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
Mekhanik [1.2K]
3 years ago
5

Sally’s Dress Shop, Inc. reports operating income of $200,000 and interest expense of $18,000. The average common stockholders’

equity during the year was $20,000. The beginning assets balance is $80,000 and ending assets balance is $120,000. What is the leverage ratio? (Round y
Business
1 answer:
Sphinxa [80]3 years ago
7 0

Answer:

5

Explanation:

Given that,

Beginning assets = $80,000

Ending asset = $120,000

Operating income = $200,000

Interest expense = $18,000

Average common stockholders’ equity = $20,000

Average total assets:

= (Beginning assets + ending asset) ÷ 2

= ($80,000 + $120,000) ÷ 2

= $100,000

Leverage ratio:

= Average total assets ÷ Average common stockholders' equity

= $100,000  ÷ $20,000

= 5

You might be interested in
Imagine you take a shopping trip to a flea market, and you are looking for an old record player. You know the typical antique re
Sergeu [11.5K]

The best explanation of how the principle of demand and supply has affected the price of the record player is:

  • Because there are several vending booths in the same area selling the same item, there would be a reduction in price to attract more customers.

<h3>What is Demand?</h3>

This refers to the quantity of goods which are requested by consumers at a particular time period which has an effect in the price of the good.

With this in mind, the principle of demand and supply was in effect as in the flea market, there was a reduction in price of an old record player because there was a lot of the goods in a location.

Read more about demand and supply here:
brainly.com/question/4804206

8 0
1 year ago
Outsourcing means that :
g100num [7]

Answer:

B

Explanation:

It is the correct answer and outsourcing is were another company hires a company to essentially do their job. But done by a different company.

7 0
3 years ago
Michael Barry, Attorney, P.C. began the year with total assets of $126,000, liabilities of $74,000, and stockholders’ equity of
goldenfox [79]

Answer:

The expenses can be recorded as follows;

Debit to the expenses of $33,000 and a credit to the cash account of $33,000.

Explanation:

The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.

In the case of Michael Barry, the accounting equation;

Assets=liabilities+stockholders equity

Assets=$126,000

Liabilities=$74,000

Stockholders equity=$52,000

liabilities+stockholders equity=74,000+52,000=$126,000

The assets equals the sum of the liabilities and stockholders equity.

To record expenses paid of $33,000;

                            Debit           Credit

Expenses          $33,000

Cash                                       $33,000

3 0
3 years ago
Which of the following statements is CORRECT?
Tatiana [17]
The answer is E. i might be wrong
3 0
3 years ago
How much money is wasted on fraudulent health products each year.
Lubov Fominskaja [6]

Answer:

60 billion

Explanation:

This might help you: The National Health Care Anti-fraud Association (NHCAA) conservatively estimates that 3 percent of all health care spending, or $60 billion, is lost to health care fraud.

Hope this helps :)

Have a nice day!

8 0
2 years ago
Other questions:
  • Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,64
    15·1 answer
  • What happens to earnings in a cooperative?
    6·2 answers
  • A borrower had a loan of $ 30 comma 000.00 at 6 % compounded annually comma with 8 annual payments. Suppose the borrower paid of
    7·1 answer
  • Where to get ged certificate if you took test in 2008?
    15·2 answers
  • Which best describes the pathway of each individual
    9·2 answers
  • 4. What is a power machine's "throw"?
    13·1 answer
  • Carlsberg beer has an elasticity of -0.5 and the company decided cut prices to increase the total revenues on New Year’s Eve.
    11·1 answer
  • 3) What is the present value of $1000, received at the end of 4 years of investment, with a discount rate of 4%?
    8·2 answers
  • Successfulness of the competition policy in South Africa
    6·1 answer
  • Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!