The Bright Growth Fund had an average daily total assets of $120 million for the recently completed year. During this period, its stock purchases were $25 million, while its sales totalled $15 million. What was Bright Growth Fund's turnover?
Q: Hiii, tutor give answer
A: To get the dollar markup and cost price when the markup is derived from the selling price, we…
Q: Please give me true answer this financial accounting question
A: Step 1: Define Absorption CostingUnder absorption costing, all variable and fixed manufacturing…
Q: Das Corp had originally expected to earn operating income of $150,000 in the coming year. Das's…
A: To find the percent change in operating income:Degree of Operating Leverage (DOL) = % change in…
Q: Kindly help me with of this general accounting question
A: Step 1: Define Absorption Costing Unit Product CostAbsorption costing includes all manufacturing…
Q: Help
A: Explanation of Activity-Based Costing: Activity-Based Costing (ABC) is a costing methodology that…
Q: I need help
A: To calculate the dollar markup and cost:
Q: need true answer of this General accounting question
A: Concepts:Before-Tax Yield: This is the return on investment before accounting for taxes. In this…
Q: General accounting
A: To determine the Price-Earnings (P/E) ratio, we use the following formula:P/E=r−g1−bwhere:b =…
Q: Financial Accounting Question need help with this accounting question
A: Step 1: Return on Assets (ROA)Return on Assets (ROA) measures how efficiently a company utilizes its…
Q: i want to correct answer
A: Step 1: Definition of Beginning Cash BalanceThe beginning cash balance is the amount of cash a…
Q: ?? Financial accounting
A: Step 1: Define Variable Expenses per UnitVariable expenses per unit represent the costs that vary…
Q: Not Ai solution
A: Concept of Overhead CostsOverhead costs refer to the indirect expenses incurred in manufacturing a…
Q: need this question answer General accounting
A: Income statementRevenue$385,000Operating expenses$198,700Depreciation $42,300EBIT$144,000Taxes…
Q: None
A: Variance = Actual Cost - Expected CostGiven:Fixed cost per month = 1800Variable cost per pottery…
Q: Frick Company uses a job order cost system and applies overhead based on estimated rates. The…
A: To determine the correct answer, follow these steps: Calculate the Overhead Application Rate:The…
Q: Based on the following data, what is the amount of current assets? Accounts payable $62000 Accounts…
A: In accounting, current assets are all assets that a company expects to convert to cash within one…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method where an…
Q: Your boss at LK Enterprises asks you to compute the company's cash conversion cycle. Looking at the…
A: 1. Calculate the Days Inventory Outstanding (DIO):DIO = (Average Inventory / Cost of Goods Sold) *…
Q: Please give me answer accounting
A: Step 1: Definition of Corporate Tax LiabilityCorporate tax liability is the total amount a company…
Q: please provide correct answer
A: To calculate the present value of the note, we use the given information:The present value of an…
Q: Please provide problem with accounting answer
A: Step 1: Definition of Annual Cash Flow CalculationAnnual cash flows for a capital investment project…
Q: A fulfillment center manages warehouse orders for multiple online retailers. The company applies…
A: Step 1: Definition of Variable Overhead Efficiency VarianceThe Variable Overhead Efficiency Variance…
Q: answer plz
A: Free cash flow (FCF) is the level of cash that a firm generates after subtracting the level of…
Q: Provide correct answer
A: To determine the debt-to-equity ratio after the dividend payment, follow these steps:Step 1:…
Q: Hello tutor solve this problem and accounting
A: Step 1: Definition of LiabilitiesLiabilities are the financial obligations or debts a company owes…
Q: what is the contribution margin per unit
A: Step 1: Definition of Contribution Margin per UnitContribution Margin per Unit: Contribution margin…
Q: Under absorption costing, the ending inventory for the year woutbe valued at
A: Concept of Absorption CostingAbsorption costing is an accounting method that includes all…
Q: Financial accounting
A: Step 1: Define After-Tax ReturnThe After-Tax Return represents the effective yield on an investment…
Q: Find the company's price to earnings ratio of this financial accounting question
A: Step 1: Define Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) Ratio measures the valuation…
Q: Pahr Industries bases its predetermined overhead rate on the estimated labor hours for the upcoming…
A: Explanation of Predetermined Overhead Rate:The Predetermined Overhead Rate is an estimated overhead…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Gross Profit PercentageGross profit percentage is a financial metric that…
Q: Step by step answer
A: Concept of Overhead Application RateThe overhead application rate is the predetermined rate used to…
Q: determine the cash payments made during May
A: Step 1: Definition of Cash PaymentsCash payments refer to the total amount of cash a business…
Q: ???!!
