A company has net income of $250,000, net sales of $2,000,000, and average total assets or $1,500,000. Its return on total assets equals
Q: Kindly help me with general accounting question
A: To calculate the recognized gain or loss on the sale.Step 1: Calculate the cost basis per share for…
Q: Account problrms
A: Key InformationCost of Goods Available for Sale: $820,000Gross Profit Rate: 30%Sales: $600,000Step…
Q: Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data…
A: To calculate the inventory value under the lower-of-cost-or-market (LCM) rule, we compare the cost…
Q: The ending inventory of finished goods has a total cost of $13,800 and consists of 1,000 units. If…
A: Concept of Total Cost of Finished GoodsThe total cost of finished goods represents the sum of all…
Q: What was the company's gross profit margin percentage?
A: Step 1: Define Gross ProfitGross profit is a financial matrix that refers to the total amount of…
Q: How much net operating income will be reported for the period?
A: Step 1: Define Net Operating IncomeNet operating income is a line item on the income statement. It…
Q: What was the stockholders equity at the end of the year ?
A: Step 1: Define Stockholders' EquityStockholders' Equity is the residual interest in the assets of a…
Q: If a firm's beginning inventory is $20,000, purchases are $110,000, and the cost of goods sold is…
A: **Ending Inventory = Beginning Inventory + Purchases - Cost of Goods Sold (COGS)**This formula…
Q: Can you please give me correct answer the financial accounting question?
A: Step 1: Define Capital Asset Pricing Model (CAPM)The CAPM equation is used to ascertain the rate of…
Q: I need this question answer general Accounting
A: Step 1: Define Receivables TurnoverThe receivables turnover is the ratio of the credit sales…
Q: Need help with this financial accounting question
A: To calculate the cash proceeds from the discounted note, we use the formula: Cash Proceeds = Face…
Q: Provide answer the following requirements on these general accounting question
A: Step 1: Define Return on AssetIn the return on asset financial ratio, the total average asset of the…
Q: None
A: For this question we need to compute for the ROCE. Return on Common Equity (ROCE) is a metric that…
Q: ANSWER THIS
A: To calculate the total cash from operating activities, we use the indirect method, which starts with…
Q: Don't wrong answer
A: Explanation of Days in Inventory:Days in inventory measures the average number of days a company…
Q: General accounting
A: To calculate Janice's AGI (Adjusted Gross Income), we need to subtract any deductions allowed from…
Q: General accounting
A: Step 1:First calculate the cost using markup percentage on sales: Markup percentage on sale = Markup…
Q: What is the reat risk free rate on these financial accounting question?
A: Real Risk-free Rate = r-(IP+DRP+LP+MRP) Where,r = Nominal interest rateIP = Inflation premiumDRP =…
Q: Subject = General Account
A: Step 1: Provided DataProductTotal Cost ($)Total NRV…
Q: On June 15, Bella Inc. borrowed $90,000 cash from Wells Fargo by signing a 6.6%, 60-day note…
A: Explanation of Note Payable: A note payable is a financial obligation where a borrower promises to…
Q: How much will be the cogs after the proration?
A: Step 1: Calculate Overapplied or Underapplied OverheadStep 2: Determine the Total Applied Overhead…
Q: What is its net income?
A: Step 1: Calculate Total EquityThe debt ratio is the proportion of total assets financed by debt. We…
Q: I need this question answer general accounting
A: Step 1: Given Value for Calculation Future Value = fv = $150,000Time = t = 10Interest Rate = r = 12%…
Q: Do fast answer of this general accounting question
A: Step 1: Define MarkupIt is an amount added to the product's cost price to compute the selling price.…
Q: please post in general account subject
A: Detailed explanation:Variable Costing Income Statement includes only variable manufacturing costs,…
Q: General accounting
A: Explanation: Income summary account is used for closing the temporary accounts.First, sales revenue…
Q: Hi expert please give me answer general accounting
A: Detailed explanation:Given :Fixed Asset Cost $ 15800Residual Value $ 300Useful Life 5 yearsAcquired…
Q: A company gross profit margin increase solution general accounting question
A: Step 1: Definition of Gross ProfitGross Profit: The difference between revenue and the cost of goods…
Q: Account subject issue
A: Preparing a Variable Costing Income StatementThe Variable Costing Income Statement separates…
Q: The total cost?
A: Explanation of Activity-Based Costing (ABC)Activity-Based Costing (ABC) is a costing method that…
Q: How much overhead cost would be assigned to Product V91Z?
