Answer:
3.15 times
Explanation:
Asset turnover = Sales revenue / Average total assets
Asset turnover = $1,135,420 / $360,600
Asset turnover = 3.15 times
Answer: $15,000
Explanation: The 80% coinsurance clause on the property means that the insurance policy holder is agreeing to contribute up to 80% of the property's worth. Hence in the event of a loss to the building worth $20,000; the insures policyholder would receive :
(Actual contribution/expected contribution) x value of loss to the property
Where : Expected contribution = 80% of property's worth
ie (80/100) x $400,000 = $320,000
then the insured is to receive: ($240,000/$320,000) x $20,000 = $15,000
The event marketing sponsorships are commonly used by marketing managers when creating brands and promoting it into events. In addition, this marketing strategy is one of the fasting growing in the United States as publicity is highly emphasised for the consumers to be attracted.
Answer:
Dr cash $74,100
Dr discount on bonds payable $10,900
Cr Bonds payable $85,000
The interest expense
Dr interest expense $2,964
Cr discount on bonds payable $264
Cr cash $2,700
Explanation:
From the amortization presented in the question,the present value of the bonds,which is proceeds received from bond issues was $74,100,which implies that the bonds were issued at a discount of $10,900 ($85,000-$74,100).
The entries for the bond issue would a debit of $74,100 to cash while a debit of $10,900 is posted to discount on bonds payable.The credit to bonds payable account would the face value of $85,000
