Bristol Electronics had fixed assets of $15,000 at the beginning of the year and $19,500 at the end of the year. During the year, the firm sold $6,000 worth of fixed assets. How much in fixed assets must they have purchased? a. $10,500 b. $12,500 c. $11,000 d. $13,000 e. None of the above
Q: The following information is for two companies Martin industries and modern industrial
A: 1. Calculate Net Income for Each CompanyMartin Industries:Net Income = Revenue * Net Profit…
Q: Please answer the following requirements on these general accounting question
A: Explanation for A: Annual net cash flow is calculated by adding the non-cash expense to the net…
Q: What was the net income for the year? General accounting
A: Step 1: Define Net IncomeIn accounting, net income refers to the total amount of revenue after…
Q: What is the company's asset turnover ratio on these general accounting question?
A: Step 1: Define Asset Turnover RatioThe Asset Turnover Ratio measures how efficiently a company uses…
Q: Answer to below question
A: The question requires the determination of the net income. Net income (NI), also known as net…
Q: General Accounting
A: Step 1:First calculate the value of average operating assets: Return on investment = Net operating…
Q: Determine cash withdrawals for the period if net income is $53,000, beginning owner's equity is…
A: Explanation of Net Income: Net income, shown as $53,000 in this case, represents the total profit…
Q: What is the amount of gross margin for this merchandise? General accounting
A: Step 1: Define Gross MarginGross margin is the difference between the cost of goods sold and net…
Q: What effect will this error have on the Cost of goods sold and Net income? # general Account
A: The correct answer is:A. Cost of goods sold Understated; Net income Overstated. Explanation:The…
Q: Month note receivables?
A: Step 1: Definition of Note ReceivableA note receivable is a current asset representing a written…
Q: Please solve this question general accounting
A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the owners' residual…
Q: #general account
A: The correct answer is:a. Direct material cost. Explanation:Flour in Bread Production:Flour is a…
Q: General Accounting 3.25.74-If sales are $420,000, variable costs are 72% of sales, and operating…
A: Step 1: Operating leverage Operating leverage = Contribution margin/Operating incomeContribution…
Q: Direct labor is both a prime cost and a a. nonmanufacturing costs. b. selling expense. c. conversion…
A: Direct labor is a key cost in manufacturing that represents the wages paid to workers who are…
Q: Black Diamond Company produces snow skis. Each ski requires 2 pounds of carbon fiber. The company's…
A: To prepare the Direct Labor Budget for the third quarter for Black Diamond Company, we need to…
Q: Please give me correct answer the accounting question
A: Step 1: Define Gain or Loss on Disposal of Asset:The gain or loss on the disposal of an asset arises…
Q: Help
A: A callable bond is a type of bond that allows the issuer to redeem the bond before its maturity…
Q: Net income is?
A: Step 1: Contribution margin Contribution margin = (Selling price per unit - Variable cost per unit)…
Q: Need help with this general accounting question please solve
A: I believe what is being asked here is the contribution margin per tart which is eventually used to…
Q: Please provide correct answer the general accounting question
A: Step 1: Define Comprehensive IncomeComprehensive Income includes all changes in equity during a…
Q: In Barber Company, total material costs are $10,000 and total conversion costs are $20,000.…
A: Step 1:Conversion cost is the costs incurred to convert raw materials into finished goods.…
Q: What would be the list price for the recliner?
