Liberty University BUSI 101 Connect Assignment 7 Quiz Power answer.

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The following information is listed on Beck's Bicycles, Inc.'s balance sheet as of 12/30/2016. Assets Liabilities Current Assets $3,000,000.0 0 Current Liabilitites Cash 2,000,000.0 0 Accts. ... Payable $12,000,000 .00 Accts. Receivables 9,000,000.0 0 Inventory Total current Assets $14,000,000. 00 Total Current Liabilities $12,000,000 .00 Fixed Assets $125,000,00 0.00 Long-Term Debt $75,000,000 .00 If Beck's Bicycles, Inc.'s income statement shows gross profit of $350 million, with operating expenses of $120 million, and if Beck's tax rate is 30%, what is the firm's net income after taxes? Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. Her boss asked her to calculate the earnings per share for stockholders. Darby noted that the company's balance sheet showed 44 million shares outstanding. To explain to him that her calculation is correct, Darby's correct response is Financial managers examine the financial data prepared by ________ and make recommendations to top executives about strategies for improving the financial strength of a firm. Mario's Italian Gardens, an authentic Italian restaurant in suburban Chicago, worked with a local bank for a ________. This unsecured source of funds was available for Mario to tap into if he needed immediate funds for the business. He liked the fact that he had a cushion and only used it if he fell short of funds. What is the major problem with selling on credit? Mirembe is interested in receiving income to help save money for her grandson's college education. She is considering investing in the stock of a fast-growing technology company that is promising a rather high dividend rate to shareholders. One thing it will be helpful for Mirembe to remember is Alex Carter wanted to invest in the stock market, but didn't have the entire $10,000 he needed to buy the shares of the company he wanted. Alex does have $7,000, so he decided to borrow the remainder of the stock's purchase price from his broker in order to be able to buy the stock he wanted. Alex is A company that issues _______ has a legal obligation to make regular interest payments and to repay the principal amount at a prescribed time. The best type of bond for an investor to buy who wants extremely low risk is a In a private company's accounting system, inputs are __________ and outputs are _________. Which of the following describes an activity associated with accounting? The primary purpose of accounting is to Buying and selling goods, acquiring insurance and using supplies represent __________ transactions. Ledgers are used to compile information to complete which of the following? The accounting cycle is a six-step process that results in If you were working as a bookkeeper, the first action you would take is to A specialized accounting book in which information is accumulated into specific categories and posted so managers can find all information about one account in the same place is a [Show More]

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