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Maggie's Muffins, Inc., generated $2,000,000 in sales during 2015, and its year-end total assets were $1,400,000. Also, at year-

Ksenya-84 [330]

Answer:

The Sales will increase by $350,000 (2000,000 * 17.5%)

Explanation:

As we know that,

Self Supporting Growth Rate = Return on Equity * (1 - Payout Ratio) ...Eq1

Here

Payout ratio given is 50%

and

Return on Equity = 35% (Step 1)

By putting values in Eq1, we have:

Self Supporting Growth Rate = 35% * (1 - 50%)

Self Supporting Growth Rate = 17.5%

Which means that Sales will increase by $350,000 (2000,000 * 17.5%) which is 17.5%.

Step 1: Find Return on Equity

We know that:

Return on Equity = Net Income / Equity ..............Eq2

As we are not given value of Net Income we can not calculate the value of return on equity. But there is another way that we can calculate by simply multiplying and dividing by sales on Left hand side of the Eq2 equation.

Return on Equity = Net Income / Equity * Sales / Sales

By rearranging, we have:

Return on Equity = Net Income / Sales * Sales / Equity

Now here,

Net Income / Sales = Profit Margin

By putting this in the above equation, we have:

Return on Equity = Profit Margin * Sales / Equity

Here

Profit Margin is 7% given in the question.

Sales were $2,000,000

And

Equity is $400,000 (Step 2)

By putting values, we have:

Return on Equity = 7% * $2,000,000 / $400,000

Return on Equity = 35%

Step 2. Find Equity

Equity = Assets - Liabilities

Here,

Assets are worth $1,400,000

Liabilities are standing at $1,000,000 which includes only current liabilities because company doesn't have any long term borrowings

By putting the values, we have:

Equity = $1,400,000 - $1,000,000 = $400,000

Brother, don't forget to rate the answer.

5 0

2 years ago

A finance lease agreement calls for quarterly lease payments of $5,376 over a 10-year lease term, with the first payment on July

Rainbow [258]

Answer:

a. The preparation of partial amortization is shown below:-

b. $2,892

Explanation:

a. Date Lease Effective Decrease in Outstanding

payment interest balance balance

July 1 $150,000

July 1 $5,376 $5,376 $144,624

($150,000 - $5,376)

Oct 1 $5,376 $2,892 $2,484 $142,140

( $5,376 - $2,892) ($144,624 - $2,484)

b. Interest expense on October 1 = $2,892

Working Note:-

Take the outstanding balance times 2% (8% annual = 2% quarterly)

So, the Effective interest = $144,624 × 0.02

= $2,892.48

4 0

2 years ago

July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated J

kramer

Answer:

Journal Entries are as below

Directive or Autocratic Decision Making:

Managers who embed such style assess few alternatives and consider limited information while taking any decision. They are intuitive and impulsive, do not find it important to consult with others or seek information in any form and use their cognitive process and idea while taking decisions.

BLINK COMPANY

JOURNAL

PERPETUAL INVETORY SYSTEM [AMOUNT IN $]

DATE PARTICULARS INVOICE DATE DR. CR.

Jul-01 PURCHASE A/C Jul-01 6,000

1/15,N/30 PAYABLE A/C {BODEN CO.} 6,000

Jul-02 A/C RECIEVABLE {CREEK CO.} Jul-02 900

SALES 900

2/10,N/60

COST OF GOODS SOLD 500

INVENTORY 500

Jul-03 CARRIAGE INWARDS A/C Jul-01 125

CASH A/C 125

Jul-08 CASH A/C 1,700

SALES A/C 1,700

COST OF GOODS SOLD 1,300

INVENTORY 1,300

Jul-09 PURCHASE A/C Jul-09 2,200

PAYABLE A/C {LEIGHT CO.} 2,200

2/15,N/60

Jul-11 PAYABLE A/C {LEIGHT CO.} Jul-09 200

INVENTORY 200

Jul-12 BANK A/C Jul-02 882

DISCOUNT ALLOWED 18

A/C RECIEVABLE {CREEK CO.} 900

Jul-16 PAYABLE A/C {BODEN CO.} Jul-01 6,000

BANK A/C 5,940

DISCOUNT RECEIVED 60

Jul-19 A/C REVIEVABLE {ART CO.} 1,200

SALES 1,200

2/15,N/60

COST OF GOODS SOLD 800

INVENTORY 800

Jul-21 SALES RETURN A/C Jul-19 200

A/C RECIEVABLE {ART CO.} 200

INVENTORY 134

COST OF GOOD SOLD 134

Jul-24 PAYABLE A/C {LEIGHT CO.} 2,000

BANK A/C 1,960

DISCOUNT RICEIVED 40

Jul-30 BANK A/C Jul-19 980

DISCOUNT ALLOWED 20

A/C RECIEVABLE {ART CO.} 1,000

Jul-31 A/C RECIEVABLE {CREEK CO.} Jul-31 7,000

SALES 7,000

2/16,N/60

COST OF GOODS SOLD 4,800

INVENTORY 4,800

Download xlsx

3 0

2 years ago

Assume an annual interest rate of 8%. You have $1. What is the value of the $1 one year in the future

seropon [69]

Answer:

the future value is $1.08

Explanation:

The computation of the future value is shown below:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

= $1 × (1 + 0.08)^1

= $1 × 1.08

= $1.08

Hence, the future value is $1.08

3 0

2 years ago

Scenario: Your best friend works for an In-Home Health Provider Company (IHHPC) in Palm Beach County, Florida. Your friend comes

adelina 88 [10]

Answer: Please refer to Explanation

Explanation:

Advise I would give.

1. The process for the collection of cash should be changed to bring in revenue faster. This can be done in a variety of ways,.

- By including in the terms of the contract that the service has to be paid for within a certain period such as a maximum of 4 weeks and then follow up each week on the customer so that they remember that they have a due bill.

- Giving payment based discounts such as a 5% discount if the service is paid for within a fortnight.

- Telling the customer to pay first, if not the full amount, at least a down payment with the total being settled at a later date.

These are but just some ways of getting the money faster but the bottomline is that payment needs to be received faster because the nurses are paid on a weekly basis.

2. Focus more on Patients with Insurance.

The company has a very low clientele base that use insurance and they should aim to increase that figure. This is because Insurance pays out timely and IHHPC will be sure that their payment will come because an Insurance company is bound by certain rules and regulations. For security of payments therefore, they should increase their insurance based clientele.

3 0

2 years ago