A: Formula for Operating Leverage:Operating leverage is calculated using the degree of operating…
Q: What is the correct option? General accounting question
A: Step 1:Under the balance sheet approach, the ending balance of the allowance account is equal to the…
Q: Bradford Enterprises sells two products, blue pens and green notebooks. Bradford predicts that it…
A: Weighted Average Contribution Margin = (Sum of (Unit Contribution Margin × Units Sold)) / Total…
Q: Robinson Manufacturing discovered the following information in its accounting records: $519,800 in…
A: Step 1:The cost of goods manufactured can be calculated by adding beginning work in process…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Net IncomeNet income is the total profit a company earns after deducting all…
Q: The records of Tillman Corporation's initial and unaudited accounts show the following ending…
A: The production cost report for Tillman Corporation using the weighted-average method is prepared by…
Q: A company issues 40,000 shares of $5 par value common stock at $9 per share. As a result of this…
A: Step 1: Definition of Paid-in CapitalPaid-in Capital (also known as Additional Paid-in Capital -…
Q: Subject: financial accounting
A: Explanation of Bank Deposit: A bank deposit occurs when a customer places money into a financial…
Q: General accounting
A: To determine the rate of return on Wilson Finance's investment, we use the following formula:Rate of…
Q: A company has an accounts receivable turnover ratio equal to 15. What is its number of days' sales…
A: Explanation of Accounts Receivable Turnover Ratio: The accounts receivable turnover ratio is a…
Q: Calculate falcon Enterprises gross margin ratio
A: The Gross Margin Ratio is also the most significant financial ratio, with its measurement of the…
Q: what is the firm's return on assets?
A: Step 1: Understanding Return on Assets (ROA)Return on Assets (ROA) measures a company's efficiency…
Q: Question with answer accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the direct…
Q: Calculate the total equivalent units
A: Explanation of Equivalent Units of Production: Equivalent units of production is a managerial…
Q: give me this question answer
A: Step 1:Under process costing, equivalent units concept is used to calculate cost of process.…
Q: ??
A: Explanation of Statement of Cash Flows: The Statement of Cash Flows is a financial statement that…
Q: answer ? Financial Accounting
A: Step 1: Define EBIT (Earnings Before Interest and Taxes)EBIT represents a company's earnings before…
What was Bright Growth Fund's turnover of this financial accounting question?
Step by step
Solved in 2 steps
- The New Fund had average daily assets of $2.2 billion last year. The fund sold $400 million worth of stock and purchased $500 million during the year. What was its turnover ratio?A mutual fund sold $60 million of assets during the year and purchased $78 million in assets. If the average daily assets of the fund were $256 million, what was the fund turnover?The New Fund had average daily assets of $3.9 billion last year. The fund sold $540 million worth of stock and purchased $680 million during the year. What was its turnover ratio? (Round your answer to 1 decimal place.)
