Mike Company reported beginning and ending total assets of $280,000 and $400,000, respectively. Its net sales for the year was $646,000. What was Mike's asset turnover ratio?Begin by selecting the formula to calculate the company's asset turnover ratio. Then enter the amounts and calculate the ratio. (Round the asset turnover ratio to two decimal places, X.XX.)

Answers

Answer 1

The formula to calculate the asset turnover ratio is: Asset Turnover Ratio = Net Sales / Average Total Assets.  Mike Company's asset turnover ratio is 1.90.

To calculate the average total assets, we can use the formula:

Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2

Using the information given in the problem, we can calculate the average total assets as:

Average Total Assets = ($280,000 + $400,000) / 2 = $340,000

Now, we can calculate the asset turnover ratio as:

Asset Turnover Ratio = $646,000 / $340,000 = 1.90

Therefore, Mike Company's asset turnover ratio is 1.90. This means that for every dollar of assets invested, the company generates $1.90 in sales. A higher asset turnover ratio indicates that a company is more efficient in using its assets to generate sales.

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Related Questions

If tanya purchased a $1,700 set of golf clubs on a nine-month layaway plan and had to pay a monthly payment of $201, what was the fee charged for the layaway plan?.

Answers

$109 was the fee charged for the layaway plan.

We have given in the question,

She purchased a $1,700 set of golf clubs on a nine-month layaway plan.She had to pay a monthly payment of $201.

Now, we have to find the fee charged for the layaway plan.

For each of the 9 months, Tanya had to pay $201. Thus, in total, the amount she paid in dollars is:

T= 9($201) = 1809

The sum of her monthly payments is $1,809.

The original price of $1,700, paid $1,809, thus, the fee charged for the leeway plan, in dollars, was:

1809 - 1700 = 109

The fee charged for the layaway plan was $109.

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Calculate the market share (%) of a business who sells 20,000 products and the total market for that product is 50,000​

Answers

The market share of a company that sells 20,000 products in a market that has 50,000 products is 40%.

Market share is calculated as:

= Products sold by company / Total products in market x 100%

Solving gives:

= 20,000 / 50,000 x 100%

= 0.4 x 100%

= 40%

In conclusion, the company has a market share of 40%.

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Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by

Answers

Answer:

see. I hope it's helpful for you lol

Explanation:

i need friend lol can you my friend
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year,
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year,

You are an oat farmer who decides to sell a
call with a strike price of $4.90 for a premium of
$0.25.
If the futures price ends up at $4.85 (and your cash price is
$4.50), find your net price.

Answers

To calculate the net price as an oat farmer who sold a call option, we need to consider the premium received and the difference between the strike price and the futures price.

In this scenario, the strike price of the call option is $4.90, and the premium received is $0.25. The futures price ended up at $4.85, which is lower than the strike price. However, the cash price at $4.50 is even lower than the futures price.Since the futures price is below the strike price, the call option is out of the money and will not be exercised by the buyer. Therefore, as the seller, you get to keep the premium received.The net price, in this case, would be the cash price ($4.50) plus the premium received ($0.25):Therefore, the net price as an oat farmer in this situation would be $4.75.

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Sarah buys 500 shares of stock at $18 and sells the holding for a capital gain of $3,000. What was the share price at the time of the sale?

Answers

Answer:

$24

Explanation:

500 * 18 = $9000 worth of stock initially.

She sells with a $3000 gain, which means the value of the stock is $12000

12000/500 = $24

According to RESPA, when would fee splitting be allowed?
A. Never
B. If all parties are licensed
C. If all parties render a service
D If all parties are employed by different companies

Answers

According to RESPA (Real Estate Settlement Procedures Act), fee splitting is not allowed, except in some specific situations. In general, fee splitting is a practice in which a fee or commission is divided among two or more parties who have participated in a real estate transaction, such as a buyer's agent and a seller's agent.


RESPA prohibits fee splitting between settlement service providers, such as lenders, title companies, real estate agents, and brokers, unless the parties are involved in the same transaction and have provided services that are distinct and separate from each other. In other words, fee splitting is only allowed if all parties involved have provided services that are essential and unique to the transaction, and not simply a referral fee. To be specific, fee splitting is allowed in situations where two or more licensed individuals, who are not affiliated with each other, provide distinct services to a client in a real estate transaction. For example, a buyer's agent and a home inspector could share a commission if they each provided unique services to the buyer.

