Consider the information given below. If the owner contributes $49,200 and the owner withdraws $5,100, how much is the net income (loss)? Assets Liabilities Beginning of Year $48,000 $23,000 End of Year $83,000 $42,000
Q: SUBJECT FINANCIAL ACCOUNTING
A: Explanation of Return on Assets (ROA):Return on Assets (ROA) is a financial ratio that measures a…
Q: abc general accounting is
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) refers to the total cost of…
Q: Financial Accounting Question please give answer
A: Step 1: Define Cash DisbursementsCash disbursements refer to actual cash payments made by a company…
Q: Financial Accounting MCQ
A: Concept of Inventory Turnover RatioThe Inventory Turnover Ratio measures how many times a company…
Q: 5 POINTS
A: To calculate the flexible budget net income for 12,000 units, follow these steps:Calculate Total…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Shareholders' EquityShareholders' equity represents the owners' residual…
Q: What should investor's expect as a return on this financial accounting question?
A: Step 1: Define Expected Return Using CAPMThe Capital Asset Pricing Model (CAPM) is a financial model…
Q: Hello teacher please solve questions
A: Step 1: Definition of Net IncomeNet income is the amount of a company's earnings that remain after…
Q: its days sales uncollected equals
A: Step 1: Definition of Days' Sales UncollectedDays' Sales Uncollected is a financial metric that…
Q: Subject = General Account
A: Step 1: Definition of Adjusted BasisThe adjusted basis refers to the original cost of an asset,…
Q: Answer this MCQ
A: Explanation of Manufacturing Overhead Rate: This is a predetermined rate used to allocate indirect…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Direct Labor Rate VarianceThe Direct Labor Rate Variance measures the…
Q: General Accounting question
A: Step 1: Define Payroll TaxesThe employees' payroll taxes are the Federal income tax and FICA taxes,…
Q: What was ronny electronics sales price variance?
A: Explanation of Sales Price Variance:Sales price variance is the difference between the actual…
Q: General accounting
A: The question requires the determination of the total stock return. Total return is the total value…
Q: Sub. General accounting
A: To find the net income, we use the retained earnings formula:Ending Retained Earnings = Beginning…
Q: Problem related general Accounting
A: Concept of Equity MultiplierThe equity multiplier is a financial ratio that measures a company's…
Q: Calculate the sales revenue
A: Step 1: Definition of Target Profit and Sales RevenueTarget profit is the expected profit a business…
Q: False Value Hardware began 2013 with a credit balance of $31,900 in the allowance for sales returns…
A: Step 1: Definition of Net SalesNet sales refer to total revenue from sales after deducting estimated…
Q: Financial Account Subject
A: To calculate the total standard cost of one unit of Fleck's product, we sum up the standard costs…
Q: No AI ANSWER
A: Step 1: Introduction to stockholders' equityStockholders' equity refers to the residual value of the…
Q: What is the labor efficiency variance for April?
A: Explanation of Standard Cost: Standard cost is a predetermined cost that represents the expected…
Q: Don't use ai given answer accounting questions
A: Step 1: Calculation of increase to retained earningsNet income = Service revenue - Operating…
Q: Market rule?
A: Explanation of FIFO Method:The First-In, First-Out (FIFO) method is an inventory valuation approach…
Q: Calculate the gross profit ratio
A: Explanation of Gross Profit Ratio:Gross profit ratio is a financial metric that shows the percentage…
Q: What is the direct materials quantity variance on these general accounting question?
A: Step 1: Define Direct Materials Quantity VarianceThe Direct Materials Quantity Variance measures the…
Q: How much did Felton pay in cash dividends and what was it's average asset of this financial…
A: Step 1: Define Cash DividendsCash Dividends are payments made by a corporation to its shareholders…
Q: Give this question general accounting answer
A: Step 1: Definition of Accounts Receivable CollectionAccounts receivable collection refers to the…
Q: A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and…
A: Step 1:First, calculate the book value of the machine: Book value = Original cost - Accumulated…
Q: Carter Industries has stockholders' equity of $350,000 and total liabilities of $215,000. What is…
A: Explanation of Accounting Equation:The accounting equation is the foundation of double-entry…
Q: GlobalTech, Inc. has sales of 32.6 million, total assets of 24.3 million, and total debt of $8.5…
A: Explanation of Profit Margin: Profit margin is a key financial ratio that measures how much net…
Q: provide correct answer general accounting
A: Step 1: Definition of Standard CostingStandard costing involves estimating costs for all the…
Q: Total stockholders's equity
A: Concept of Total Assets:Total assets represent the sum of all resources owned by a company that have…
Q: Need answer please
A: Step 1: Formula Accounting equation:Assets = Liabilities + Equity You can use the formula below to…
Q: Turners total year to date actule costa over or under budget?
A: Explanation of Budgeted Costs:Budgeted costs refer to the estimated expenses a company plans for a…
Q: [The following information applies to the questions displayed below.] Raleigh Department Store uses…
A: Identify Inventory Layers and Apply Cost-to-Retail PercentagesStep 1:Calculate the Ending Inventory…
Q: Do fast answer of this accounting questions
A: Step 1:First, calculate the contribution margin per meal: Contribution margin per meal = Selling…
Q: Subject: financial accounting
A: Explanation of Asset Turnover Ratio: Asset turnover ratio measures how efficiently a company uses…
Q: What was the income from operations? General
A: Step 1: Define Fixed CostsBusiness incurs various courses in their operations; some costs depend on…
Q: what will be its return on equity?
