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
scoundrel [369]
3 years ago
7

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

Dec 31 2016 Dec 31 2015Cash $26,000 $28,000Accounts Receivable 56,000 58,000Merchandise Inventory 79,000 76,000Prepaid Expenses 8,000 14,000Property, plant and equipment, net 180,000 11,000Compute the asset turnover ratio for 2016.
Business
1 answer:
siniylev [52]3 years ago
3 0

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 =

You might be interested in
Unlike merchant wholesalers, ___________ never actually own the goods they help to distribute. rack jobbers retailers cash-and-c
ANEK [815]
The correct answer is agents and brokers. Agents and brokers are considered to be a non-manufacturing traders by which they sell, buy, or even facilitate the traded products of which the goods that they sell are not theirs or they didn't actually owned it.
6 0
3 years ago
The next dividend payment by Hoffman, Inc., will be $2.65 per share. The dividends are anticipated to maintain a growth rate of
IrinaK [193]

Answer:

jvةنىعي تىهاخو٦ى ةلهةق ظىنلر تىلاىلا يعنب ان هناك الكثير

4 0
2 years ago
Monte inherited 1,000 shares of Corporation Zero stock from his father who died on March 4, 2020. His father paid $44 per share
Marina86 [1]

Answer:

$6,000 LTCG

Explanation:

Calculation to determine the amount and character of the gain or loss that Monte recognizes

Using this formula

Recognized gain or loss =Amount realized -Basis

Let plug in the formula

Recognized gain or loss=(1,000 Shares*$54 per share)-(1,000shares*$48 per share)

Recognized gain or loss=$54,000-$48,000

Recognized gain or loss=$6,000 LTCG

Therefore the amount and character of the gain or loss that Monte recognizes is $6,000 LTCG reason been the any gain Amount on the sales of property that was inherited are often tend to be LTCG

6 0
2 years ago
Each scenario below illustrates a basic underlying principle of economics of how economies work through the interactions of indi
vladimir1956 [14]

Answer:

The correct answer is: market efficiency; government intervention; specialization; equilibrium.

Explanation:

The owner of the snow cones realizes that the demand for snow cones has decreased in winter, and thus, closes shop to open back. This is an example of market efficiency.  

The local river is being polluted too much because of the amount of chemicals being dumped in the river. The government puts regulation on the amount of chemicals being dumped. This is an example of government intervention in the economy.  

At a restaurant one chef is placed at the vegetable station, one chef is at meat station, and one is to plate the food. This an example of specialization the management is placing chef that specializes in vegetable, meat and in plating at their respective positions.

The favorable whether leads to increase in supply of oranges. This causes a rightward shift in supply curve. The price of oranges fall as a result. This is an example of change in equilibrium.

3 0
3 years ago
Interview any local business owner and request him/her to identity any business problem that they are experiencing
Goshia [24]
I interviewed a local talent management firm's about her business problem that they currently experienced.

Currently, they faced problem from the power of social media. In the past, many artists relied on talent management firm to gain exposure, but today, they can find that exposure through social media. (i.e : youtube, facebook)
7 0
3 years ago
Other questions:
  • The relationship between quantity supplied and price is _____, and the relationship between quantity demanded and price is _____
    12·1 answer
  • How to never get corruption in songs on psp?
    15·1 answer
  • Zenon Inc. has the following taxable income: U.S. source income $ 1,900,000 Foreign source income 240,000 Taxable income $ 2,140
    7·1 answer
  • The demand for emeralds tends to be very elastic. This is because emeralds are more of a _____________. It also means that a 33%
    5·1 answer
  • Remsco has taxable income of $60,000 before considering charitable contributions. The $60,000 is net of a dividends received ded
    9·1 answer
  • A thirty-year U.S. Treasury bond has a 4.0 percent interest rate. In contrast, a ten-year Treasury bond has an interest rate of
    10·1 answer
  • Any contract, whether it is for the sale of real estate or some other entity, must contain five basic elements. However, any con
    7·1 answer
  • Sherri is a self- employed house painter. she has no regular office, and she does not have a qualified office in her home. there
    12·1 answer
  • Marketers should keep a close eye on the ___________ environment in order to ensure that their product sales don't decline when
    14·1 answer
  • Journal Entry
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!