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Natalka [10]
3 years ago
8

Problem 2 (9 points) The following information was taken from the income statement and balance sheet of The Perryman Company for

the years 2018 and 2019: 2019 2018 Sales revenues $590,000 $574,000 Net income 212,000 184,000 Total assets 2,142,000 1,998,000 Total stockholders’ equity 712,000 690,000 Compute the following ratios for 2019: Net profit margin Asset turnover Return on assets Show computations here:
Business
1 answer:
Len [333]3 years ago
3 0

Answer and Explanation:

The computation is shown below;

The net profit margin is

= Net income ÷ sales revenue

= $184,000 ÷ $574,000

= 32%

The asset turnover is

= Sales revenue ÷ average of assets

= $574,000 ÷ ($2,142,000 + $1,998,000)  ÷ 2

= $574,000 ÷ $2,070,000

= 0.28 times

c. The return on assets is

= Net income ÷ average of assets

= $184,000 ÷ $2,070,000

= 0.089

= 8.89%

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lukranit [14]

Answer:

c. Job classification

Explanation:

Based on the information provided within the question it seems that the statement is typical of Job classification. This term refers to a set of information classifying a job based on the duties or responsibilities that the specific job entails. Which seems to be what the statement is referring to as it says "for which the duties are to be performed with minimal supervision" etc.

7 0
3 years ago
What sum of money now is equivalent of $8,250 two years later, if the interest is 4% per 6-month period (8% compounded semi-annu
Vitek1552 [10]

Answer:

$7052.13

Explanation:

We can calculate the present value of money equivalent of $8,250 two years later by applying present value formula

DATA

Future value = $8,250

Interest rate = 4%

Number of periods = n = 2 years x 2 times a year = 4 times

Present value =?

Solution

PV = \frac{1}{1+(interest rate)^n} futurevalue

PV = ×\\frac{1}{1+(0.04)^4} 8250

PV = $7052.13

7 0
3 years ago
Frost Enterprises buys a warehouse for $ 510,000 to use for its East Coast distribution operations. On the date of the​ purchase
12345 [234]

Answer:

$510,000.00

Explanation:

Since the historical cost principle states that business must account and record most assets at their purchase or acquisition price which means the data put into record on the balance sheet would reflect amount paid for asset.

That is why it is $510000.

6 0
4 years ago
Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow.
Alexandra [31]

Answer:

2a) 330,500

2b) 132,200

2c) 198,300

Explanation:

Loss from operating a discontinued segment (pretax) 18,750

Correction of overstatement of prior year’s sales (pretax) 16,500

Gain on sale of discontinued segment’s assets (pretax) 36,500

3 0
4 years ago
Main supplies is a publicly traded firm with 250,000 shares of stock outstanding. if the firm issues an additional 10,000 shares
Olenka [21]

A publicly traded company with 250,000 outstanding shares of stock is called Main Supplies. If the company offers 10,000 more shares, they will be referred to as Seasoned Equity Offering.

Any share issue that occurs after a company's Initial Public Offering (IPO) on the stock market is referred to as a Seasoned Equity Offering also known as a Follow On Offering. Therefore, the corporation issuing the securities is already publicly traded and is returning to the market to raise further funds. A Secondary Offering is the sale of shares by existing shareholders, whereas a Seasoned Equity Offering is the issue of shares to the public following an IPO.

To learn more about Seasoned Equity Offering Here

brainly.com/question/2699653

#SPJ4

7 0
1 year ago
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