A: To calculate the Return on Equity (ROE):Formula:ROE = Net Income ÷ EquityWe'll first calculate Net…
Q: NO WRONG ANSWER
A: Concept of Variable CostingVariable costing is an inventory valuation method where only variable…
Q: How many meals would have to be sold if fix costs declined by 20% ? Accounting
A: Step 1: Definition of Contribution Margin and Required Sales CalculationContribution Margin is the…
Q: Provide answer
A: Explanation of Revenue: Revenue represents the total amount of money earned by Cat Enterprises from…
Q: Step by step answer
A: Question 1: Step 1. Calculate the Warranty expense for the current month Warranty expense for the…
Q: Provide answer
A: Question 1: Step 1. Calculate the Warranty expense for the current month Warranty expense for the…
Q: What is the gross margin of this general accounting question?
A: Step 1: Define Absorption CostingAbsorption costing is an accounting method that includes all…
Q: None
A: ImageExplanation.To determine Maria's Capital Gains Yield (CGY), we use the formula:CGY=(Selling…
Q: If $8,400 was the beginning inventory, purchases were $14,000, and sales were $12,600, how much was…
A: Concept of Beginning InventoryThe beginning inventory refers to the value of goods that a company…
Q: Provide correct answer this general accounting question
A: Step 1: Define Overhead ApplicationOverhead application is the process of allocating estimated…
Q: If Ram Nation can give up one unit of future consumption and as a result increase its current…
A: Define the VariablesFuture Consumption: The amount of consumption Ram Nation has in the future (1…
None
Step by step
Solved in 2 steps
- For each case, calculate Mr. McGowan's Net Income (Division B income). Indicate the amount and type of any loss carry overs that would be available at the end of the current year, or state that no carry overs are available.From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%a.) Calculate Hasbro's and UHS's ROE for each fiscal year. Verify if the answers below are correct if not, show the correct answer. 2019 2018 Hasbro's ROE: 17% 13% UHS ROE: 15% 15%
- Use this example to determine the net income or net loss solve this general accounting question not use ai..thank youThe financial information is presented below for Bob's Appliance for the fiscal year ended 12/31/2020. $720,000 12,000 31,000 25,000 8,000 10,000 400,000 24,000 12,000 6,000 120,000 48,000 9,000 8,000 4,000 24,000 95,000 38,000 Sales Tax-exempt interest Long-term capital gain Short-term capital loss Interest income Passive activity loss Cost of goods sold Depreciation Section 179 expense Charitable contributions Bob's salary expense Employee salary expense Payroll taxes on employee Medical insurance expense for Bob Medical insurance expense for employee Rent expense Other operating expenses Net operating loss (from year ended 12/31/2019) Bob is a sole proprietor of the company and he has 1 employee. Assume Bob is single, no dependents, and does not itemize his deductions. Other than the income from Bob's Appliance, Bob has a short term capital loss of 22,000. Question #1) What is the income from Bob's appliance business? Be sure to show and label all your work and cell reference.…2. Prepare the general journal entry to record the payment to Hazel Adams if she is paid an amount equal to $12600 less than her capital account balance after revaluation. 3. Prepare the general journal entry to record the payment to Hazel Adams if she is paid an amount equal to $10200 more than her capital account balance after revaluation.
- Solve this accounting issue with correct calculationD. An entity reported the following information during the first year of operations:Pretax financial income 9,000,000Nontaxable interest received 1,000,000Nondeductible life insurance premiums paid 500,000Long-term loss accrual in excess of deductible amount 1,500,000Tax depreciation in excess of financial depreciation 2,000,000Income tax rate 25%1. What is the current tax expense?2. What is the total tax expense?3. What is the deferred tax liability at year-end?4. What is the deferred tax asset at year-end?How do I find the ROA (return over assets for year 2021 and 2020?
- Please explain how you get the journal entries below. The DeVille Company reported pretax accounting income on its income statement as follows: 2021 $ 355,000 2022 275,000 2023 345,000 2024 385,000 Included in the income of 2021 was an installment sale of property in the amount of $30,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $12,000 in 2022, $15,000 in 2023, and $3,000 in 2024.Included in the 2023 income was $10,000 interest from investments in municipal governmental bonds.The enacted tax rate for 2021 and 2022 was 40%, but during 2022, new tax legislation was passed reducing the tax rate to 25% for the years 2023 and beyond.Required:Prepare the year-end journal entries to record income taxes for the years 2021–2024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)The following information is for Swifty Real Estate: SwiftyReal EstateBalance SheetDecember 31, 2020 Cash $ 25500 Accounts Payable $ 60500 Prepaid Insurance 29700 Salaries and Wages Payable 15100 Accounts Receivable 50600 Mortgage Payable 84500 Inventory 68600 Total Liabilities 160100 Land Held for Investment 83500 Land 120600 Buildings $98100 Less Accumulated Depreciation Owner's Capital 366400 (19600) 78500 Trademark 69500 Total Liabilities and Owner’s Equity Total Assets $526500 $526500 The total dollar amount of liabilities to be classified as current liabilities is $160100. $15100. $60500. $75600.The total dollar amount of assets to be classified as investment is ?
