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Assume Meyer Corporation is 100% equity financed. Calculate the return on equity, given the following information: 1) Earnings before taxes=$1,500 2) Sales=$5,000 3) Dividend pay-out ratio=60% 4) Total assets turnover=2.0 5) Applicable tax rate=30% Determine the due date and the amount of interest due at maturity on the following notes: Date of note Face amount Interest Rate Term of Note a. January 6 40,000 9% 45 days b. March 23 9,000 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30 The following information is taken from the books of Nicki Incorporated: July Beginning inventory $20.161.17 Sales Gross profit Ending inventory August $15,333.36 $115,869.88 $94,299.18 42.02% $15,333.36 42.02% $? If the purchases for August are the same as July, what is the ending inventory on August 31? a. $117,033.51 b. $52,823.81

Assume Meyer Corporation is 100% equity financed. Calculate the return on equity, given the following information: 1) Earnings before taxes=$1,500 2) Sales=$5,000 3) Dividend pay-out ratio=60% 4) Total assets turnover=2.0 5) Applicable tax rate=30% Determine the due date and the amount of interest due at maturity on the following notes: Date of note Face amount Interest Rate Term of Note a. January 6 40,000 9% 45 days b. March 23 9,000 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30 The following information is taken from the books of Nicki Incorporated: July Beginning inventory $20.161.17 Sales Gross profit Ending inventory August $15,333.36 $115,869.88 $94,299.18 42.02% $15,333.36 42.02% $? If the purchases for August are the same as July, what is the ending inventory on August 31? a. $117,033.51 b. $52,823.81

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume Meyer Corporation is 100% equity financed. Calculate the return on equity, given the following information: 1) Earnings before taxes=$1,500 2) Sales=$5,000 3) Dividend pay-out ratio=60% 4) Total assets turnover=2.0 5) Applicable tax rate=30% Determine the due date and the amount of interest due at maturity on the following notes: Date of note Face amount Interest Rate Term of Note a. January 6 40,000 9% 45 days b. March 23 9,000 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30 The following information is taken from the books of Nicki Incorporated: July Beginning inventory $20.161.17 Sales Gross profit Ending inventory August $15,333.36 $115,869.88 $94,299.18 42.02% $15,333.36 42.02% $? If the purchases for August are the same as July, what is the ending inventory on August 31? a. $117,033.51 b. $52,823.81
Transcribed Image Text:Assume Meyer Corporation is 100% equity financed. Calculate the return on equity, given the following information: 1) Earnings before taxes=$1,500 2) Sales=$5,000 3) Dividend pay-out ratio=60% 4) Total assets turnover=2.0 5) Applicable tax rate=30% Determine the due date and the amount of interest due at maturity on the following notes: Date of note Face amount Interest Rate Term of Note a. January 6 40,000 9% 45 days b. March 23 9,000 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30 The following information is taken from the books of Nicki Incorporated: July Beginning inventory $20.161.17 Sales Gross profit Ending inventory August $15,333.36 $115,869.88 $94,299.18 42.02% $15,333.36 42.02% $? If the purchases for August are the same as July, what is the ending inventory on August 31? a. $117,033.51 b. $52,823.81
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