To complete the financial statements of Omega Company for the year ended June 30, 2001, we can use the provided ratios and additional information.
A. Net Profit to Sales Ratio = 5%
Net Profit = Net Profit to Sales Ratio * Sales
Net Profit = 0.05 * $2,000,000 = $100,000
B. Current Ratio = 1.5
Current Assets = Current Ratio * Total Liabilities
Total Liabilities = $60,000 (sundry creditors)
Current Assets = 1.5 * $60,000 = $90,000
C. Return on Net Worth = 20%
Net Worth = Net Profit / Return on Net Worth
Net Worth = $100,000 / 0.2 = $500,000
D. Inventory Turnover = 15
Cost of Goods Sold = Sales / Inventory Turnover
Cost of Goods Sold = $2,000,000 / 15 = $133,333
E. Share Capital to Reserve Ratio = 4:1
Share Capital = (4 / 5) * Reserve and Surplus
Share Capital = (4 / 5) * Net Worth = (4 / 5) * $500,000 = $400,000
Reserve and Surplus = $500,000 - $400,000 = $100,000
F. Tax Rate = 50%
Income Tax = Tax Rate * Net Profit
Income Tax = 0.5 * $100,000 = $50,000
Now we can complete the financial statements:
Omega Company Income Statement for the year ended June 30, 2001:
Sales: $2,000,000
Cost of Goods Sold: $600,000
Gross Profit: $1,400,000
Operating Expenses: $1,190,000
Earnings Before Interest and Tax: $210,000 (Gross Profit - Operating Expenses)
Debenture Interest: $10,000
Income Tax: $50,000
Net Profit: $100,000 (Earnings Before Interest and Tax - Debenture Interest - Income Tax)
Omega Company Balance Sheet as of June 30, 2001:
Assets:
Cash: To be determined
Stocks: To be determined
Debtors: To be determined
Fixed Assets: To be determined
Total Assets: To be determined
Liabilities:
Sundry Creditors: $60,000
10% Debentures: To be determined
Total Liabilities: To be determined
Equity:
Share Capital: $400,000
Reserve and Surplus: $100,000
Total Liability and Equity: To be determined
Please note that the values for Cash, Stocks, Debtors, Fixed Assets, 10% Debentures, Total Assets, Total Liabilities, and Total Liability and Equity need to be provided in order to complete the financial statements accurately.
For more such questions on financial statements
https://brainly.com/question/26240841
#SPJ8
Write a two-paragraph summary of this exercise that you could use to demonstrate your knowledge of the role of social media in commerce in a future job interview.
Answer:
you are awesome to mention
Angela’s monthly living expenses amount to $5,000 and she has monetary assets worth $20,000. The formula for emergency fund ratio is as follows Emergency Fund Ratio = Monetary Assets/ Monthly Living Expenses.
What is Angela’s calculated emergency fund ratio?
A.) 1 month
B.) 4 months
C.) 6 months
D.) 2 months
Angela’s calculated emergency fund ratio is Option B. 4 months.
Given that Angela’s monthly living expenses amount to $5,000 and she has monetary assets worth $20,000. The emergency fund ratio formula is as follows:
Emergency Fund Ratio = Monetary Assets/ Monthly Living Expenses
Substituting the given values, we have;
Emergency Fund Ratio = $20,000/$5,000
Emergency Fund Ratio = 4 months
Therefore, Angela’s calculated emergency fund ratio is 4 months.
The emergency fund ratio is used to determine how long a person can survive in the event of a financial emergency or when one suddenly loses their source of income. It is a measure of how much monetary assets one has in relation to their monthly living expenses. The higher the ratio, the better the financial stability of the person in question. Ideally, financial experts recommend that one has an emergency fund ratio of between three to six months' worth of monthly living expenses. This ensures that one has enough savings to sustain their lifestyle in the event of a financial emergency such as job loss or illness.
The emergency fund should be kept in a liquid form such as a savings account that allows one to withdraw money at any time without any penalties. This ensures that one can easily access their funds when needed without incurring any additional costs. It is important to have an emergency fund to avoid situations where one is forced to liquidate their long-term investments such as retirement savings which may attract penalties and taxes. Therefore, the correct option is B.
Know more about Emergency fund ratio here:
https://brainly.com/question/31106252
#SPJ8
How many suppliers should be used? why?
The suppliers use the Financial capability of the supplier, Capacity, and quality of goods or services, and Diversity of supply.
Determining the number of suppliers to be used can be challenging. Each company must find the right balance between the benefits of working with few suppliers and the risks of becoming too dependent on one supplier. When it comes to supplier selection, businesses must consider the amount of business they are willing to give to each supplier, as well as their commitment to building long-term relationships.
Several factors must be considered while determining how many suppliers to use, some of which are discussed below:
Financial capability of the supplier: It is critical to examine the financial capacity of potential suppliers before making a final decision. Can they afford to provide the required goods or services regularly? Do they have the necessary capital to invest in new equipment or technology to stay competitive?