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Discuss different trade policies that are currently enacted and if they should be updated in some way.
Then create your own policy about an area in the economy is currently not addressed in current trade policies.
Select the link to access the Trade Discussion.

Answers

U.S. trade policy promotes economic growth through regulations and agreements that control imports and exports with other countries.

Trade allows countries to specialize in the production of the goods and services that align with their comparative advantage.

What are trade barriers?

A trade barrier refers to a natural barrier or imposed restraint by government on the flow of international goods or services.

Some examples of trade barrier include import quotas, embargoes, buy-national regulations, distance, language etc.

In conclusion, a trade barrier reducing policy is the policies that the Melanie's country has adopted to reduce international trade barriers.

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Placid Lake Corporation acquired 80 percent of the outstanding voting stock of Scenic, Inc, on January 1, 2020, when Scenic had a net book value of \( \$ 400,000 \). Any excess fair value was assigned

Answers

Placid Lake Corporation acquired 80 percent of the outstanding voting stock of Scenic, Inc, on January 1, 2020, when Scenic had a net book value of \$ 400,000.

Any excess fair value was assigned.

The goodwill is computed as follows:

The amount paid by Placid Lake Corporation for 80% of the voting stock of Scenic, Inc. is not given, but the total fair value of Scenic, Inc. is equal to the book value of \$400,000 plus any excess fair value assigned.

The fair value of Scenic, Inc. can then be computed as follows:

Fair value of Scenic, Inc. = Book value + Excess fair value

Fair value of Scenic, Inc. = \$400,000 + Excess fair value

Goodwill = Total fair value – Net identifiable assets

Goodwill = (\$400,000 + Excess fair value) - \$400,000

Goodwill = Excess fair value

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Which of the following might a student do in high school to learn more about automotive care? A.

a. Skills USA

B.

DECA


c.

Volunteer at a warehouse

Answers

Answer:

Answer - A

Explanation:

SkillsUSA has an automotive "skill" in which students in high school can learn about the automotive industry.

Answer:

A, Skills USA

Explanation:

Companies estimate the cost of poor quality for several reasons; they incluide_____
Select one: a. Quantifying the size of the quality problem in the language of money improves communication between middle managers and upper managers b. Qualifying the size of the quality problem in the language of money improves communication between middle managers and upper managers c. Diagnosing the impact of the quality problem in the language of money improves communication between middle managers and upper managers d. Observing the extent of the quality problem in the language of money improves communication between middle managers and upper managers

Answers

Companies estimate the cost of poor quality for several reasons, including improving communication between middle managers and upper managers by quantifying or diagnosing the impact of the quality problem in the language of money.

The correct answer is option A: Quantifying the size of the quality problem in the language of money improves communication between middle managers and upper managers. Estimating the cost of poor quality helps companies to understand the financial impact of quality issues. By translating quality problems into monetary terms, middle managers can effectively communicate the extent and significance of the problem to upper managers. This facilitates discussions about resource allocation, prioritization, and decision-making related to quality improvement efforts. The language of money provides a common and tangible metric that allows for better understanding and decision-making among managers at different levels of the organization.

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make an advertisement for an existing product

Answers

The most effective method to Make a Promotion

  Pick Your Interest group.

  Lead Advertising Exploration.

  Pick Your Foundation.

  Settle on a Tight spending plan.

  Create a Message.

  Get Individuals Talking.

  Conclude What You're Building.

  Incorporate a CTA.

Remember the Subtleties

Make Test Promotions

Foster Inventive Resources

Decide Estimations of Achievement and Set Up Following

Send off Your Promotion

Track and Break down Execution

Make Changes, Wash, Rehash

Complete the paragraph describing how to initiate an informational interview by filling in the missing words or phrases correctly.
After you research the career field that you’re interested in, you should identify someone to interview. You can contact friends, family members, social media connections, or
to help you get in touch with someone to interview. You could contact this person through email or by phone to request the interview. You should be prepared to tell the person about the interview’s objective, why you chose that person, and
.

Answers

It's critical to thank them for their time and willingness to share their knowledge.

When requesting an interview, it's also a good idea to suggest some specific dates and times that work for you and to inquire about their preferred method of communication. Remember to be accommodating and considerate of their schedule and availability.

What is an informational interview ?

An informational interview is a conversation between a person interested in a specific career field and a professional who works in that field.

The goal of an informational interview is to gain insight into the industry, learn about the day-to-day responsibilities of the job, and network with professionals with relevant experience. It's a chance to ask questions, get advice, and gather information that can help you make career decisions.

