Answer:
Option (a) is correct.
Explanation:
Given that,
Sales = $700,000
Beginning total assets = $240,000
Ending total assets = $280,000
The asset turnover ratio refers to the ratio of sales to the average total assets.
Average total assets:
= (Beginning total assets + Ending total assets) ÷ 2
= ($240,000 + $280,000) ÷ 2
= $260,000
Therefore, the asset turnover ratio is as follows:
= Sales ÷ Average total assets
= $700,000 ÷ $260,000
= 2.69
Answer and Explanation:
The journal entries are shown below:
1. Interest Receivable $300($36,000 × 10% x 30 ÷ 360)
To Interest Revenue $300
(Being accrued interest revenue is recorded)
2. Cash $36,450
To Interest Receivable A/c $300
To Interest Revenue A/c $150 ($36,000 × 10% x 15 ÷ 360)
To Notes Receivable A/c $36000
(Being note maturity date it is honoured is recorded)
Answer:
6.67 years
Explanation:
The number of years for the firm to reach the desired value of $1.2 million can determined using the nper formula in excel as below:
=nper(rate,pmt,pv,-fv)
rate is the interest rate earns by the fund at 10% per year
pmt is the addition to the fund in each year which is $50,000
pv is the current amount in the fund which is $400,000
fv is the desired value of $1.2 million
=nper(10%,50000,400000,-1200000)= 6.67 years
It would take 6.67 years for the sinking fund to reach the desired value of $1,200,000
Answer:
The answer is market strategy development stage.
Explanation:
During the market strategy development phase, it is analyzed if your product fits into your business strategic plans. A probable demand, the costs and the margins are estimated. Questions like what is the target market and which market share is expected need to be answered.
Answer:
0.5
Explanation:
Zscore = (x - mean) / standard deviation
Given the data:
X : 462 490 350 294 574
The second observation = 490
The mean and standard deviation of the data could be obtained using a calculator :
Mean = 434
standard deviation = 112
ZSCORE = (490 - 434) / 112
ZSCORE = 56 / 112
ZSCORE = 0.5
