A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Question

Q: Calculate each year's gross profit percentage????

A: Step 1: Define Gross ProfitGross profit is the profit earned over the cost of goods sold. It is…

Q: Sheffield Company reports pretax financial income of $63,900 for 2017. The following items cause…

A: Step 1: Determine Taxable IncomeTo calculate taxable income, we start with the pretax financial…

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A: The income tax expense reported in the income statement is the total of the current tax provision…

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A: Step 1: Define Units-of-activity MethodThe units-of-activity method of depreciation calculates…

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A: Step 1: Formula Accounts receivable turnover = Net credit sales/Average accounts receivable  Step 2:…

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A: Step 1: Define Accounting ElementsThe three accounting elements of the statement of financial…

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A: Step 1: Definition of Net Operating Income (NOI)Net Operating Income (NOI) is the profit remaining…

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A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated…

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A: Step 1: Definition of Degree of Operating LeverageDegree of operating leverage (DOL) measures the…

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A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method of allocating…

Q: On July 1, the accounts receivable account balance was $77,500. During July, $335,000 was collected…

A: Explanation of Accounts Receivable:Accounts receivable represents the amount owed by customers for…

Q: What is the amount of current liabilities on these general accounting question?

A: Step 1: Define Current LiabilitiesCurrent liabilities are obligations a company expects to settle…

Q: The Boxwood Company sells blankets for $60 each. It has no beginning inventory on May 1. Assuming…

A: To determine the ending inventory value for the month of May using the FIFO (First-In, First-Out)…

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A: Step 1: Definition of Direct Material Price VarianceThe Direct Material Price Variance measures the…

Q: What was the net change in total assets on these financial accounting question?

A: Step 1: Define Change in Total AssetsThe Change in Total Assets refers to the difference in the…

Q: A company has sales of $389,000 and cost of goods sold of $174,000. What is the gross profit margin?…

A: Concept of Gross Profit: Gross Profit is the financial gain a company makes after deducting the cost…

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A: Concept of Current LiabilityA current liability is a financial obligation a company is required to…

Q: What amount should be recorded for the land ?

A: Step 1: Definition of Allocated Asset CostWhen a group of assets is purchased together for a lump…

Q: A company has a net income

A: Concept of Net Income: Net income is the total profit a company earns after deducting all expenses,…

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A: Step 1: Calculate Total Amount Received• Stock Value: $200,000• Boot (Company Vehicle): $30,000•…

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A: Step 1: Define Profit Margin RatioThe profit margin ratio tells us the percentage of profit in the…

Q: What was the cost of goods sold for the year ?? General accounting

A: Step 1: Define Manufacturing CompaniesIn business and finance, manufacturing companies produce and…

Q: The cost of goods sold is found on

A: Concept of Cost of Goods Sold (COGS): COGS represents the direct costs of producing or purchasing…

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A: Step 1: Define Interest ExpenseInterest expense represents the cost incurred by an entity for…

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A: Step 1: Define Contribution Margin RatioThe contribution margin ratio quantifies the percentage of…

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A: Step 1: Define Importance of margins in futures tradingFutures contracts are traded in exchanges,…

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A: Approach to solving the question: For better clarity of the solution, I have provided both the…

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A: Step 1: Define Gross ProfitNet sales are reduced by the cost of products sold to generate gross…

Q: Monie, an individual taxpayer, owns 50% of Monie & Co, an S Corporation. At the beginning of 20X4,…

A: Explanation: To determine the taxability of the distribution made in the hands of Monie, we need to…

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A: To determine Bearing's Adjusted Gross Income (AGI), we calculate taxable income by considering all…

Q: What is the fixed cost per month for this accounting question?

A: Step 1: Define Fixed CostFixed costs are the costs that remain constant regardless of the level of…

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A: Step 1: Book value Book value = Original cost - Accumulated depreciationBook value = $400,000 -…

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A: Step 1: Define Standard Labor Cost Per Output UnitThe standard labor cost per output unit is the…

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A: The P/E ratio (Price-to-Earnings ratio) is calculated as:P/E Ratio = Price per Share / Earnings per…

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A: Step 1: Definitions of Selling Price: The amount received from selling the asset.Book Value: The net…

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A: Approach to solving the question: For better clarity of the solution, I have provided both the…

Q: Calculate it's gross margin ratio?

A: Step 1: Determine Gross Margin: Subtract the cost of goods sold (COGS) from net sales.Step 2: Apply…

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A: Entry AnalysisThe journal entry is:              Debit: Depreciation Expense6,000…

Q: Gross profit of $1.25 on each sale ?

A: To determine the selling price per cookie to earn a gross profit of $1.25 on each sale: The formula…

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A: Explanation of Sales Revenue:Sales revenue refers to the total amount earned by a company from…

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A: Step 1: Define Gross Profit Gross profit is calculated as the difference between the revenue (or…

Q: For each variable cost per unit listed below, determine the total variable cost when units produced…

A: Step 1: Given DataThe variable costs per unit for each category are:Direct Materials: $20/unitDirect…

Q: Calculate the contribution margin per unit, in total, and as a ratio.

A: Step 1: Key InformationSelling Price per Unit: $90Variable Cost per Unit: $50Fixed Costs: $2,500 per…

Q: Aaker Corporation, which has only one product, has provided the following data concerning its most…

A: Explanation: In the given case, we are required to calculate the unit product cost under variable…

Q: R-Mart has a beginning receivables balance on February 1 of $1050. Sales for February through May…

A: Explanation of Accounts Receivable:Accounts receivable represent the amount owed to a company by its…

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A: Step 1: Define Asset DisposalA company can sell its fixed asset after it is fully utilized or even…

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A: Approach to solving the question:Freeform Detailed explanation: To calculate the net profit for the…

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A: Step 1: Define EquityEquity refers to the amount of money that will be returned to the owners if the…

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A: Step 1: Define Profit MarginProfit margin measures the percentage of sales revenue that translates…

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A: Step 1: Calculate the total amount received:.Step 2:  Identify Michael's adjusted basis in the…