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Answer:

Part 1: B

Part 2: C

Explanation:

After you research the career field that you’re interested in, you should identify someone to interview. You can contact friends, family members, social media connections, or

[B: human resources employees]

to help you get in touch with someone to interview. You could contact this person through email or by phone to request the interview. You should be prepared to tell the person about the interview’s objective, why you chose that person, and

[C: job requirements]

.

Why would My future job be a flight attendant

Answers

Answer:

if you like to travel and be on planes and get that bag then be a flight attendant :) do what you want to!

Explanation:

1; Choose a business or an industry that is considered as a perfect market and explain which characteristics of a perfect market are not met by this business or industry.​

Answers

Answer:

hey what kind of watch is that in your profile pic

Azzura is comparing different cars and believes that the sedan has a better mix of benefits in relation to price than the sports utility vehicle she compared it against. This example best demonstrates the concept of

Answers

The comparison of different cars and believes that the sedan has a better mix of benefits in relation to price is known as B2B marketing.

What is B2B marketing?

Business-to-business (B2B) is a form of transaction between businesses, a wholesaler and a retailer.

Business-to-business is conducted between companies, instead of a company and individual consumer.

Hence, the comparison of different cars and believes that the sedan has a better mix of benefits in relation to price is known as B2B marketing.

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Why would it be better to be in a partnership?

Answers

Answer:

Partnerships increase your lease of knowledge, expertise, and resources available to make better products and reach a greater audience. All of these put together along with 360-degree feedback can skyrocket your business to great heights. The right business partnership will enhance the ethos of your firm.

Explanation:

Hope it helps..

During a hostile takeover attempt the board of directors of the target corporation blocked the attempt, however, shareholders who would have received a premium price for their stock are angry and sue. The courts will use: X the rule of reason to determine if the takeover made more financial sense to a greater number of people. the business judgement rule to determine if the directors acted reasonably. the rational basis test to determine if the block was the best course of action. intermediate scrutiny to determine if it was the best course of action.

Answers

The courts will determine if the board of directors acted reasonably by using the business judgement rule.

During a hostile takeover attempt the board of directors of the target corporation blocked the attempt, however, shareholders who would have received a premium price for their stock are angry and sue.

The courts will use the business judgement rule to determine if the directors acted reasonably.

However, the term 150 is not related to the given statement or the question, which is related to legal matters. Therefore, we cannot answer the question based on the given terms.

Nonetheless, the answer to the question is "the business judgement rule to determine if the directors acted reasonably."In the context of corporate law, the business judgment rule is a legal principle that allows a board of directors to make business decisions without being subjected to judicial inquiry.

It assumes that a board of directors, when making business judgments, acts in good faith and in the best interests of the company as a whole.

The courts will determine if the board of directors acted reasonably by using the business judgement rule.

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What is the drawback of carrying more inventory than is needed?

Answers

Answer:

One of the most important disadvantages of excess inventory is the loss of revenue. Products depreciate over time and lose their initial value. So the longer you hold a product, the cheaper it gets.

Answer:

too many resources can be tied up in the inventory

Explanation:

ape x

An organisation has decided to take privacy much more seriously. It will now request its privacy officer to regularly send out a newsletter to employees specifically about privacy. It will also use its current communication methods with employees to include items about privacy.

Answers

The organization has taken a step to take privacy seriously by sending newsletters specifically on privacy to its employees. The organization will also be using its communication methods to spread awareness about privacy.

This is a step taken by an organization to ensure that employees are well-informed about privacy. Privacy is the state of being free from being observed or disturbed by others in any way. Privacy is one of the fundamental rights of an individual. An organization has a responsibility to ensure that the privacy of its employees is not compromised. It is therefore essential that all employees are well aware of privacy.

The organization will use its communication methods to spread awareness about privacy. This may include emails, notices, and other communication channels. The privacy officer of the organization will also send out newsletters on privacy to all employees. This will help to ensure that employees are well-informed about privacy and how they can protect their privacy.

The organization has taken a good step towards ensuring that privacy is taken seriously. This will help to create a culture of privacy within the organization. Employees will also feel more secure knowing that their privacy is being taken seriously.

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When an employer takes the time to explain a mistake you have made and provides suggestions for avoiding that same mistake in the future, the employer is offering _____.

constructive criticism
verbal warning
destructive criticism
discipline

Answers

Answer:

conatructive critcism

Explanation:

they are critisming you so you can do better

which type of retailer generally accepts lower margins than traditional retailers in exchange for higher sales volume?

