Assume that retained earnings increased by $62,850 from June 30 of year 1 to June 30 of year 2. A cash dividend of $13,500 was declared and paid during the year. Compute the net income for the year.

Q: Compute the rate of return on average common shareholders equity

A: Final Answers:ROE for 2014 = 16.43%ROE for 2015 = 18.54%

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A: Step 1: Definition of Cash BalanceThe cash balance refers to the amount of cash available in a…

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A: Step 1: Definition of Direct Materials Quantity VarianceThe Direct Materials Quantity Variance…

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A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…

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A: Step 1: DefinitionsAccounting Equation: A fundamental concept in accounting that ensures a company's…

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A: Explanation of Absorption Costing: Absorption costing is a product costing method that assigns all…

Q: None

A: Final Answer:The Operating Return on Assets (OROA) is 6%

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A: Explanation of Sales Volume Variance:Sales Volume Variance measures the financial impact of selling…

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A: Step 1: Definition of Weighted Average MethodThe weighted average method in process costing…

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A: Step 1: Definition of Net Working CapitalNet Working Capital (NWC) is the difference between a…

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A: Calculation of Average InventoryAverage Inventory = (Beginning Inventory + Ending Inventory) / 2…

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A: Solution: Computing the Variable Cost per Unit Using the High-Low MethodThe high-low method…

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A: Step 1:First calculate the predetermined overhead rate: Predetermined overhead rate = Total…

Q: ABC Inc. provides the following financial data: Profit Margin Ratio: 4.5% Asset Turnover Ratio: 2.5…

A: Final Answer:The Return on Investment (ROI) is 11.25%.

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A: Step 1: Define Return on Equity (ROE) Using DuPont AnalysisReturn on Equity (ROE) is a financial…

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A: Step 1: Definition of Contribution MarginContribution margin is the difference between the selling…

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A: Resources owned by a company, such as cash, accounts receivable, vehicles, equipment, and buildings,…

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Q: what is the sustainable growth rate?

A: Explanation:Plow back ratio, b=1-Payout ratio                          b = 1-0.30 = 0.70 ROE=Profit…

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A: Step 1: Definition of Net IncomeNet income is the total profit a company earns after deducting all…

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A: Explanation of Beginning Work in Process (WIP):Beginning Work in Process (WIP) refers to the number…

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A: Step 1: Introduction to trial balanceTrial balance is a summary showing the ending balances of all…

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A: Step 1: Definition of Accounting EquationThe accounting equation is the fundamental principle in…

Q: What was the amount of sales for the month

A: Final Answer:The amount of sales for the month was $37,058.82.

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A: Explanation of Accounting Equation:The Accounting Equation is a fundamental concept in accounting…

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A: To calculate Return on Equity (ROE), we use the formula:ROE = (Net Income / Shareholders' Equity) ×…

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A: Step 1: Definition of Profit MarginThe Profit Margin is a financial metric that indicates the…

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A: Step 1: Shareholders' Equity is the amount invested by the owners in the business. In the business…

Q: Kendrick Industries provided the following financial data: ⚫ Net Income = $30,120 Assets at the…

A: LET'S  UNDERSTAND THE QUESTION:We are given financial data for Kendrick Industries, including:Net…

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A: Explanation of Direct Labor Rate Variance:The direct labor rate variance is the difference between…

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A: To estimate the July 31 inventory using the gross profit method, follow these steps:Step 1:…

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A: Step 1: Definition of Gross Profit MethodThe Gross Profit Method is used to estimate ending…

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A: Step 1: Define Return on Common Stockholders' Equity (ROE)Return on common stockholders' equity…

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A: The receivable turnover ratio is calculated using the formula:Receivable Turnover Ratio = Net Credit…

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A: Step 1:First, calculate the units produced in the month of February: Units produced = Estimated…