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Evgesh-ka [11]
2 years ago
7

What is the imprest system ​

Business
1 answer:
riadik2000 [5.3K]2 years ago
6 0

Answer:

The imprest system is a form of financial accounting. The most common is petty cash.

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Jack corp. Has a profit margin of 5.1 percent, total asset turnover of 2.3, and roe of 19.64 percent. What is this firm's debt-e
anygoal [31]

Answer: Jack Corp's D/E ratio is 0.67.

We follow these steps to arrive at the answer:

We begin with the DuPont Identity for Return on Equity (RoE)

RoE = Net Profit Margin * Asset turnover Ratio * Equity Multiplier

Substituting the values from the question in the DuPont identity we get,

0.1964 = 0.051 * 2.3 * Equity Multiplier

Equity Multiplier = \frac{0.1964}{0.051*2.3}

Equity Multiplier = 1.674339301


Equity Multiplier = \frac{Total Assets }{Equity}

So,

\frac{1}{Equity multiplier} =\frac{Equity}{Total Assets}

Substituting the value of equity multiplier in the formula above we get,

\frac{Equity}{Total Assets} = 0.597250509

Now,

\frac{Equity}{Total Assets} + \frac{Debt}{Total Assets} =1

So,

\frac{Debt }{Total Assets} = 1 - \frac{Equity}{Total Assets}

\frac{Debt }{Total Assets} = 1 - 0.597250509


\frac{Debt }{Total Assets} = 0.402749491


Now that we have the proportions of debt and equity to total assets, we can  find the Debt Equity (D/E) ratio as follows:

\frac{D}{E} = \frac{\frac{Debt}{Total Assets}}{\frac{Equity}{Total Assets}}

Substituting the values we get,

\frac{D}{E} = \frac{0.402749491
}{0.597250509
}

\frac{D}{E} = 0.674339301


3 0
3 years ago
Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided. Terms:A. P
lara [203]

Answer:

Explanation:

1. Prepaid Expenses: In this transaction, the collection is made in advance so it will be come under prepaid expenses

2. Prepaid Expenses: In this transaction, the office supplies are used in the next period, so it will be treated as prepaid expenses

3. Accrued revenues: The subscription revenue is already earned, so it will be treated as a accrued revenues

4. Accrued revenues: The rent is earned but not collected, so it will be treated as a accrued revenues

5. Accrued Expenses: As the expenses are incurred but not yet paid or recorded so, it will be treated as outstanding expenses

6. Accrued Revenues:  As the revenue is earned but not yet collected or recorded so, it will be treated as an accrued revenues

7. Accrued Expenses: As the interest expenses are incurred but not yet paid or recorded so, it will be treated as outstanding expenses

8 0
2 years ago
Inventories of _____ can provide vast amounts of information concerning attitudes toward product categories, brands within produ
prisoha [69]

Answer:A. Activities C. Opinions

Explanation:One of the ways of generating data from the market is to seek the opinion and try to know the activities of customers concerning brands,product categories and user and non-user characteristics.

Inventory of opinions is the collection of opinions from the general public or from already available data. It helps to know the needs of the Customer and how to meet them.

Inventory of activities is the evaluations of the activities of the general public concerning your product or market segment,the activities can include their attitudes etc.

5 0
3 years ago
Read 2 more answers
Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserv
Svetllana [295]

Answer and Explanation:

a. The completion of the following table to reflect any changes in First Main Street Bank's T-account is shown below:-

<u>First Main Street Bank's Balance Sheet </u>

<u>Assets           Amount          Liabilities                         Amount</u>

Reserves     $750,000      Checkable Deposits       $750,000

b. The completion of the following table to show the effect of a new deposit on excess and required reserves is shown below:-

<u>Amount deposited</u>      Change in excess  Change in required

                                            <u>reserves</u>                     <u>reserves</u>

$750,000                            $600,000                    $150,000

                                  ($750,000 - $150,000)     ($750,000 × 20%)

3 0
3 years ago
1On January 3, Carothers Corporation acquired $200,000 in new equipment in exchange for cash of $170,000 cash and a trade-in of
stich3 [128]

Answer:

The journal entry:

Debit Accumulated depreciation $160,000

Debit Equipment $200,000

Credit Cash $170,000

Credit Equipment $180,000

Credit Gain on exchange asset $10,000

Explanation:

The old equipment had a book value of $20,000 at the time of exchange. The company paid $170,000 cash and a trade-in of old equipment.

The new equipment costs of $200,000.

Carothers Corporation will record gain on exchange by the journal entry:

Debit Accumulated depreciation $160,000

Debit Equipment $200,000

Credit Cash $170,000

Credit Equipment $180,000

Credit Gain on exchange asset $10,000

8 0
3 years ago
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