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alukav5142 [94]
3 years ago
7

Waterway Industries reported the following data: 2020 2021 Sales $2980000 $4850000 Net Income 293000 391000 Assets at year end 1

810000 2460000 Liabilities at year end 1000000 1520000 What is Waterway’s asset turnover for 2021?
Business
1 answer:
Natasha_Volkova [10]3 years ago
8 0

Answer:

See

Explanation:

Given the above information, asset turnover ratio for 2021 is computed as seen below.

Asset turnover = Net sales / Average total assets

Net sales 2021 = $4,850,000

Average total assets = $2,135,000

Therefore, asset turnover ratio for 2021

= $4,850,000 / $2,135,000

= 2.27 times

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US annual inflation accelerated to 9.1% in June 2022, from 8.6% in May to his highest since November 1981, beating market expectations of 8.8%.

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5 0
2 years ago
If the reserve requirement was 13% and a bank customer makes a deposit of $440 at the Springfield Bank, the initial result would
NARA [144]

Answer:

O a $382.8 increase in excess reserves and a $57.2 increase in required reserves.

Explanation:

Here is the complete question :

If the reserve requirement was 13% and a bank customer makes a deposit of $440 at the Springfield Bank, the initial result would be:

O a $57.2 increase in excess reserves and a $382.8 increase in required reserves.

O a $382.8 increase in excess reserves and a $57.2 increase in required reserves.

O a $57.2 increase in required reserves and a $2,944.6 increase in excess reserves.

O a $440 increase in required reserves and a $2.944.6 increase in excess reserves.

Reserves is the total amount of a bank's deposit that is not given out as loans

There are two types of reserves

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  2. Excess reserve

Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank

Required reserves = reserve requirement x deposits

0.13 x $440 =  $57.20

Excess reserves is the difference between reserves and required reserves

$440 - $57.20 = $382.80

6 0
2 years ago
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Answer:

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