58,000 + 76,000 + 14,000 + 11,000= 187 ,000

Average assets = Opening value of asset+ closing value of assets/2

= 349 ,000 + 187 ,000= 268 ,000

Assets turnover ratio = net sales / Average assets

=440000/268,000= 1.64 times

Assets turnover ratio= 1.64 times

Total assets =

3 0

3 years ago

If the money supply is growing at a rate of 3 percent per year, real GDP (real output) is growing at a rate of 3 percent per

myrzilka [38]

Answer:

Explanation:

Given that,

Growth rate of money supply = 3% per year

Real GDP growth rate = 3% per year

Velocity = Constant

According to the quantity growth theory of money,

M + V = P + Y

where,

M = Growth rate of money supply

V = Velocity

P = Inflation rate

Y = Real GDP growth rate

M + V = P + Y

3% + 0 = P + 3%

3% - 3% = P

0% = P

Therefore, the inflation rate is 0%.

6 0

3 years ago

On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $10,687; Accounts Receivable,

Agata [3.3K]

Answer:

The amount of stockholders' equity as of July 1 of the current year is $39,994

Explanation:

In John Wong, DVM, on July 1 of the current year:

Total asset = Cash + Accounts Receivable + Supplies + Land = $10,687 + $8,307 + $1,853 + $24,857 = $45,704

Liabilities = Accounts Payable = $5,710

Basing on accounting equation:

Total asset = Liabilities + Stockholders' Equity

Stockholders' Equity = Total asset - Liabilities = $45,704 - $5,710 = $39,994

7 0

3 years ago

In the production of a wooden chair within the circular flow model, what would the resource market include?

lidiya [134]

Answer:

forest/trees

Explanation:

4 0

3 years ago

The following are several figures reported for Allister and Barone as of December 31, 2018.

IrinaVladis [17]

Answer:

1) INVENTORY = $540,000 +$340,000 - (188000*0.15*40.30%/140.30%)

= $880,000- $1800 = $878200

2 Sales =$1,080,000 + $880,000 -$188,000= $1,772,000

3) Cost of goods sold =540000+440000-188000+1800 =$793800

4) Operating expenses = 250000+320000+ 12800 = $582,800

5) Net income attributable to NCI = $10,540

Explanation:

In the closing there is an unrealised profit of(188000*15%) = $28200 * 40.30%/140.30% =$8100

to get the mark up of 40.30% We take [(188000-134000)/134000]*100

Amortisation = 64000/5 =12800

5) Calculations

Non Controlling Interest( NCI) has an attributable profit only from the profits made by the subsidiary (Barone) therefore we need to calculate the profit of Barone separately as NCI is the remaining 10% in Barone

(880000-440000-320000-12800) = $107,200-1800 = $105400*0.1= $10540

3 0

3 years ago

Read 2 more answers