A: The list price of a product is determined by adding a profit margin to the wholesale price. The…
Q: Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150…
A: Concept of FIFO (First-In, First-Out):FIFO is an inventory valuation method where the goods…
Q: provide answer general accounting question
A: Step 1: Define Operating Cash Flow (OCF)Operating Cash Flow (OCF) refers to the cash generated by a…
Q: Please need answer the general accounting question
A: Step 1: Define Ending Inventory:Ending Inventory refers to the value of goods that remain unsold at…
Q: Financial Accounting
A: Step 1: Define Average Issue Price of StockThe average issue price per share is calculated by…
Q: Hii expert please provide correct answer general accounting question
A: Step 1: Define Return on Assets (ROA) by SegmentReturn on Assets (ROA) measures how effectively a…
Q: Provide calculation this question general financial
A: Question 1Step 1: Arithmetic ReturnThe arithmetic return is calculated by taking the average of the…
Q: The factory janitor's salary is a: a. Product and direct material cost. b. Product and direct labor…
A: Option a: This option is incorrect because the janitor's salary is not a direct material cost as it…
Q: Answer this Question
A: Net Income =Sales- Total Costs- Depreciation Expense- Interest Expense - TaxesStep 1: Calculate…
Q: Using the produced as the activity level general accounting
A: Step 1: Definition of High-Low MethodThe high-low method is used to separate a mixed cost into its…
Q: Want answer
A: Explanation of Direct Materials Used:Direct materials used represent the raw materials consumed…
Q: Net income for the year???
A: Step 1: Define Net EarningsThe amount of earnings as determined from statement of profit or loss is…
Q: General Accounting
A: Step 1: Current assets Current assets = Net working capital + Current liabilitiesCurrent assets =…
Q: Solve this following requirements on these general accounting question
A: Step 1: Define DuPont FormulaThe DuPont Formula is a method used to analyze a company's Return on…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Cost of Merchandise Sold (COGS)Cost of Merchandise Sold (COGS) represents the…
Q: need help with this general accounting question
A: Step 1: Calculation of Degree of Combined Leverage (DCL)Degree of Operating Leverage (DOL) = 3Degree…
Q: Hii, Tutor Give Answer
A: Explanation of Net Income:Net Income is the total profit a company earns during a specific period…
Q: Calculate the gross profit margin and profit margin for bot year ?
A: Step 1: Define Profit MarginNet profit margin, also known as profit margin is a measure of…
Q: A company has a defined benefit pension plan for its employees. Discuss the accounting treatment for…
A: Definitions1. Defined Benefit Pension Plan: A defined benefit pension plan is a retirement plan in…
Q: It's a financial accounting question please answer
A: Step 1: Define TurnoverThe Turnover measures how efficiently a company uses its assets to generate…
Q: None
A: The operating cash flow at the break-even point can be calculated using the formula: Operating Cash…
Q: Provide correct answer general accounting
A: Step 1: Definition of Direct Materials Used in ProductionDirect materials used in production refer…
Q: Don't want AI ANSWER
A: Economic Order Quantity (EOQ) is an inventory management tool applied broadly to determine the…
Q: Do fast answer of this general accounting question
A: Step 1: Define InsuranceIt is a sort of agreement in which one party pays the insurance provider a…
Q: Provide answer general accounting
A: Step 1: Definition of MarkupMarkup is the percentage difference between the cost to produce a…
Q: General Accounting question
A: Step 1: Define Gain or Loss on Disposal of EquipmentGain or Loss on Disposal of Equipment is the…
Q: provide correct answer general accounting
A: Explanation: When an entity borrows any debt, then, the portion of the debt which is due within 12…
Q: None
A: To calculate the market value of shareholders' equity, we use the formula: Equity = Assets -…
Q: Question No. 14. (Financial Accounting): Suppose you sell a fixed asset for $153,000 when it's book…
A: Explanation of Fixed Asset: A fixed asset is a long-term tangible piece of property or equipment…
Need help with this general accounting question


Step by step
Solved in 2 steps

- Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,395 for the year. What was the company's net capital spending for the year? a. $83,990 b. $35,685 c. $21,750 d. $43,580 e. $41,170Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,935 for the year. What was the company's net capital spending for the year? Multiple Choice O $35,685 $43,580 $21,750 $41,170 $83,990A firm had fixed assets of $16,000 at the beginning of the year and $19,000 at the end of the year. You also know that the firm sold $7,000 in fixed assets over the year. How much in fixed assets must they have purchased?
