Business, 04.08.2020 16:01 RIZGT500

The financial statements of Burnaby Mountain Trading Company are shown below. Income Statement 2017 Sales $7,000,000 Cost of Goods Sold 5,000,000 Gross Profit $2,000,000 Selling and Administrative Expenses 1,700,000 EBIT $300,000 Interest Expense 50,000 Income before Tax $250,000 Taxes 100,000 Net Income $150,000 Burnaby Mountain Trading Company 2017 2016Cash $90,000 $80,000 Accounts Receivable 810,000 800,000 Inventory 800,000 720,000 Total Current Assets $1,700,000 $1,600,000 Fixed Assets 2,600,000 2,400,000 Total Assets $4,300,000 $4,000,000 Accounts Payable $500,000 $400,000 Bank Loans 100,000 100,000 Total Current Liabilities $600,000 $500,000 Long-term Bonds 400,000 300,000 Total Liabilities $1,000,000 $800,000 Common Stock (200,000 shares) 500,000 500,000 Retainded Earnings 2,800,000 2,700,000 Total Equity $3,300,000 $3,200,000 Total Liabilities and Equity $4,300,000 $4,000,000 The firm's current ratio for 2017 is .a. 1.3b. 1.5c. 1.69d. 2.83

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:30

According to the research in strategic human resources management,answers: firms that are able to use human resource practices to develop socially complex human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices.firms that are able to use human resource practices to develop socially simplistic human and organizational resources are able to gain competitive advantage over firms that do not engage in these practices.firms that are able to use human resource practices to develop socially complex human and organizational resources gain little advantage over firms that do not engage in these practices.firms that are able to use human resource practices to develop socially complex human and organizational resources are at a competitive disadvantage when compared to firms that do not engage in these practices.

Answers: 3

Answer

Business, 22.06.2019 13:40

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

Answer

Business, 22.06.2019 20:10

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.

Answers: 2

Answer

Business, 22.06.2019 23:00

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is:

Answers: 1

Answer

You know the right answer?

The financial statements of Burnaby Mountain Trading Company are shown below. Income Statement 2017...

Questions