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2 years ago

Are good places to look to find your current expenses when building your budget.

Business

1 answer:

Lena [83]2 years ago

4 0

Answer:

a good way to keep track of monthly expenses would be to start writing down regular monthly expenses like rent,bills and so on for a month and then add in all your other regular monthly expenses. it would take a few months after that to keep track of non regular expenses so you can come up with an average.

Explanation:

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Fill in the missing amounts.

Marrrta [24]

Answer:

Find my analysis below

Explanation:

The gross profit rate is the portion of net sales earned as gross profit prior to considering operating expenses as indicated by the formula below:

gross profit rate=gross profit/net sales

The profit margin measures the net income as a percentage of net sales

profit margin=net income/net sales

Crane company Sheridan company

Sales revenue $94,200 $103,000

sales returns and allowance $14,000 $3,000

Net sales $80,200 $100,000

cost of goods sold $54,200 $50,000

Gross profit $26,000 $50,000

Operating expenses $14,700 $34,400

Net income $11,300 $15,600

Gross profit rate=gross profit /net sales 32.4% 50.0%

Profit margin=net income/net sales 14.1% 15.6%

Crane company Sheridan company

Sales revenue 94200 =F5+F4

sales returns and allowance =E3-E5 3000

Net sales 80200 100000

cost of goods sold 54200 =F5-F7

Gross profit =E5-E6 50000

Operating expenses 14700 =F7-F9

Net income =E7-E8 15600

Gross profit rate=gross profit /net sales =E7/E5 =F7/F5

Profit margin=net income/net sales =E9/E5 =F9/F5

7 0

2 years ago

Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm’s t

posledela

Answer:

Based on the DuPont equation and given information, ROE of Harrington Inc is 13.818%.

Explanation:

We have to find the total equity and total debt of Harrington Inc in order to apply the DuPont equation for finding ROE because net income, sales of Harrington Inc. are already given.

- To find Harrington Inc's total debt, apply the Debt-to-capital formula: The Harrington Inc's total debt/The Harrington Inc's total capital = 45% => Harrington Inc's total debt = The Harrington Inc's total capital * 45% = $250,000 x 45% = $112,500;

- To find Harrington Inc's total equity, apply the accounting equation Asset = Liabilities + Owner's Equity: The Harrington Inc's total equity = The Harrington Inc's total asset - The Harrington Inc's total debt = $250,000 - $112,500 = $137,500;

- Using the Dupont equation, calculate the ROE as followed:

(NI/Sales)* (Sales/ Total assets) * (Total assets/ Total common equity) = (19,000/325,000) * ( 325,000/ 250,000) * (250,000/137,500) = 13.818%.

- Thus, the ROE = 13.818%.

5 0

3 years ago

Let's say you graduate from school and you are unemployed or take a low-paying job. What are your debt

elena55 [62]

Answer:

Explanation:

7 0

3 years ago

Read 2 more answers

Identify each of the following transactions as:

ale4655 [162]

Answer:

Explanation:

Basically there are three types of activities under the indirect method is shown below:

1. Operating activities: It includes those transactions which affect the working capital, and it records gain or loss on sale of the assets. Increase in current assets and decrease in current liabilities would be subtracted and the decrease in current assets and increase in current liabilities would be added

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.

So, the item categorization under each activities are shown below:

a. Cash sale of land - Investing activity (I) (+)

b. Issuance of long-term note payable in exchange for cash - Financing activity (F) (+)

c. Depreciation of equipment - Operating activity (O) (+)

d. Purchase of treasury stock - Financing activity (F) (-)

e. Issuance of common stock for cash - Financing activity (F) (+)

f. Increase in accounts payable - Operating activity (O) (+)

g. Net income - Operating activity (O) (+)

h. Payment of cash dividend - Financing activity (F) (-)

i. Decrease in accrued liabilities - Operating activity (O) (-)

j. Loss on sale of land - Operating activity (O) (+)

k. Acquisition of building by issuance of notes payable - Non-cash investing and financing activity (NIF) as no cash transactions involves

l. Payment of long-term debt - Financing activity (F) (-)

m. Acquisition of building by issuance of common stock - Non-cash investing and financing activity (NIF) as no cash transactions involves

n. Decrease in accounts receivable - Operating activity (O) (+)

o. Decrease in inventory - Operating activity (O) (+)

p. Increase in prepaid expenses - Operating activity (O) (-)

8 0

2 years ago

On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30.Since

konstantin123 [22]

Answer:

On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

Explanation:

On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%. Therefore, the dollar had weakened against the Swiss francs by the same rate.

6 0

3 years ago

Read 2 more answers