Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i in your business, assets, and liabilities have h

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

90.2K

Verified Solution

Question

Accounting

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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students