Business, 27.11.2019 00:31 sumansmith5288

At year-end 2016, total assets for arrington inc. were $1 million and accounts payable were $410,000. sales, which in 2016 were $2.7 million, are expected to increase by 30% in 2017. total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. arrington typically uses no current liabilities other than accounts payable. common stock amounted to $470,000 in 2016, and retained earnings were $340,000. arrington plans to sell new common stock in the amount of $60,000. the firm's profit margin on sales is 3%; 40% of earnings will be retained. what were arrington's total liabilities in 2016?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 02:10

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Answers: 1

Answer

Business, 22.06.2019 18:30

Amanufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. in the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant for $2,100,000. what should the manufacturer do?

Answers: 1

Answer

Business, 22.06.2019 22:40

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.

Answers: 1

Answer

Business, 23.06.2019 01:30

Young owners of a sole proprietorship will likely not find financial support available from?

Answers: 2

Answer

You know the right answer?

At year-end 2016, total assets for arrington inc. were $1 million and accounts payable were $410,000...

Questions