1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aleksandrvk [35]
3 years ago
12

A company has net income of $130,500. Its net sales were $1,740,000 and its total assets were $2,750,000. Its profit margin equa

ls 7.5%.
Business
1 answer:
alexgriva [62]3 years ago
8 0

Answer:

True

Explanation:

The profit margin calculation is shown below:

= (Net income ÷ net sales) × 100

= ($130,500 ÷ $1,740,000) × 100

= 7.5%

We simply divide net income by net sales in order to achieve the gross profit margin. This indicates a correlation between net income or net income and net sales.  

All other information provided is irrelevant. Therefore, it was ignored

You might be interested in
Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. E
ch4aika [34]

Answer:

$4,92

Explanation:

Step 1 Calculate the Total Cost of conversion costs incurred during the process.

<u>Total Cost of conversion costs</u>

Cost of conversion in Beginning inventory  $8,800

Add Cost of conversion for April                  $43,612

Total                                                                $52,412

Step 2 Calculate cost per equivalent unit for conversion costs

cost per equivalent unit = Total Cost of conversion / Total equivalent unit for conversion

                                        = $52,412 / 10,650

                                        = $4,92

Therefore, the cost per equivalent unit for conversion costs using the weighted average method would be $4,92.

5 0
3 years ago
Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Rick Co.'s Board of Direc
Pie

Answer:

The journal entry is as follows:

Retained earnings A/c Dr. $18 million

        To common stock                        $0.30 million

        To capital paid in excess A/c      $17.70 million

(To record the stock dividend issued at 1%)

Working notes:

Shares issued = 1% of 30 million

                        = 0.30 million

Retained earnings:

= 0.30 million × $60 per share

= $18 million

Common stock:

= 0.30 million × $1 par value

= $0.30 million

Capital paid in excess:

= Retained earnings - Common stock

= $18 million - $0.30 million

= $17.7 million

8 0
3 years ago
The federal government relies mostly on revenue from _____.
Mumz [18]

The answer is INCOME TAXES. It is not sales tax. Just took the quiz on OW and got it right.

8 0
3 years ago
Read 2 more answers
The fundamental limitation of a matrix structure is that it ________.
Debora [2.8K]
<span>The fundamental limitation of a matrix structure is that it institutes a dual hierarchy that violates the unity-of-command principle</span>
6 0
3 years ago
Diego has been hired as a consultant to review a company’s contracting and purchasing procedures. He began by reviewing recent c
MatroZZZ [7]

Diego applying the systems model of change as a diagnostic framework

<h3><u>Explanation:</u></h3>

The Business Diagnostics Framework is a systemized way to diagnose the form of your business. The framework emerges from the external concentric rings, evaluating primary the outside environment and then penetrating down into the essential functional areas of the business processes.

Business diagnosis is a means of operating rearward to recognize causes for inadequate execution by making the relevant links within causes and effects. Thus, it is a method of knowing the signs or conditions of a problem. The Business Diagnostics system is a different framework that assists resolve even the most complicated business circumstances.

6 0
3 years ago
Other questions:
  • Bundling is expected to provide greater profits when the two bundled goods are: i. substitutes. ii. goods that have high fixed c
    7·1 answer
  • You wish to retire in 14 years, at which time you want to have accumulated enough money to receive an annual annuity of $17,000
    8·1 answer
  • Red Hot Inc. and Maverick Cycles Inc. are two competing motorcycle companies. While Red Hot's Cost of goods sold/Revenue is 63.4
    9·1 answer
  • A formal written statement of management's plans for the future, expressed in financial terms, is a a.budget b.gross profit repo
    8·1 answer
  • Higher income taxes cause a ____________ shift of the labor supply curve, which then produces __________ Real GDP. a. leftward;
    15·1 answer
  • The _________ is a statistic used to compute the pace of inflation or deflation.
    10·1 answer
  • Suppose that annual income from a rental property is expected to start at ​$1,100 per year and decrease at a uniform amount of ​
    11·1 answer
  • At a recent stockholders meeting for Ignate Inc., a group of stockholders expressed disagreement with the way that the managers
    10·1 answer
  • In local news, Judge Roberts ruled that the Corp Company is guilty of causing ____________ damage to nearby waterways. She has o
    6·1 answer
  • Which supply chain process focuses on the transformation of inputs into outputs?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!