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3 years ago

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.

Business

1 answer:

anastassius [24]3 years ago

4 0

Answer: $3,300,000

Explanation:

Accounting formula:

Assets = Equity + Liabilities

Total equity and liabilities on March 31 is:

= Beginning balance - decrease in liabilities + Increase in Equity

= 5,000,000 - 100,000 + 400,000

= $5,300,000

Assets therefore has to be $5,300,000 on the same date.

Assets = New cash balance + Other assets

5,300,000 = (2,200,000 - 200,000) + Other assets

Other assets = 5,300,000 - 2,000,000

= $3,300,000

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A market ______ growth strategy focuses on increasing sales of the firm's current products to its current target markets. multip

jeyben [28]

A market product growth strategy focuses on increasing sales of the firm's current products to its current target markets.

A product growth strategy increases sales looking all the prospects of the department rather than focus on only one department of the firm. It develops the firms production process in all aspects.

The strategy is made and planned according to the current market conditions to achieve its desired targets and get the maximum profit out of the production process that is taking place in the firm which in turn increase sales of the firm by increasing consumers demand.

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1 year ago

Which of the following statements regarding budgets is true? a. Budgets are detailed forward-looking financial reports based on

Shkiper50 [21]

Answer:

a. Budgets are detailed forward-looking financial reports based on expected income and expenses.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

It is typically used by various organizations or companies due to the fact that, it's tied directly to the strategy and tactics of a company on an annual basis. Also, it is used to set a budget for marketing efforts while anticipating on informations about the company.

3 0

2 years ago

the length and Length breadth and height of a room in a house are 8m 6m and 4m respectively the house on a decides to paint the

trasher [3.6K]

Answer:

$Cost\ of\ 112m^2 = 4.48$

Explanation:

Given

<u>Dimension</u>

$Length= 8m$

$Breadth = 6m$

$Height = 4m$

Cost per $m^2$ = 0.04

Required

Determine the total cost to paint 4 walls

First, we need to calculate the area of the 4 walls.

$Area = 2*(Length * Height) + 2 *(Breadth * Height)$

Substitute values for Length, Breadth and Height

$Area = 2*(8m* 4m) + 2 *(6m* 4m)$

$Area = 2*(32m^2) + 2 *(24m^2)$

$Area = 64m^2 + 48m^2$

$Area = 112m^2$

Cost per $m^2$ = 0.04.

$Cost\ of\ 112m^2 = 112 * 0.04$

$Cost\ of\ 112m^2 = 4.48$

8 0

3 years ago

A commercial building with a market value of $200,000 has an insurance policy with an 80 percent coinsurance clause. The owner c

RideAnS [48]

Answer:

$45,000

Explanation:

In this case the market value is $200,000 but the policy limit is only $120,000, with a coinsurance of 80%.

Since the amount of loss = $60,000, the insurance company will pay:

(stop limit / value) x loss = ($120,000 / $160,000*) x $60,000 = 0.75 x $60,000 = $45,000

*the $160,000 value is determined by multiplying the fair market value of the property times the coinsurance = $200,000 x 80% = $160,000

8 0

3 years ago

You are the financial analyst at Sew Mart, an arts and crafts retail store. Your boss has asked you to review the company's fina

mario62 [17]

Answer:

1. It has worsened

2. Yes (refer details below)

3. Refer details below

Explanation:

1. Performance

The performance of the company over the last three years has worsened as indicated by declining sales and decreasing current ratios impacting profitability and liquidity of the company.

2. Concerns

One of the most important concern for the company is its declining sales. It shows that the products are not competitive. Current ratios indicates liquidity crisis since they are decreasing.

3. Recommendations

The company's turnover ratio is high, which may indicates payments are being received timely, and hence the co. should take advantage of that

Low inventory turnover, on the other hand, indicates weaker sales and declining demand for a company’s products which is corroborated by the declining sales trend, the co. must increase its sales, launch new products, advertise aggressively.

8 0

3 years ago