What is the return on assets? General accounting A fire has destroyed a large percentage of the financial records of Dana'sDaily Deals. You have the task of piecing together information in orderto release a financial report. You have found the return on equity to be13.8 percent. Sales were $979,000, the total debt ratio was 0.42, and thetotal debt was $548,000. What is the return on assets?a. 6.92%b. 8.00%c. 8.45%d. 9.03%e. 9.29%

Step 1: Define Return on assetsReturn on assets refers to how much profit is generated by a business…

Answered: A fire has destroyed a large percentage…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4TP: You are considering two possible companies for investment purposes. The following data is available...

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The total debt to total assets of the Monroe Company was.65. The total of Monroe's assets was $255,000. The amount of total debt is: O a. $392,703 O b. $165,750 Oc. $392,307 Od.$165,570 A Moving to another question will save this response. K Sho 2 Informative Top..docx acBook/
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You are considering two possible companies for investment purposes. The following data is available for each company. Additional Information: Company A: Bad debt estimation percentage using the income statement method is 6%, and the balance sheet method is 10%. The $230,000 in Other Expenses includes all company expenses except Bad Debt Expense. Company B: Bad debt estimation percentage using the income statement method is 6.5%, and the balance sheet method is 8%. The $140,000 in Other Expenses includes all company expenses except Bad Debt Expense. A. Compute the number of days sales in receivables ratio for each company for 2019 and interpret the results (round answers to nearest whole number). B. If Company A changed from the income statement method to the balance sheet method for recognizing bad debt estimation, how would that change net income in 2019? Explain (show calculations). C. If Company B changed from the balance sheet method to the income statement method for recognizing bad debt estimation, how would that change net income in 2019? Explain (show calculations). D. What benefits do each company gain by changing their method of bad debt estimation? E. Which company would you invest in and why? Provide supporting details.
At the end of the accounting period, Donna's Daisies had Accounts Receivable of $14,000, Bad Debt Expense of $1,250, and Allowance for Doubtful Accounts of $1,575. What is Donna's net realizable value? a.$12,750 b.$11,175 c.$12,425 d.$15,575
You are given the following information. What is your liquidity ratio? Annual disposable income: $45,000 Total liabilities: $17,400 Annual savings: $2,400 Long-term assets: $85,000 Current ratio: 2 Debt-to-asset ratio: 0.2 Select one: a. 0.90 b. 0.56 c. 0.89 d. 0.53
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