Blue Horizon Utilities had a net income for the month of May of $64,500. Assets as of the beginning and end of the month totalled $410,000 and $550,000, respectively. Calculate Blue Horizon Utilities' ROA for the month of May.
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Calculate blue horizon utilities roa for the month of May on these general accounting question
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- Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?Assume the following data for Blossom Tattoo Parlor for the quarter ended September 30. • Number of employees for third quarter: 7 • Gross earnings $65,823.60 • Employee FICA taxes $5,038.96 • Federal income tax $13,746.80 • State income tax $2,099.20 • Employer FICA taxes $5,037.96 • Federal unemployment tax $18.70 • State unemployment tax $151.12 • Monthly federal income tax and FICA tax liability: July $8,797.72, August $8,077.33, and September $6,916.60 • Federal income tax and FICA tax total monthly deposits for third quarter: $24,197.10 What amounts would be entered on Form 941 for the following line items? (Round answers to 2 decimal places, e.g. 52.75.) Line 3: Federal income tax withheld. $enter a dollar amount rounded to 2 decimal places Line 5a (Column 2): Taxable Social Security wages. $enter a dollar amount rounded to 2 decimal places Line 5c (Column 2): Taxable Medicare wages and tips. $enter a dollar…What is summits net income for the year? General accounting
- What is the average accounts payable balance?Martinez Industries had the following operating results for 2021: Sales = $33,308; Cost of goods sold = $23,722; Depreciation expense = $5,897; Interest expense = $2,660; Dividends paid = $1,906. At the beginning of the year, net fixed assets were $19,840, current assets were $6,984, and current liabilities were $3,932. At the end of the year, net fixed assets were $24,412, current assets were $8,624, and current liabilities were $4,583. The tax rate for 2021 was 22 percent. a. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt…Calculate Average Payables Periods For the first year, Hawkeye, Inc., has a cost goods sold of $95,318. At the end of the year, the accounts payable balance was $22,816. How long, on average, did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?
- Martinez Industries had the following operating results for 2021: Sales = $34,318; Cost of goods sold = $24,212; Depreciation expense = $5,997; Interest expense = $2,710; Dividends paid = $1,996. At the beginning of the year, net fixed assets were $19,940, current assets were $7,054, and current liabilities were $3,992. At the end of the year, net fixed assets were $24,502, current assets were $8,684, and current liabilities were $4,673. The tax rate for 2021 was 22 percent. a. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued…Martinez Industries had the following operating results for 2021: Sales = $34,318; Cost of goods sold = $24,212; Depreciation expense = $5,997; Interest expense = $2,710; Dividends paid = $1,996. At the beginning of the year, net fixed assets were $19,940, current assets were $7,054, and current liabilities were $3,992. At the end of the year, net fixed assets were $24,502, current assets were $8,684, and current liabilities were $4,673. The tax rate was 22 percent. a. What is net income for 2021? b. What is the operating cash flow for 2021? ( c. What is the cash flow from assets for 2021? d-1. If no new debt was issued during the year, what is the cash flow to creditors? ( d-2. If no new debt was issued during the year, what is the cash flow to stockholders?Assume the following data for Sunland Tattoo Parlor for the quarter ended September 30. • Number of employees for third quarter: 7 • Gross earnings $60,663.60 • Employee FICA taxes $4,642.96 • Federal income tax $12,666.80 • State income tax $1,935.20 • Employer FICA taxes $4,645.96 • Federal unemployment tax $16.70 • State unemployment tax $139.12 • Monthly federal income tax and FICA tax liability: July $8,109.72, August $7,445.33, and September $6,376.60 • Federal income tax and FICA tax total monthly deposits for third quarter: $22,297.10 What amounts would be entered on Form 941 for the following line items? (Round answers to 2 decimal places, e.g. 52.75.) Line 3: Federal income tax withheld. $enter a dollar amount rounded to 2 decimal places Line 5a (Column 2): Taxable Social Security wages. $enter a dollar amount rounded to 2 decimal places Line 5c (Column 2): Taxable Medicare wages and tips. $enter a dollar…
- The net sales for the season were $47,500. The cost of goods sold was $21,000 and operating expenses were $7,800. What is the net profit percentage? (Round to the nearest tenth decimal)SafeMark Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $102,200 April 96,100 May 87,500 Depreciation, insurance, and property taxes represent $22,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 59% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. SafeMark Financial Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses: Paid in March $fill in the blank 1 Paid in April $fill in the blank 2 April expenses: Paid in April fill in the…Sheridan Corporation had sales of $3007000 and operating income of $511137. Sheridan also had $914000 of assets on January 1 and $807000 on December 31. What is the corporation's ROI for the year? O 59.4% O 26.8% O 34.9% O 58.8%
