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Hatshy [7]
3 years ago
12

Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet da

ta are as of the end of the fiscal year (in millions).
2017

2016

Net sales $5,121.8 $5,286.7
Cost of goods sold 3,540.6 3,679.8
Net income 75.9 135.8
Accounts receivable 81 107.1
Inventory 1,203.5 1,358.2
Total assets 2,993.9 3,249.8
Total common stockholders’ equity 921.6 1,074.7

Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%)

(a) Profit margin
Entry field with correct answer

%
(b) Asset turnover
Entry field with incorrect answer

times
(c) Return on assets
Entry field with correct answer

%
(d) Return on common stockholders’ equity
Entry field with incorrect answer

%
(e) Gross profit rate
Entry field with correct answer

%

Business
1 answer:
romanna [79]3 years ago
5 0

Answer: a) 1.48%

B) 1.64%

C) 0.024%

D)0.08 times

E) $1,581.2

Explanation:

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In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract.On May 2, the bill w
patriot [66]

Construction expenditures should be debited when <u>D. The bill is approved for payment.</u>

<u>Explanation:</u>

In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.

This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.

Once the bill submitted by company is approved, then the retention amount will be automatically debited.

8 0
3 years ago
On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $40,000. Residual value at the end of an estimated 7 year
Degger [83]

Answer:

Part a

2021  = $7,000

2022  = $6,000

Part b

2021  = $5,250

Explanation:

Sum of the year`s digit method provide for higher depreciation in early life of the asset with lower depreciation in later years.

Step 1

<em>Some of digits calculation :</em>

Year      Digits

2021        7

2022       6

2023       5

2024       4

2025       3

2026       2

2027        1

Total      28

Step 2

<em>Determine the depreciable amount</em>

Depreciable amount = Cost - Residual value

                                   = $40,000 - $12,000

                                   = $28,000

Step 3

<em>Depreciation expense calculations</em>

2021 = 7 / 28 x $28,000 = $7,000

2022 = 6/ 28 x $28,000 = $6,000

assuming the equipment was purchased on March 31, 2021

2021 = $7,000 x 9/12 = $5,250

3 0
3 years ago
Bob was telling everyone in the break room that he thought it was a big mistake to hire laurie because it was clear to him that
Stolb23 [73]
<span> The fact that Bob called Laurie "inept" and "under qualified" despite her fine performance on the job so far, but because he was angry that his girlfriend had not been hired instead  is an example of workplace bullying. 
</span><span>The term workplace bullying denotes </span>pattern of mistreatment in the workplace that causes harm (emotional or/and physical).
By saying such things and r<span>epeating hurtful remarks </span>to Laurie Bob abused Laurie.
3 0
3 years ago
When a company recognizes that the needs of one market segment is not the same as another and accordingly customizes its product
Andrej [43]

Answer:

Focus strategy.

Explanation:

Focus strategy is undertaken by a company to enter a narrow market or expand operations in such a market. The segment is specific and the business usually provides services that competitively meets customer needs.

Recognising that one market segment's needs are different from another one's is the basis for focus strategy. Resources will be used to meet and satisfy the unique needs of a target segment or niche. Involve a particular product line for example children clothing, detergents, lemon juice, children's shoes and so on.

6 0
3 years ago
The bookbinder company has made $150,000 before taxes during each of the last 15 years, and it expects to make $150,000 a year b
allochka39001 [22]

A company can carryback losses up to 3 years. This means that the company can use its 525,000 2015 loss to obtain a credit for income taxes paid in the previous 3 years, 2012-2014. The calculation is as follows:

2012 Carryback: 150,000 x .35 = 52,500

2013 Carryback: 150,000 x .35= 52,500

2014 Carryback: 150,000 x .35 = 52,500

The check that Book Binder receives will be 52,500 x 3 = 157,500.

Its tax liability in 2015 will be zero, and its loss eligible for carryforward will be 525,000-450,000=75,000, since it has already carried back $450,000 of its loss (2012-2014 income).

Its liabilities in future years will be:

2016: (150,000-75,000) x .35 = 26,250. We have now exhausted all tax credits possible from the 2015 loss.

2017-20: 150,000 x .35 = 52,500

4 0
3 years ago
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