- A sector fund specializing in commercial bank stocks had average daily assets of $8.6 billion during the year. This fund sold $3.94 billion worth of stock during the year, and its turnover ratio was 0.45. How much stock did this mutual fund purchase during the year?The Optical Scam Company has forecast a sales growth rate of 20 percent for next year. Current assets, fixed assets, and short-term debt are proportional to sales. The current financial statements are shown here: Sales Costs Taxable income Taxes Net income Dividends Addition to retained earnings Current assets Fixed assets Total assets Assets Current assets Fixed assets INCOME STATEMENT Total assets $ 7,230,000 18,390,000 $ 1,149,982 1,724,853 Assets b-2. External financing needed c. Sustainable growth rate $ 25,620,000 a. Calculate the external funds needed for next year using the equation from the chapter. Note: Do not round intermediate calculations. External financing needed b-1. Prepare the firm's pro forma balance sheet for next year. Note: Do not round intermediate calculations. BALANCE SHEET Short-term debt Long-tern debt Common stock Accumulated retained earnings $ 30,500,000 26,077,300 $ 4,422,700 1,547,945 $ 2,874,755 Liabilities and Equity Total equity Total liabilities and…Suppose that Maphisa Plc has the following balance sheet and that sales for the year just ended were $7 million. The firm also has a profit margin of 27 percent, a retention ratio of 20 percent, and expects sales of $8 million next year. If all assets and current liabilities are expected to grow with sales, what additional funds will Maphisa Plc need from external sources to fund the expected growth? Assets Liabilities and Equity
- Company is planning its operations for next year, and as its CFO, you will need to forecast the company’s additional funds needed (AFN) based on the following data. Dollars are in millions. Last year’s sales = $364 Last year’s accounts payable = $58Sales growth rate = 30% Last year’s notes payable = $50Last year’s total assets = $548 Last year’s accruals = $30Last year’s profit margin = 5.32% Target payout ratio = 60% Your company is operating at full capacity. Based on the AFN formula and the Percentage of Sales method, what is the AFN for the coming year? Round your answer to two decimal places of dollar, but ignore dollar and millions, e.g., xxx.xx. (Hint: Use the AFN General Formula in Financial Forecasting.) Answer:Suppose that Barone Corporation's sales are expected to increase from $5 million this year (year 0) to $6 million next year (year 1). Its assets totaled $2,500,000 in year 0. Barone is at full capacity, so its assets must grow in proportion to projected sales. At the end of year 0, current liabilities are $800,000, consisting of $200,000 of accounts payable, $400,000 of notes payable, and $200,000 of accrued liabilities. Barone's profit margin is forecasted to be 3.00% and the forecasted retention ratio is 25.00%. Barone seeks to forecast the additional funds needed using the AFN equation. Let A represent Barone's assets and So represent sales in year 0. Let AS represent the change in sales in from year 0 to year 1. According to the video, which of the following best represents the projected increase in assets as part of the AFN equation? -AS + AS × AS × So Using the formula from the video, the projected increase in assets, as part of the AFN equation, is(B) Based on the following information, how much does the company need in external funds for the upcoming fiscal year? The company has Sales $ 5,700, Costs 4,200, Current assets 3,900, Fixed assets 8,100, Current liabilities 2,200, Long-term debt 3,750, and Equity 6,050. Sales increase 15% for the upcoming fiscal year. Payout ratio is 40% and Tax rate is 34%.
- Help me this questionThe Optical Scam Company has forecast an 17 percent sales growth rate for next year. The current financial statements are shown below. Current assets, fixed assets, and short-term debt are proportional to sales. INCOME STATEMENT Sales $ 47,000,000 Costs 37,900,000 Taxable income $ 9,100,000 Taxes 3,185,000 Net income $ 5,915,000 Dividends $ 2,366,000 Additions to retained earnings $ 3,549,000 BALANCE SHEET Assets Liabilities and Equity Current assets $ 15,930,000 Short-term debt $ 12,690,000 Long-term debt 13,190,000 Fixed assets 40,000,000 Common stock $ 4,000,000 Accumulated retained earnings 26,050,000 Total equity $ 30,050,000 Total assets $ 55,930,000 Total liabilities and equity $ 55,930,000…Find the profitability index (PI) for the following series of future cash flows, assuming the company’s cost of capital is 13.85 percent. The initial outlay is $328,041. Year 1: $196,585 Year 2: $165,370 Year 3: $148,695 Year 4: $188,689 Year 5: $128,457