Capacity and quality of goods or services: Does the supplier have the capacity to meet the business’s requirements? Can they supply goods or services of adequate quality?
Diversity of supply: The risk of depending on one supplier is that the business may be severely affected if that supplier fails to supply, or if the goods or services are not up to par. By having more suppliers, companies can spread the risks and have alternate sources of supply.
In conclusion, the number of suppliers a company should use depends on the business’s needs and circumstances. Companies must assess their suppliers’ financial capability, capacity, quality, and diversity of supply to determine the optimum number of suppliers to use. A more in-depth analysis may be required for businesses operating in complex and volatile markets.
Know more about Suppliers here:
https://brainly.com/question/30763379
#SPJ8
Suppose that you purchased your home in 2014 and believe that, based upon recent
comparable home sales in your vicinity, your home has a market value of $675,000. You
decide to put your home on the market for $720,000 to allow room for future negotiation
towards your desired selling price of $675,000. After several days, you receive a text
message from your broker informing you that prospective buyers have been balking at
making you an offer as they have seen that Zillow is valuing your house online for only
$600,000. Explain whether you have a right to sue Zillow and, if so, under what liability
law(s).
Zillow, a popular online real estate database and marketplace, provides estimates of home values through its proprietary Zestimate tool. However, in the case where a seller disagrees with Zillow’s valuation of their property, the seller does not have the right to sue Zillow, and there are no legal grounds for a lawsuit.
In addition, the seller voluntarily uses the tool to estimate their property's worth. Although Zillow uses a complex algorithm that considers various factors to determine the value of a property, the tool is not perfect, and its estimates can be incorrect. A home’s value depends on various factors, including location, condition, recent sales prices of comparable homes in the area, and market trends. It is essential to note that Zillow’s Zestimate tool does not physically visit homes, and, therefore, may not be able to factor in some critical variables affecting the value of a property.
As a result, Zillow's online estimates should be used only as a starting point for determining the property's value. Ultimately, the actual value of the property will be determined by the final price a buyer is willing to pay, the seller’s selling price, and the current market conditions. Therefore, it is essential to get a professional appraisal to get an accurate valuation of the property. In conclusion, a seller does not have the right to sue Zillow as there are no grounds for a lawsuit.
Know more about Online real estate here:
https://brainly.com/question/30087960
#SPJ8
QUESTION 6 of 10: You can hire someone without experience for $13 per hour or someone with experience for $19 per hour. You believe the experienced person increases the sales per customer by $3. Each person handles about 12 customers per hour. Should you hire the experienced person?
a) Yes
b) No
Option A. Yes, you should hire an experienced person.
To determine if you should hire an experienced person or not, you need to calculate the sales increase against the cost of hiring an experienced person as compared to hiring someone without experience. If the sales increase is greater than the additional cost, then it is advisable to hire an experienced person.
Let's take a look at the calculation below:
If you hire someone without experience, it will cost you $13 per hour. If you hire an experienced person, it will cost you $19 per hour.
The difference in cost is $19 - $13 = $6.
The experienced person increases the sales per customer by $3. So if you have 12 customers per hour, the increase in sales will be 12 x $3 = $36.Therefore, if the additional $6 cost of hiring an experienced person is less than the sales increase of $36, then you should hire the experienced person.
The additional cost of hiring an experienced person: $6Sales increase per hour: $36
Therefore, if the sales increase per hour is more than the additional cost of hiring an experienced person, it is advisable to hire an experienced person. So, the answer to this question is "Yes, you should hire an experienced person". Therefore, the correct option is A.
Know more about Cost of hiring here:
https://brainly.com/question/29310019
#SPJ8
Yield premiums on bonds backed by pools of consumer debt have edged consistently higher this year, reflecting perceptions of rising risk. Junior bonds made of bundles of subprime car loans, for example, now offer investors ______ percentage points’ extra yield over comparable Treasury notes, up from 2.41 percentage points at the start of the year, according to JPMorganLinks to an external site. data. Pricing for other kinds of consumer-debt investments shows a similar trend.
Investors in junior bonds made of bundles of subprime car loans are now demanding 4 percentage points of extra yield over comparable Treasury notes. This is up from 2.41 percentage points at the start of the year, according to JPMorgan data.
How to explain the informationThis is a reflection of rising risk perceptions in the market. Investors are concerned that the rising cost of living and the possibility of a recession could lead to more defaults on consumer loans.
Pricing for other kinds of consumer-debt investments shows a similar trend. For example, the yield premium on bonds backed by credit card debt has risen to 2.95 percentage points from 2.21 percentage points at the start of the year.
The rising yield premiums on consumer debt bonds reflect the fact that investors are demanding a higher risk premium for these investments. This is a sign that investors are becoming more cautious about the risks associated with consumer debt.
Learn more about bond on
https://brainly.com/question/25965295
#SPJ1
Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:
What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?
The purpose of this research is to examine the service proficiency of OEI and suggest suitable staffing levels for accommodating a growing clientele of 20 and 30.