A: Explanation of Activity-Based Costing (ABC):Activity-Based Costing (ABC) is a method of allocating…
Q: Basic inventory data for April 30 are presented below for a business that employs the lower of cost…
A: Solution: Lower of Cost or MarketThe Lower of Cost or Market (LCM) rule compares the unit cost price…
Q: Don't use ai given answer accounting questions
A: To calculate the ending balance of accumulated other comprehensive income (AOCI), we need to…
Q: Calculate the equity premium
A: Step 1: Given Value for Calculation Stock Market Return = smr = 12.5%T-bill rate = tbr = 4.1% Step…
Q: Do fast answer of this general accounting question
A: Step 1: Definition of Manufacturing Overhead CostsManufacturing overhead costs are all indirect…
Q: On December 1, 2022, Oriole's Company Accounts Receivable balance was $19,720. During December,…
A: Explanation of Accounts ReceivableAccounts Receivable refers to the amounts a company is owed by…
Q: Hello teacher please help me with general accounting question
A: Step 1: Definitions of Key MetricsReceivables Turnover: This metric measures how many times a…
Q: expert of account answer this.
A: Step 1: Understanding the ProblemThe problem provides the following information:Opening Tax…
Q: Dorchester Company, on March 1, 2019, has a beginning Work in Process inventory of zero. All…
A: Step 1: Key InformationUnits started: 18,500 units.Units completed and transferred out: 10,000…
Q: What is the number of shares outstanding? General accounting
A: Step 1: Definition of Outstanding SharesOutstanding shares are the shares of a corporation that are…
Q: What is the unit product cost under absorption costing?
A: Step 1: Define Absorption CostingIn accounting, absorption costing refers to the costing method that…
Q: Solve this financial accounting question
A: Step 1: Define Credit SalesA company sells its goods on credit to the customers to increase its…
Q: None
A: Step 1: Define Mark-upMark-up is the cost added to the cost of the product or service by the seller…
Q: What is the degree of opereting leverage? General accounting
A: The degree of operating leverage (DOL) can be calculated using the following formula: DOL =…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA): Measures the efficiency of a…
Q: The following information is provided by the Salinger Corporation for the year: Actual direct labor…
A: To calculate the predetermined overhead rate, use the formula: Predetermined Overhead Rate =…
Q: Crane and Loon Corporations, two unrelated C corporations, have the following transactions for 2015:…
A: Step 1: Determine the DRD PercentageFor domestic corporations, the DRD percentage depends on the…
Q: The accountant for Murphy Company prepared the following analysis of its inventory at year-end: Item…
A: Key Information ProvidedFor each inventory item, the following data is given:Units: Number of units…
Q: Use the following data to determine the amount that total inventory should be reported on the…
A: Step 1: Understand the RuleFor each commodity, compare the unit cost price and unit net realizable…
Q: Need help give answer
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
I won't to this question answer general accounting question
Step by step
Solved in 2 steps
- A company had net income of $2,665,000, net sales of $25,500,000, and average total assets of $8,500,000. Its return on total assets equalsGiven the correctThe balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%
- AccountingQuestion: A company had net income of $2,660,000, net sales of $25,000,000, and average total assets of $8,000,000. What is their return on total assets?A company reports the following income statement and balance sheet information for the current year: Line Item Description Amount Net income $390,000 Interest expense 60,000 Average total assets 4,500,000 Determine the return on total assets.
- Selected data from Decco Company are presented below: Total assets $1,600,000 Average assets 2,000,000 Net income 380,000 Net sales 1,500,000 Average common stockholders' equity 1,000,000 Instructions Calculate the following profitability ratios from the above information. 1. Profit margin. 2. Asset turnover. 3. Return on assets.General accountingThe balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%
- A company reports the following income statement and balance sheet information for the current year:Net income $ 410,000Interest expense 90,000Average total assets 5,000,000Determine the return on total assets. Round percentage to one decimal place.Financial Information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) Interest Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Earnings before taxes (EBT) Taxes (25%) Net Income Common dividends Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars) 2020 2021: $ b. What was the 2021 free cash flow? 2021 $3,300.0 2,805.0 $495.0 $ 2020 $3,000.0 2,550.0 $450.0 72.0 $378.0 66.0 $312.0 124.8 $187.2 $181.6 $149.8 -Select- 86.0 $ 409.0 72.6 $ 336.4 134.6 $201.8 2021 50.0 $ 483.0 725.0 $1,258.0 864.0 $2,122.0 $264.0 225.0 Notes payable 66.0 Total current liabilities $ 555.0 Long-term bonds 660.0 Total liabilities…The income statement of Tavis Corporation and selected additional data are presented below: Tavis Corporation Income Statement for the Year Ended December 31, 2020 Net sales $220,000 Cost of goods sold __109,000 Gross profit 111,000 Selling and general expenses _98,000 Income from operations 13,000 Interest expense __2,500 Income before income tax 10,500 Income tax expense __3,000 Net income $ 7,500 Additional data: Total assets $214,000 Common stockholders’ equity $116,000 Preferred dividends…