Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 79 percent of sales, and liabilities are usually 50 percent

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 79 percent of sales, and liabilities are usually 50 percent of sales. Your sales next year will be $208,000 which represents an increase of $43,000. Your profit margin is 10.34 percent. You anticipate that you will have an 31 owner payout of net profit. Using the percentage of sales method, determine the amount of additional financing or surplus for your business next year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Food And Beverage Cost Control

Authors: Lea R. Dopson, David K. Hayes

5th Edition

0470251395, 978-0470251393

More Books

Students also viewed these Accounting questions

Question

Explain why the statement of cash fl ows is so important.

Answered: 1 week ago

Question

5. Save raster im?

Answered: 1 week ago