1. Arrival Rate for Each Customer: 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.
What is the managerial report1. Arrival Rate for Each Customer: 1.25 customers per hour.
Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:10 customers / 8 hours
= 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:1 customer / 3 hours
= 1/3 customers per hour.
3. Travel Time and Waiting Time:
OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.Learn more about managerial report from
https://brainly.com/question/3815117
#SPJ1
Are Corporate Stakeholders nothing more than “free riders”, explain your answer?
No, corporate stakeholders are not merely "free riders."
Are corporate stakeholders merely taking advantage without contributing?Corporate stakeholders play a vital role in the success and sustainability of a company. They include shareholders, employees, customers, suppliers, and the local community. Each stakeholder group has a vested interest in the company's operations and outcomes.
Shareholders invest their capital, employees contribute their skills and labor, customers provide revenue, suppliers offer goods and services, and the local community supports the company's presence. While stakeholders benefit from the company's success, they also actively contribute to its growth and prosperity.
Read more about free riders
brainly.com/question/2078170
#SPJ1
What is market environment
Answer:
The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.
Explanation:
The internal factors relate to the company itself, such as owners, workers, materials, components, etc.
The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.
Discuss the functions of government necessary for a country
The functions of government are crucial for the proper functioning and development of a country. These functions can vary depending on the type of government system in place, but there are several key functions that are commonly considered necessary for a country's stability and progress.
1. Legislation and Governance: One of the primary functions of government is to create and enforce laws that maintain order, protect individual rights, and promote the welfare of the citizens. Governments establish institutions and frameworks for governance, ensuring the rule of law and providing a system of justice.
2. Defense and Security: Governments are responsible for safeguarding the country and its citizens from external threats. This involves maintaining armed forces, intelligence agencies, and diplomatic relations to protect national security interests.
3. Economic Management: Governments play a crucial role in managing and regulating the economy. They establish fiscal and monetary policies, oversee financial institutions, promote trade, and create an environment that supports economic growth and stability. Government intervention is often necessary to address market failures, promote fair competition, and protect consumers.
4. Social Welfare: Governments have a responsibility to ensure the well-being and social welfare of their citizens. This includes providing basic services such as healthcare, education, social security, and infrastructure development. Governments also implement social policies to address poverty, inequality, and promote equal opportunities.
5. Public Services: Governments are responsible for delivering essential public services, such as transportation, utilities, public safety, and environmental protection. These services are necessary for the functioning of society and improving the quality of life for citizens.
6. Diplomacy and International Relations: Governments engage in diplomatic activities and maintain relationships with other nations. They negotiate treaties, participate in international organizations, and represent the country's interests abroad. Governments also address global challenges, such as climate change and human rights, through international cooperation.
7. Public Communication and Information: Governments have a role in providing transparent and accurate information to the public. They engage in public communication, disseminate information, and promote citizen engagement and participation in the decision-making process.
These functions of government are essential for maintaining social order, promoting economic growth, protecting citizens' rights, and ensuring the overall well-being of a country. Effective governance requires a balance between these functions, adaptability to changing circumstances, and responsiveness to the needs and aspirations of the citizens.
For more such answers on development
https://brainly.com/question/28156728
#SPJ8
How do I file this assignment out?
These steps can be pursued to finish the task: Commence by generating a fresh record or unveiling a void sheet on your preferred word processing application.
What is the filing?Also, Craft a header for the file, like "Task: Enhancing Market Share Strategy. "
Start composing your reply to the task prompt. You may organize your reply in distinct sections or paragraphs to cover every point effectively. As a case in point, commencing with an opening that succinctly elaborates on the assignment's prompt and grants a synopsis of the idea of enhancing market share could be a prudent approach.
Learn more about filing from
https://brainly.com/question/27300507
#SPJ1
In business courses, what are decisions making involving diverse perspectives
Decision making involving diverse perspectives in business courses is a critical aspect that promotes inclusivity, enhances problem-solving skills, and fosters innovation.
Decision making involving diverse perspectives in business courses is a crucial aspect of any business organization.
It refers to the process of making effective and informed decisions based on input from diverse perspectives.
Such decisions are reached through a collaborative approach, where individuals with different backgrounds and expertise work together to achieve a common goal.
It is an essential aspect of effective decision-making, as it helps to mitigate the risk of making hasty or ill-informed decisions that could adversely affect the organization's success.
Diverse perspectives refer to the inclusion of different viewpoints, opinions, and experiences.
It entails involving people from different cultural, social, economic, and ethnic backgrounds, among others.
In business courses, decision making involving diverse perspectives may include strategies such as brainstorming, consultation, and collaboration.
These strategies help to foster creativity, promote innovation, and enhance problem-solving skills.
Additionally, it helps to create a diverse and inclusive organizational culture that values diversity and fosters mutual respect.
In conclusion, decision making involving diverse perspectives in business courses is a critical aspect that promotes inclusivity, enhances problem-solving skills, and fosters innovation.
For more questions on business courses
https://brainly.com/question/24553900
#SPJ8