Answers

Discount stores of retailer generally accepts lower margins than traditional retailers in exchange for higher sales volume.

A discount store is a retail establishment that offers goods for less than what regular retail establishments would charge. Given that they provide a large variety of products, some bargain stores are comparable to department stores; in fact, some are referred to as discount department stores.

Others focus on particular products, such jewellery, electronics, sporting items, or home appliances. "Category killers" are discount retailers that focus on a particular selection of products inside a given retail category. IKEA for home furnishings, Staples for office supplies, and Home Depot for building supplies are a few examples of them. These shops provide expert service, affordable costs, and a wide selection of national brands (often obtained straight from the makers). Discount stores with closed doors are those that are only accessible to members of particular groups, like cooperative members or government employees.

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2) Moonlight Company wrote off the account of one of its customers, X, in 2018 for $500. On January 21, 2019, X unexpectedly repaid his account in full. The company uses the direct write-off method to account for uncollectible receivables. Journalize the entries required for Moonlight Company on January 21, 2019

Answers

Answer:

A journal entry was carried out for Moonlight Company for January 21, 2019, and is shown below in the explanation section

Explanation:

Solution

Given that:

Moonlight Company Journal Entries on January 21, 2019

JOURNAL ENTRY  

Date                Account name                    Debit         Credit

Jan. 21, 2019               Cash                       500  

     (Income statement -Bad debts recovered)              500

         (record the bad debts recovery from customer X)

When we discuss the Evaluate phase in ACE, which question do you ask to evaluate effectiveness of your instructional visuals?
A) Answer 1: Do cues in the visual help perception of selection, organization, and integration?
B) Answer 2: Is the visual learner-friendly?
C) Answer 3: Have you weeded out the extraneous data?
Answer 4: All of the Above

Answers

The Evaluate phase in ACE as the all of the above question as the relevant to the asked the effectiveness of your instructional visuals. Thus, option (d) is correct.

What is visuals?

The term visuals refer to represent the data, charts, drawings, paintings, design and the other things as included. The visuals are the concluded, the details and the easily to find out.

The evaluation of the ACE as the instrumental visuals are the first question is the selection, organization, and integration of the relevant and the visual learner-friendly and the quickly, extraneous data. As the all of the above, the question to the included.

Therefore, option (d) is correct.

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An outstanding check is one that has been issued but not yet reported on a bank statement by the bank.

Answers

It is a false statement that an outstanding check is one that has been issued but not yet reported on a bank statement by the bank.

What is an outstanding check?

Outstanding check means the check that a company has issued and recorded in its general ledger accounts but has not yet cleared the bank account on which it is drawn, this means, the bank balance will be greater than the company's true amount of cash.

The checks that are outstanding for a long period of time are known as stale checks. In U.S., an outstanding checks are considered to be unclaimed property and the amounts must be turned over to the company's respective state after several years

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Marked out Flag question The oldest and largest union in the US and Canada, serving members from the motion picture, theatrical, and audiovisual disciplines is: O a. The IATSE b. The IFL O c. None of the above Od. The ICBM

Answers

The oldest and largest union in the US and Canada, serving members from the motion picture, theatrical, and audiovisual disciplines is the International Alliance of Theatrical Stage Employees (IATSE). The correct answer is option (a) The IATSE.

The International Alliance of Theatrical Stage Employees, or IATSE, is the oldest and largest union representing workers in the motion picture, theatrical, and audiovisual industries in the United States and Canada. It was founded in 1893 and has a long history of advocating for the rights and welfare of its members.

The union represents a wide range of professionals, including technicians, artisans, and craftspersons involved in various aspects of production, such as stagehands, makeup artists, costume designers, and camera operators. The IATSE negotiates contracts, sets industry standards, and provides support and resources for its members, ensuring fair working conditions, wages, and benefits.

It plays a crucial role in maintaining the well-being of workers in the entertainment industry.

Therefore, option (a) The IATSE is the correct answer as the oldest and largest union in the US and Canada serving members from the motion picture, theatrical, and audiovisual disciplines.

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ch 10 kb. the relationship between sales, beginning finished goods inventory, production and ending finished goods is true when expressed as?