- Nighthawk Steel, a manufacturer of specialized tools, has $5,040,000 in assets. Temporary current assets Permanent current assets Capital assets Total assets $1,180,000 1,680,000 2,180,000 $5,040,000 Short-term rates are 5 percent. Long-term rates are 7.5 percent. (Note that long-term rates imply a return to any equity). Earnings before interest and taxes are $1,050,000. The tax rate is 25 percent. Assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 5 percentage points lower than short-term rates. If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of short-term financing, what will earnings be after taxes? For an example of perfectly hedged plans. see Figure 6-8 Earning after taxesNighthawk Steel, a manufacturer of specialized tools, has $5,220,000 in assets. Temporary current assets Permanent current assets Capital assets Total assets $1,240,000 1,740,000 2,240,000 $5,220,000 Short-term rates are 4 percent. Long-term rates are 6.5 percent. (Note that long-term rates imply a return to any equity). Ear before interest and taxes are $1,080,000. The tax rate is 25 percent. Assume the term structure of interest rates becomes imm with short-term rates going to 9 percent and long-term rates 4.5 percentage points lower than short-term rates. If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of short-term financing, earnings be after taxes? Eor an example of perfectly hedged plans see Figure 6-8. Earning after taxes $Nighthawk Steel, a manufacturer of specialized tools, has $5,220,000 in assets. Temporary current assets Permanent current assets Capital assets Total assets $1,240,000 1,740,000 2,240,000 $5,220,000 Short-term rates are 4 percent. Long-term rates are 6.5 percent. (Note that long-term rates imply a return to any equity). Ear before interest and taxes are $1,080,000. The tax rate is 25 percent. Assume the term structure of interest rates becomes im with short-term rates going to 9 percent and long-term rates 4.5 percentage points lower than short-term rates. If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of short-term financing earnings be after taxes? For an example of perfectly hedged plans, see Figure 6-8. Earning after taxes $
- Patterson Brothers recently reported an EBITDA of $16.5 million and net income of $5.775 million. It had $1.5 million of interest expense, and its corporate tax rate was 25%. What was its charge for depreciation and amortization? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Do not round Intermediate calculations. Round your answer to the nearest dollar, if necessary. $Acer Systems, a manufacturer of gaming consoles, has $5,520,000 in assets. Temporary current assets Permanent current assets Capital assets Total assets $1,340,000 1,840,000 2,340,000 $5,520,000 Short-term rates are 5 percent. Long-term rates are 7.5 percent. (Note that long-term rates imply a return Earnings before interest and taxes are $1,130,000. The tax rate is 25 percent. Assume the term structure a becomes inverted, with short-term rates going to 10 percent and long-term rates 5 percentage points lowe rates. If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of sh what will earnings be after taxes? For an example of perfectly hedged plans, see Figure 6-8. Earning after taxes $can you help me with
- A firm purchased $62,800 of fixed assets two years ago. The company no longer needs these assets so it is going to sell them today for $28,500. The assets are classified as five-year property for MACRS. The MACRS rates are .2, .32, .192, .1152, .1152, .0576, for Years 1 to 6, respectively. What is the net cash flow from this sale if the firm's tax rate is 23 percent and no bonus depreciation is taken? $29,281.04 $26,576.00 $28.878.12 $27,516.60 O $29,648.12At the end of its financial year, Tanner Co had the following non-current assets: Land and buildings at cost $10.4 million Land and buildings: accumulated depreciation $0.12 million Tanner Co decided to revalue its land and buildings at the year-end to $15 million. What will be the value of the revaluation surplus if the revaluation is accounted for? %24Nighthawk Steel, a manufacturer of specialized tools, has $4,200,000 in assets. Temporary current assets Permanent current assets Capital assets Total assets $1,000,000 2,000,000 1,200,000 $4,200,000 Short-term rates are 4 percent. Long-term rates are 6.5 percent. (Note that long-term rates imply a return to any equity). Earnings before interest and taxes are $860,000. The tax rate is 25 percent. Assume the term structure of interest rates becomes inverted, with short-term rates going to 9 percent and long-term rates 4.5 percentage points lower than short-term rates If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of short-term financing, what will earnings be after taxes? For an example of perfectly hedged planssee Figure 6-8. Earning after taxes $ 459,000.00 O

