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hoa [83]
3 years ago
14

Consider the following information from the financial statements for Rock Inc. Last Year This Year Accounts Receivable 23,535 29

,197 Inventory 31,858 36,758 Total Current Assets 156,774 155,103 Total Assets 481,648 433,593 Total Current Liabilities 28,578 21,489 Total Liabilities 260,101 205,624 Sales 473,864 Cost of Goods Sold 142,263 Operating Expenses 148,349 Tax Expense 7 Calculate this years' gross profit ratio. (enter 2 decimal places. e.g. enter .2968 as .30)
Business
1 answer:
Nesterboy [21]3 years ago
7 0

Answer:

Rock Inc.

Gross profit ratio:

= 0.70

Explanation:

a) Data and Calculations:

Sales                      $473,864

Cost of Goods Sold 142,263

Gross profit           $331,601

Gross profit ratio = Gross profit/Sales

= $331,601/$473,864

= 0.69978

= 0.70

b) Rock's gross profit is the difference between the Sales Revenue and the Cost of Goods Sold.  It is the first profit point on the Income Statement.  It measures the company's ability to convert sales revenue into profit after accounting for the cost of goods sold.  This profit will cover the expenses incurred in running the business for the particular period.

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Baxter Company reported a net loss of $13,000 for the year ended December 31. During the year, accounts receivable decreased by
stepan [7]

Answer:

a. used net cash of $2,000

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net loss -$13,000

Adjustment made:

Add : Depreciation expense $4,000

Add: Decrease in accounts receivable $5,000

Less: Increase in inventory -$8,000

Add: Increase in accounts payable $10,000

Total of Adjustments $11,000

Net Cash flow from Operating activities                   -$2,000

6 0
2 years ago
As explained in your textbook, the three main parts of a speech are called the
lesantik [10]

Answer:

The correct answer is B. The three main parts of a speech are the introduction, the body, and the conclusion.

Explanation:

The speech is a succession of words, expressed orally, that serve to express what we want or want to say.

Its main function has been from its origins to communicate or expose, but with the main objective of persuading its audience.

The speech is composed of three parts: introduction, body and conclusion:

-The introduction is one of the most important parts of the discourse since in this it is exposed the subject that will be treated.

Its function is to mark that the speech begins, attract the attention of the receiver, dissipate animosities, gain sympathy, set the interest of the recipient and establish the theme, thesis or objective.

-The body is the longest part since the whole theme is exposed in it: doubts and everything necessary to expose a considered justification of the idea are taken out.

-The conclusion is a strategic point, since it makes a small reflection about all of the above. The end must constitute the compendium of what has been said.

7 0
3 years ago
A credit card issuer charges an apr of 13.50%, and its billing cycle is 30 days long. what is its periodic interest rate?
Serga [27]
Let’s just say that the entire year is 365 days. So, we need to divide the APR (13.50%) to 365. This gives us a value of 0.037% and since the the billing cycle is 30 days, we need to multiply 0.037% to 30 to get it’s periodic interest rate. Therefore, the periodic interest rate is 1.11%.
8 0
3 years ago
Read 2 more answers
If vince charged $200 on his credit card with 18% apr and he paid his balance in full within the grace period, how much is the f
Luda [366]
0%, no loss or gain.
7 0
3 years ago
A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12
aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

        = 115.47

The expected number of orders = $\frac{\text{demand}}{EOQ}$

                                                      $=\frac{2000}{115.47}$

                                                      = 17.32

The daily demand = demand / number of working days

                               $=\frac{2000}{240}$

                              = 8.33

The time between the orders = EOQ / daily demand

                                                 $=\frac{115.47}{8.33}$

                                                  = 13.86 days

ROP  = ( Daily demand x lead time ) + safety stock

        $=(8.33 \times 8)+10$

         = 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

                                         $=\frac{115.47}{2} \times 3.6$

                                         = 207.85

The annual ordering cost = $\frac{\text{demand}}{EOQ} \times \text{ordering cost}$

                                           $=\frac{2000}{115.47} \times 12$

                                           = 207.85

So the total inventory cost = annual holding cost + annual ordering cost

                                            = 207.85 + 207.85

                                            = 415.7

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2 years ago
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