Answers

The relationship between sales, beginning finished goods inventory, production, and ending finished goods can be expressed as the following equation:

Sales + Beginning Finished Goods Inventory - Ending Finished Goods Inventory = Production

This equation is known as the production budget equation, and it represents the relationship between the various components of a company's production and sales process. The equation states that the total production for a given period is equal to the sum of sales, beginning finished goods inventory, and ending finished goods inventory. By using this equation, companies can plan their production and inventory levels based on expected sales and inventory needs. They can also use it to analyze their production and sales performance over time, and to identify areas for improvement or optimization.

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Consider the market for ice cream on the boardwalk of Rehoboth Beach. You want to know about
the total consumer and producer surplus from ice cream purchases during the July 4th weekend.
What information do you need to know to calculate the dollar value of total consumer and producer surplus?

Answers

To calculate the dollar value of the total consumer and producer surplus for the market for ice cream on the boardwalk of Rehoboth Beach during the July 4th weekend, you need to know the following information:

Consumer Surplus: The quantity of ice cream that consumers are willing to purchase at different prices. This information is represented by the demand curve.

Producer Surplus: The quantity of ice cream that producers are willing to supply at different prices. This information is represented by the supply curve.

Equilibrium Price: The price at which the quantity of ice cream demanded by consumers equals the quantity of ice cream supplied by producers. This is the point where the demand and supply curves intersect, also known as the market clearing price.

Consumer Surplus Calculation: To calculate the dollar value of consumer surplus, you need to find the difference between the maximum price that consumers are willing to pay (as indicated by the demand curve) and the market price.

Producer Surplus Calculation: To calculate the dollar value of producer surplus, you need to find the difference between the minimum price that producers are willing to accept (as indicated by the supply curve) and the market price.

Overall, total consumer surplus is equal to the sum of all individual consumer surpluses, while total producer surplus is equal to the sum of all individual producer surpluses.

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If the Fed raises interest rates, stock market values will probably fall, because: (Mark ALL that apply)

Question options:

a) Higher interest rates on other assets may raise the required rate of return on stocks.

b) Higher interest rates is likely to lead to higher inflation.

c) Higher interest rates may lead to a very strong economy.

d) Higher interest rates could lead to lower spending and a risk of recession.

Answers

When the Federal Reserve increases interest rates, stock market values will most likely decrease for two reasons. Firstly, higher interest rates may raise the required rate of return on stocks by making other assets, such as bonds, more attractive to investors.

As a result, the increased demand for bonds may divert money away from the stock market, lowering stock prices.Secondly, higher interest rates could lead to lower spending, which could have a negative impact on corporate earnings and stock prices. As the cost of borrowing money becomes more expensive, businesses and consumers may cut back on spending, reducing economic activity and lowering stock prices. There is also a risk of recession associated with high interest rates as the cost of borrowing money increases which can lead to lower economic growth and employment.

The idea of higher interest rates leading to higher inflation is not true because higher interest rates tend to reduce inflation by slowing down economic growth and borrowing. Therefore, options B and C are incorrect.Option A and option D are correct. When the Federal Reserve raises interest rates, stock market values will likely fall because higher interest rates on other assets may raise the required rate of return on stocks and higher interest rates could lead to lower spending and a risk of recession.

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The loan amount (principal) is $50,000 and the annual interest paid is $5,500. What is the annual interest rate

Answers

Answer:

The interest rate is 11%

Explanation:

The loan amount = $50000

Interest amount = $5500

Since the annual interest amount and the principal amount is given so we have to find the interest rate by using the given information. Below is the formula to find the interest rate.

Let the interest rate = x

Principal × interest rate = Interest amount

$50000 × r = $5500

r  = $5500 / $50000

r = 0.11 or 11%

The interest rate is 11%

true or false: by pushing for a higher minimum wage for the low-skilled workers, labor unions may drive the wag

Answers

Indeed, increased pay may draw in more workers, increasing employment. While some studies indicate that the minimum wage is bad, others suggest that it provides substantial advantages for employees.

Blank 1: Above (Low-skilled workers would seek higher minimum wages, which would raise the minimum wage rate over the equilibrium pay rate and lead to market binding.)

Blank 2: Surplus (When the minimum wage is higher than the equilibrium pay rate, there would be an excess of labour and fewer people would be recruited.)

However, given that unions mostly represent unemployed workers, they would still not push for higher salaries today.

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The correct question is given in the attachment.

true or false: by pushing for a higher minimum wage for the low-skilled workers, labor unions may drive
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