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lara31 [8.8K]
3 years ago
8

Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,620 Cost of goods sold 4,240 Depreciation 355 Earnings before

interest and taxes $ 2,025 Interest paid 30 Taxable income $ 1,995 Taxes 698 Net income $ 1,297 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 110 $ 215 Accounts payable $ 1,540 $ 1,885 Accounts rec. 990 830 Long-term debt 810 610 Inventory 1,680 2,070 Common stock 3,240 3,080 Total $ 2,780 $ 3,115 Retained earnings 880 1,130 Net fixed assets 3,690 3,590 Total assets $ 6,470 $ 6,705 Total liab. & equity $ 6,470 $ 6,705 What is the equity multiplier for 2017? Multiple Choice 1.59 times 2.08 times 2.18 times 1.02 times .53 times
Business
1 answer:
Mademuasel [1]3 years ago
7 0

Answer:

1.59 times

Explanation:

Average total assets = Beginning total assets + Ending Total assets / 2

Average total assets = 6,470 + 6,705 / 2

Average total assets =  $6,587.5

Beginning Total equity = Common stock + Retained earnings

Beginning Total equity =  $3,240 + $3,080

Beginning Total equity = $6,320

Ending Total equity = Common stock + Retained earnings

Ending Total equity= $880 + $1,130  

Ending Total equity = $2,010

Average total equity = Beginning Total equity + Ending Total equity / 2

Average total equity = $6,320 + $2,010 / 2

Average total equity = $4,165

Equity multiplier for 2017 =  Average total assets / Average total equity

Equity multiplier for 2017 = $6,587.5 / $4,165  

Equity multiplier for 2017 =  1.581632653061224

Equity multiplier for 2017 =  1.5816 times

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Answer:

only the results of the business' activities

Explanation:

 balance sheet is among the three main financial statements prepared by a corporation. It reports the financial positions of the business by showing the value of assets, liabilities, and the shareholder's equity at any point in time. Therefore, a balance sheet shows the net worth of the corporation.

The preparation of the balance sheet follows the accounting equation of assets equals liabilities plus shareholder equity. On one side, the balance sheet reports the assets and liabilities and equity on the other.  In other words, the balance sheets indicate how the assets of a business are financed. It does not report on the personal activities of business owners.

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3 years ago
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3 years ago
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Aleksandr-060686 [28]

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A knowledge-based approach.

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6 0
3 years ago
The value of what you owe minus what you owe is called
aliina [53]
Hey there!

I think you meant to type "value of what you <em>own</em> minus what you owe". Let me know if this assumption isn't correct, though I don't know what the value of what you owe is besides... ya know, what you owe. 

The value of what you own is called you assets. This can include anything of value that you own, particularly your pricier possessions. Think of a vintage family heirloom or a highly–priced article of clothing. Assets, though, includes the value <em>everything</em> that you own that you could possibly put a price tag on if you were certain someone would buy it. 

What you owe is called your liability. This is basically any debt that you owe anyone, whether it be your buddy who footed your lunch bill the other day when you didn't have enough cash or a student loan you used to pay for college. 

Your assets minus your liability is called your net worth. This is basically what you are worth in total. This makes sense, since any debt you owe will be taken out of the amount that you are worth or any money that you have.

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4 0
3 years ago
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Option;

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