1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NARA [144]
3 years ago
8

Kijijo Auctions runs an online auction company. Its end-of-year financial statements indicate the following results. Total asset

s = $240,000 Total liabilities = $130,000 Common stock = $24,000 Dividends = $6,400 Expenses = $94,000 Retained earnings (beginning of year) = $29,000 Required: Calculate the company’s net profit margin expressed as a percent. (Round your answer to the nearest whole percent.)
Business
1 answer:
katrin [286]3 years ago
6 0

Answer:

40%

Explanation:

Total assets. $240,000

Less total liabilities ($130,000)

$110,000

Less common stock ($24,000)

Retained earnings at end $86,0000

Less Retained earnings at the beginning ($29,000)

Addition to retained earnings $57,000

Add dividends $6,400

Net profit earned $63,400

Add expenses $94,000

Revenue. $157,400

Therefore, company's net profit margin expressed as a percentage = Net profit earned / Revenue

= (63,400/157,400) × 100

= 40%

You might be interested in
Sumner sold equipment that it uses in its business for $31,800. Sumner bought the equipment a few years ago for $79,100 and has
-Dominant- [34]

Answer:

Sumner's has a loss of $-7750 from the sale of the equipment

Explanation:

Solution

Given that:

We compute the amount  of profit and loss, few steps will be taken which is given below:

Step 1: we compute the book value of the equipment which is shown below:

Book value = purchase price - depreciation claimed

= $79,100 -$39,550

= $39550

Therefore then book value is $39,550

Step 2: we calculate the amount of Sumner's gain or loss which is shown below:

The gain (loss) is = the value (sale) - book value

= $31,800 - 39550

= -7750

Therefore the loss from the sale of the equipment is -$7750

Which implies that Sumner's has a loss of $-7750

5 0
2 years ago
Kite Sales. Wendy is president of a business that manufactures kites. The kites of her company, ABC Kites, are sold to large toy
LuckyWell [14K]

Answer:

She violated the duty of loyalty

Explanation:

One of the fiduciary duties of a director is to always act in the best interest of the company .

Similar to this is the duty of loyalty that prevents the director from acting against the interest of the company and also guide the director against activities that could bring conflict of interest whereby he is involved in reaping personal benefits from the position she occupies .

This describes Wendy's action of personal dealing based on her position as the president of Kite sale

5 0
3 years ago
What the 10 president
zavuch27 [327]

Answer:

John Tyler

Explanation:

4 0
2 years ago
Read 2 more answers
Saban Ironworks most recent reported free cash flow was $419.5 million. You project that the FCF will grow at a constant rate of
Olegator [25]

Answer:

On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2021, 28 million stock options were granted, exercisable for 28 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2024, and December 31, 2026, at 90% of the quoted market price on January 1, 2021, which was $10. The fair value of the 28 million options, estimated by an appropriate option pricing model, is $6 per option. Ensor chooses the option to recognize fonexpectedly to $26 per share.

6 0
2 years ago
What is true about hotel management companies?
abruzzese [7]

they generally manage hotels for a fee

5 0
2 years ago
Other questions:
  • Prestige Pegasus is a multinational firm that specializes in the manufacturing of hardware for high-end technical products and s
    7·1 answer
  • A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7
    12·1 answer
  • City Foods, is a firm that is experiencing rapid growth. The firm just paid a dividend of $2.00 yesterday. They expect to see th
    11·1 answer
  • Legazint, a law firm, organizes its staff into departments based on the type of clients the department deals with. These departm
    13·1 answer
  • Which of the following is not a duty of the California Insurance Commissioner?
    15·1 answer
  • Esky Corporation, a chain of retail stores, monitors 10 performance indicators that are believed to be correlated with better qu
    9·1 answer
  • Highbridge Community Life Center was a community hub and resource for the Bronx community that was founded in 1979 by two Cathol
    7·1 answer
  • Assuming the Coase theorem applies, an efficient allocation of a resource will result ... A. only if the government acts to inte
    12·1 answer
  • This type of interest is the most desirable.
    7·1 answer
  • What resource is available to help scope out your clients' needs in QBO
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!