Answer:
9.1%
Explanation:
With regards to the above, margin is computed as;
Margin = (Net operating income ÷ Sales) × 100
Given that:
Net operating income = $2,597,140
Sales = $28,540,000
Margin = ($2,597,140 ÷ $28,540,000) × 100
Margin = 9.1%
Answer:
future value of a lump sum:
Explanation:
when there is only a single deposits the formula will be the compounding interest future value of a lump sum
The deposits will generate incoem at a given rate r which, will make it increase their value over the course of time.
Answer:
$18,000
Explanation:
Given data for Taylor Company;
Salaries payable at the beginning of 2015 (end of 2014) = $18,000
Salary expense during the year (2015) = $50,000
Salaries paid during the year = $50,000
Salary payable at end of year (2015) = ?
Let the salary payable at end of year= S
Using the formula
Salaries payable at the beginning of the year + Salary expense during the year - Salaries paid = Salary payable at end of year
$18,000 + $50,000 - $50,000 =S
S = $18,000
Salaries payable as at December 31, 2015 is $18,000.
Answer:
Law of tort
Explanation:
A tort can be basically described as an act or omission, which gives rise to an injury or harm, that could results into a civil wrong that could warrant a liability.
A tort can exist in 3 forms;
1. Negligence
2. Intentional torts, and
3. Strict liability.
The scenario under study here is a clear case of negligence. Here, the bank opined that there is deliberate and deceitful representation of the financial statement. Luca, the accountant, acknowledged that he was negligent in the preparation of this financial statements. The rule that governs this borders on negligence, and thus laws of tort comes handy in addressing this.
