Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 18, 2024

The following information was drawn from the accounting records of Jones Company. Net sales $372,414 Net income 54,000 Average total assets 530,000 Average total liabilities

The following information was drawn from the accounting records of Jones Company.

Net sales $372,414

Net income 54,000

Average total assets 530,000

Average total liabilities 320,000

Average total stockholders' equity 210,000

Based on this information, What is the company's net margin (also known as return on sales)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The net margin also known as the return on sales is calculated by dividing n... 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

Step: 3

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

Introduction to Accounting An Integrated Approach

Authors: Penne Ainsworth, Dan Deines

6th edition

78136601, 978-0078136603

More Books

Students also viewed these Accounting questions

Question

Your friend has a one-year project that will bring in either 524,333 (0.35 probability) or 1,290,194 (0.65 probability) at the end of the year. The project requires an outplay 0J $ 750,000 to start....

Answered: 1 week ago

Question

★★★★★

A study of a company's practice regarding the payment of invoices revealed that an invoice was paid an average of 20 days after it was received. The standard deviation equaled five days. Assuming...

Answered: 1 week ago

Question

★★★★★

On January 1, 2013, the following information was drawn from the accounting records of Craven Company: cash of $800; land of $3,500; notes payable of $1,600; and common stock of $1,000. Required a....

Answered: 1 week ago

Question

★★★★★

9 Calculate (3x+x) dx, given the following. Cap [x0x 665 3 xdx= 271 3 19 xdx = 0 2 65 S (3x + x) dx = (Type an integer or a simplified fraction.)

Answered: 1 week ago

Question

★★★★★

Compute the taxable income for 2016 in each of the following independent situations: a. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. In addition to four dependent...

Answered: 1 week ago

Question

★★★★★

The following data (and annotations) are related to the June 2016 charges appearing in the work in process account for Sutter Companys first processing department:: Sutter uses the FIFO method....

Answered: 1 week ago

Question

★★★★★

1. Students must be exposed to a number of different strategies, not only general learning strategies but also very specific strategies for particular subjects, such as the graphic strategies...

Answered: 1 week ago

Question

★★★★★

Optimum Health Inc. provides diet, fitness, and nutrition services to clients who want a healthier lifestyle. The company customizes a program for each client based on their individual goals that...

Answered: 1 week ago

Question

★★★★★

A $10 000 bond with 5% interest payable quarterly, redeemable at par on November 15, 2034, was bought on July 2, 2018, to yield 9% compounded quarterly. If the bond sells at 92.75 on September 10,...

Answered: 1 week ago

Question

★★★★★

La liquidacin en una sociedad se refiere a ________. A. la admisin o retiro de un socio que disuelve la sociedad B. cerrar el negocio vendiendo sus activos y pagando sus pasivos C. aumentar la...

Answered: 1 week ago

Question

★★★★★

An ETF is a. a contract that gives a buyer the right to buy or sell a security at a specified price on or before a certain date. b. an agreement between a buyer and seller to buy an asset at a later...

Answered: 1 week ago

Question

★★★★★

Treasury notes are bonds that mature in 2, 3, 5, 7, and 10 years. True or False

Answered: 1 week ago

Question

★★★★★

If you own a $5,000 bond that has a coupon of 4 percent and pays interest semiannually, how much interest would you receive? a. $200 every six months b. $200 once a year c. $200 every two years d....

Answered: 1 week ago

Question

★★★★★

Compare the resiliency to failure of n-cube to a fully- connected interconnection network. Plot a comparison of reliability as a function of the added number of links for the two topologies. Refer to...

Answered: 1 week ago

Question

★★★★★

Write the Kalman filter equations for an $\operatorname{AR}(1)$ process written is state space form with $H_{t}=1, \alpha_{t}=z_{t}$ and $V_{t}=0, \Omega_{t}=\phi, R_{t}=\sigma_{a}^{2}$. Show...

Answered: 1 week ago

Question

★★★★★

On September 1, Ziegler Corporation had 54,000 shares of $5 par value common stock, and $162,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the...

Answered: 1 week ago

Question

★★★★★

The population of Detroit, Michigan, decreased from 1,027,974 in 1990 to 688,701 in 2013 (Source: U.S. Census Bureau). Find the average rate of change in the population of Detroit, Michigan, over the...

Answered: 1 week ago

Question

★★★★★

Determine which of the basic accounting concepts apply to each of these situations. 1. Business entity 2. Going concern 3. Monetary unit 4. Periodicity A. A company trades a delivery truck for...

Answered: 1 week ago

Question

★★★★★

Examine these cost graphs. Identify the cost and revenue behavior pattern shown for each graph and provide at least one example of a cost and revenue that fits the pattern.

Answered: 1 week ago

Question

★★★★★

Describe the four basic business processes.

Answered: 1 week ago

Question

★★★★★

A university teacher saved every e-mail received from students in a large Introductory Statistics class during an entire term. He then counted, for each student who I had sent him at least one...

Answered: 1 week ago

Question

★★★★★

Here are costs of nine compact refrigerators rated very good or excellent by Consumer Reports on their website www.consumerreports.org. $150 150 160 180 150 140 120 130 120 Find these statistics: a)...

Answered: 1 week ago

Question

★★★★★

During contract negotiations, a company seeks to change the number of sick days employees may take, saying that the annual "average" is 7 days of absence per employee. The union negotiators counter...

Answered: 1 week ago

Previous Question Next Question